Given the crucial role CEOs play in determining the future direction of any business, it would make sense they are able to analyse and appreciate the fruits of the marketing team’s labour.
However, Marketing Week’s exclusive Language of Effectiveness Survey reveals senior leaders may not be seeing marketing effectiveness results with the same regularity as others in the business.
Less than a third (31%) of the 1,610 brand-side marketers responding to the survey share effectiveness analysis with the chairman or CEO, while just a fifth (20%) present the results to board members.
Within their businesses it is far more likely effectiveness results are shared primarily with marketing/brand managers (48.3%), followed by senior marketing/brand managers (46.5%).
Less than half of respondents (43.5%) say effectiveness results are shared with the CMO/head of marketing, while 41.7% report analysis is presented to the marketing or brand director.
ROI is the number one metric (52.6%) presented to stakeholders to demonstrate success, followed by the revenue generated (52.2%) and acquisition/retention figures (49.3%).
Some 42% of the marketers surveyed communicate with stakeholders about category/market share growth (42%), while just over a third (37.4%) dig into the profit generated.
The interest in presenting return on investment figures chimes in with the wider Language of Effectiveness data, which reveals a third (36.9%) of marketers say ROI tracking has increased in emphasis.
Moreover, this prioritisation of ROI would make sense if results are being shared regularly with the CEO, as return on investment is considered the most important metric for CEOs, CFOs and boards, according to almost half of marketers (48.4%).
While there are many hurdles to climb in generating meaningful effectiveness data to build the business case for marketing, the statistics suggest marketers may need to start sharing the analysis more widely if they want to inspire and engage the entire business.
Marketing Week is continuing its focus on effectiveness, exploring how teams are being resourced to analyse this data and how success is being communicated.