HOUSTON, TX – June 15, 2021 –While revenue and sales growth rank as management’s top mandate for marketers, CMOs will be more than happy with grades received in a new C-Suite Scorecard of marketing value and effectiveness released in a report today by the Chief Marketing Officer (CMO) Council.
Report is available for download at https://cmocouncil.org/thought-leadership/reports/c-suite-scorecard
The findings were based on a 2021 survey fielded by the CMO Council in partnership with the C-Suite Network, Business Performance Innovation (BPI) Network, and a Harvard Business School alumni association. Underwriting for the project came from Chief Outsiders, a leading fractional CMO service provider.
Survey participants (120) included a mix of senior management executives across companies of all sizes, industry sectors and diverse leadership roles. Nearly 40 percent of respondents were in companies of more than $1 billion in annual revenue and an additional 21 percent were drawn from mid-sized companies with revenues of $100 million to $1 billion. The balance of survey takers (39 percent) came from companies with less than $100 million in annual sales.
The Business Leader Scorecard of Marketing reveals:
“Business leaders appear to have more confidence in marketing leadership with 62 percent of survey respondents considering the essential role of the CMO as ‘customer experience advocate and champion’ in their organization,” notes Donovan Neale-May, executive director of the CMO Council, which has 16,000 members in 10,000 companies worldwide. “The fact that the secondary view of CMOs is ‘digital transformation/marketing automation leader’ is also a real plus give the modernization mandate in a digitally connected world.”
On the other hand, business leaders are looking for marketing to step up in five key areas of performance and value creation. Most notably, marketing needs to strengthen and improve:
When asked about leadership gaps and holes in their marketing organizations, business executives listed the primary areas where they see a need for more skills, proficiency and capability. This includes:
According to Chief Outsiders, a nationwide “Executives-as-a-Service” firm, demand for part-time, or fractional, chief marketing officers has never been higher in large enterprises where immediate resources might be needed triggered by competitive market conditions, diversification, restructuring, acquisition, growth, or a changing digital business model.
“Enterprise organizations are finding our “plug and play” model increasingly appealing,” notes Art Saxby, co-founder and CEO of Chief Outsiders, who points to the time it takes to onboard senior talent and establish credibility in the organization. “More and more large organization are tapping our veterans who are available on-demand with the domain expertise and experience to assume whatever role required for as short or long as they are needed,” he adds.
The C-Suite Scorecard findings attest to his point-of-view. Business executives believe interim or fractional marketing leaders can add value in the top five ways
In addition, research results show distinct variations in responses from business leaders at companies with more than $500M versus those with less than $500M:
About the CMO Council
The Chief Marketing Officer (CMO) Council is dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide-range of global industries. The CMO Council’s 16,000+ members control more than $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include over 65,000 global marketing and sales executives in over 110 countries covering multiple industries, segments and markets. Regional chapters and advisory boards are active in the Americas, Europe, Asia Pacific, Middle East and Africa. The Council’s strategic interest groups include the Customer Experience Board, Digital Marketing Performance Center, Brand Inspiration Center, Marketing Supply Chain Institute, GeoBranding Center, and the Coalition to Leverage and Optimize Sales Effectiveness (CLOSE). To learn more, visit https://www.cmocouncil.org.
About Chief Outsiders
Chief Outsiders, LLC is a nationwide "Executives-as-a-Service" firm, with more than 80 part-time, or fractional, Chief Marketing Officers/Chief Marketing Outsiders (CMOs) engaged from coast-to-coast. Unlike other strategic marketing and management consulting firms, each CMO has held the position of VP Marketing or higher at one or more operating companies. Chief Outsiders have served on the executive team of over 1,150 client companies to drive growth strategy and execution plans by offering instant access to talent with highly customized and flexible engagements.
Because of its market-based growth plans, quality of leadership, and experienced team, Chief Outsiders has been recognized for the past seven years by Inc. Magazine as one of the 5,000 fastest growing privately held companies in the US, and was recognized in 2019 as a Forbes Small Giant. Chief Outsiders’ CEO Art Saxby and Principal Pete Hayes are the co-authors of “The Growth Gears: Using a Market-Based Framework to Drive Business Success,” an Amazon #1 best-seller for business owners and CEOs. For additional information about the companies who trust Chief Outsiders as their premier source for business growth acceleration, click here.
CONTACT: Sterling Wilkinson, SWilkinson@ChiefOutsiders.com
Topics: Press Release6.15.2021