From the course: CMO Foundations: Become an Effective CMO

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CMO budget barriers

CMO budget barriers

From the course: CMO Foundations: Become an Effective CMO

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CMO budget barriers

- The passionate cry for stronger marketing ROI can be heard across the C Suite. Yet, amidst this blossoming romance between CEOs, CMOs and marketing analytics companies, we still hear about dramatic budget breakups. In the hundreds of CMOs I've surveyed and advised, they still believe that they lack adequate budget to fuel growth. That has been a major concern for four consecutive years. What is causing these budget barriers? I see two reasons. Clinging to outdated metrics and short-term marketing mindsets. We're going to explore both in more detail. First, let's look at how marketing leaders are attached to older definitions of marketing success. Such as, number of qualified leads, conversion rates, sales pipeline velocity and event attendance. Things get even worse in the C Suite when the CMOs show up in leadership sessions with a dashboard full of vanity metrics from social campaigns, webinars and trade shows. These might include number of likes and number of cards scanned in the…

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