COMPANIES WANT MORE FROM MARKETING THAN CAMPAIGNS, RESEARCH SHOWS - ScreenVoice.cz

Marketing directors are often co-responsible for the growth of companies. A third of respondents consider them key players. They should therefore focus more on growth strategies, according to research from Confess Research presented at Brand Management.

The survey of more than 100 companies with in-house marketing teams found that 76% of respondents attribute responsibility for company growth to chief executive officers (CEOs). However, the role of chief marketing officers (CMOs) and chief commercial officers (CCOs) is also important, at 34% and 30% respectively. According to new research by Confess Research for Marketup, the current weakness of marketing is that it focuses primarily on campaigns and limited innovation. The research findings were first presented at Wednesday's Brand Management Conference.

A third of respondents identified the main weakness of marketing as being too much focus on campaigns at the expense of long-term strategy, particularly for organisations with more than 200 employees. Other weaknesses include low innovation or focusing only on marketing numbers. A data-driven approach should be the standard.

"It follows that marketing should deliver growth strategies, not just campaigns, and should understand the numbers, the financials and the business model as well as the CEO or CFO. Marketing that uses the language of business and investors has a better chance of gaining decision-making power and becoming the engine of corporate strategy," Petra víšková from Confess Research explained on behalf of the implementers.

Source: Confess Research for Marketup, presentation on Brand management

According to the survey,the driver of innovation is primarily the company's leadership (36%), but also marketing (22%). While CMOs emphasize their own contribution, other executives tend to attribute a key role to top management. Marketing is then most involved in product launches and customer analysis, less so in the development itself.

Marketing hasthe most decision-making power in communication (98%). In contrast, only 62% of respondents report full or partial competence in pricing. If marketing does not have influence on communication, this is a mistake, according to the companies, while in distribution the absence of such powers is perceived as natural.

Marketing departments, according to the research, should focus mainly on improving data handling and measurement (56%), followed by a better understanding of the business and the financial impact of activities (55%). Almost half (47%) then emphasise the integration of customer needs and CX. The biggest barriers to unified CX management, according to respondents, are fragmentation of responsibilities (43%) and lack of strategy (39%).

Respondents see revenue growth and customer lifetime value as the most important performance metrics for CMOs, followed by retention metrics (NPS referral rate and CSAT customer satisfaction ). CMOs themselves place less emphasis on customer value than other management, but place more emphasis on profitability.

About the research

Method: CASI (self-administered online questionnaire)

Sample: N=108

Target group: companies with 11 employees and their own marketing team

Surveyrespondents: members of the board and management of these companies (of which 45% are marketing directors, CMOs, marketing managers, 27% CEO, 11% CCO, 5% CFO, 11% other member of senior management, 1% HR chief