Marketing > How to ask a Board of Directors to invest in the Marketing Function

How to ask a Board of Directors to invest in the Marketing Function

When you need to present the value and benefits of the marketing function to the board of directors you could provide them with an introduction to marketing in a pre-read document. Also here is a proposed presentation structure for that board meeting on marketing.

You are invited to a board meeting where board members are faced with the decision to hire additional marketing staff and to invest in additional marketing tools, marketing expertise and marketing programs to become more visible in their chosen markets and to be more competitive. The board members have never worked in professional marketing themselves so they will need a more basic and top level introduction into marketing as a key business function.

Here are two key elements for a potential board presentation that you might need to prepare.

Pre-Read Document: An Introduction to B2B Marketing

Introduction

The purpose of this document is to provide an introduction to B2B marketing for board members who are unfamiliar with the concept. B2B marketing is a critical function that can help businesses increase visibility in their chosen markets, generate leads, and compete more effectively. In this document, we will discuss what B2B marketing is, why it matters, and how it can benefit your business.

What is B2B Marketing?

B2B marketing is the process of marketing products or services to other businesses or organizations, rather than individual consumers. The goal of B2B marketing is to attract and convert potential customers into paying customers. This process involves identifying target customers, developing marketing strategies to reach those customers, and measuring the success of those strategies.

Why is B2B Marketing Important?

B2B marketing is important for several reasons:

1. Increased visibility: B2B marketing can help businesses increase visibility in their chosen markets by raising awareness of their products or services.

2. Lead generation: B2B marketing can generate leads by attracting potential customers to a business's website or other marketing channels.

3. Competitive advantage: B2B marketing can help businesses compete more effectively by positioning them as thought leaders in their industry or by highlighting their unique selling propositions.

How Can B2B Marketing Benefit Your Business?

B2B marketing can benefit your business in several ways:

1. Increased revenue: B2B marketing can generate leads and convert them into paying customers, which can increase revenue.

2. Improved customer retention: B2B marketing can help businesses build strong relationships with their customers, leading to increased customer retention.

3. Greater market share: B2B marketing can help businesses increase their market share by attracting new customers and retaining existing ones.

For additional explanation of important marketing terms you can find details in this marketing glossary.

Presentation Slide Structure: Why Investing into the Marketing Function is Business Critical

Here is a potential structure of the presentation on the value and benefits for the business when there are more investments into marketing.

Slide 1: Introduction

- Welcome board members

- Introduce presentation topic: An Introduction to B2B Marketing

- Provide examples of marketing strategies that have been successful in your industry

Slide 7: Measuring Success

- Discuss the importance of measuring the success of marketing strategies

- Provide examples of key performance indicators (KPIs) that can be used to measure the success of B2B marketing strategies

Slide 8: Marketing Tools

- Discuss different marketing tools that can be used in B2B marketing

- Provide examples of marketing tools that have been successful in your industry

Slide 9: Hiring Marketing Staff

- Discuss the benefits of hiring additional marketing staff

- Provide examples of the roles and responsibilities of marketing staff

Slide 10: Conclusion

- Summarize the key points of the presentation

- Thank board members for their time and consideration

No matter how hard you try though, there might still be someone in the boardroom that does not believe in marketing and who needs an extra set of arguments and content to be convinced.

To facilitate your discussions with management on the purpose and value of B2B marketing, you might find this detailed marketing glossary overview of B2B marketing helpful.

Recap: Presenting the benefits of the marketing function to the board of directors with an introduction to marketing in a pre-read document and a presentation structure for that board meeting on marketing.

Marketing > How to ask a Board of Directors to invest in the Marketing Function