Jay Baer has it right. Baer is a marketing consultant, speaker, and the author of book, Youtility. He said, “Make your marketing so useful people would pay you for it.” It is a wonderful notion. The quote gets at excellence in marketing while holding the practice accountable.
It is strange that most marketing departments are structured so loosely. I am not talking about the organizational structure. There is far too much written and explored on that topic. I contend that the organization of a marketing department would become extremely clear, efficient and effective if it was subject to being its own profit and loss center.
Instead the vast majority of marketing departments get a budget. The team executes within that spend and produces mediocre results for the most part. The next year the budget gets a little bump to reflect inflation and higher costs. This cycle repeats until the CEO removes the head of marketing due to vague results.
I have run global marketing teams and advise companies on how best to set-up their marketing organizations. In chats with CEOs and CMOs I passionately suggest the P&L route. CEOs love it. CMOs not so much. That is too bad because it would make marketing so much better and would weed out the real good CMOs from the ones who bluster and obfuscate. This move would have positive impact on CMO turnover.