Gartner Survey: Only 52% of Senior Marketing Leaders Can Prove Marketing’s Value, as Nearly Half of CMOs Face Perception Challenges
A Gartner survey conducted in April and May 2024 revealed that only 52% of senior marketing leaders, including CMOs, were able to prove marketing’s value and receive credit for contributing to business outcomes. The survey highlighted that nearly half of CMOs feel that marketing is viewed as an expense rather than a strategic investment, with CFOs (40%) and CEOs (39%) being the most skeptical of marketing’s value.
One of the key strategies for overcoming this challenge is adopting a long-term, holistic view of marketing’s impact, which has proven successful for 41% of leaders. Those who utilize more complex metrics, such as Customer Lifetime Value (LTV), Return on Ad Spend (ROAS), and stakeholder satisfaction, are up to 1.8 times more likely to prove marketing’s value and gain recognition.
Additionally, CMOs who are directly involved in data and analytics activities are significantly more successful at proving marketing’s value. However, talent gaps, particularly in analytical skills, remain major barriers. To overcome these challenges, Gartner emphasizes the need for CMOs to invest in marketing talent, enhance soft skills, and strengthen their technical expertise to effectively demonstrate marketing’s strategic role within their organizations.