Advice for marketing executives during tough times
September 04, 2008 |
During hard times companies often cut back on marketing budgets. As business becomes more competitive, marketing executives face increasing pressure to demonstrate the value that their function is adding to the firm. Harvard Business Publishing offers some suggestions.
Chief Marketing Officers (CMOs) are usually under pressure because most organizations see marketing as a cost center and are not aware of how it is contributing to the bottom line. This can lead to a crisis of credibility and a loss of power for the marketer. CMOs have a very high turnover rate. Here are a few suggestions that may help CMOs gain credibility and make a positive difference for their firms:
1. Have a thorough understanding of how the business runs
2. Speak the same language as other executives
3. Align yourself with the rest of your executive team
4. Find the right reporting tools
5. Measure your way to a seat at the table
Get the full story at Harvard Business Publishing
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