A CEO walks into a CMO’s office.
CEO: Is our marketing working?
CMO: What?! Yes, business is good, we are growing, and all the KPIs are positive. You’ve seen the data, why do you ask?
CEO: True. All indicators are positive, it is a good year, but is our marketing effective?
CMO: What do you mean by is our marketing effective? You’ve seen the results.
CEO: Yes, but how do we know that it’s the marketing that’s driving this growth and not market conditions? Our product/service quality beats the competition, our service reviews are high, our price is right, and even the market environment is favourable. What about marketing communications?