The Value of Marketing report, published by Econsultancy in partnership with Marketing Week, is based on a survey of more than 250 senior marketers and finance directors, as well as 18 in-depth interviews with C-suite executives from both business functions.
With half of FTSE 100 CEOs having an accounting or financial management background, compared to just 10% who come from marketing or advertising, it is clear that finance still commands the greatest voice in the boardroom.
However, given the rapid developments in technology that have given customers more power than ever before, a debate exists as to whether the boardroom status quo can provide companies with a sustainable advantage in the face of accelerating consumer change.
The report highlights the difficulties in placing a value on marketing, with the majority of both marketing and finance professionals still unable to provide a figure for their return on investment. In addition, there are significant tensions and differences in opinion between marketing and finance departments which may be impeding both business and marketing success.
About the report
The research was designed to explore the perception and value of marketing from both senior marketers and heads of finance. The methodology involved two main phases:
- Phase 1: In-depth interviews were held with nine senior brand-side marketers (CMO or Marketing Director level) and nine senior finance officers (CFO or Finance Director level) to investigate the dynamic between marketing and finance.
- Phase 2: An online survey of 171 senior finance executives and 100 brand-side marketers was conducted to ask people about their opinions and perspectives on the topic of the value of marketing.
The 28-page report contains charts, quotes and analysis stemming from the interviews and survey.
Econsultancy would like to acknowledge in particular the following people who assisted with the research:
- Kristof Fahy , CMO, William Hill
- Andrew Warner, VP Marketing, Monster Worldwide
- Aine Bryn, Global Financial Services Marketing Director, PwC
- Mark Evans, Marketing Director, Direct Line
- Amanda MacKenzie, CMO, Aviva
- Chris Clark, GGM & Global Head of Marketing, HSBC
- Saj Arshad, UK Strategy & Marketing Director, Bupa
- Joby Russell, Marketing Director, Confused.com
- Teresa Arbuckle, Marketing Director UK & Ireland, Beko plc
- Mark Kerswell, CFO, Centaur Media plc
- Stephen Brown, CFO, the RFU
- Ian Proctor, CFO, Sky Bet
- Andrew Peeler, CFO, Bupa
- Melissa Foux, FD, CSC Media
- Rupert Evans, FD, TranslateMedia