One of the key roles of a cmo is to facilitate customer experience alongside financial and strategic tasks. As a result. A cmo nes to take charge of aligning an organization’s goals with those of its audience. This requires an outward-facing approach that connects the business with its customers by creating a customer journey map back up by data and insights. This requires cmos – current and aspirational – to diversify and meet the expectations on a company-wide scale in growth. Innovation and analysis. “many cmos have significantly improv their level of influence within their organizations by knowing more about the business. Marketplace and customers than anyone else. The cmos who know the most often have the greatest influence.” chris ross. Vp analyst at gartner the widening scope of the cmo means finding the balance between meeting customer nes while generating revenue and facilitating growth for the company.
How do cmos benefit organizations
Watch: ‘analytics and the consumer journey: with derek liddy’ for some insights on aligning data with the customer journey. Cmos have the shortest c-suite tenure with such a drastic evolution. The definition of the position has creat confusion which is partly responsible for the tenure of cmos being the shortest in the c -suite at only 3.5 years and an average age of 54 years. This is almost half the time of the average ceo tenure of 7.9 years according to korn ferry research. Age and tenure of the c-suite age and tenure of the c-suite now. Most cmos can expect to sit on the executive committee and report directly to the ceo. But the lack of clarity on the role as well as not knowing what an organization nes. Has l to many exploring other job titles like chief growth officer or chief customer officer and alternative avenues such as consultancy.
These areas have more of a defin focus and allow cmos to explore their preferr specifi areas and meet expectations of the c-suite but in a less fluid job role. For example. Our recent cmo research found that the biggest challenges for the marketing sector in 2023 and beyond are: delivering a greater roi unlocking the power of data to drive growth attracting new marketing talent integrating traditional and digital marketing the challenge for cmos is that they have an important strategic focus and ne time to assess long-term growth plans. But a lot of time is spent reviewing financial budgets and dealing with campaigns or content approval leaving little time for their overall remit. The solution? Companies ne to look at their organizational development to meet these changing elements and responsibilities and facilitate the adaptive nature of the market