Breaking Down The Financial Barriers To Marketing Innovation

CMOs continue to fall short in marketing innovation. Most marketers experiment instead, putting the lion's share of their investment into testing one P of the marketing mix: promotion. While new media channels are important, they are only a path to better alignment of marketing to the strategic priorities of the executive team. Senior marketers will only be able to innovate when they both accept a marketing innovation remit and have a marketing innovation budget that is distinct from other investment. A first step to marketing innovation is to innovate how these efforts are funded.