B2B marketing - Wanted: more commercial CMOs
The Capsicum Group
New research has revealed that a disconnect between business leaders and their marketers is threatening growth. Bev Burgess gets to the root of the problem and explains how to close the gap.
If ever there was a time for business to be market-led, this is it. Our business-to-business service sector, responsible for around 11% of the economy, is struggling. Yet the latest research from The Capsicum Group shows that marketing is not playing the full role here in driving growth that it does in other industries. A large part of the problem is a marked disconnect between the people running these businesses and their marketing teams.
Lack of business acumen
At the heart of this disconnect lies the fact that marketers lack the necessary business acumen and connection with customers that their colleagues expect. They measure their contribution in terms of brand awareness and opportunities to view, rather than the metrics of the business: orders, revenue, profits. As a result, marketing teams within service companies such as IT, telecoms, professional services and facilities management have shrunk over the past five years and have been 'demoted' to focus on tactical operations.