Never has the CMO role been in such a position of influence and authority of a company. Most organizations are willing to invest in Marketing and in desperate need of a capable leader, however with the average tenure of a CMO falling by more than 20% in the last 5 years, it’s obvious the traditional CMO will not survive.

In 2005 nearly 50% of Fortune 500 companies had a Chief Operating Officer (COO). In 2015 less than 35% had a COO. Why does this matter to you?

 

Once thought of as the obvious successor to the CEO, the COO is now a relic within most organizations. As companies shift from a rigid inward out process focus to an outward in customer centric focus, the COO was often pushed aside for a CMO who can own the voice of the customer and positioning within the marketplace. So why now, is the CMO not thought of as the obvious successor to the CEO?

 

Download the Traditional vs. Revenue Marketing CMO Checklist to review a checklist to ask yourself if you have evolved into a Revenue Marketing CMO, and to compare traditional and revenue marketing CMO’s.

 

CMO’s Have Failed

 

The answer: CMO’s have failed.

 

No, not in hitting their metrics or achieving department goals. Instead, CMO’s have failed in living up to the expectations of a Revenue Marketing CMO.

 

The whole story above about the COO’s declining and CMO’s rising to replace them and become the obvious successor to the CEO left out an important piece. The successor cannot be someone of the traditional marketing ilk. We all know who I’m talking about: funnels, emails, PR, etc. All of last decades best practices. Unfortunately, this is exactly what happened. The CMO didn’t evolve and thus a huge disappointment, leaving the door open for the head of sales to fill the COO vacancy with the inception of the Chief Revenue Officer (CRO). The jury is still out on whether the CRO is a fad or here to stay.

 

It’s Never Too Late To Change

 

To some I am reading the new; to others I am bringing on a painful moment of self-awareness. Don’t worry, I’ve been there many times.

 

So, what should CMO’s have done, and oh by the way, still can do, to seize the moment and evolve into the next CEO of their company?

 

Here are the 4 things the Revenue Marketing CMO is focused on, and you should be too:

 

  1. Customer Experience

     

     The Revenue Marketing CMO obsesses over the customer journey lifecycle and every touchpoint within it. The funnel is gone. CMO’s today manage a closed loop lifecycle, extracting data and insights that impact every department and most importantly, the strategic direction of the company.

     

  2. Data

     

    CMO’s with out a data strategy will die a quick death, while their companies will die a slow and painful death. Many companies are experiencing this right now. Executives are huddled up around a board room making decisions off “gut feeling” and historical experience. While the Revenue Marketing CMO is deploying their team of data scientists to collect, segment and distribute data daily, allowing the business to make real-time decisions back by quantified data.

     

  3. Technology

     

     The Revenue Marketing CMO and the CIO are closer than ever. With the explosion of marketing technologies approaching over 5,000 solutions for B2B marketing alone it is imperative that Revenue Marketing CMO’s not only understand what technology they need but how its used and integrated with the rest of the departments. Remember #2 above, with out technology the data collection is impossible.

     

  4. Change Agent

     

     This has been said before, I know. However, this time its different because the Revenue Marketing CMO has the ability to influence change now. As the owner of the complete customer lifecycle and all the data that comes with it and technology to collect and analyze it, the Revenue Marketing CMO can drive change company wide.

     

Opportunity Meets Timing

 

Never has the CMO role been in such a position of influence and authority of a company. Most organizations are willing to invest in Marketing and in desperate need of a capable leader, however with the average tenure of a CMO falling by more than 20% in the last 5 years, it’s obvious the traditional CMO will not survive.

 

Download the Traditional vs. Revenue Marketing CMO Checklist to review a checklist to ask yourself if you have evolved into a Revenue Marketing CMO, and to compare traditional and revenue marketing CMO’s.

 

Its never too late to change and become the leader your organization needs. Review the checklist above and ask yourself…have you evolved into a Revenue Marketing CMO?

 

 

Read this 3rd Party Article titled “Second in Command: The Emergence of the “Growth CMO.”

 

 

Additional Resources

 

Schedule a working session at SBI’s Studio. 

 

Located in Dallas, TX, our facility offers state-of-the-art meeting rooms, lounge, full-service bar, and a studio used to tape our TV shows. SBI provides the location and facilitators, all at a compelling price point.

 

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ABOUT THE AUTHOR

Randall LaVeau

Leverages the SBI Benchmarking methodology to help companies make the number.

Randall has over 10 years of experience developing scalable sales and marketing programs that range from demand generation to website optimization and sales effectiveness. He has created, coordinated and executed lead generation plans, programs and campaigns for new customer acquisition and existing customer retention. Additionally, Randall developed and managed advanced integrated marketing plans, translating innovative concepts into actionable strategy to enhance brand and product positioning and drive revenue. Randall’s skills include marketing strategy, lead generation, persona development, inside sales team development, sales coaching and sales enablement.

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