IDG’s CXO Media Aims New Magazine, Web site At Chief Marketing Officers
FRAMINGHAM, MA – APRIL 6, 2004 – Award-winning CXO Media Inc., a company that caters to corporate officers' information needs, today announced it will launch a new magazine dedicated to the nation's chief marketing officers (CMOs). In September, the company will launch CMO magazine, preceded by the debut of its companion website, CMOresource.com in June. These two new resources will provide chief marketers with the information they need to capture market share and justify budgets in a recovering economy.
According to CXO Media President and CEO, Walter Manninen, "the economy is turning around but corporate demands on marketing executives, cross industry, are not letting up. Their directive is to capture consumer loyalty, market share, and continue to justify expenditures. Plainly stated, CEOs are demanding CMOs forecast marketing initiative ROI and then prove the money they spent brought dollars into the company." IDC's 2003 CMO Advisory Service reports 49% of technology CMOs are under a direct mandate from CEO/CFOs to improve accountability and measurement of marketing.
"Unfortunately, the results of many marketing programs, whether advertising, direct marketing, market research or public relations can be tricky to measure. This is an age-old challenge for the marketing profession and a premise for both the new monthly magazine and the website," states CXO Media's Editorial Director Lew McCreary. Content for CMO magazine and CMOresource.com will be devoted to bringing marketing chiefs the latest resources and technologies to support and maximize the results of their initiatives. The magazine will review best practices and cover the many disciplines in the marketing suite (e.g., marketing governance, advertising relations, promotion, and budget/salary trends).
During the CMO product development process, CXO Media underwrote a confidential study of top marketing executives across the United States in the Fall of 2003. The results of the study confirmed a market gap in information resources for marketing chiefs. "With the advent of the Internet, an instant gratification mindset has permeated business expectations. Annual budget reviews have quickly shifted to quarterly, monthly and often daily cycles. Real-time market testing and program analysis are business usual. Marketing chiefs live in a world of find it, fix it, fast," says Manninen.
As the economy hints at signs of recovery, there is evidence the multi-billions spent on marketing are increasing. A London School of Business study of CMOs in seven countries showed moderate growth in U.K. and U.S. markets last year, with healthy growth for 2004 (up by 9% and 14% respectively over the three year period, 2001-2004). Interactive marketing–comprised of web sites, extranets, internet advertising/sponsorship, email, and new media–was the fastest growing category. Companies in all sectors were reported to be investing heavily in interactive marketing, with dramatic growth projected for the U.K. (74%,2001-04), the U.S. (45%, 2001-04), and China (53%, 2002-04).
An independent spending study issued in January from US-based Blackfriars Communication reports marketing budgets are up 8.9% in 2004 versus 2003, with 27% of the budget to be spent in Q1-2004. The study also anticipates marketing budget allocation as follows: advertising will capture the largest share (31%), followed by web site development (17%), events (15%), public relations/analyst relations (10%), collateral (6%) and concept testing (6%).
CXO Media's proven ability to spot trends in the roles of corporate officers includes the 1987 first-to-market publication CIO, launched for chief information officers (CIOs) before anyone even knew what a CIO was. In 1995, the company debuted CIO.com. In April 2002, once again the company was first to identify the highly specialized needs of chief security officers (CSOs) conceptualizing and publishing CSO magazine and its accompanying website CSOonline.com. Through its media properties the company endeavors to enhance partnerships among C-level executives, as well as create opportunities for information technology (IT) and consumer marketers to reach them. CXO Media's experience and success with CIO and CSO will be invaluable as it creates a new publication and community for
Management Launch Team
CXO Media is a nationally recognized, award-winning publisher of new titles/websites and is staffed with seasoned executives with a history of identifying executive niches with unmet information needs and creating new resources to serve those needs. Launch team members include Walter Manninen, President and CEO; Gary Beach, Group Publisher; Lew McCreary, Editorial Director; Cathy O'Leary Hayes, EVP of Marketing; Tim Horgan, Sr. Vice President/Online; Carol Spach, VP of Circulation and Mary Lester, Director of Art & Design.
Print Circulation Strategy, Format & Advertising
CMO magazine will reach its target audience via a combination of telemarketing to Global 2000 companies, direct mail, and online marketing. Circulation will be controlled with CMO magazine offering free subscriptions to 25,000 qualified readers at launch. Paid subscriptions will be available at a cost of $65/annually for those who do not qualify to receive a free copy of the publication. The oversized magazine will be saddle-stitched and aims to have an average of 64-pages plus covers per issue with a target 50/50-ad/edit ratio. CMO magazine will have a trim size of 8-3/4" x 10-7/8". The cost of a black & white ad page will be $7,900; four-color full page: $10,800.
About CXO Media:
CXO Media is a subsidiary of International Data Group (IDG), the world's leading technology media, research and event company. A privately-held company, IDG publishes more than 300 magazines and newspapers including Bio-IT World, CIO, CSO, Computerworld, GamePro, InfoWorld, Network World, and PC World. The company features the largest network of technology-specific websites with more than 400 around the world. IDG is also a leading producer of more than 170 computer-related events worldwide including LinuxWorld Conference & Expo®, Macworld Conference & Expo®, DEMO®, and IDC Directions. IDC provides global market research and advice through offices in 50 countries. Company information is available at http://www.idg.com.