What is your business growth strategy?
According to the Harvard Business Review , 46% of Chief Marketing Officers (CMOs) are focused on commercial marketing such as advertising, digital content, social media and events. 31% focus on growth, innovating, understanding the customer, analysis and product design. The remaining 23% do both and own a P&L. They are focussed on the design and implementation of strategy and may be considered future CEO material.
A typical B2B business is usually sales or technical-led and these tend to have the commercially-focused CMOs; supporters that are not seen as critical to success. However, it gets worse. According to Marketing Week , CMO churn in the UK stands at 82% planning to leave their roles within 3 years and 41% within the next 12 months.
Why do marketers fail?
Marketing Week suggests that the inability to express results in terms of financial performance or frustration with the job (unappreciated or unable to change the organisation) are the primary reasons.
Marketing Return on Investment (MROI) is something we keep repeating, but it is crucial to be able to measure the value add from marketing, especially if you are seen as the commercially-focused set. The CEO and CFO may be disillusioned with the lack of measured results from their investment and the opportunities from sales and marketing alignment may fail to materialise.
Why you need a marketing expert on your board
Deloitte  suggest that marketers need to be able to communicate across the organisation, “To make sure that a CMO has credibility, they have to be able to know how to talk to other members of the C-suite. CMOs must be comfortable talking to the CFO about P&L and to the CIO about technology needs.”
Think Beyond is a marketing management consultancy operating in Wilmslow and Alderley Edge in Cheshire. We partner with clients across the North West and beyond, helping you make sense of marketing, understanding the customer journey and leveraging data and insights for sales growth. We offer Marketing Director as a Service (MDaaS), a board-level chartered marketer that can help you set the direction for marketing and communicate across the C-suite. Your strategic partner.
If you would like to discuss your marketing strategy and you don’t have a CMO or marketing director, you can call us on 01625 682110 for a no obligation chat.
As a CEO or business owner, how should marketing work for you?
The Digital Marketing Institute  suggest that 68% of senior people expect CMOs or marketing directors to be growth drivers; to be finance experts, technologists and understand how to connect with customers. Typically, the tenure of the top marketers is the lowest in the C-suite.
A startling 80% of CEOs have expressed dissatisfaction with their CMO, which is either an expectation gap or a measurement gap. The importance of marketing KPIs to evaluate success, measuring MROI to prove the value add from your marketing investment and leveraging data analytics to talk to the CEO and CFO/FD on their terms are all crucial skills of a modern marketer.
My marketing budget may be cut if I don’t support sales
Nothing frustrates a marketer more than being called the ‘colouring-in’ department or where you go for ‘pretty brochures’. Some organisations fail to realise the strategic gains that can be made – the customer insight, the product development, lead generation and increased sales that can come from positioning marketing at the heart of business strategy. Marketing is vastly different to 20 years ago, even 10 years ago.
Forbes  state the following 5 trends shaping the marketing profession:
- Use the right data, at the right time, for the right purpose
- Focus content on customer experience and understand responses (neuroscience and neuromarketing)
- Artificial Intelligence (AI) and machine learning to predict next actions
- Personalise the customer journey, tell them a story, tailor it to their situation
- Display advertising is less effective but native, video and live content are growing
Why you can’t afford not to have Marketing Director as a Service (MDaaS)
Looking at the key trends from Forbes, is your business really geared up for the coming (and in some cases present) landscape? Data analytics, neuromarketing and neuroscience, AI, deep customer insight for personalisation and more dynamic, relevant content. Sounds like marketing really are becoming technologists. Can you afford to rely on word of mouth, referral marketing, a bland website, pay for a few keywords with your Pay Per Click (PPC) budget and a glossy brochure?
Think Beyond are your experts in marketing strategy
Think Beyond were borne out of a philosophy of partnership, driven by marketing as a science and focused on increasing marketing ROI, a model we call PSR (Philosophy, Science and ROI). Our CIM chartered marketers are experts in marketing plans, digital strategy, marketing automation, inbound marketing, improving sales and even deliver bespoke workshop training courses to your team to boost your in-house marketing skills.
See what our happy customers think by visiting our testimonials page.