In a recent survey, we asked marketing professionals in the human capital space to reveal their top priorities of focus, as well as those of their senior leaders. Not a surprise, new customer lead generation came out on top. Keep reading to learn more about the four other priorities for marketing professionals in the human capital space.
Today's Human Capital market is worth $21 billion or more. Moreover, it will continue to grow at an 8% to 10% compound annual growth rate (CAGR). Thousands of suppliers are trying to meet the needs of buyers in this growing industry. With a wide range of solutions, they are vying for a share of their potential customers' wallets.
To help make sense of this dynamic environment, the newly formed HR Marketing Institute has initiated one of its first pieces of research:
The State of Marketing in the HR Industry: Leverage the Viewpoints of Suppliers to Boost Success Rates.
One of the questions we asked is "
What are Your Biggest Marketing Priorities?".
Finding: Senior leaders and marketers rank new customer leads as the highest priority
We asked respondents to indicate their own top priorities as well as the priorities of their top leaders. The top priority for both groups (senior leaders and marketers), according to the marketing professionals, is new customer lead generation.
The second highest priority is strengthening brand presence and recognition.
Marketers indicate that there are two considerable differences between their viewpoints and their perceived viewpoints of senior leaders. First, senior leaders consider brand building to be less critical than marketing professionals do (59% for senior leaders, 77% for marketers).
Second, marketers believe that senior leaders place more importance on marketing's role in identifying new markets or products as well as service opportunities (39% and 49% respectively).
Many CEOs understandably want to focus on building new business as quick as possible, especially in small organizations. Therefore, they may have less interest in brand building which requires a longer-term view, and often a costly investment with returns is difficult to quantify.
Meanwhile, marketers may have less interest in identifying new markets and product opportunities because they may believe this is not their primary responsibility. Indeed, this responsibility is often relegated to R&D and/or senior leadership teams.
What do you consider to be your and your senior leaders' top marketing priorities?
What does this mean for Marketing teams in the Human Capital Space?
To find out download the full HR Marketing Institute research report. To access the complete research report, you must be a member of the HR Marketing Institute. HR Marketing Institute (HRMI) is the ONLY community of marketing professionals specifically in the rapidly growing HR marketplace that is here to support your marketing needs and professional growth.
