'It's remarkable to me that Marketing is not regarded as tne lifeblood of a business' said Tim Ambler of the London Business School, addressing a seminar of marketing professionals on informing shareholders of the value of marketing to their investment
[UKPRwire, Tue Feb 27 2007] It’s time that marketing made its way into the boardroom via the front door rather than waiting for someone to open the green baize door at the back, said Tim Ambler [20th Feb.] at the first of the 2007 seminar series organised by the Worshipful Company of Marketors, the livery company for marketing professionals.
The widely-published researcher and Senior Fellow at the London Business School set out the case for informing shareholders of the value of marketing to their investment, and said: ‘It’s remarkable to me that marketing is not regarded as being the lifeblood of a business.’ He added that perhaps business schools should stop teaching everything except marketing, as ‘everything else is just counting money or spending it!’
Mr Ambler outlined the need for building investor and analyst demand for marketing data and metrics – especially for brand equity, which he described as ‘the firm’s most valuable asset’ - intangible assets often making up the bulk of a company’s worth. It is impossible to assess marketing performance without monitoring that equity, and shareholders should be advised of how it’s faring, he said.
But getting in the way of such transparency is the fact that 50 per cent of analysts are only concerned with financial data, and there is a preoccupation among certain sections with risk. He commented: ‘If you’re worrying about risk all the time you aren’t going to make any money. Of course you have to look before you cross the road, but you also have to remember why you wanted to cross the road in the first place.’
Mr Ambler and his students at London Business School were instrumental in researching and developing the OFR/Business Review Checklist which was published in 2005 and sponsored by the Marketors. The checklist, which has been welcomed by the financial community, provides a simple framework whereby companies can verify that they have complied with the Accounting Standards Board guidelines on financial reporting.
Mr Ambler’s presentation understandably began a period of stimulating debate, with opposing views from several accountants, analysts and marketers among the delegates sparking a lively discussion. The panel was chaired by Venetia Howes, general manager SIPC-SBI Marketing Services at Shell and Junior Warden of the Marketors, and included David Phillips – senior Corporate Reporting leader at PricewaterhouseCoopers LLP - and Mike Rocha, who is managing director UK for Brand Finance plc.
It was a promising start to the six-part lecture series developed by the Worshipful Company of Marketors’ Think Tank, and a major thrust of Master Keith Arundale’s year in office.
The theme of this series of seminars is Marketing Entrepreneurship in the City, and Keith makes the point that only 14 per cent of FTSE 100 companies have a marketing director on their boards and only 17 per cent of FTSE 100 CEOs have a background in marketing. It’s hoped that bringing the issue to an audience of analysts, accountants and the City will further the cause of marketing as a vital if intangible asset.
E N D S
(496 words)
Photo contact Shirley Barnett 020 82027821 o prprojects@aol.com
Del.icio.us
Digg
Furl
Blinklist
Reddit