Earlier this week, we announced our new partnership with IBM to help provide budgeting and planning solutions for marketers. We’re excited to be working together to help CMOs answer important business questions using marketing technology. We know the role of the CMO encompasses a wide variety of responsibilities — finance, technology and personnel as well as marketing — and it continues to change as tech advances. This week, I’ve gathered a selection of articles that look at the changing role of the CMO.
Lack of CMO-CIO Alignment Threatens to Stagnate Digital Transformation. Information Age: “It sounds good in theory to say that the CMO and CIO should work together – but what does that really look like? How can the two organizations foster that balance in practical terms?
For starters, the organisations have to meet each other halfway. The CMO should take a wider view of strategy, process and business-model issues that affect the organisation as a whole. While some CMOs might also wear the hat of a digital business strategist, that’s not the only option. A company can hire a chief technology officer or even a chief digital officer to fill that role.”
CMOs Served Notice: If They Don’t Drive Digital Transformation, CIOs and CTOs Will. Media Post: “The good news for the CMO fearing they may have missed their spot as the ‘gas pedal’ for driving digital change comes with the observation that although nearly two in three CEOs want to start a digital transformation, only just over a fifth have. The takeaway? There’s still some time for digital marketers to put themselves at the forefront of this revolution, and if they don’t, they can rest assured the CIO or CTO will.”
CFO as Marketing Chief? Maybe Not as Unusual as You Think (or Maybe So). Ad Age: “Why would Twitter put its chief financial officer in charge of marketing? Even people with only a passing interest in advertising pondered that question when it emerged that Twitter CFO Anthony Noto had taken control of the company’s marketing department…Now would certainly be the time to have an experienced marketer in place to persuade more consumers to start tweeting, and to articulate why brands should advertise on Twitter over, say, Facebook.”
The Best CMOs Combine 4 Leadership Styles. HBR.org: “Performance CMOs focus on tracing the thread between marketing spend and business outcomes. They’re obsessive about earning their keep by proving their worth. This means using data, analytics, and often a complex web of top-down models and bottom-up tagging and attribution techniques to help illuminate which marketing investments are — and are not — moving the needle for the business.”
Changing Roles Inside the C-Suite. Computer World: “Because of the obvious importance of customers and the widespread embrace of top-of-the-house-initiated campaigns to become customer-centric, the CMO role is thought by many to be expanding. And in certain cases, it is. Andy Childs, CMO at Paychex, owns not only traditional marketing, but strategic planning and M&A as well. But such is the importance that customers have achieved that other corporate officers are getting involved in the quest to nurture them — including the CIO. Meanwhile, there are indications that the status — the ‘executiveness’ — of the CMO is declining. As reported in The Wall Street Journal, a recent Korn Ferry survey found that 34% of respondents said they think their CMO could be a likely CEO candidate. But when the same question was posed two years ago, 54% of respondents said they thought their CMO was poised for the company’s top job.”