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Only 1 in 2 B2B Marketers Agree That Marketing’s Financial Value is Clear to Their Business

source: http://www.marketingcharts.com/wp/topics/business-to-business/only-1-in-2-b2b-marketers-agree-that-marketings-financial-value-is-clear-to-their-business-36369/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

ForresterResearch-B2B-Marketing-Impact-on-Biz-Sept20132 in 3 US CMOs are feeling pressure from the board to prove marketing’s value, according to recent research, and it seems that B2B marketing leaders may have some work to do in this regard. According to a Forrester Research survey [download page] of 174 B2B marketing leaders, while 72% agreed that it’s clear to their leadership how marketing impacts the business, just 51% agreed that marketing’s financial value is clear to the business. Respondents themselves may be to blame.

That’s because just 4 in 10 believe that measuring marketing’s value and contribution to the business is either very important or critical, per the researchers. What’s more, only 45% of respondents expressed confidence that they know which metrics or business outcomes their key stakeholders care about. A symptom of a larger problem: while roughly two-thirds publish a marketing dashboard, slightly fewer than half share it with an executive team.

Then again, perhaps providing key stakeholders with the relevant data wouldn’t matter. Separately in the study, when asked to what extent key stakeholders are using the data, metrics and/or analyses developed by marketing, respondents were twice as likely to say that the CEO does not use marketing data at all (16%) than to believe that the CEO relies on marketing data to make decisions (8%). The gap was even more pronounced when it came to their beliefs regardin! g how the! CFO or finance team uses marketing data (25% ignoring; 4% relying). Only the sales team is seen more likely to rely on marketing data (15%) than to not use it at all (10%).

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Tuesday, September 3rd, 2013 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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