29 Nov 2023
At the start of 2023, Gartner shared that 71% of CMOs said they lacked sufficient budget to fully execute their strategy. Add to that the snippet from our recent AAR Exchange Event where we even went so far as to ask, “Are we all busy fools?” and it’s no wonder that most of our time in 2023 has been spent helping CMOs optimise their marketing operating model. Tough decisions need to be made; CFOs are (sadly) not loosening the purse strings anytime soon. If CMOs want more flexibility in their operating costs, they need to ensure that the foundations of their marketing ecosystem can support business growth.
Whether it be through the lens of People, Partners, Process or Platforms, marketing teams are re-examining the operational approach for marketing. The meticulously planned marketing strategies CMOs develop will fail if not supported by the right operating model.
Where should you focus and what can you do as a short, sharp injection to ensure you have the right model going into 2024?
Our four foundation stones for a strong marketing operating model include:
Here’s what you should be asking yourself.
1 About your structure and people:
2 Is your agency ecosystem fit for purpose?
3 Are your ways of working making your team’s work harder or easier?
4 Do you have the right workflow and marketing operations strategy to enable delivery and measurement at scale?
Once you have completed your 2024 marketing operating model questions checklist…don’t despair! Prioritise what should be tackled first in order to give you the best start for what is sure to be another challenging year for marketers.
If you need help prioritising (or auditing), drop me a line. An investment in solid foundations is never a bad place to start and always a good investment for the future.
2024 is going to be a fun ride. Let’s get ready!