Marketing takes its place at the boardroom table
Marketing is increasingly being seen by the accountants as an integral part of the success of any organisation, and many chief marketing officers are responsible for huge budgets, according to a new survey
Is marketing about to take its place at the boardroom table after years of complaint that it has only Cinderella status among the directors? In the first of a new series of surveys of the role of chief marketing officers (CMOs) in SA, the VML SA advertising agency has found that 40% of respondents now handle annual budgets of more than R50m. This, according to experts, is a 15%-20% increase over the past five years. VML CEO Jarred Cinman says: "We talked to the marketing heads of some of SA’s largest companies. The scale of their budgets is indicative of the value marketing brings to organisations and brands. "It also shows how marketers have evolved from managing the three Ps (price, place and promotion) to doing much more. Today they’re responsible for increasing sales, improving omnichannel customer experiences and reinventing the customer relationship through digital innovation." A leading fast-moving consumer goods marketing head concurs: "I think for the first time bean counte...