A recently published media release from Fournaise, it was revealed that 80% of CEOs don’t trust marketers. This finding is both disturbing and understandable.
We already wrote about this finding, but felt it would be fun to share a fabricated story of examples we’ve seen in the past.
There are a myriad of ways that marketing can go awry – and, the sad reality is that those problems are often not seen until a lot of time, effort and money has been spent.
There is a disconnect between the CEO and his/her marketing component. Here’s just one example, of many, as to why marketing fails to meet the expectations of the CEO.
The CEO calls up the CMO and says, “We need to market our product better. Let everyone know what we do and why we are the best in the industry.
To which the CMO says, “I’ll get right on that.”
(We pause here for a minute to illustrate that no specific objective, which will positively effect the company’s revenue, profit margin, or sales has been addressed… let’s continue.)
The CMO then goes back to the office, and informs the marketing team that they need to develop a campaign that will bring a lot of attention to the company – its products and services.
The marketing team then draft ups three solid ideas on how best to drive traffic to the company website.
The CMO then reports back to the CEO and says, “Here is a report of our work for the last six months; you can see that we’ve increase web traffic by 15% and our social media following has increased by 3% week after week. We now have a following of more than 1.5 million online.
The CEO is noticeably impressed with the work the marketing team has done, and patiently waits over the next three months to watch for sales conversions.
After a reasonable amount of time passes, the CEO reviews the numbers and notices that there was some improvement in the overall marketing, what has actually occurred is the company’s profit margin has diminished greatly due to the overhead cost of marketing.
We regularly hear this story, or versions of this story, from our clients; marketing doesn’t work [effectively]!
We couldn’t agree more! We solve these types of issues… give us a call, or fill out our contact form online.