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The CMO's Agenda
Executive Summary of Findings
J. Mark Carr and Erin Hyatt
Additional analysis and findings is available in the full version of The CMO Agenda. To obtain a copy of this report, please click here
What is the “right” role of the chief marketing officer (CMO) and by extension, marketing, within an organization? Should marketing have a seat at the executive table? Should the CMO lead or follow in the pursuit of strategic initiatives? Do the answers to these questions vary depending on industry, company size and type, etc.? How has marketing changed over the last 10 years? And what will the next 10 years bring?
In talking with more than 30 CMOs and lead marketers from mid-sized organizations to Fortune 500 companies across a variety of industries, we found commonalities in practice and differing perspectives on the role marketing can and should play within the organization. Some of the most innovative and cutting edge marketers we spoke with articulated the lead marketing position as a transformative role, working as both a team member and an agent of change within the c-suite.
Marketers openly spoke about their current priorities and critical challenges, and provided candid commentary on how they were approaching each. One of the most thought provoking aspects of our research was a discussion on the evolution of marketing. By capturing thoughts on the swinging pendulum between the art and science of marketing we were able to portray an interesting view on past and future practices.
Our research summary provides what we hope is a short but provocative look into the day-to-day world of today’s lead marketers. We also summarize and combine the research learnings with our experience in a list of thoughts and ideas intended to spark discussion and action.
Topline Findings
- Not surprisingly, the marketers interviewed almost universally believed marketing should have a seat at the executive table. However, only some did. Those who were empowered “marketing champions” shared some characteristics such as reporting to the CEO, a solid relationship with the CFO and a belief they should focus on top line growth.
- Some of the most innovative and cutting edge marketers we spoke with articulated the lead marketing position as a transformative role within the organization, working as both a team member and an agent of change within the c-suite.
- Although the priorities for the year were predictably varied depending on industry and company size, common themes emerged, including: marketing measurement, customer insight, brand strategy, and the continued need for innovation & new products.
- Despite the dismal news backdrop, the economic crisis was not a focal point of our conversations. When speaking about the year ahead, most marketers mentioned the need for marketing to remain agile and responsive to new threats, the changing face of competition and/or changing consumer behavior, rather than cost cutting.
- We asked marketers to reflect on the changes in marketing as a function over the last decade. If marketing is both an art and science, then clearly the pendulum has shifted towards the science thanks in part to advances in technology and data analytics.
- Perhaps one of the most thought provoking questions asked of leading marketers was how they envisioned marketing evolving in the coming decade. Almost everyone we spoke with predicted the pace of change would only increase, including a further power shift to consumer, requiring better segmentation and emphasis on needs-based products and services.
Contents of Full Report
3 Introduction
4 Marketing’s Role
The Role of Marketing in the Organization
Chief Transformational Officer
Marketing Priorities
Critical Challenges in the Year Ahead
7 Critical Marketing Topics
Marketing Effectiveness
Budgeting & Planning
Achieving Growth
Increasing Success of New Products
10 Reflections of the Evolution of Marketing
Marketing; the last decade
Marketing; the next decade
12 Sparking Ideas, Discussion and Action
Methodology
The research was conducted primarily through telephone conversations and a handful of face-to-face interviews. A discussion guide was used to guide the discussion through critical business challenges, the role of marketing within the organizations, critical challenges, as well as the evolution of marketing among other topics.
Mark Carr, a partner within CMG Partners, conceived of and led the CMO research effort supported by senior associate and experienced researcher, Erin Hyatt.
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