Chief Executive asked us what CEOs should expect from their Marketing leadership as we head into the new year.
To stay sharp, compete and win in 2018, we offered 3 key trends every CEO should be apprised of regarding their marketing organization.
1. A marketing back office renaissance
A recent drop in marketing budgets (per Gartner) is largely due in part to marketing leadership being too distracted by tactics and execution.
For that reason, we predict a renaissance of the back office – meaning a greater focus and investment on the strategic arm of the marketing organization (basically everything that is happening behind the scenes within marketing.)
2. Alliance between the CMO and CFO
As budgets are tightened, marketing teams that succeed in 2018 will build a closer relationship between Marketing and Finance.
Research found companies that anticipate larger budgets and increases in revenues are 3 times more likely to align the CMO and CFO.
This is because the CFO is holding the CMO to a very high standard. Marketers who act as true stewards of the company’s dollars, demonstrating accuracy, impact and transparency in their actions, will earn the trust of a CFO and the rest of the C-Suite (and this is badly needed). Many enterprise organizations are exhibiting a renewed focus on better managing their budgets to optimize the impact of every dollar spent. Those that haven’t figured out this critical relationship will need to do so in 2018, or likely be shown the door.
3. A new Chief of Staff to the CMO, Marketing Operations
These trends, along with the newfound pressure for marketing to run more like a business, have created a new VIP on the marketing team; Marketing Operations. For many organizations, MOPs has emerged as the most capable resource to step in and help the CMO in their quest, especially with responsibilities related to data cleanliness, marketing resource management, and marketing performance management.
Every CMO today must be in total control of their organization and its results – and Marketing Operations is the key player in reaching that vision.
This is only a short article summary. Read the full article on Chief Executive: “3 Things CEOs Should Expect From Marketing In 2018.”