According to a recent study by Fournaise Marketing Group, a stunning 73% of CEOs think marketers lack credibility and are not business growth partners.  This is a very sobering statistic for marketers to consider.  Additionally, the study reveals that while 69% of marketers think their campaigns make an impact, they cannot prove it. 

There is obviously a significant disconnect between marketers and the executive teams they answer to. While the above-mentioned study does a great job of discussing the various reasons for the credibility gap – I think it presents a challenge.  How do marketers earn a seat at the executive round table? 

You may have entered a career in marketing because it sounded fun, creative, and maybe even sexy.   You may not have thought that you needed to ever think in terms of ROI. A few things to think about: 

1. Focus on results and don’t be distracted by the latest “shiny object” marketing trend.  Remember that while new marketing trends may warrant testing and exploration, they shouldn’t keep you from focusing on:

  a. Optimizing conversion rates of campaigns that are running today

  b. Nurturing and engaging leads that are in your database

  c. Developing relationships with existing customers that will improve their loyalty to your product/solution

2. Learn the language of your CEO and CFO.  If you want them to listen, you must talk in terms of tying investments in marketing to revenue.   Reduce your focus on the more nebulous discussions around brand awareness and positioning. 

3. Demonstrate commitment to identifying revenue contribution of marketing spend.  While this may be an intimidating concept, it is critical to gaining credibility with the executive team. 

  a.  Develop a dashboard that is tied to results – not activity.  The dashboard might include marketing funnel metrics such as: 

   New leads by source
   Cost per lead per campaign / source
   Opportunities created
   Conversion rates

  b. Develop a road map for your dashboard with the goal of continuous improvement in your ability to learn from the results of your activity – and apply the learning to improve ROI.

The world of measuring the impact of marketing dollars by the number of impressions delivered to target customers is dead.  In that world, the winner was invariably the marketer with the biggest wallet…as they could afford the lion’s share of impressions delivered to the captive audience through network television, print, and radio.  The “Mad Men” of that world enjoyed the power of directing a one-way presentation of their brands to audience who paid attention. 

While customers have been leery and weary of marketing messaging for decades – they had no good alternatives.  Enter the boom in digital technology, which turned the captive market into an unpredictable, unforgiving, and demanding master.  The market goes wild.  Thanks to TIVO and DVD-R, we have winnowed the number of minutes we watch tv ads to nill (except Super Bowl Sunday).    Thanks to Sirius radio, iPods, Pandora and Spotify, we no longer listen to the radio.  Okay, I admit, there is one exception for me– Public Radio.  Once, subscriptions to Time Magazine, the Economist, Vanity Fair, and Traveler were essential to staying current and educated.  Enter in 24x7 news world and iPad.  Why would I want to clutter my mailbox and coffee table when up-to-date news fits neatly into one electronic device?

What would Don Draper think of this new world? 

I think he would go stark raving mad.

According to Eloqua’s recently released 2012 Marketing Skills Gap, 75% of marketers say their lack of skills is impacting revenue in some way, and 74% say its contributing to misalignment between the marketing and sales teams.

Beware if you are trying to build demand for your business using the methods of the past.  The new market requires a new way of marketing.  Eloqua summarizes the 5 must have B2B marketing skills. These include Content Marketing, Funnel Mindedness, Social Media, Analytics and Technology.