CMOs are under increasing pressure due to greater scrutiny and accountability for ROI; the need to balance creativity with revenue growth; and the rapid pace of technological, market, and consumer changes. Through expert insights from leading CMOs, we share how technology, data, and culture can improve marketing effectiveness and efficiency even in periods of economic uncertainty and resource constraints.

Understanding the challenges

• Marketing executives must find ways to prove ROI. According to a Q1 2024 CMO Council survey, 40% of marketing executives said they most need better ROI and demonstrating attribution to improve marketing operations and functional integration across the enterprise.

• CMOs face hurdles in maximizing ROI. External issues include economic uncertainties, industry contractions, and consumer changes. Internal issues include tight budgets, data issues, and scaling campaigns. CMOs need to address departmental and companywide challenges.

• CMOs face an ROI balancing act. They must weigh long-term brand-building against short-term revenue goals​, pursue innovations while meeting C-suite expectations, continue investing amid budget cuts, and prioritize efficiency without compromising customer experience.

• CMOs must effectively communicate ROI to senior leadership. Demonstrating the value and impact of marketing activities is difficult, especially when marketing is seen as a cost center rather than a revenue driver. CMOs must translate relevant metrics into terminology that senior management understands.

Key Insights From EMARKETER

We’ve spent a lot of time speaking with marketing executives for our CMO report series, “Leading With Confidence.” We have uncovered the following key insights so far:

Keep investing during economic uncertainty. Continue marketing investments during economic downturns to support long-term brand growth and differentiation.

Assign a dedicated AI lead. Appoint a dedicated person to manage AI, focusing on improving efficiency, campaign performance, and personalized customer interactions.

Collaborate with the CFO. Partner closely with the CFO to align marketing investments with financial goals, optimize budget decisions, and demonstrate marketing’s impact on business outcomes.

Read the full report, How CMOs Are Maximizing ROI.