Singapore – Around 74% of C-suite executives in the Asia-Pacific region are under pressure to prove greater short-term return of investment (ROI) on their marketing campaigns amidst times of uncertainty, according to data from social media platform LinkedIn.
According to the data, almost 98% of B2B marketing leaders in APAC said that improving the chief financial officer’s awareness and understanding of B2B marketing ROI will be vital for strengthening future marketing budgets.
The data also finds that 40% of businesses in APAC are financially preparing for tough times ahead, which is putting heightened pressure on marketers to prove business impact.
At a global level, a third of CMOs globally are concerned that uncertainty will force them to operate more reactively (30%) and curb creative campaigns (31%).
In terms of marketing spending, around 58% of B2B marketing leaders in APAC are planning to maintain or increase spend in this area over the next six months. Furthermore, 82% of marketers in APAC believe companies that increase or maintain their marketing spend throughout economic uncertainty recover faster.
“With CFOs facing incredibly hard choices in the coming months, they will naturally be a critical stakeholder for CMOs and their marketing teams. Maintaining existing budgets and strengthening future ones is dependent on marketers’ ability to speak the language of the CFO and now, more than ever, marketers need to master the language of effectiveness.” the research stated.
Prue Cox, director of enterprise for SEA & ANZ marketing solutions at LinkedIn said, “While we know the economy is in a state of flux, it’s important that marketers continue to invest in marketing as by pulling back investment, they risk long term damage to their brand. As marketing budgets are often the first to be scrutinised and tightened in times of uncertainty, it’s important that senior leaders can show ROI to their stakeholders.”
She added, “Speaking the language of the CFO, to demonstrate an alignment of marketing metrics to business metrics, and pulling the right strategic levers, will help maintain existing budgets and strengthen future ones. By nurturing key relationships with important leaders, like the CFO, and using data as information, can demonstrate business impact and will put brands in a much stronger position now and in the future.”