70% of CEOs have lost trust in marketers
The majority (70 per cent) of CEOs have lost trust in marketers’ ability to deliver growth after becoming frustrated by what they see as an inability to prove ROI on campaigns, according to a new report.
More than a third (69%) of CEOs say they have stopped enforcing key business objectives and indicators on marketers because they have “continuously failed” to prove marketing strategies and campaigns delivered business growth.
The report says that many CEOs have marketing departments “purely out of tradition” and have “made the conscious decision not to expect more from marketing than branding, look/feel good ads and promotions”.
CEOs feel marketers “live too much in the brand, creative and social media bubble”. They would like marketers to be more ROI focused and able to account for very pound spent and measure its positive impact on P&L.
Just 20 per cent of CEOs consider their top marketers to be ROI marketers but those that do believe they have a “solid influence” within the organisation and could go on to senior management.
The report by Fournaise Marketing Group is a follow up to a previous report earlier this summer which identified that 73 per cent of CEOs believe marketers lack credibility because they cannot prove the business impact of marketing.
However, of these CEOs, 70 per cent admit that their own lack of trust and attitude is to blame for the poor reputation of marketers.
Jerome Fontaine, Fournaise’s global CEO and chief tracker, says: “Whether we like it or not, what CEOs are telling us is clear cut: they don’t trust traditional marketers, they don’t expect much from them. CEOs have to deliver shareholder value. Period. So they want no-nonsense ROI Marketers, they want business performance, they want results.
“At the end of the day, Marketers have to stop whining about being misunderstood by CEOs, and have to start remembering that their job is to generate customer demand and to deliver performance. This is business. When is the last time you heard CFOs whine about being misunderstood by CEOs?”
The findings are part of the Fournaise 2012 Global Marketing Effectiveness Program, which has interviewed more than 1,200 CEOs across North America, Europe, Asia and Australia.