In our annual Tech Heads study of B2B marketing and comms execs, we've discovered a series of problems around strategy, competitive pressures, internal priorities and coping with innovation.
Marketing and comms execs are so overworked that they routinely work longer than their contracted hours. 77% admit to being stressed, 62% believe that their businesses don't see marketing as strategic in its approach, and 55% spend too much time fixing past problems.
In this presentation, we uncover:
- The key drivers of marketing and comms execs' stress levels
- Ways to re-think, renew focus, disrupt and de-stress
- How to get your breath back by becoming slick, smart and strong
- How to develop a strategy that aligns with wider business goals
5. So what does that mean for
CMOs & Heads of Comms today?
5
6. CMOs and Comms directors are facing
change from all directions
1. Marketing innovations:
The toolkit is changing
2. Disruptors:
Keeping up with the
competition
3. Business uncertainty:
Less money, more to do
7. Top commercial challenges for
the marketing function in 2017
51%
49%
42%
42%
42%
40%
39%
32%
30%
Keeping pace with marketing innovation
Changes in the competitive landscape
Budget cuts
Bringing new products and services to market
Potential downturn in economy due to Brexit
Differentiating from the competition
Skills and talent acquisition
Budget justification / accounting for performance
Global instability as a result of Trump presidency
7
8. And it’s taking its toll personally
Causes of stress
1. Too much to do
2. Keeping up with competitors
3. Lack of skills
4. Lack of support from the board
Stress compared to last year
Feel more stressed
than last year, 65%
Don't feel more
stressed, 35%
8
10. 51%
see marketing innovation as a major challenge
– the biggest challenge they face
How to do we know what’s innovation and what’s hype?
10
11. Algorithms Vs Art
Marketing is becoming a technology-based discipline
.
11
25%
37% 38%
16%
46%
38%
Commercial Technological Creative
2016 2017
Strongest area of knowledge for CMOs/Comms
Heads
12. 12
55%
52%
45%
42%
40%
36%
34%
3%
Digital customer experiences
Web / mobile development skills
Marketing automation software
Data analysis / forecasting
Programming / application development skills
Digital operations / planning
Social networking (e.g. Facebook, LinkedIn, Twitter)
We are not investing
Businesses are striving to create a digital customer
experience
Planned investments
for 2017
13. 13
In businesses where marketing is viewed as strategic,
there is a heightened focus on programmatical
marketing
51%
54%
58%
51%
36% 36% 37%
1%
58%
51%
38% 36%
43%
37%
32%
5%
Digital customer
experiences
Web / mobile
development skills
Marketing automation
software
Data analysis /
forecasting
Programming /
application
development skills
Digital operations /
planning
Social networking
(e.g. Facebook,
LinkedIn, Twitter)
We are not investing
Strategic Non-strategic
Planned investments for 2017
15. Who’s going to disrupt my industry?
15
say they are under pressure
from new, more agile competitors
63% say changes in the commercial
landscape are a major challenge
for marketing
49%
19. So get to know your customers
and look for the white space
55% of businesses say they need to get better
at understanding their customers.
But in businesses where marketing is seen as
strategic, this rises to 63%.
Customer
19
21. Are you getting the most from
your marketing/comms spend?
21
say they need to make
smarter investment decisions
58% need to get more
from their people
58% need to make better
use of technology
57%
22. Of strategic
importance
Something we have to
do to stay in the game
Of fairly low
importance
A bit of a black box
Marketing is undervalued in many B2B businesses
22
38%
26%
25%
10%
Perceptions of marketing and comms in the business
23. Innovation, customer
understanding & skilled
workforce
Smart investment, get
more out of people
& technology
Businesses are looking to be smarter and slicker
What should your business prioritise for improvement?
Intelligence (smarter)
Efficiency (slicker)
Business Culture
(stronger)
23
Strong leadership &
a clear strategic plan
44% 40%
16%
24. 1. We have reached a tipping point in marketing. Technology skills are
now at least as important as creative skills
2. Obsessing about the competition is stressful and won’t stop them
disrupting you. Knowing your customer better is more constructive.
3. Businesses want to be smarter and more efficient. And that means
they need to take a breath and think.
In summary
24
25. Planning: My budgets are
approved too late!
Strategy: We’re not seen as
strategic
Efficiency: We get caught up in
supporting tactical business
needs
Innovation: We lack in-house
skills to use new technology
Culture: We’re too internally
focused
The business operations
lags behind the strategy
Marketing is defined by
activities and output, not
goals
The business expects too
much from internal
resources
Tech moves fast and people
cost money
Intimidated by external
audiences: Competitors &
Prospects
Challenge Cause
Breath-back-
Factor
Build your strategy with contingency
for budget options. Looking ahead
costs nothing.
Create a simple, shareable plan that
aligns marketing to company strategy.
One page!
Stipulate informal SLAs with key
stakeholders and prioritise, prioritise,
prioritise!
Agency partners to bridge the gaps.
Seminars, networks and online
training for in-house team members.
Competitor and customer research,
validated, circulated and embraced.
Solution
Five breath lessons for a breathless business
25
Businesses are losing their capacity to plan for the future, as planning cycles get shorter, and long term strategies become a thing of the past.
Businesses are losing their capacity to plan for the future, as planning cycles get shorter, and long term strategies become a thing of the past.
Businesses are losing their capacity to plan for the future, as planning cycles get shorter, and long term strategies become a thing of the past.
CMOs and Comms directors are facing change from all directions.
CMOs are just running out of time. They are more stressed than they have ever been and they need to find ways work either slicker or smarter to get ahead. What they don’t need is a load of internal changes which creates resistance and slows people down further. While it’s important to have a strategy, businesses need to find ways to implement strategy in leaner ways.
Faced with a sometimes bewildering array of digital marketing techniques and channels, they struggle to figure out which are genuine innovative vs fads and which are relevant to their business. Who knows which they should be using, an which the CEO might have heard of and challenge the on?
At the same time, they have to stay on top of the competition and what they are doing. Most importantly, they need to spot the disruptors as they enter the market. It’s not so much what you know these as days as what you don’t know. And they recognise that they need to understand their customers better, because it’s by tapping into customers’ unmet needs that the disruptors create an advantage for themselves.
Julie Doleman, managing director of global expansion at Experian Consumer Services described how Experian, despite having enjoyed consistent success and having billion dollar product lines, is constantly trying to disrupt its own business, because if it doesn't, the disruption will come from outside. "The best time to disrupt yourself is when you're high on the drug of consistent growth. It’s fine to ride the wave [of success] but you must always have a part of the business that’s figuring out how to disrupt," she said.
"But if we don't disrupt ourselves, we're open to disruption from two guys working from a garage."
Businesses are under pressure from budgets as they deal with an uncertain world.
But only a minority view marketing as strategic