The role of the CMO has expanded in recent years. CMOs now deal with more digital, social, personalization, and AI technologies. They also work closely with CTOs and are more involved in organizational technology and operational delivery.
Companies sometimes eliminate the CMO role, thinking marketing isn’t driving growth as expected. However, they often lose their edge on analytics and data that capture customer insights when they do this. They also lose the brand-building element.
The CMO should think about the business first and marketing second. They should operate at a peer level in the C-suite. A strong marketing organization supports them.
Talent attraction and retention are significant challenges for CMOs.
CMO responsibilities expanding with technology
Finding the right skills for their teams is crucial.
Companies often reinstate the CMO role after eliminating it. They realize they need the CMO for focused marketing efforts. Specific cases, like Starbucks’s reintroduction of the role, show the importance of having a CMO.
CEOs might focus internally and not consider external trends when eliminating the CMO role. If a CMO isn’t performing well, companies might conclude that the role is unnecessary rather than seeking better performance from another individual. CMOs should speak the language of business to ensure their role remains crucial.
They should emphasize data, analytics, and trends that resonate with the executive leadership team. The CMO role is likely to remain fluid and continuously evolving, and organizations will continue to experiment with how they title and define it.
However, the necessity of having marketing leadership at the executive level will persist because of its intrinsic importance to business growth.
