Closing the CMO-CFO brand value gap in B2B
Fear, uncertainty, and doubt: investigating the barriers to B2B brand-building progress.
ABOUT THE REPORT
In 2022, our State of B2B Brand Building research found that B2B marketing leaders were re-evaluating the strategic importance of brand to their business. They understood the role that brand marketing could play in revenue growth, making brand awareness a top marketing priority.
But after a tumultuous year in which budgets were slashed and priorities shifted, is brand still at the top of B2B marketing leaders’ priority lists? Has economic instability weakened CFOs’ faith in brand marketing’s ability to drive growth? And how has the relationship between CMOs and CFOs transformed over the past 12 months, if at all?
Connect the unexpected and find out where there’s alignment between the two roles, where there are contradictions, and how B2B brand marketers can bridge that gap in our Closing the CMO-CFO brand value gap in B2B report.
SIX KEY PERCEPTION BARRIERS TO BRAND ALIGNMENT
“B2B BUYERS DON’T BUY ON BRAND”
A CLASSIC CASE OF ‘PRODUCT DELUSION’
84% of CFOs believe B2B buyers will purchase the best solution, product, or price and not the best brand. Worryingly, 71% of CMOs agree.
IS OUR TERMINOLOGY WORKING AGAINST CMOs?
52% of CFOs disagree with the statement “brand marketing is a key driver of short-term sales performance”. 77% of CMOs agree.
“BRAND’S IMPACT ON REVENUE GROWTH CAN’T BE MEASURED“
CFOs WANT TO BE SHOWN THE COMMERCIAL IMPACT OF BRAND
79% of B2B CFOs state there are no reliable metrics to clearly tie brand marketing to revenue growth.
CMOs STRUGGLE TO DEMONSTRATE BRAND’S BUSINESS VALUE
67% of CMOs have difficulty proving the commercial value and ROI of brand marketing. 72% of CFOs agree.
“BRANDS GROW THROUGH RELEVANCY, NOT REACH”
ACCOUNT-BASED MINDSETS COULD BE HOLDING US BACK
68% of B2B CFOs believe brands grow best through audience relevancy, not reach. More surprisingly, 54% of CMOs are of the same opinion.
“IT’S BETTER TO HAVE A SAFE BRAND THAN ONE THAT’S BOLD AND DISRUPTIVE“
THE RISK OF NOT TAKING A RISK
76% of CFOs believe that in B2B, it’s better to have a safe, reliable brand than a bold, disruptive one. Thankfully, 55% of CMOs believe the opposite.
MISMATCHED EXPECTATIONS FOR CREATIVITY
CFOs say the number one business value of creative marketing is “building greater customer loyalty and trust”, whereas CMOs believe it lies in differentiation.
“A STRONG BRAND PURPOSE INFLUENCES BUYER DECISION MAKING“
DIVIDED VIEWS ON THE PURPOSE OF PURPOSE
75% of CMOs believe B2B buyers are more likely to buy from businesses with a strong brand purpose in contrast to the 48% of CFOs disagree.
PURPOSE-WASHING IS WORSE THAN EVER
In a figure that’s almost double last year’s findings, 41% of CMOs say their brand champions societal causes mainly for commercial gain.
“BRAND HEALTH DOESN’T IMPACT BUSINESS HEALTH“
ACCOUNT-BASED MINDSETS COULD BE HOLDING US BACK
68% of B2B CFOs believe brands grow best through audience relevancy, not reach. More surprisingly, 54% of CMOs are of the same opinion.