There are good reasons to outsource marketing and many companies choose to do so. Let’s look at more CMO Survey results to get a sense of what types of firms are outsourcing marketing and what financial and strategic conditions appear to give rise to outsourcing. (more…)
The CMO Survey Blog
I asked top marketers to report how much they expected their companies to outsource marketing in the next 12 months. This percentage has grown over time as shown in Figure 1. In fact the last measurement, taken in August 2011, grew by over 100% over the prior year! (more…)
The CMO survey reports that companies anticipate hiring 7.2% more marketers in the next 12 months. The survey also shows that consulting companies will experience the largest increase (+17.3%) followed closely by manufacturing (+14.9%), technology (+12.5%), banking/finance (+11.9%), and healthcare/pharmaceuticals (+8.3%). (more…)
The August 2011 CMO Survey asked top marketers to report on hiring plans by responding to the forward-looking question, “Compared to the number of marketing hires last year, by what percentage will your firm’s marketing hires change in the next year?” The response was encouraging. Marketers report their companies will hire 7.2% more marketers in the next 12 months than they did the year before. These numbers are up from 6.2% in February 2011 and 4.0% in August 2010, but down from a high of 12.9% in February 2010. (more…)
In the August 2010 CMO Survey, I asked top marketers the following question: What is marketing primarily responsible for in your firm?
Marketers were then asked to check from a list of strategic, tactical, and financial activities in firms. What I found is in the table below.
At least a couple worrisome thoughts arise from these results. First, while marketing is playing an important role in brand and social media in most organizations, marketing’s contributions to the key strategic activities of the firm are sadly absent. This includes marketing’s weak contributions to key strategic activities such as market entry, innovation, CRM, sales, distribution, and targeting.
Ask any top business school marketing professor what marketers do and they will likely respond with something like the 4Ps (price, promotion, place-distribution, and product) and the 3Cs (customers, competitors, and company). This leads to the second worrisome thought. I think it is pretty clear that marketing is NOT doing what ivory tower marketers think it is doing or would like it to do. This little fantasy that marketing does important things contributes to a problem among many marketing academics, which is that they don’t contribute to building knowledge about successful marketing.
What’s happening in companies that keeps marketing professionals from making the contributions we train them to believe they should be making? Or is the problem that academic marketing research and training need to change to increase the value of marketing to companies? If not us, who?
What is Marketing Responsible for in your Firm? (n = 332 responses)
|Activity||Number of people checking||Percentage of
|Market entry strategies||190||57.2%|
|Customer relationship management||147||44.3%|
|Stock market performance||4||1.2%|