Company culture is killing business innovation, says report
A lack of support for innovation in the B2B marketing sector is severely impacting industry progress, according to research from B2B Marketing.
Despite 91% of marketers wanting to become more, or much more, innovative over the next 12 months, few feel they have a culture or board that backs them.
The innovation benchmarking report also found only 30% feel strongly that their organisation’s culture supports innovation and only 49% said they have backing from their board and senior leaders in this area.
This is despite the board and culture being seen as the most important contributors to innovation in marketing.
“Clearly, more work must be done to back innovation in B2B marketing at a senior level,” commented Mary-Anne Baldwin, head of content at B2B Marketing.
“Without support from the top, and right through the business, marketers will not feel empowered to make the bold decisions that drive their company forward.
“That’s a real concern, because in today’s fast-moving, customer-centric environment, failure to evolve is fatal.”
The need to carve out resource
The lack of support for innovation in B2B marketing means few have the resources they need to drive new ideas through to profitability.
The survey of 200 B2B marketers, which was carried out in partnership with Circle Research, found 90% of respondents want dedicated time for the team to pursue new ideas.
In addition, 73% of B2B marketers want a specific budget for innovation, yet only 23% have one.
“If the support isn’t already there, it’s the responsibility of marketing leaders to earn it. That means carving out resources from the existing pot to drive innovation at a small, safe and steady scale,” added Baldwin.
“A huge amount can be learned from the tech sector, where continuous iteration and failing fast are both embedded in the culture.”
Your guide to building a culture of innovation in B2B marketing. This report filters out the babble to provide practical case studies and advice from tech-based marketers on how to foster a culture of innovation within your team, and how to use that mindset to drive ROI.