Marketers need to shake of the perception that they are “cost centres”

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 01, 2019, 12:57 PM UTC

Earlier this week, Uber cut 400 employees from its 1,200 marketing team.

This piece argues that in most cases, marketers don’t get to participate in a company’s board meetings regarding its cost-cutting plans. Brands mostly see the marketing division as a “cost centre”, and marketers have no opportunity to represent how their efforts impact the company’s bottom line.

Marketing roles like analysts, ABM specialists and others, which can establish a strong connection between their work and the company’s incremental profit are safe. However, people in PR and branding are counted as cost centres as their roles do not directly impact profit.

This piece further says companies are expected to pare down their marketing teams further as technology takes over menial tasks like data aggregation. Brands are recalibrating their marketing capabilities to be more customer-centric and data-centric to get better value for money.

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[5 minute read]