The Trouble with CMOs
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Publication Date:
July 01, 2017
The top marketing job in the company is a minefield where many talented executives fail. In this issue we examine what makes the position so risky–and how firms can set CMOs up for success. In “Why CMOs Never Last,” marketing professors Kimberly A. Whitler and Neil Morgan argue that something is deeply amiss between chief executives and their chief marketing officers. Eighty percent of CEOs don’t trust or are unimpressed by their CMOs. Not surprisingly, CMOs have the briefest tenure in the C-suite. This churn can lead to serious internal disruptions. What can be done to end the problem? After doing extensive research, the authors believe that the main cause is faulty role design. To rectify the situation, companies need to understand the three main kinds of CMO roles and then tailor the CMO’s duties and success metrics accordingly. Next, “The Power Partnership” explains how digital technology has blurred the line between the CMO’s job and the CIO’s. These executives now need to collaborate on an unprecedented level. Giving them shared performance goals is a must. In “Reflections of a Six-Time CMO,” Joe Tripodi, who has served as top marketing officer of Mastercard, Seagram’s, the Bank of New York, Allstate, Coca-Cola, and Subway, shares his thoughts on how the job has changed since the 1980s and the keys to making it as CMO. In “A Recruiter’s Prescription,” Greg Welch, who has placed nearly 500 CMOs in his role as an executive recruiter for Spencer Stuart, shares his frustration over how many smart executives fail in this position. In his view, the hiring process too often turns into a popularity contest that favors charismatic candidates. Instead, everyone should focus on real job specifications and setting achievable expectations. Finally, “The Evolution of the CMO” takes a decade-by-decade look at how the growth of new marketing tools, channels, and challenges has expanded and reshaped the CMO’s responsibilities.
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The Trouble with CMOs
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