Why CEOs cut your marketing budget and what you can do about it.
By Kelly Sargent.
Marketers everywhere are rethinking their position, because they have to.
The old story of CEOs cutting budgets and marketers being forced to reconsider their roles is one we’ve heard for far too long; but why?
As marketers you are a consumer -savvy creative, and often told to ‘do more with less’ with little support or direction. Sometimes, it’s a rough deal. Here’s why CEOs cut budgets and what you can do about it:
- CEOs think marketing is a department.
Great Marketers know they are storytellers who make shit happen.
CEOs see marketing as a department, or an activity – just as they see social or digital as an arm of that activity. Yet great marketers understand they’re not just an activity or department – they’re storytellers that make shit happen. They are movers and shakers, they put the A in Activate. They’re petrol to a car, WiFi to a PC and indispensable to a business. Marketers need to lead a bigger transformation, they must break down department silos and bring a new culture of emotive content, digital and social to a business. Although this is no small feat, changing minds and hearts, but take peace knowing if you achieve it and everyone agrees on a common digital strategy, great magic marketing things happen.
- CEOs think marketing generates leads.
Great marketers understand this is a minimum, and helping customers is separate to what product or service they’re selling.
Yes you have great products and services, you need them– but this is a starting point in today’s world. Great marketers understand this is bare minimum. The trick is helping your customers beyond your offering, this keeps you and your business relevant.
- CEOs believe digital and social is an extended activity that marketers ‘do’.
Great marketers know digital and social is not something you do; it’s something you are, as a company.
Digital and social marketing has exploded; the number of social and communication channels, the abundance of content, and the rise of social networking have changed the buying behaviour of customers. Traditional methods to manage customer experiences fail to address new digital customer needs. Be there or be square.
If marketers are able to change the mindset of their CEOs by leading them to understand marketing is an investment, not an expense; your role as a marketer will change If you understand this, use your marketing magic to transfer this view, and your CEO won’t cut marketing budgets, he’ll see the investment, not the expense.
Need more creative thinking to get your marketing to connect? Contact wildminds.