Introducing The Trim

Welcome to The Trim, your new go-to newsletter for all things marketing and business development. I'm thrilled to kick off this journey with you, sharing the latest trends, best practices, and insights that can help drive your growth.

I want to start this first newsletter with a topic that is close to my heart and obviously one that reflects significant change and ongoing challenges.

The good news first - Women are making noticeable progress in securing top marketing roles. According to Marketing Week, women now hold 48.2% of board-level marketing positions as of 2024 - lets pop open the fizz! This is a big deal! It shows a shift towards more inclusive leadership in the corporate world. But we mustn't look at leadership just as a checkbox, the results of this shift means fresh perspectives and more innovative and inclusive marketing strategies. Female CMOs are helping brands connect more authentically with diverse audiences, and that's something worth celebrating.

Unfortunately, we shouldn't get too comfortable. There's still a long way to go. The survey highlights a troubling trend: while women make up 60.9% of all marketing professionals, their numbers drop significantly in senior roles. There's still a long way to go.

What this is telling us is that systemic barriers like biases in promotions and a lack of support for balancing work and personal life are still very real. To add to this, and despite some progress, the representation of ethnic minorities in senior marketing roles remains limited. The Marketing Week survey shows that only 12% of CMOs in the UK come from ethnic minority backgrounds. This underrepresentation points to a broader issue of inclusivity within the marketing industry. Ethnic diversity at the top levels of marketing is a MUST for creating campaigns that are truly inclusive.

Now, onto something that's shaking up the marketing world - martech (that's marketing technology). Deloitte's Spring 2024 CMO Survey reveals that martech investments are skyrocketing. Senior marketers predict that martech will eat up nearly a third of their budgets by 2029 - but! - many of these tools are underutilised. CMOs are buying tech but aren't always sure how to make the most of it, which is a huge missed opportunity.

One of the biggest challenges highlighted by Deloitte is the struggle to turn data into "actionable insights". Only a quarter of senior marketers feel confident in identifying their most engaged customers and responding quickly to opportunities - need for better analytics - and a bigger need to learn how to interpret data correctly.

My take

So, what can we do about it?

First, we need to invest in training that boosts data literacy across marketing teams. This way, everyone can make the most of the tech tools. Companies also need to create environments that support diverse leadership pipelines. This means mentorship programs, transparent promotion practices, and policies that help balance work and life.

Female CMOs and those from ethnic minority backgrounds should visible leaders in the industry. Speaking at conferences, writing thought leadership pieces, and mentoring the next generation can have a massive impact - that inspires and promotes more diverse talent to rise to the top.

For more detailed insights, check out the reports by Marketing Week and Deloitte. These sources offer a comprehensive look at the current state and future directions for women and ethnic minorities in CMO roles in the UK.

Michelle Pontes

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Here's something extra

Organisations supporting women in marketing and business

Women in Marketing (WiM)

• Website: womeninmarketing.org.uk
• WiM aims to educate, inspire, and empower women at all stages of their marketing careers. They offer networking opportunities, mentorship programs, and host the annual WiM Awards to celebrate women’s achievements in the industry.

SheSays

• Website: weareshesays.com
• An award-winning global network organisation focused on the engagement, education, and advancement of women in creative industries. They provide free events, mentoring programs, and career advice.

Women in Advertising and Communications, London (WACL)

• Website: wacl.info
• WACL is a network of the most influential women in the UK marketing, advertising, and communications industries. They focus on networking, mentoring, and championing gender equality in the industry.

The Female Lead

• Website: thefemalelead.com
• The Female Lead is dedicated to showcasing women’s stories across various fields, including business and marketing. They provide educational resources, inspirational stories, and a platform to connect women with opportunities.

Organisations supporting ethnic diversity

Creative Equals

• Website: creativeequals.org
• This organisation is focused on creating a diverse and inclusive creative sector. They provide training, consultancy, and resources to support diversity in marketing and creative roles.

Black Women in Marketing (BWIM)

• Website: blackwomeninmarketing.com
• BWIM is a professional network dedicated to supporting Black women in marketing through networking, mentoring, and development opportunities.

Inclusive Marketing

• Website: inclusivemarketing.co.uk
• They focus on promoting and supporting diversity in the marketing industry through training, events, and consulting services.

ColorComm

• Website: colorcommnetwork.com
• Although based in the US, ColorComm has a significant impact globally, including the UK. They aim to advance the visibility and accomplishments of women of colour in communications through networking, mentoring, and career development programs.

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Follow FOLIO.5 - I create brand and marketing portfolio roadmaps that work for you and your business. Drop me a DM, I'll show you how.

Michelle