McKinsey research shows that companies that decide to make marketing a core part of their growth strategy outperform their competitors. Specifically, both B2C and B2B companies that consider branding and advertising as their top two growth strategies are twice as likely to increase their revenue by 5% or more (67 %~33%). However, their research also showed that few CEOs recognize the potential of marketing as a growth driver. They recommend three actions for CEOs to hit the reset button. The first is to define what you need for marketing. It sounds obvious, but their research found that a CEO and her CMO at the same company disagreed about marketing’s key role more than half of the time. He then appoints one person as the customer’s representative. In many he two organizations, this is fragmented and everyone owns the customer, then no one owns it. Third, CEOs must act as growth coaches. They need to understand the challenges and opportunities of modern marketing, but their job is to strategize, not throw balls down the field.
