The responsibilities of the marketing area have increased (and it is good that it is so) – PR News in Spanish

Marketing work is currently one of the most demanding and not only because it requires hard and soft skills to generate tangible results, but also because as companies grow and/or face challenges in their macro and micro environment, efficiency must be the best possible. . For this, you cannot skimp on the talent, the tools and the plans that can make a brand an element that stands out in its market to generate profitability for the business.

Not many years ago, marketing was still seen as an adjunct to the area of ​​administration, purchasing or sales. Today, the most competitive companies not only have a dedicated marketing area, but also house special budgets that come from revenue with a precise measurement of returns per unit, per campaign, and even per vertical. Marketing is a combination of business, finance, advertising, communication and sales disciplines that must be well balanced to grow a business and return investment to its shareholders.

Nike, McDonalds, Starbucks owe it to their shareholders and to continue in business, these and all brands must strengthen their strategies to design tactics that add value in all the aforementioned directions.

According to a measurement published by Marketing Charts, the responsibilities of the marketing area have increased since 2020, with brand, advertising, digital marketing and social media being the ones that have grown the most; It is not a surprise when we consider that the pandemic strongly reconfigured the digital ecosystem as we knew it, accelerating the adoption of technologies and the digitization of businesses and brands by several years. An example of this is the market research industry, especially in the B2C field, where surveys, traditionally conducted in person, became completely online and most of the time with sample providers to obtain significant findings. .

The consultant indicates that the marketing area is mainly responsible for the brand or brand in 94.1%, unlike the 90% expressed in 2020. Other main responsibilities cited by at least 9 out of 10 respondents include advertising (92.3%, up from 86% in 2020) and digital marketing (90.5% currently up from 86% in 2020). As an area, they are under more pressure to achieve much more ambitious business and brand objectives, which requires better coordinated work teams to achieve the objectives. Without this, the effective operation of marketing as a critical area of ​​the business is difficult. In the part of the role of the Chief Marketing Officer (CMO), the promotion of the brand went from 65% to 77% currently; marketing analysis from 66% to 77% and market research from 60% to 73%, respectively.

This data could be interpreted as a heavy load for brand marketing departments and their leaders, but it is rather a great opportunity to prove yourself against your peers in the Olympus of C-level executives, where they are sometimes See it more as an expense than an investment. It is generally good that the responsibilities grow as the talent, effectiveness and efficiency of the strategies are put to the test. Only leading brands see challenges as opportunities.

Sources:

CMO Survey https://cmosurvey.org/wp-content/uploads/2023/03/The_CMO_Survey-Highlights_and_Insights_Report-March_2023.pdf

McKinsey https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-ten-rules-of-growth

marketing charts https://www.marketingcharts.com/business-of-marketing-229187