Not every portfolio company requires a Chief Marking Officer. But, according to Chief Outsiders’ Slade Kobran, in the right situation, CMOs can make a real difference with a clear mandate and specific metrics.
A lot of businesses can flourish for years without a formal marketing strategy. Plenty of hardscrabble entrepreneurs find the right door to knock on, and even the right message, for the moment. But eventually, as business grows, they may hit a snag. That’s often the time that private equity firms step in to offer their capital and expertise. And given that growth is key to generating returns these days, a company’s marketing becomes a crucial element.