Hong Kong – Truly, knowing the problem is half solving it, and in the marketing world, one qualitative study by marketing company NEON leaders had aimed to extract marketers’ deepest concerns when it comes to delivering the best in their role and with regards to the marketing industry as a whole.
Feeling overwhelmed and under-resourced, the pressure to quantify ROI, and losing a generation of holistic-oriented marketers are some of the biggest dilemmas revealed by the executives.
For the qualitative study, NEON leaders interviewed more than 30 global and APAC marketing leaders from brands such as HSBC, KONE, Kontoor brands, ONE Championship, and Mercedes-Benz, among others, in order to learn what currently disheartens them about the culture in the profession and the current practices in the industry.
According to the study, while technological acceleration is good for the business ecosystem, this poses a challenge for marketers to upskill in tandem with the growth rate of tech innovation such as the emergence of artificial intelligence, augmented reality, and virtual reality.
“The marketer’s list of responsibilities keeps growing: more competition, more data, more stakeholder management, more fighting for a seat at the table. With so much to balance, having a clear strategy and the confidence to make strategic choices is critically important,” noted the study.
We sometimes spread ourselves too thin rather than being clear on what we do and don’t do. Focusing on less will certainly result in more.
Andrea de Vincentiis, regional head of B2B marketing at HSBC for APAC
The fast-paced advancements in tech similarly give birth to another pressing issue. Other than beefing up their skills as leaders, marketing heads are also challenged by finding the right people and refreshing current teams to meet the demands of tomorrow.
NEON Leaders said that 93% of the CMOs they spoke to intend to use open talent in the next six months.
Peter Larko, director of marketing & PR for Mercedes-Benz Hong Kong, bared in his interview, “I can’t do everything I need to do with the people I have.”
The most difficult aspect of building a skills-based team is letting go of former talent. The report said that marketing leaders are now focused on bringing together the ‘full symphony’, which are experts across insight and strategy who can build brands over the long term, together with experts in multiple forms of execution who can deliver results in the short term.
“It’s said that it’s a lonely gig, but CMOs are determined to bring in people who can challenge them and help them think differently,” remarked the report.
Justifying marketing ROI also emerged as one of the challenges marketers face today.
Ruth Rowan, global CMO from the tech sector, said, “We don’t want people to tell us what’s happening; we want people who can tell us why it’s happening.”
According to the study, in an uncertain market, there’s been a more pressing need for marketers to quantify results, which lead to some marketers opting for a much more definitive route of short-term campaigns, compromising the opportunity to deliver substantial long-term brand development.
“CMOs are under pressure to justify their marketing ROI, and this can lead to a narrow focus on achievements that can be easily measured, rather than achievements that count,” noted the report.
On a much more personal level, the expansive role of the marketer is also seen as a hurdle in the face of undefined responsibilities.
The study notes that straightening out the focus of roles must start with marketing leaders, where the objective and focus of their positions must be made clear and consistent to avoid letting the team become a “dumping ground for wider business issues.”
The issue of setting clear definitions doesn’t just ring true for personal roles, but with the purpose of the marketing function as well. With the highly connected and ultra engaging digital world, it’s easy to get distracted from the real essence of marketing.
Marketing needs to get back to what the customer proposition is. Not just be the comms function.
Christy Kilmartin, VP of marketing for APAC at Kontoor brands
The report said that interviewed marketers unanimously agreed on where marketing needs to head, and it’s coming full circle: understanding customers and anticipating how best to service them in the future.
“The future of marketing is clear, and it involves the customer,” emphasized the report.
Lastly, the study found that marketers are unsettled with the possibility of losing a generation of ‘strategic’ marketers. Digital and social media metrics have pushed marketers to be output-heavy, losing the importance of sharpening strategy formulation skills.
We’re going to lose an entire generation of marketers, because many leaders see marketing as just digital or social and don’t see marketing as the whole 360 degrees based on consumer insights.
Erica Kerner, SVP of marketing strategy & partnerships at ONE Championship
The study said that ‘short-termism’, a focus on outputs, and increased numbers of responsibilities mean that marketing teams are building their muscle in execution, not strategy.
“By valuing new and shiny skills over core strategic skills, the industry is missing out on opportunities to develop the next generation of strategic marketers,” added the report.
On developing the study, NEON Leaders’ Founder and Director Jennifer Woollford, commented, “This research is a call to arms for marketers and businesses. We must balance the focus on short-term execution with long-term strategy, lining up skills and talent accordingly, in order to influence and impact business strategy and outcomes. If we ignore this, we risk losing the skill of marketing strategy and brand building from the next generation of marketing leaders.”
The qualitative study was conducted together with Engine, with interviews among over 30 CMOs across B2C and B2B companies from different industries.
