CMOs and CEOs at enterprise companies are increasingly disconnected over the definition of marketing, comfort with modern marketing, and measuring marketing impact, according to recent research from McKinsey & Company.
The report was based on data from a survey conducted in 2024 among 75+ CMOs and CEOs who work for Fortune 1000 companies in Asia, Europe, Latin America, and the United States. The researchers compared the survey findings with the results of a similar survey conducted in 2023.
The proportion of CEOs who say marketing is clearly defined and understood by the C-suite dropped 20 percentage points between the two surveys.
Some 64% of CEOs surveyed say they feel comfortable with modern marketing. However, only 31% of CMOs say their CEO counterparts are comfortable with modern marketing.
Some 70% of CEOs surveyed say they measure marketing impact based on year-over-year revenue growth and margin percentage. However, only 35% of CMOs say they track year-over-year revenue growth and margin percentage as a top metric.
About the research: The report was based on data from a survey conducted in 2024 among 75+ CMOs and CEOs who work for Fortune 1000 companies in Asia, Europe, Latin America, and the United States.
