Did you know that marketing was first given a seat at the table over 30 years ago? One would think that after three decades, the CMO role would be at a maturity stage. The position, however, continues to rapidly evolve. In fact, the responsibilities of today’s CMOs are multiplying faster than ever. Leaders grapple with increased competition, how to meet consumer demands throughout complex customer journeys, looser control of their brands with influencers, and wrangling the ever-changing data privacy landscape.
The added responsibilities of the CMO have raised the stakes. According to executive recruitment firm Spencer Stuart, the average CMO tenure in the US fell to 40.0 months in 2020, its shortest since 2009. To succeed, CMOs must closely align their marketing initiatives to their business and drive measurable results. After all, it is the CMO who ultimately represents the voice of the customer or—in revenue speak—the path to purchase.
To help CMOs on the path to success, eMarketer recently defined three key initiatives: Connecting the marketing strategy to the business strategy; adopting a leadership style that matches the organizational strategy; and, seeking roles in which the CMOs’ core strengths align with the needs of the specific opportunity.
As no two businesses are alike, no two CMOs are identical. It takes different skill sets to manage through the key initiatives we identified. To help marketers, CMOs, and business leaders understand what it takes to recruit, refine, and retain a successful CMO, eMarketer identified five CMO archetypes to match attributes to the expected focus of the role.
1. Strategy-Focused CMOs Set the Company’s Vision
2. Revenue-Focused CMOs Drive Business Growth
3. Brand-Focused CMOs Build Equity and Value
4. Engagement-Focused CMOs Seek Customer Connections
5. Experience-Focused CMOs Act as the Customer Advocate
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