Why The Best Chief Marketing Officer Might Not Be a Marketer: Introducing the 360-Degree CMO
Focus on ceo: are you looking for the chief marketing officer? Don\'t hire marketers! Well, maybe it\'s a bit too much. Maybe, I should say, \"Don\'t just hire marketers. \"CMO has been responsible for enterprise positioning, product marketing, demand generation, etc. However, over the years, the scope of action of a typical CMO has been greatly expanded and is now more influential and responsible than ever before. This is because the boundaries between marketing and sales, marketing and product management, marketing and corporate strategy, marketing and IT continue to blur. Unfortunately, many CMOs lack the necessary depth and breadth to handle the role of this extension. A recent study by the Fournaise group found that 80% of the 1,200 CEOs did not trust and were not impressed with the work of market personnel. ( By contrast, 90% said they value CIOs and CIOs). The typical CMO starts with the marketing analyst, then the marketing manager, then the marketing director, the vice president of marketing, and finally the day of CMO is over. The expansion of the marketing function and the expected increase need a new CMO, which has more cross-cutting Professional knowledge and experience. Therefore, the future CMOs needs to demonstrate marketing leadership and business leadership. What? Will CMO really sell things? CMOs will continue to take more direct responsibility for sales. As self- Service e-commerce continues to grow, and many direct sales teams will shrink in size. According to Forrester, 75% of B2B customers say it is more convenient to buy from a website than a direct sales representative. Forrester also found that 93% of people said they prefer to buy online when they decide what to buy, rather than from the sales staff. Given that the marketing function manages most corporate websites, CMOs will have a certain level of accountability and quota for online sales. Marketing and engineering: perfect marriage, like oil and water engineering and product development, marketing can be your friend. In this era of rapid prototyping, software testing, downloadable upgrades, creative packaging/pricing, market analysis and customer insights will be more important than ever. Especially in the highly dispersed B2B industry such as analysis, collaboration, security, storage, etc. Timely analysis and insight can provide key input into many areas such as product roadmap and new product launch. To this end, CMOs will play a broader and deeper role in linking engineering and product development to customers/markets through more like Chief Customer officers. Multiple factors such as marketing, IT and data mining, such as digital marketing, social media, SEO and increased utilization of online sales, for new IT investments, the budget for CMOs is usually the same or higher as the CIO. In addition, in order to better understand potential customers, buyers, users, market segments and competitors, the surge in analysis has created an enterprise \"center \"--of- Big data within the scope of marketing functions. Obviously, marketing is completely inseparable from technology, systems, and data. Therefore, CMOs needs to have a solid technical foundation and experience in data science applications. Return on Investment in Marketing: Myth or Reality? Multiple industry surveys have found that most CEOs are frustrated by the lack of measurement and return on investment in CMO. For example, the above survey by Fournaise group found that 74% of CEOs want their CMOs to focus more on return on investment. So the new generation CMO will truly understand and master Experience on how to deliver based on key financial indicators such as P & L and ROI. CMOs will analyze and make potential marketing investments in a manner similar to the general manager or department president. Introducing. . . the 360- The degree of CMO in the future will be 360-degree CMO. What exactly does this mean? Although CMO will definitely continue to be a marketing leader, he or she will also do it himself Relevant Experience (or most) Areas discussed before While this may seem like a daunting task, it\'s no different than the expectation of a potential CEO candidate --- Complement a range of adjacent experiences and achievements for the position. The expansion of the CMO role scope is the only position in the company that is close to the breadth and depth of the CEO role. So why should we expect less from CMO? Besides cross- 360 functional experience The degree CMO will also be good at managing and really delivering ROI. Ultimately, the marketing project itself is not important. Revenue generation and market growth are critical! Of course, not every marketing investment is expected to bring a \"hard\" dollar return, but it can still be measured and evaluated in a quantifiable way. The 360- The degree CMO will continue to focus on the value of the marketing investment, taking more \"general manager approach\" to potential investment options \". So remember, sir. or Ms. CEO: Your next CMO should not only have deep qualifications, but also have broad qualifications. Go with a 360- CMO degree, you will never look back.