The benefits of a security awareness program are many.  Here's a list of 11 to consider: 
A good awareness program:

1.    Can help protect company assets;
2.    Should show the connection between the security program and the success of the enterprise;
3.    Inform employees of their security obligations;
4.    Connect the program objectives with specific countermeasures;
5.    Identify resources to assist in security conformity;
6.    Comply statutory or common law requirements with notification;
7.    Comply with regulatory measures;
8.    Comply with contract obligations;
9.    Help prepare the organization for emergencies;
10.  Reduce organizational liability; and finally,
11.  Communicate the value of the security department.

I suspect the reason why good awareness programs are few and far between is that they are not created, supported or promoted enough within organizations by the security group. When was the last time you attended a conference on creating a good security awareness program? This is certainly not the general topic of conversation between security managers. Have you ever walked up to a fellow practitioner and asked him or her to share security awareness strategies? However, their value, in my opinion, is vastly underrated. For the standard security manager to take the time to identify the aforementioned 11 reasons and articulate how their program meets those benefits, would show a tremendous amount of thought, research and work. It would, in my opinion, also help the security manager clarify what exactly they are doing in the way of creating a comprehensive security management strategy and then implementing it.