Chief executives are also aware of the problem.

Last year, full-service independent ad agency Boathouse Group commissioned a survey asking CEOs to grade their CMOs on a variety of topics. Most respondents gave their top marketer a B on overall performance. More CEOs handed out Cs than As. Questions about a CMO’s ability to drive growth and translate company objectives into marketing goals also received mixed reviews.

It’s not a strong sign that marketers deserve more money and resources, especially when facing a potential recession.

Ways to resist

For CMOs willing to put up a fight, there are options.

First, experts advise marketers to think and speak like a CFO. Get comfortable with financial metrics. Embrace the jargon. Document where each ad dollar is going and be ready to answer why it’s going there.

Second, tell a compelling story based on data. Examine historical periods that resemble the present and study statistics that point to a likely future. And remember: The intended audience here is the CEO and CFO, who may not care about popular marketing KPIs, such as brand awareness or social engagement.

All that said, additional numbers from NewtonX show that while many CMOs expect economic uncertainty to continue throughout 2023, only one-third anticipate they’ll receive a smaller budget than in 2022. A quarter of marketers estimate their budget will remain about the same as last year, while 38% believe they’ll get increased funding.

“Marketing budgets are not decreasing across the board,” said William Lee, manager of strategic insights and analytics at NewtonX. “Not all CMOs are in panic mode.”

Ultimately, there are many tools and platforms to connect marketing activities with sales lift. It’s not a completely unintelligible exercise that’s all art and no science. Patterns do emerge. But the aim in defending budgets is to persuade those who control them.