Marketers take note: CEOs think you are not credible. Nearly three-quarters of CEOs believe marketing professionals lack business credibility because they are focusing more on branding and “pretty” plans and less on results — sales growth — from their work.
According to a survey of more than 600 CEOs and decision-makers at large corporations and small- and medium-sized businesses in the U.S., Europe, Asia and Australia, 73 percent of them came to that conclusion. The interview-based survey was performed by The Fournaise Marketing Group, a global leader in customer acquisition through marketing.
This is a palpable problem for internal heads of marketing and for marketing firms. They need to show a real impact on sales for a company or risk not staying on the job. What’s worse, 69 percent of marketers surveyed by Fournaise feel their strategies and campaigns make an impact on the company’s business, even if they cannot quantify it. So, there is a disconnect between CEOs and marketers.
According to the survey, here are other top issues from CEOs about marketers:
– They focus too much on the creative, artistic side of marketing (67 percent);
– They bombard executives with marketing data that isn’t relevant to profits and losses (70 percent);
– They always ask for more money but can’t explain how that investment will generate business (72 percent);
– They are always talking about brand, brand value and brand equity, and don’t link these back to revenue, sales, earnings or market valuation (77 percent);
– They continually talk about the latest marketing trends (i.e., social media) but can’t demonstrate how these trends will help them generate more business for the company (74 percent).
Yes, branding is important. It’s your identity. There needs to be a top-of-the-mind awareness of your company with customers and potential customers. Touch points with potential customers that aren’t necessarily visible and company reputation are hard to quantify. So, yes, CEOs shouldn’t count every marketing penny toward ROI, because some marketing efforts are invisible to the sales of a company.
Get your CEO involved
The answer to the problem is to get your CEO involved in the marketing of the company from the beginning. Many CEOs rise into the position through the financial side of the business. So you need to explain your strategy, how you will execute the plan and how the strategy will result in greater sales. Be effective at following through sales leads to analyze where they came from and to ensure that those leads become sales. Present that data clearly and make sure that data is results-oriented.
But, if you are concentrating just on the sizzle and the company is selling fewer steaks, it’s time to redirect your efforts to ensure you are thinking of top-line growth — more sales prospects, more buyers, more revenue — in almost everything you do. In the end, the results are what matter.
Josh Sommers is president and CEO of Focus Media, a leading Hudson Valley advertising and public relations agency. He can be reached at josh@advertisingandpr.com or 294-3342, ext. 303. Read his blog at www.advertisingandpr.com. His column appears Fridays.
