You should not hesitate to ask for help, especially if you are the CMO.
Marketers are prone to fall into the trap of focusing on traditional roles such as advertising and brand development. Many C-suite executives see marketing as an essential player in the company’s growth and expansion. It is vital that you do, too.
The disconnect between CEO Expectations and Marketing Performance
CEOs see the bigger picture. They want their marketing teams to be focused on increasing revenue growth.
Most CEOs wonder if their CMOs possess the leadership and business skills necessary to achieve this critical goal. A Fournaise study found that 75% of CEOs don’t trust their CMOs.
The same percentage of CMOs are dissatisfied with their jobs. Many C-suite marketers feel their talents need to be used and utilized more. According to statistics, CMOs are less influential than other C-suite executives.
Only 17% of marketing chiefs work in environments encourage innovation and creativity. They can deliver relevant customer experiences and significant numbers.
What is the root cause of this enormous disconnect? It is usually a need for more communication between strategy-focused CEOs and results-oriented CMOS.
If CEOs need to understand the changing role of CMOs, marketing departments can become misaligned from the rest of the company. CMOS need to balance listening to CEOs and providing what they require. It is essential to establish a planning hierarchy and get the support of the CEO.
What CEOs Expect from CMOs and Marketing Departments
Discussing how CEOs look for tactical production from CMOS rather than marketing strategy ideas is always interesting. CEOs expect marketing results to bring in business results. They ask us to change our logo color or place it on a bus, billboard, or stadium.
With these in mind, here are three things CEOs might expect from their marketing departments: investment they can quantify, new methods to achieve the same results, and constant knowledge about what the customer wants. These are the three C’s.
CMOS, who make decisions based on only empirically measurable returns, could be in trouble. It’s not impossible.
Using a marketing campaign to demonstrate its ROI and show accurate business results is the fastest way to get CEOs to sign on.
CMOS can build business cases that show how their ideas provide substantial value and can be accounted for using real numbers. You can justify capital expenditures and predict future cash flows. Demonstrate how investing in marketing strategy will result in increased revenues.
According to a recent study, nearly 40% of marketers admitted that they need an actionable innovation strategy. Around 25% of marketers believe the term needs to be defined clearly. Why?
Visionary CEOs may expect their marketing teams to adapt quickly to changing times. They might need help to see the need for innovation.
Many CMOs feel they are reinventing the wheel when they are pressed for results and have limited resources. CEOs need to realize that inspiration does not come from more effort.
Innovation is essential. 70% of consumers rely on user reviews and not brand blogs or advertisements for information. This is a significant shift in conventional marketing wisdom.
The CMOS of the future is using content marketing agencies to create customer experiences that will inspire others. They have discovered new revenue streams and built unusual partnerships and networks.
Customer demands are changing more rapidly. Marketing strategies must also change.