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B2B marketers now face more obstacles than ever before. Between a tough business environment that has led some companies to cut marketing spending, an explosion of digital marketing channels and a heightened focus on analytics, it’s no wonder that today’s average lifespan of a CMO is fewer than four years — nearly half the tenure of other C-level executives.
Within some companies marketing is viewed solely as a cost center, an expense. As a result, many marketers are faced with resistance when having their budgets approved by finance.
But marketing is an asset that drives revenue, and is vital to the overall growth of a company — which is why it should be important to your CEO, your executive team and your board of directors. You need to position marketing to your CEO in terms of the revenue it delivers, not the budget and program costs.
To make this happen you must align your marketing strategy with major company initiatives and have a plan in place that is measurable and can demonstrate an impact on bottom line sales.
Here are some best practices:
CEOs — and your executive team as a whole — have the ability to facilitate the success of your marketing organization. By proving the value and worth of your department you will earn yourself a seat at the table and cement marketing’s role as a contributor to the bottom line.
Chris Chariton is senior VP of product management & supplier marketing at GlobalSpec. She can be reached at CChariton@globalspec.com.
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