The role of the Chief Marketing Officer (CMO) is evolving. CMOs are taking on new responsibilities and redefining their impact within organizations. Felicity Carson, CMO at onsemi, led a transformation of the marketing team.
She focused on creating a strong brand identity and generating demand for business growth. Modern CMOs navigate customer and digital experiences. This is different from the traditional focus on brand management.
CMOs are expanding their expertise beyond core marketing functions. They address organizational objectives like digital experience strategy and customer experience. CMO insights are valuable to boards of directors.
They offer a deeper understanding of marketing, growth strategies, and business contributions. B2B CMOs are looking to B2C strategies for inspiration. B2C companies have led the way in digital personalization and customer journey orchestration.
B2B CMOs face the challenge of aligning multiple stakeholders in the buying process. However, they are responsible for driving demand and upholding the brand’s reputation, just like B2C CMOs. With the rise of AI and new technologies, the CMO role is set to expand further.
This is just the beginning of the transformation we will see in the next decade.
Evolving CMO roles and responsibilities
Some companies have eliminated CMO positions, only to bring them back later.
This trend raises questions about the value and necessity of the role. MaryLee Sachs, U.S. CEO of Brandpie, suggests that companies losing the CMO position might be losing their edge on analytics and customer insights. She emphasizes the importance of CMOs speaking the language of business and focusing on results, data, and trends.
The CMO role remains one of the least well-defined C-suite positions. Its evolution continues, and it’s uncertain if companies will keep splitting the role or solidify it. Forrester Research found that 63% of Fortune 500 companies have a CMO or senior marketing executive reporting to the CEO.
The average CMO tenure is 4.1 years. However, the experiences of CMOs depend on their industry, business model, and gender. Representation and tenure vary significantly across these factors.
Gender disparities exist in the CMO role. Although 53% of Fortune 500 CMOs are women, their average tenure is shorter than their male counterparts. Maintaining good relationships with the CEO and CFO contributes to a long CMO tenure.
Alternative titles for heads of marketing also exist. Forrester’s analysts conclude with advice for CMOs aiming for long-term success. They emphasize the importance of strategic relationships within the organization.
