Why do CMOs fail? The prevailing talk track is that CMOs come from one of three disciplines: - Demand Gen - Product Marketing - Communications While possibly true, I’d maintain it’s irrelevant to failure. Instead, I’d maintain that the modern CMO looks more like a GM of a business. That the reason for failure is a lack of realization of this point. Let’s look at the modern CMO from a different perspective: => You are responsible for growing the company. Not leads. The company. => You control one of the largest non-headcount budgets in the company. => You lead a diverse team with multiple external partners. => You manage an expensive & complex tech stack. => You are one of the largest drivers of data & analytics in the company. => You are responsible for the brand and image of the company. => You must know your market, customers, and portfolio as well as any team. => You are in charge of bringing innovation to market. => If your company needs to transform digitally, you likely lead the way. => You need to empower a team that likely feels underappreciated. => You are the voice of the company and a reflection of the CEO. When I look at this list, it’s clear why the role is scrutinized so heavily. Expectations have changed. Or, maybe you, as a CMO, have never thought of yourself as a GM of the business first. I’d welcome seeing leaders from outside marketing stepping into CMO’s roles, as the requirements outlined above are more a function of leadership than technical skills. Use this list to take stock of where you are today. Use it to set expectations for your next role. #marketing #b2bmarketing #leadership
💯 This is spot on! When marketers come to me for advice on how to become a marketing leader, I always suggest they spend some time at a start-up. It’s one, maybe two, rarely three marketers doing every function of marketing. You’re no longer siloed into a specific marketing discipline. You’re creating a brand from the ground up - and image is everything. Every penny must be counted (so get scrappy and defensive with your allocations). You probably have no tech (implementations are always fun), few processes (hello customer feedback), and every eye is on you for results (which means you’re switching from creative to analytical thought constantly). Not to mention that your livelihood legit depends on the growth of the company (not the leads you bring in). Combine that with a need to equally “sell the dream” internally and likely a direct connection to the CEO it’s a perfect pathway to the CMO role. (Assuming you still want it 😬) 🦄
That first point really stands out to me, Casey. When I come across a marketing leader who's job is seen mainly as a lead gen machine, I can't think of how soul crushing that must be. What's just as bad is when you hear marketing primarily described as being "in service of sales." As though it's a subordinate role sole purpose is to churn out MQLs and build sales decks. If marketing isn't also contributing product direction, customer retention/expansion, word-of-mouth growth of the brand, employee recruiting, and investor relations, it's just a watered-down version of what it could be.
Spot on. The marketing role has evolved much faster than any other function. Many CMOs today have a bigger digital budget than the CIO. The people dynamics in marketing can get more complex than the typical CHRO gets to deal with. Throw in accountability for revenue growth and a healthy brand P&L. Probably explains why any CMO who consistently succeeds at the role tends to make a well grounded CEO when they transition.
Yep; leadership! I started my career as a therapist, so, technically, I’m an "outsider". That said, in my extensive marketing education, I have never looked at marketing as anything other than “as a GM of the business first”. Drucker expressed it properly: “Marketing is not only much broader than selling, it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is, from the customer's point of view.”
The role of a CMO is defined by the organisation’s strategic orientation. When an organisation is market-oriented, the CMO, undoubtedly becomes the key driver. Different organisations have different priorities and orientations, and their key drivers are configured accordingly. For example, a product-oriented organisation will place the product manager as their key driver.
That’s a hot take but it’s definitely s very accurate analysis. I think that very gew companies look at a CMO that way but even more frequently CMOs don’t think of their function that way.
Which is why CMOs are the next CEOs too!
Cassidy - Excellent perspective. I dig this.
Marketing IS the business, so to add to your list, a CMO and their team must know the business inside and out from operations, sales, and finance. I like how you said that a CMO should have a GM lens, especially since the marketing group has to work cross-functionally each and every day in order to deliver results with activities that are not always tangible Thx for sharing Cassidy
The CMO is the one role in the c-suite that turns over with the highest frequency - particularly for the points you listed above. But one that you completely missed. When the CEO stands up - everyone listens - she knows the most about the business. When the CFO stands up - everyone listens - she knows everything about our financial position When the CIO stands up - everyone listens - he's the smartest tech guy in the company When the CRO stands up - everyone listens - she drives all the sales When the CMO stands up - everyone in the room is a marketer. Even the conversations we have where a "marketing degree" is not as valuable as it once was still creates the problem that the CMO is the person who is most often disputed or challenged on what they do. It's the hardest job in any business - not even close.