The average tenure of a CMO is approximately 4 years. The tenure doesn’t change whether you’re a new, legacy, or ascending CMO. The tension in the business and especially marketing continues to rise. The results you’ve been promising to deliver to the CEO and CFO continue to fall short.
The average tenure of four years for a CMO comes from credible sources: Spencer Stuart, Advertising Age, Wall Street Journal, SBI and Forbes. However, SBI’s reach took it a step further by studying long-tenure CMOs. We found CMOs with the right marketing strategy enjoy job security for 9+ years.
Based on SBI’s Annual Research Report, 71% of marketing teams don’t have the right marketing strategy. The wrong marketing strategy is the biggest contributor to the reduced job tenure. The marketing strategy gap is the #1 obstacle to marketing’s revenue contribution.
In contrast, the CEO has an average tenure of 7-8 years, according to the same sources. The CEO’s response to a marketing leader who does not contribute revenue: replace them. CMOs that have developed the correct marketing strategy enjoy the same average tenure as the CEO.
SBI’s research further studied the CMO with the right marketing strategy. This included differences in brand presence and increased earnings.
SBI’s research highlighted how CMOs double their brand presence. The brand presence was measured by social and traditional media. Marketing leaders who contribute revenue with the right marketing strategy enjoy 65%-132% better performance.
The performance success translates into a better personal brand for you. You live in the era of big data, where the personal brand of a marketer can be measured. Let’s face it, your personal branding ability is an indicator of marketing competence. The inspection of your personal brand includes the Board and/or CEO.
The final reason for having the right marketing strategy is compensation. SBI found best-in-class marketing teams with the right marketing strategy exceeded analyst EPS estimates 88% of the time between 2012 and 2013.
In contrast, the broad market beat estimates by 67% during the same time period. This translates to a 31% greater chance to exceed these estimates (than companies with the wrong marketing strategy).
Marketing leaders with the right marketing strategy earned more than those with the wrong marketing strategy.
The question is, are you one of the 71% with the wrong marketing strategy? You could sign up and download the marketing strategy research and find out. If you are one of the 29%, there is no reason to do anything differently in 2015.
If your answer to one of these questions is yes, then you should consider reading the research report.
• My marketing strategy is NOT much different than my competitors?
• I have NOT aligned my marketing strategy to my buyers?
• My marketing strategy is NOT much more than just a bunch of tactics?
• I have NOT aligned my marketing strategy specifically to our product/solution road map?
• My marketing strategy is NOT clearly aligned with the corporate strategy?
If you found the yes/no questions difficult to answer, download the research report and invest in yourself. Not knowing if you have the right marketing strategy is dangerous.
Start with reading the How to Increase Marketing’s Contribution to 2015 Revenue report here. Complete the associated marketing assessment checklist. It should take 10 minutes. Completing the checklist provides a summary of alignment, gaps, and gulfs. After completing the analysis you’re ready to develop or update your marketing strategy. If you’re interested in reviewing the report in more detail schedule a 90 minute 1-1 review here.
If you have any other questions, connect with me via a LinkedIn Inmail.