If you see your future as corporate, the chances are that you want to start your own business or become a CEO (Chief Executive Officer) in a company that you are dreaming of working at. Having a managing position, which generally includes reporting to the board of directors, requires a lot of knowledge, as the company’s strategy relies on you.

There are a lot of aspects that you need to know. But the thing that a lot of CEOs miss is the marketing knowledge. They simply rely on what the marketing department is going to do, and while this decision may seem logical on the surface, after all, you’re not a CMO (Chief Marketing Officer) – the outcome can be disastrous for the company and your career.

Let’s look at an example from the college years. Not all students write essays on their own. Quite often, you can hear “I need EssayPro to write my paper for me” from one of your fellow students. EssayPro is the number one site to check out if you want your essay written professionally. Simply hire a writer, submit your requirements – and download your finished essay!

EssayPro is perfect when you may just have no time to write that essay – but you need to have some knowledge of the subject and the essay requirement to check the essay before sending it to your professor.

The same thing works for marketing. You cannot check the marketing department’s reports without basic marketing knowledge. Without it, you can’t approve or disapprove of any of the CMO’s ideas. Besides, knowledge of marketing allows you to avoid the mistakes that CEOs make frequently. Here are some of the most frequent CEOs’ mistakes with regards to marketing:

  • Underestimating social media;
  • Demanding vanity press releases;
  • Fighting back on Twitter;
  • Demanding blogs dedicated to the company’s greatness;
  • Disregarding the market’s feedback.

And an attitude that incorporates any or all of those mistakes can lead to disastrous outcomes. Let’s take a closer look at each aspect, which will disclose why marketing knowledge is essential for a CEO. And if you recognize yourself in these statements, it’s time to start changing your perspective.

“The Marketing Department Is Wasting Time on Social Media!”

If you think that social media is a waste of time for the marketing strategy, then you know nothing about marketing at all -or about its digital counterpart. Social media is one of the best and cheapest ways to let people know about your company. You can build your whole marketing strategy around social media and get higher traffic.

Disregarding social media in your marketing strategy may lead to your company’s underperformance. You will get less exposure to prospective customers, and you won’t be able to monitor the competition. As a CEO, you need to understand the importance of social media to know what the marketing department is suggesting to you.

“You Are Going to Tell Me What to Post Online?!”

Almost everyone has a social media presence nowadays. But if you are a CEO, you need to understand that your social network account is no longer just yours. You are no longer some online John Doe; you are representing the company. So, you need to be careful with what you post online – now, any post can bring your company positive feedback or a string of negative publicity.

You should also be careful with your comments and tweets. If you see a negative comment about your company, it is best to ignore it. Alternatively, you can ask the author of the comment about their negative experience, apologize, or offer a way to solve their problem.

But you should avoid fighting back, as aside from providing your business with negative publicity, you are at risk of becoming an internet meme. Being careful with your online activity is the best way to provide your company with a good social media presence in your face.

“We Should Blog More About How Great We Are!”

Blogging is another easy and cheap way to increase traffic, but you need to be careful with the content. As a CEO, you may think that your company will benefit from blogs that constantly speak about the greatness of your business or how amazing you are. But, you have more chances to repel prospective clients. And fortunately or not, it goes against the SEO laws.

You cannot post information solely about the greatness of your business and expect increased traffic. Yes, you will get some, but not that much. Your company’s blog should also content articles related to your business but unrelated to your company itself.

“We Need More Press Releases!”

Just because public companies are expected to do press releases, it doesn’t mean that they should, especially if you are a small business. Doing press releases when you have nothing valuable or exciting to report turns to vanity releases consisting of a lot of purposeless hype directed inwards and have no meaning for anyone outside your company.

It’s ultimately useless for the marketing strategy, as anyone from the outside might think that you present a lot of puff without anything to offer. Aside from that, it fails to work for your employees as a team building. They already know everything about the company and have zero interest in press releases.

“People Don’t Know What They Want Until You Show It to Them!”

Almost every CEO wants to be the next Steve Jobs. If you are Steve Jobs-wannabe and use his above-mentioned quote as your approach to market feedback – you haven’t done your homework well. Yes, Steve Jobs did say that, but that doesn’t mean he didn’t care about the customers’ feedback. This quote is misunderstood quite often.

The market’s feedback is crucial to your business, and if you disregard it, your business is doomed. And what Jobs actually meant was to provide your customers with new offers, but pay attention to how they react. Make sure that the marketing department does the research and surveys the customers. Otherwise, you will end up with the failure of a business that almost no one needs.

Final Thoughts

Having a basic knowledge of marketing is crucial for the CEO of any company. That’s the only way you can approve certain ideas of the marketing department and suggest scrapping or changing others. And knowing the basics of it will increase your success as a Chief Executive Officer.