The relationship between chief marketing officers and chief executive officers is facing renewed strain, according to new global research from McKinsey & Company. Misalignment between the two roles has grown 20% since 2023, driven by a lack of clarity over the CMO remit and the perceived disconnect between marketing activity and commercial growth metrics.
The study, developed in partnership with the Association of National Advertisers (ANA), surveyed more than 100 senior executives across the US, Europe, Asia and Latin America – including 75 CEOs and CMOs from Fortune 1000 companies.
McKinsey & Company’s findings highlight growing concern that marketing leaders are being sidelined from strategic conversations, underfunded, and undervalued as growth enablers. The research also includes insights from chief financial officers for the first time, painting a fuller picture of internal dynamics in the C-suite.
Role confusion puts marketing influence at risk
According to McKinsey & Company, only 70% of CEOs believe the role of marketing is clearly understood within their organisation—down from 90% two years ago. And just half of CMOs surveyed said their department is involved in corporate strategic planning.
This misalignment has implications for marketing’s authority and investment. While 80% of CEOs and 77% of CMOs believe their marketing budgets are insufficient, the report suggests the problem stems less from resourcing and more from a failure to connect marketing to business-critical outcomes.
“The CMO can’t be relegated to a very tactical role,” said Shelley Stewart III, senior partner at McKinsey & Company. “It’s got to be much more strategic. CMOs need to work alongside strategy and finance leaders to make marketing a growth driver.”
The data supports this. Only 35% of CMOs track year-over-year revenue and margin growth as a top performance metric—compared with 70% of CEOs who say those metrics define success.
CFOs demand clearer ROI
The gap between marketing activity and financial impact is also felt by finance teams. One CFO from a global gaming company told McKinsey & Company: “Once we agree on company goals and metrics, I expect marketing to tie activities to that big picture. I don’t want to hear about brand awareness if that’s not one of our agreed priorities.”
Only 30% of respondents believe there is a clearly defined view of what constitutes marketing ROI. Meanwhile, the proportion of marketers who say their KPIs align with overall company growth metrics has dropped from 88% to 79% in the past year.
Strategic integration is the way forward
To strengthen marketing’s influence at the top table, McKinsey recommends a more integrated approach – one where CMOs are aligned not only with customer experience and innovation but also with broader corporate strategy and financial performance.
General Motors SVP and CMO Norm De Greve agrees. “It’s critical to align marketing with financial objectives to build trust and credibility,” he said. “I’m proactive about sharing what we are doing and how we are driving ROI.”
The McKinsey & Company report urges companies to redefine how they measure marketing value—not just by channel performance or brand reach, but by long-term business impact.
“CMOs should be at the centre of how a business thinks about growth,” added Stewart III. “Customer centricity is at the heart of every successful business—and CMOs are the ones who actually understand the customer journey.”
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