We’ve all heard that the average tenure of a CMO is less than 2 years, but why is that. Recently, Chief Outsiders conducted a LinkedIn survey to better understand why, and the number one reason was related to credibility. More specifically, it is directly related to the inability of the CMO to gain credibility with the c-staff.
In large part, I believe this inability to gain or maintain credibility, has a lot to do with the rapidly changing role and expectations of marketing. I recently read a report from CMG Partner’s titled: The CMO’s Agenda. This report provides significant insight into the rapidly changing world of the CMO, based on interviews and insights from several CMOs from large and mid-sized companies from multiple industries. CMG describes the changing role of the CMO in three stages depicted below:
Three Stages of the Lead Marketing Role
(and key performance measures)
Think about it: it was not too many years ago that marketing was the communications department down the hall that created the brochures, supported sales and had defacto responsibility for the company brand. It is a different world today. Technology has changed everything. The Internet alone has changed and empowered buying behavior on every level, forever. On the flip side, technology has also provided the Marketer with tools and capabilities to define, touch and influence target markets and buyers like never before. These changes have put the CMO in the driver's seat to define business strategy and set the growth agenda.
Those CMOs that understand the impact of technological change on their target market and their ability to influence that market will be in the best position to win in the marketplace. There is no better way to gain or maintain credibility than by winning.
- Rex Bull, Chief Marketing Outsider