People ask me all the time for advice — I frequently answer questions on Reddit, Quora, and LinkedIn to a mix of executives, business owners, and job seekers. The other day, a potential client sent me a set of questions — so instead of just sending them to him, I thought I’d let you all in on how […]
Some good news for marketing heads: Chief Marketing Officers (CMOs) are holding on to their jobs longer. Spencer Stuart’s annual survey of CMO tenure at the 100 most advertised brands in the USA reveals average time on the job has risen to 28.4 months from 26.8 months in 2007 and 23.2 months in 2006.
The popular interpretation of this data is that CMOs are aligning better with CEOs. The latter are no longer expecting instant rainmaking and the former have learnt to be humble. CMOs have learned not to pontificate about brand values before researching the issue, and they no longer fire the incumbent advertising agency the day after being appointed. The best CMOs stay low-key and aim to make the CEO, who is often from a non-marketing background, comfortable becoming the chief cheerleader for the brand.
The economic recession has, perhaps surprisingly, elevated the standing of the CMO. It hasn’t always been this way, to be sure. So how can CMO’s solidify this standing with the chief? Here are the four top marketing issues on which today’s CEOs are looking to their CMOs for guidance:
Shifting consumer behavior. The recession has induced dramatic changes in consumer attitudes and behaviors in many categories. Companies need updated consumer research and revised approaches to customer segmentation. The CEO needs a CMO who understands the company’s brands and consumers (and their comparative profitability) to recommend needed changes in customer targeting and brand messaging.
It’s the chief marketing officer. Chances are, yours is just leaving.
The chief marketing officer, or its org-chart equivalent, may be the riskiest job in the American C-suite. A veritable who’s who of companies–Coca-Cola, Wal-Mart, Best Buy, Gap, and Verizon –have seen their CMOs depart within the past 12 months. And that’s just déjà vu all over again: For the […]