The challenge of how to prove marketing’s value has been hounding CMOs as they come under increasing pressure to demonstrate their impact, with this being one of CMOs’ key concerns this year. And, as the latest CMO Survey [PDF] from Duke University’s Fuqua School of Business attests, quantitatively proving the impact of marketing spending continues to be a struggle for US CMOs. But, on a positive note, they appear to be getting slightly more confident in their ability to measure the long-term impact of their efforts.
In this most recent survey, 37% of CMOs reported that they’re able to prove the short-term impact of marketing spending quantitatively, while 44% have a good qualitative sense, but not a quantitative one. That leaves about 1 in 5 unable to show the impact yet at all. In comparison to the February survey, there has been no change in the ability for CMOs to quantitatively prove their short-term impact, while there’s been an increase in the percentage unable to measure it at all. Read the rest at MarketingCharts.