Chief Marketer-5 Differences in B-to-C, B-to-B CMO Thinking: ANA Survey
It may come as no big surprise that B-to-C and B-to-B marketers think differently, but what may come as some surprise is that senior marketers and their junior counterpart also think differently. These insights come from a new survey from the ANA that offers five key takeaways from the report.
1. Differences on the focus of the CMO
The vast majority (90%) of B-to-C marketers agree that CMO (or equivalent) should be responsible for both long-term and short-term company growth. However, only 67% of B-to-B marketers said the same. This is most likely because B-to-B products generally have a longer lifecycle than B-to-C products, requiring a focus on long-term growth. Additionally, 20% more B-to-C marketers (89%) see themselves as having influence over the company direction than B-to-B marketers, (69%).
2. Only 50% of CMOs extremely involved in consumer insights
Only half of marketers agree that their CMO/marketing team is extremely involved with consumer insights (55%) at their company. It is interesting to note that B-to-B companies are spending a higher percentage of their budget (7.2%) on consumer insights than their B-to-C counterpoints (4.6%). However, B-to-B organizations have smaller marketing budgets than B-to-C companies, so while this may be a higher percentage, it is most likely not a higher dollar amount, as consumer insights are generally seen as the lifeblood of B-to-C marketing.
3. Senior B-to-C marketers more likely to describe primary ad agency as partner
Over one-third of all respondents described their primary ad agency as a “vendor” or “supplier.” Just over half (57%) said “partner.” Sixty-three percent of B-to-C marketers and 64% of senior marketers of both types (VPs and above) describe their primary ad agency as a “partner.” Only 37% of B-to-B marketers and 55% of non-senior marketers felt the same, indicating a potential thread.
4. CMOs determine size and spend of marketing budget
Not surprisingly, 87% of senior marketers (VPs and above) agree that CMOs should have extensive influence over the size/spend of the marketing budget vs. 79% of their junior counterparts.
5. Senior marketers support new technology
Eighty-six percent of senior marketers (VPs and above) place high importance on the use of new technology to communicate with consumers, while only 70% of their junior counterparts feel the same. A higher percentage of senior marketers also feel that it is important for the marketing organization to be tech-savvy. These findings were somewhat surprising, as conventional wisdom and anecdotal evidence might indicate the opposite to be true.