A massive 95% of chief marketing officers (CMOs) believe their companies should take the lead in finding solutions to key societal and cultural issues, according to a survey by Gartner.
Gartner surveyed 381 CMOs and senior marketing executives during September and October 2020, and found that their organisations have already taken concrete action to demonstrate a firm commitment to societal change.
“CMOs play a unique role in helping their organisations understand and respond to societal, cultural and political trends,” says Jay Wilson, vice-president analyst in the Gartner Marketing practice. “As a result, marketing has taken on the responsibility of using the brand’s platform to build awareness of societal issues and communicate support for movements.
“However, there is some misalignment of consumer expectations of brands and the actions they report having taken.”
Gartner found that 44% of consumers report that their highest expectations of companies is for them to ensure their own policies and practices align with a cause, but only 37% of CMOs report taking that action. Twenty-four percent of consumers say one of brands’ top two priorities should be donating money to cause, yet 46% of CMOs report donations as a top action taken.
“If part of a brand’s motivation for taking action on social issues is to align with what consumers want from brands, CMOs may need to review their priorities,” says Augie Ray, vice-president analyst in the Gartner Marketing practice. “Taking any action comes with risk in an increasingly polarized society. However, such risks are typically offset by having furthered or fulfilled the brand’s purpose.”
To successfully lead in solving key societal and cultural issues, Gartner recommends that CMOs take the following actions:
* Spearhead efforts to ensure company policies and practices reflect the ideals of target consumers, especially as it relates to diversity, equity and inclusion.
* Take a leadership role and implement a process for monitoring and engaging with societal issues. An organizational decision criteria is needed to ensure consistent, defensible decision making.