Recently, I had the privilege of joining Jeffrey Hayzlett’s panel on digital media innovation at the CMO Summit in Dallas. One of the questions Jeff asked was, “What are the three biggest mistakes that CMOs make in relation to digital media in general and content marketing in particular?” This post covers some of the topics we discussed and to which I think marketers should devote more thought.
Big mistake #1: Believing that true branding can only be achieved offline
It’s no secret that the majority of brand marketers’ dollars still go offline. The largest brand marketers spend less than 10 percent of their marketing budgets online, and the rest goes to TV, radio, print publications, and offline content marketing (e.g., product placement in movies and sponsored soap operas). It sounds strange, as we know people spend much more time reading content online, listening to radio on Pandora, and watching their favorite shows on Hulu. So why don’t the brand dollars follow?