Unveiling the report at Cannes Lion festival, Marc de Swaan Arons, founder of EffectiveBrands, one of the organisers of Marketing2020, said: “Marketing has caught up with the rest of the board in terms of accountability. Now we need marketing to step up and lead.”
The study also looked at the correlation between the brands that over-perform in the Fortune 500 and the 30 per cent that stated that ‘big data’ contributes to their success. “Under-performers are not guided by big data, whereas the over-performers have integrated it into the way they work,” said de Swaan Arons.
The first part of the report is based on a study of 1,400 CMOs in nine countries. Marketing Week has partnered with EffectiveBrands and ISBA to extend the study with the aim of publishing the most comprehensive study of brands, marketing and the marketing ever conducted. To take part click here.
The report’s findings contrast with those in a recent study by the Chartered Institute of Marketing, which found fewer than half (45 per cent) of UK marketers have guaranteed involvement in the development of new products and services.
Findings of Marketing2020 study in brief.
- 58 per cent of senior marketers agree that marketing works closely with the chief executive to establish the company’s strategic growth agenda, compared to 38 per cent in 2006.
- 33 per cent say that the marketing team approves large, growth oriented investment decisions
- The companies that over-perform in the Fortune 500 say that the importance of big creative ideas will increase – 53 per cent, while 68 per cent say that engaging consumers will increase.
- 73 per cent of marketers in over-performing companies believe that brands with a clear societal purpose will drive more business growth. The figure is 6 per cent for those in under-performing companies.
- 71 per cent of marketers in over-performing companies believe that they are able to preserve their brand’s consistency as marketing goes digital versus 60 per cent for under-performing companies.
- 53 per cent of marketers in over-performing companies work with more than five agencies while only 33 per cent of marketers in under-performing companies do so.