Unlocking Growth: Shifting perspectives so marketing is an investment, not a cost
Is marketing a cost or an investment for your company? If you answered “cost”, then how do you reframe internal perspectives, so marketing is acknowledged as a strategic investment and a catalyst for success rather than a necessary expense? Here are 5 tips :
Success storytelling for stakeholders: Remind stakeholders how previous marketing strategies and campaigns attracted key accounts. Share how their initial interest became a journey and the touch points that contributed to them becoming a customer.
Use data-driven insights to demonstrate ROI: Include data-driven insights in your storytelling to demonstrate the tangible returns from previous marketing investment. This is particularly powerful in B2B marketing where lead-times can be several months. Concrete data illustrating the correlation between marketing efforts and revenue outcomes is a compelling argument for further marketing investment.
. Align marketing and business objectives: Ensure that your marketing strategy shows how its objectives align and support the delivery of your organisation’s broader business objectives. When stakeholders see how marketing initiatives directly contribute to achieving organisational success, they are more likely to appreciate the strategic value of these investments. Highlighting this alignment helps break down silos and foster a holistic view of marketing's role in driving business success.
Embrace a collaborative, cross-functional approach: Foster a collaborative culture that breaks down the silos between marketing, sales, and other departments. Highlighting the synergies between departments reinforces the idea that marketing is not a standalone cost but an integral part of the organisation's collective efforts towards growth.
Demonstrate continual improvement: By undertaking and reporting on regular marketing reviews demonstrates that marketing isn’t a “fluffy” or “nice-to-have” activity but one that is driving results. Reporting success and illustrating where iterative improvements have resulted in enhanced campaign performance highlights marketing’s commitment delivering both its objectives and contributing to the organisation’s success.
Actively reshaping perceptions of marketing from a cost centre to a strategic investment is a journey that needs proactive internal communication, education, and a commitment to showcasing the tangible, long-term value that well-executed marketing initiatives bring to the table.
If you are interested in discovering how you do this within your organisation, I have a few slots still open for strategic marketing reviews in January and February. Drop me a line if you’re interested and let’s chat.
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I’ve been helping marketing professionals showcase their companies’ return on marketing investment for nearly 20 years, through marketing reviews and by developing hashtag#marketing strategies that deliver impact, develop markets, and facilitate change.