Why are CMOs being fired twice as fast as any other C-suiter? Why are major corporations like Old Navy, Taco Bell and Miller Lite letting their marketing executives go? A recent article by Jonathan Salem Baskin questions why there is so much turnover in the marketing C-suite.
Is marketing changing? Sure. Is the marketing landscape beginning to flatten with the use of social media? Possibly. Maybe it’s as Jonathan suggests, maybe they deserved to be fired.
Lack of Accountability
Serfwerks believes that in many companies marketing is the last function to reject all accountability. Is there a change coming? Could this be why companies are moving on without their top marketing executives? Are we finally seeing the day where there are no more bottomless marketing budgets used to explore “creative” ideas? Are CEOs finally requiring CMOs to measure their marketing ROI? We sure hope so.
The Case for Accountability
A recent study by CMG Partners and Chadwick Martin Bailey found the following:
– 75% of companies are highly interested in marketing measurement
– Less than 25% of companies are excelling at measuring & improving their marketing performance.
– 98% of those excelling at measuring and improving marketing performance say it is having a significant impact on their business.
– 55% of those excelling at measuring marketing performance are gaining market share.
If only 25% of companies are measuring their marketing performance it must be difficult to do. On the contrary. It’s rather simple. If you can look at past performance, define you key performance indicators and outline your sales cycle. You can measure your marketing with a 95% accuracy.
Are you measuring your marketing performance? Now is the time to do it. Don’t be the next marketing department casualty. Start being accountable today.