Marketing on the board
Here at Think Beyond, we create a culture of learning and share a philosophy that drives us to share expertise to help your business grow. Recent research in the Journal of Marketing confirms that having marketing on the board is grows revenue. In general, revenue increases by up to 8% versus without marketing on the board. Directors with marketing experience achieved that by shaping the agenda and influencing the CMO and C-suite between meetings.
The Financial Reporting Council (FRC) released a new UK corporate governance code in July 2018. The first principle is that: “A successful company is led by an effective and entrepreneurial board, whose role is to promote the long-term sustainable success of the company, generating value for shareholders and contributing to wider society”.
In summary, you get more revenue with marketing on the board and this plays to good corporate governance. Now, let’s look at some other benefits.
The Benefits of Marketing in the Boardroom
Most marketers are creative thinkers, inspiring and motivational so does it not make sense to enrich your board with those traits? Read below as we explore the benefits of marketing at board level and the success it brings.
Leading the Digital Charge
A strategic marketer will help guide your digital strategy and plan, which is essential to stay ahead of the wave of technological change. A digital strategy helps to find your next customers before your competitors do. Think Beyond helps businesses realise their marketing potential. Therefore, we offer to partner with you and offer strategic marketing consultancy to help you get there. Give us a call today on 01625 682110 to see how we can support your growth plans.
A modern marketing function may have outsourced its creative functions to a design agency, pursuing strategies to generate new leads and move further up the value chain. When you consider that a diverse and entrepreneurial board will often feature a strong sales director, it becomes a no-brainer to have the marketing skills present that align to sales and drive demand generation. Think Beyond can offer Marketing Director as a Service (MDaaS) to fill that gap in your board.
Sales teams are most effective when they are fed relevant leads at the top of the sales funnel. Those leads get nurtured through the middle of the funnel to an opportunity. Think Beyond uses tools and automations to boost demand generation, help you to identify and grow funnel velocity and analyse why leads don’t become opportunities. At the bottom of the funnel, where a deal is won or lost, we help find out why you are not converting
Additionally, why not read more about why it pays to choose a marketing expert.