Marketing enables businesses to develop and enhance relationships with clients, directly impacting profitability and sales. But does your company understand and value the role marketing plays?
According to findings from Marketing Week’s annual Career and Salary survey, just over a third (34.8%) of respondents said their company completely understands marketing, viewing it as an investment and placing it at the heart of everything across the organisation.
Worryingly, half (50.2%) say marketing is only somewhat understood and 13.5% say the rest of the business does not understand its role at all.
So, what industries have a better understanding of their company’s marketing efforts, and which ones are lagging behind?
The research, which surveyed more than 4,000 marketers from a range of seniority levels and across 24 different industries, revealed that agencies have the best grasp of marketing, with 54.9% of those working in such firms saying the department is completely understood. Completing the top three were the gaming and gambling sector (53.3%) and FMCG (51.3%).
But this level of understanding is not shared across all fields.
At the other end of the spectrum, organisations in the public sector and the utilities sector have a poor comprehension of marketing, cited by 22.4% and 22.3%, respectively. Perhaps most concerning of all was the finding that those in the construction and property market have the worst understanding of this department’s role, with less than a fifth (17.5%) of marketers in this sector feeling like their company acknowledges their importance.
But what is the reason behind this discrepancy in understanding?
CMO at UKTV, Zoe Clapp, believes marketers might be partially to blame. Speaking to Marketing Week, she explained: “Part of the problem is the language marketers use. We use so much jargon and what we’re trying to do is a very simple thing: we’re trying to grow market share and grow the business.”
To increase the understanding of the role marketing plays within a company, marketers need to make sure they communicate clearly with the whole organisation. After all, everyone in the business is working towards the same goal — to boost profits! By opening up internal communication, you’ll help to break down organisational silos, boost creativity, and deliver a clearer external message.
If you’d like to boost your company’s B2B marketing efforts this year, give Chapman Consulting a call today.