You know the expression “less is more”? Allow me to recommend something that may seem counterintuitive to marketing leaders. Having been through more planning and budgeting cycles than I’d care to count, I’ll share an approach that can expand your credibility as a marketing leader and general manager.
Today, marketing is becoming more of a house of processes and a profit center than a traditional cost center. But historically, CEOs and CFOs have viewed marketing as a cost center and slush fund with discretionary budget dollars available to cut when needed as performance and priorities change. Sound familiar?
Countless marketing leaders have reinforced that view, frequently asking for more budget without also demonstrating a facile corporate stewardship of the budget dollars to which they were entrusted. How often have you shown ways to cut marketing spending and become more effective? There are a number of situations where you can do this:
As you see, there are real opportunities to cut costs, expand profitability and make marketing more effective. Reducing costs enhances your relationship with the CFO and CEO. It shows you are a real business partner and demonstrates your command of marketing as a general manager. It also can lesson historical perceptions of marketing as a cost center.
Try the “less is more” approach. Surprise folks with the unexpected, and you may surprise yourself with the results.
Please comment about your personal experiences with this approach. We would love to hear from you!
Alan Gonsenhauser is a Research Director of CMO and Marketing Executive Strategies at SiriusDecisions. He is passionate about accelerating growth, driving innovations and leading business transformations. At SiriusDecisions, he works closely with global chief marketing officers and sales and product leaders to drive positive organizational change and cross-functional alignment, benchmark against peers, and mobilize deployment of new marketing methods to accelerate innovation and growth. Follow Alan on Twitter @agonsenhauser.