It is hard to fathom that more than two-thirds of CEOs have given in, no longer enforcing key business objectives and expectations with their marketing teams. Those CEOs primarily cite that their teams have “continuously failed” to bring about business growth.
The findings are part of the Fournaise Marketing Group’s 2012 Global Marketing Effectiveness Program, wherein they interviewed more than 1,200 CEOs across North America, Europe, Asia and Australia.
While their report confirms that the majority of those CEOs possess their own in-house marketing departments, they do so “purely out of tradition.” It’s a sad indicator that defeatism has permeated most CEOs, in that they “made the conscious decision not to expect more from marketing than branding.”
It was a widespread consensus that marketing professionals live too much in the brand, creative and social-media bubble. Those CEOs didn’t find marketing professionals to be ROI focused, i.e., intent on bringing accountability, directly correlating how they spend the money with achieving a positive impact on P&L.
A mere twenty percent of CEOs contend that their top marketers need to become ROI accountable. The report went on to add that seventy-three percent of CEOs believe marketers lack credibility because they cannot prove the impact of marketing on business.
However, of those CEOs, seventy percent admit that their own lack of trust and attitude is to blame for the poor reputation of marketers. The lack of expectation of performance has ensured the continuation of bad marketing.
Jerome Fontaine, CEO of Fournaise, stated, “Whether we like it or not, what CEOs are telling us is clear cut: They don’t trust traditional marketers, they don’t expect much from them. CEOs have to deliver shareholder value. Period. So they want no-nonsense ROI Marketers; they want business performance; they want results. At the end of the day, Marketers have to stop whining about being misunderstood by CEOs, and have to start remembering that their job is to generate customer demand and to deliver performance. This is business.”
Both as a professional Marketing Strategist who has studied the subject of marketing and sales extensively and as a C-Level executive, I know that results are not only obtainable, they are so much so that I demand them from the top down. Defeatism at the CEO level must be eradicated to usher in a new ethos driven by high expectations of professionalism and results.