Marketers being squeezed as companies seek short term results

Marketing budgets are at risk of being cut as companies increasingly take a short term view and invest in quick sales rather than longer term growth strategies, the chief marketer of electronics giant LG has warned.

Lambro Skropidis told Mumbrella firms are becoming “beholden to shareholders” and looking for rapid results which can work against marketers.

The problem is being exacerbated as the tenure of chief executives and managing directors gets shorter resulting in a tendency to look towards shorter term wins “to get runs on the board”.

“Twenty years ago people were in their roles a lot longer and invested in the longer term. Today, people are managed more short term and increasingly companies are being asked to achieve short term deliverables,” he said.