A new study by The Economist Group is the latest to find that C-Suite executives often undervalue the role that marketing plays in helping to achieve objectives due to a disconnect between higher-ups and internal content teams.
The ‘Wanted: CMOs with 2020 Vision’ report found that a fifth of executive-level managers still have a ‘take it or leave it’ mindset towards marketing despite the considerable benefits that cost-effective campaigns can bring to a business.
This may be due to the fact that senior managers rarely look beyond core goals such as driving revenue and bottom line.
Around four in 10 CMOs prioritise brand purpose, for example, while only 25% of C-Suite executives believe that this ‘mission’ is key to business performance and prospects.
CMOs are also more likely to focus on short-term marketing objectives than their executive counterparts.
The Economist Group’s executive VP, Nicolas Sennegon, said that the report could help to build bridges and bring teams together at a time when pressing challenges need to be addressed.
“If there’s one thing that’s clear from this research, it’s that despite their best efforts, marketers may be missing the mark when it comes to communicating with their colleagues – both inside and outside the marketing department,” Sennegon added.
The survey of more than 1,000 professionals, which took place during the summer, also found that there is a divergence within marketing teams on the best path forward.
More than two-thirds of non-CMO marketers believe that campaigns should be planned across a two-year period, while 23% would rather pursue a longer-term, five or six-year schedule.