When we asked over 300 marketing leaders in the U.S. to identify the activities they find most challenging, the number one thing they reported, by a wide margin, was “demonstrating the impact of marketing actions on financial outcomes.”
8 Ways Marketers Can Show Their Work’s Financial Results
CMOs who do it will thrive.
July 31, 2019
Summary.
Ask marketing leaders what task they find most challenging, and you’re likely to hear “demonstrating the impact of marketing actions on financial outcomes.” This is a longstanding challenge for marketers: they want to demonstrate financial impact in order to show accountability for business results, but marketing measurement is often less precise than the measurement of other business activities. How can marketers overcome this challenge? Researchers consulted on both sides of this issue: with CMOs seeking to demonstrate their financial impact, and with CFOs, COOs and CEOs seeking to understand it and make effective decisions on marketing investment. Based on this dual perspective, they’ve outlined eight steps that can help.
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New!
HBR Learning
Marketing Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Marketing Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to communicate with your customers—strategically.