Marketing Training: The Growth Driver
May 5, 2014
Building capabilities is the key to success in any profession, and marketing is no exception. But CMOs and marketing leaders should not expect on-the-job training alone to be enough: only 15 percent of U.S. respondents agreed with the statement, “Every marketer in our organization receives adequate training on the job.”
On-the-job training relies on the skills of current employees. However, 46 percent of U.S. respondents felt that their organization’s senior management did not sufficiently understand social and digital marketing. As marketing continues to evolve across the digital space and new channels and customer expectations emerge, offering additional training capabilities will become more important than ever.
- Marketing2020 found a direct correlation between companies offering more days of formal training and the company’s overall performance.
- Only 30 percent of U.S. respondents found their company’s current training programs to be sufficiently practical.
- Companies with marketing training programs significantly outperform their competitors across all marketing excellence areas.
- Capability performance had the strongest influence on revenue growth across the dimensions of customer service, brand positioning, and brand strategy.
(Click on image to enlarge.)
Marketing2020 – Organizing for Growth is the most comprehensive global marketing leadership initiative ever undertaken. Led by Millward Brown Vermeer in partnership with the ANA, Spencer Stuart, and Adobe, Marketing2020 is focused on how to best align marketing strategy, structure, and capabilities for business growth. The Marketing2020 fieldwork included vision interviews with more than 250 leading CMOs and an in-depth online survey of 10,491 contributors from 92 countries.
"Marketing Training: The Growth Driver." Marketing2020.