‘Lack of credibility’ hinders marketing influence
A perceived lack of credibility is restricting the marketing department’s ability to influence future business strategy, according to research from B2B Marketing and Avention.
Respondents were asked to highlight the main factor serving to limit marketing’s influence on business strategy, and responses hinting at an ongoing lack of credibility came out on top, with 17 per cent citing senior management’s lack of faith in the department, 14 per cent lamenting a lack of credible forecasting data and further 14 per cent admitting that a ‘lack of understanding of markets and business potential’ was holding them back.
Although 20 per cent suggested that nothing was holding marketing back from influencing wider business decisions, the 80 per cent still struggling to make their voices heard is cause for concern.
Alex Aspinall, head of content at B2B Marketing said: “Despite a wider industry narrative suggesting marketing is seizing more power and significance in and around the upper echelons of B2B organisations, it seems there are still plenty of marketers suffering from the image problems of old.
“Obviously the exact solutions to these challenges will differ from business to business, but a commitment from marketing leaders to ensure their departments are focused on delivering in line with wider business strategy has to be the starting point.
“Once the marketing department is recognised as a driver of business growth, suspicious minds will be won over and marketing’s ability to influence will increase.”
This report explores the readiness of B2B marketers and their organisations to embrace the power of predictive insights, both in terms of practical matters such as data cleanliness, budget and organisational barriers, and in terms of the mindset shift needed for marketing to be more proactive.