Make Marketing Matter: How to Boost Your Strategic Position
Posted in: UncategorizedAs a marketing leader, you understand how critical your function is to the success of your business, yet it’s common to feel like you’re swimming upstream to get your task leadership fully invested. You’re not alone! Many of today’s marketers express this sentiment and are actively looking to increase their strategic importance.
A demonstration of this rests at the highest level of strategic guidancecompany boardswhere only 2.6% of board members have managerial-level marketing experience, according to a recent study. Yet that same study shows that the boards that incorporate more marketers outperform others in shareholder value. Considering the pressure today’s CMOs and marketers are under to drive higher revenue with shrinking budgets, why the disconnect?
Most boards today are strongly finance/risk management-driven, so legacy perspectives can sometimes position marketing as a nice-to-have, rather than a critical driver of business. In addition, both inside and outside the board room, many business leaders often grapple with misconceptions and even mistrust of marketing, furthering the challenge of gaining proper support.