Nov 2020 Engelina Jaspers
Scaling the Value of the CMO
How to Globalize, Modernize and Optimize Enterprise Marketing Operations with Interim CMO Domain Experts and Advisors
Program Details
Sponsors and Partners:
About sponsor
Chief Outsiders, LLC is a nationwide "Executives-as-a-Service" firm, with more than 70 part-time, or fractional, Chief Marketing Officers (CMOs) engaged from coast-to-coast. Unlike other strategic marketing and management consulting firms, each CMO has held the position of VP Marketing or higher at one or more operating companies. Chief Outsiders have served on the executive team of over 1,000 client companies to drive growth strategy and execution plans for a fraction of the cost of a full-time executive. Because of its market-based growth plans, quality of leadership, and experienced team, Chief Outsiders has been recognized for the past seven years by Inc. Magazine as one of the 5,000 fastest growing privately held companies in the US, and was recognized in 2019 as a Forbes Small Giant. Chief Outsiders’ CEO Art Saxby and Principal Pete Hayes are the co-authors of “The Growth Gears: Using a Market-Based Framework to Drive Business Success,” an Amazon #1 best-seller for business owners and CEOs.
About sponsor
C-Suite Network™ is the world’s most trusted network of C-Suite Leaders, with a focus on providing growth, development and networking opportunities for business executives with titles of Vice President and above from companies with annual revenues of $5 million or greater.
Overview
The CMO Council predicts fractional CMO use in large global enterprises will likely grow in 2021 filling essential holes, gaps, functional deficiencies, escalating digital marketing complexities and strategic leadership demands. Interim resources bring on-demand, experienced and mission-ready skills to the table. Time -to-value creation is short and each fractional leader comes with relevant domain expertise, “plug and play” immediacy, proven best practices, as well as a network of executional resources for outsourcing additional work. In partnership with Chief Outsiders and the C-Suite Network, the CMO Council will explore the role, value and contributions of interim marketing advisors and senior staffers. And how they add applied expertise, capability, adaptability and scale to the Office of the CMO.
background
Chief marketers are stretched and challenged like never before. The global pandemic has disrupted markets, operations and customer behaviors. Agile recovery and new routes to revenue are the new imperatives. Leaner, more digitally proficient marketing organizations with shared purpose and greater productivity are a key deliverable for 2021. Better integrating and leveraging new automation platforms, tools and actionable data insights critical to campaign performance are now an essential CMO mandate.
CMOs also have greater distractions and demands on their leadership and expertise. Markets are consolidating. Consumers have become more digitally demanding in their desire for instant and satisfying omnichannel engagement. Massive shifts are occurring in customer purchasing through both online and physical channels. New cloud and web-native entrants are disrupting and transforming under-performing companies and categories. And global enterprises are re-organizing, shedding, merging or acquiring new assets to compete in a tighter, more unpredictable geo-political and economic environment.
Savvy, seasoned leadership is in short supply and those in the office of the CMO are being challenged by talent turnover, transformation and testing times. Management and boards are looking to marketing leadership for inspired thinking around business recovery, predictable and profitable revenue growth, improved operational capacity and efficiency, effective demand generation and pipeline provisioning, as well as new areas of customer value creation and revenue optimization.
These are tough deliverables for one leader, often having the CMO title but not the territory or authority to effect change and improvements in all areas of customer experience and growth. Indicators of this are the increasing proliferation of specialist chief titles (revenue, growth, digital, data, relationship, commercial, brand, etc.) eroding the CMO’s capacity to operate effectively, seamless and transparently without close collaboration and shared interests.
Research: Survey
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Facts & Stats
Oct 2020
75 percent of CMO appointments in the first half of 2020 were external hires, a number that jumped to 80 percent between April and June as companies looked for people with skills to “adapt to rapidly changing consumer behavior.”
Source: Ad AgeSep 2018
In the C-suite, CMOs are bringing a lot more to the table than just marketing: 68 percent of senior managers now expect CMOs to be growth drivers.
Source: Digital Marketing InstituteJul 2017
23 percent of CMOs have an enterprise-wide role and because of the scope of their responsibilities and the organization-wide nature of their impact, marketers with this kind of experience have historically been seen as strong general managers and are often tapped for CEO roles at other firms.
Source: Harvard Business ReviewJul 2017