When CMOs fail to own their strategic leadership roles, everyone suffers
Think about it – can you imagine any CFO inspecting employee timesheets or questioning why that guy in Product spent $37 for lunch last week?
Could such a person still claim to be living up to the “C” in their title?
And yet, all too often, we hear about CMOs who – in addition to their big-picture responsibilities – find themselves critiquing slipsheet designs or correcting punctuation in white papers.
Somehow the CMO, more than other C-suite personas, is expected to be dotting i’s and crossing t’s – getting into the nitty gritty of anything and everything. This is partly the fault of companies and how they (mis)perceive the roles of Marketing and the CMO. Marketing is a “service” department, according to this line of thinking, and therefore should be willing to serve (coffee, tea, croissants?) the Big Folks who actually “generate revenue” …
Ouch!
First of all, if you do not see Marketing as a revenue-generating department, then it is time for an immediate All-C-Suite meeting to level the playing field and correct perspectives.
Second, while Marketing may be designated as a “service” on someone’s org chart, that word should never be misunderstood to mean “taking orders from everyone at all times.” In this area, marketers need to own the problem as much as their colleagues; whether due to bad examples, or because they at times feel challenged to justify their existences, Marketers often reinforce the “small picture” perception of their abilities and purviews.
The truth is that CMOs need to own their authority – and insist on having others respect it – because the alternative represents a huge loss for the company and the Marketing team.
What the CEO thinks matters – in a big way
I have been reading with keen interest – partly encouraged, partly horrified – the latest annual Boathouse “CEO Study on Marketing and the CMO.” This in-depth report, based on interviews with 150 CEOs from top companies in key sectors, paints a very mixed picture of the ways that CMOs and their departments are viewed and valued.
On the plus side, the proportion of CEOs who see their CMOs as “Best in Class” has more than doubled in four years, from 21% to 45%. The study also shows similar dramatic leaps in the proportions of CEOs who say their CMOs “share my values” and “support me in driving my longterm vision.”
But there are major areas of concern, as well. Only 19% of CEOs give their CMOs a grade of “A” in terms of their ability to drive company growth. And half of CEOs feel their CMOs are “playing it safe,” with a 13% drop in CMOs’ scores for “innovation” and “generating new ideas.”
Perhaps most disturbing is this statement: “Alarmingly, CMOs are often not seen as core to the company's growth strategy, with half on the periphery in an executional or operational role.”
The Boathouse report is complex – sometimes a bit contradictory – but well worth your time. While it can be used to affirm or dispute a host of theories about CEOs, CMOs, and organizations generally, here are a few key points that I took away.
Relationships matter, but metrics still win
The new study suggests that CMOs have devoted worthwhile time and effort building connections to their CEOs. But while the CEOs may feel heard and supported, their gaze still inevitably falls to the bottom line – and what Marketing’s contributions may be. For the sake of the Marketing team, be sure you take a balanced approach that emphasizes relationship building and black-and-white results.
Stay away from your comfort zones
CMOs need to understand their strengths, their potential, and their opportunities. CMOs coming from creative backgrounds may still feel – perhaps even unconsciously – that producing beautiful, elegantly written signage and collateral is their sweet spot. Face it: Doing those things well makes you a Creative Director, not a CMO; and if you do not step up to the plate and dig into your strategic vision and priorities, the company and your Marketing team will pay a price.
Stop trying to please everyone
The “justify your existence” mindset is a huge problem for CMOs and Marketing teams. It manufactures distractions and exponentially creates demands for things that the Marketing team should be handing off to someone else. Make sure that your role as the CMO is understood and honored from the get-go, because trying to fix the situation from two or three or ten years in will be difficult – maybe impossible.
From my view, even the troubling findings of the Boathouse report point to opportunities. The actions required are clear, so all that is needed is commitment to change and improve. And the number 1 improvement to make is for CMOs to insist – in their own minds and those of their colleagues – that their strategic role be seen as mission critical, and to act on that knowledge even when it may require some gentle educating and mindset adjustment.
David Stanton is CEO and Founder of The Marketing Solver™, innovation driven marketing agency bridging the gap between marketing strategy and activation. Please send your comments and ideas to this email.