When the CEO of all too many B2B companies sits down to decide on the three- or five-year strategy, a select group of executives are typically asked to front up with factual data and strategic opinions: The Chief Financial Officer, the Chief Commercial Officer and the Chief Operations Officer. Equipped with their inputs, the CEO usually feels he or she has enough information to formulate the strategy (perhaps supplemented with external advice). Then, and only then, the strategy is explained to the CMO. Continue reading
What is a Marketer CEO? (Part 2)
In a previous post, I introduced several characteristics that define a Marketer CEO, as revealed in my study of marketing’s contribution to B2B company performance.
Continuing the discussion, I’ll explore more of these characteristics within themes of marketing performance and market strategy.
With so much discussion among marketers about marketing metrics, you may expect this to be top of mind with CEOs, too. Marketer CEOs do have strong expectations of how marketing should perform, but perhaps not in the way you’d expect. Continue reading
What the B2B CEO really thinks of marketing
The role of marketing in B2B companies is often debated. For every story of marketing’s contribution to growth, there are probably another two or three of marketing fighting tooth and nail for budget, resources and, not least, mindshare from the B2B CEO.
After years of being part of this debate, I decided to find out what the B2B CEO and executive management really think about marketing. Over the last several months, I’ve conducted extensive research into understanding their opinions.
There is a growing amount of research into marketing’s contribution to performance at B2B companies. But while the academic research is fragmented, really only touching the surface, the practitioner research often seems to be a celebration of marketing and, indeed, quite removed from reality.
Like it or not, reality is the CEO. No matter how good the B2B marketing department thinks it is, it won’t get far without his or her blessing. Continue reading
The CMO as the new B2B superhero
When push comes to shove, it’s hard to find a CEO of a B2B company who sees marketing as the go-to function for business performance. Marketers are constantly challenged by their executive management to demonstrate the effectiveness of their efforts.
Does that mean the CMO role at B2B companies is redundant? And what can marketing do to move itself from a support function into the company’s upper echelons? Continue reading
The drive for more business credibility and returns from marketing
I recently read an interesting Harvard Business Review blog post “Marketing is Dead” exploring the views of CEOs on Marketing and business credibility. In the post, author Bill Lee states: “…. CEOs have lost all patience. In a devastating 2011 study of 600 CEOs and decision makers by the London-based Fournaise Marketing Group the result was that:
- 73% of them said that CMOs lack business credibility and the ability to generate sufficient business growth
- 72% are tired of being asked for money without explaining how it will generate increased business
- 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric….” Continue reading