Finance leaders identified marketing efforts, or expanding relationships with existing customers, as the top strategic factor driving company growth and profitability in 2016, according to the 6th annual CFO Sentiment Study. Nevertheless, marketing budgets are already on the chopping block.
For example, to support Unilever’s efficiency expansion drive, its marketers will now have to adopt “zero-based budgeting”: They’ll have to justify spending on all new activity instead of their budgets’ being based on the previous year’s spending.
What might be the underlying cause of budget reductions despite CFOs’ belief that both top-line and bottom-line growth in 2016 will require sales and marketing? It’s likely that despite improvements in technology and processes, as well as an increased focus on measurement, only few marketers can actually prove their value.
And this is EXACTLY the reason why marketers need to avoid Customer Experience as their raison d’etre. Get your attributable MarTech initiatives in place, then move to CX only after you can demonstrate ROI from MarTech. Jeez….