Marketers’ Impact on Sales Finally Getting Recognized
In the traditional view of a company’s internal hierarchy and the income-generating contributions each department provided, the marketing team usually didn’t fare so well. To paraphrase an old saying, marketers got no respect.
The common perception (and misconception) was often that marketers were busy spending money, as opposed to making it. Of course, we marketers always knew the reality that we were in fact responsible for helping our businesses make quite a bit of money. The problem was, we performed what often seemed to be a supporting role, making it easy for others to overlook or underestimate the part we played in generating business and bringing in revenue. This is why in the past, the marketing department was generally considered a cost center, and rarely viewed as a revenue center.
However, there are optimistic signs that the tide is finally starting to turn. We have noticed that marketing teams and the people who lead them are, at long last, beginning to be recognized for their efforts. Others in leadership positions are acknowledging marketers for their efforts overall and more specifically for their direct impact on sales and revenue.
In a recent AdWeek story, several CEOs and successful leaders of hugely profitable companies acknowledged CMOs and other marketing leaders as the keys to a financially successful and competitive business. Perhaps more importantly, they also credited marketers with being actively responsible for generating considerable sales and increasing revenue.
The executives cited marketers’ unique insight into both customers and the data surrounding them. The value of this knowledge and insight is critical to generating sales. In today’s high-tech landscape, gathering and interpreting a large volume of data is essential in understanding where to connect with potential customers, how to influence their decision-making process and what motivations are driving their buying behavior.
The mastery of this vital data coupled with the knowledge of how to best capitalize on that data is earning marketers’ some long overdue respect among all levels and departments of their organizations. As one of the company leaders quoted in the AdWeek story said, marketers’ ability to own and understand data that drives sales is one factor that frequently makes them excellent CEOs.
Of course, for those of us who have been working in the trenches for a long time already know, this is not exactly breaking news. Marketers have been the quiet workhorses propelling sales and other revenue centers for a long time. But it is refreshing and encouraging that the rest of the business leadership crowd is starting to take notice, thanks to the importance of customer and prospect data.
KEO Marketing can help your business develop a marketing plan to gather, analyze and act upon the customer/prospect data that can play a valuable role in driving sales.