CMOs have been upping their brand investments of late – and seeing payoffs from their increasing spending and efforts. But it’s not all smooth sailing for marketing leaders at enterprise organizations, per findings from a survey by Gartner.
Gartner asked almost 400 marketing leaders at enterprise-level organizations (at least $500 million in annual revenues) to cite their top-3 brand challenges from a list 11.
Some 35% of the survey’s respondents identified managing a global brand as one of their top brand marketing challenges. The same percentage also noted that a main challenge is keeping their brand relevant, which is understandable considering consumers’ receptivity to trying new brands.
Three in 10 respondents (31%), meanwhile, noted that one of their primary brand challenges is measuring the impact of brand investments. Earlier this year, The CMO Survey found that US CMOs are finding it challenging to prove ROI. A separate survey has also found that ROI to be an important metric, although almost twice as many CMOs felt that measuring brand awareness was more important.
Two other challenges cited in this latest research were creating a compelling brand vision (30%) and integrating brand effectively into all communications (29%). The challenge of creating a brand vision and then integrating it across communications can be an even bigger issue if collaboration between marketing and creative teams is poor. And while marketing is responsible for clearly communicating expectations to outside agencies, the same could be said for those organizations who have in-house creative teams. The good news is that the relationship between marketing and in-house creative teams appears to be improving.
The spirit of communication extends into the C-suite, yet it can be a challenge to communicate the impact or value of brand to internal stakeholders for a sizable share of the CMOs surveyed.
Further commentary can be read in the release here.
About the Data: Findings are based on a survey of 393 marketing decision-makers from the US, Canada and the UK. All respondents were from companies with $500 million or more in annual revenue.