In my first job in advertising telesales, we were encouraged to use the following phrase to get around the old "I have no money" objection:
"When business is good, it pays to advertise; when it's not so good, you need to advertise."
Sure, it was cheesy as hell but to a degree the principle still holds true. However, trying to convince the company board that you need to spend more - or at the very least the same - when revenues are dropping is challenging in the extreme.
As a result, getting your attribution model and process in shape is more critical than ever, as it allows a clear demonstration of ROI across the marketing function and the strategy / tactics you've employed.
After all, those dropping revenues may be nothing to do with marketing and everything to do with those cheesy sales people.
The marketing role is always evolving. Increasingly marketers are taking on P&L responsibility. CMO marketing technology spend is now rivaling CIO technology spend. Gartner reported earlier this year that 75% of marketing leaders said they own or share responsibility for the P&L. As Gartner’s Jake Sorofman said, “Over the past several years, we’ve witnessed an expansion of the CMO mandate, from what was largely a promotional role to what is now often seen as the growth engine for the business.”