Marketing isn’t a cost center anymore
For most of its history, marketing lived on the expense side of the ledger. It was the function that built awareness and made the company look good. Its budget was treated accordingly: nice to have, first to cut, hard to defend in a downturn. But that era is ending. There is growing consensus that marketing’s role has shifted and that its job now is to help drive the business and align more…
Marketing has transitioned from being a cost center to driving business growth and aligning with sales KPIs. Recent surveys indicate that 85% of B2B marketing leaders now prioritize measuring marketing's return on investment (ROI), rather than just creating creative content. As a result, CMOs are moving up the corporate ladder, with 62% of them leaving their roles to become CEOs. The boards are recognizing the value of marketing experience, with 37% of Fortune 500 CEOs having a background in marketing.
However, this shift brings challenges. Only 48% of marketing leaders can accurately determine which marketing actions influence purchasing decisions, signaling a gap in their ability to demonstrate impact. Channels such as social, display, and audio are often used to drive pipeline growth, but marketers struggle to reliably trace which activities lead to deals. This presents an opportunity for companies to rebalance their marketing strategies by prioritizing channels that produce evidence to close the gap faster.
As B2B buying processes evolve, involving multiple internal and external decision-makers across various channels, marketers must adapt. Improving visibility across channels and measuring the collective impact of buying groups, rather than just individual leads, has become a top priority for 84% of marketing leaders. While this transition comes with increased pressure, the upside is substantial.
CMOs are stepping into higher roles within the company, and marketing is gaining genuine influence over growth. By focusing on data-driven strategies, marketers can position themselves to run the company, capitalizing on the newfound authority and responsibility.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
