Some 46% of senior executives rated the performance of their marketing team as very good or exceptional in 2020, and 45% rated it as moderate, according to recent research from the CMO Council.
The report was based on data from a survey of 120 senior management executives across companies of various sizes and industry sectors.
Asked about leadership gaps and holes in their marketing organizations, business executives listed the primary areas where they see a need for more skills, proficiency, and capability.
The survey also asked in which performance and value creation areas business leaders are looking for marketing to step up.
The solution, according to business leaders, may not be in-house: Many executives said interim or fractional marketing leaders can add value, primarily by introducing new ideas and ways of thinking into the marketing department:
Other findings from the study:
- Revenue and sales growth is the top deliverable for Marketing, report 80% of survey respondents, with customer acquisition and profitability a close second (71%).
- 69% of business executives say they are extremely or moderately confident in Marketing's ability to lead growth recovery in 2021.
- 84% say they are closely, regularly, or increasingly interacting with their marketing team.
- Collaboration and alignment between lines of business, functional areas, and Marketing is viewed as close, balanced, effective, and well-integrated by 37% of respondents; the same percentage say it is getting better all the time.
About the research: The report was based on data from a survey of 120 senior management executives across companies of various sizes and industry sectors.
