Marketers often struggle to prove their value to executives. This is due to the difference in goals and objectives between marketers and execs. Marketers need to understand the financial goals and objectives of execs to be seen as relevant. To do this, marketers need to demonstrate the predictive power of their goals, understand the difference between revenue and profit, and find new avenues for market growth.
Marketing research, A/B testing, and understanding the language of economics can help marketers prove their worth. Marketers can translate their goals into leading and lagging indicators, and measure ROMI (return on marketing investment). Additionally, marketers need to think strategically and demonstrate the value of the company brand in employee retention and opportunity.
In order to prove marketing to execs, marketers need to think like consultants. They need to understand the financial goals and objectives of execs, and demonstrate the predictive power of their goals. If done correctly, marketers can prove their worth to the company.
Proving Marketing to Execs (Part 1)
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