Last week I blogged about a Fournaise study that found that 73% of all CEOs believe marketers lack credibility because they cannot quantify the value of their marketing efforts.
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So the next logical blog post would be to share and comment on an article from MarketingWeek that outlines what CEOs expect from their CMOs. If you can meet all of these expectations, then your CEO is probably in the 27% minority in the Fournaise study.
How many of these expectations are you fulfilling?
1. A focused financial steward
- Do you manage your budget, maximise every dollar spent and measure ROI to the best of your ability and resources?
2. A consistent innovator
- Do you constantly look for new and different ways to communicate and strengthen the corporate brand, drive revenue or reach new audiences?
3. A customer whisperer
- Do you know who your customers are and what they want? Do you know what the customer of your customer wants?
4. A dedicated brand steward
- Are you the protector of the brand (internally and externally)? What steps do you take to ensure that the entire organization is protective of the brand as well as an advocate of the brand?
5. A social media maven
- Every business is trying to get on this bandwagon and you should be leading the way. How much do you know about social media, and can you communicate the value to your business?
6. A business strategist
- Do you spend all of your time on marketing campaigns or do you get involved with, and understand the needs of other departments? That broader understanding will not only get you a seat at the executive table, but also help improve your marketing efforts.
7. A capable Crisis Communications Manager
- How prepared are you for the unexpected? Do you have a plan in place? If so, do you share and practice that crisis management plan just as you would a fire drill? When a crisis occurs, you're going to be expected to take the lead on protecting the corporate reputation.
8. A data analyst
- What data do you have access to that will help sell your marketing story internally? If you don't have any analytics, you need to demand them, otherwise, you will always be fighting an uphill battle.
9. A customer advocate
- Too often when budgets are tight, or revenues slip, the easy solution is to sacrifice the needs of the customer to impact the bottom line. How often do you fight to protect the people who are paying your bills? The customer needs a voice. Why not make it yours?
10.A motivator-in-chief
- How much do you work to motivate your entire organization, not just the marketing team? Do you work with HR on motivational initiatives? Your customers are not just those on the other side of the cash register. What efforts do you make to build loyalty with your internal customers?
This is a pretty big list! How do you stack up? Are you successfully delivering on these 10 demands? I readily admit that there are some areas where I am stronger than others. However, there is nothing on this list that every marketer shouldn't already expect of him/herself.
The key to success as a CMO is ensuring that you have an open dialogue with your CEO and that expectations are clear. While I question whether many CEOs truly appreciate the value of marketing, the best way to solve that problem is to be proactive. Make yourself heard by understanding your business and offering constructive solutions to problems. Afterall, isn't that what marketers are supposed to do best?
So the next logical blog post would be to share and comment on an article from MarketingWeek that outlines what CEOs expect from their CMOs. If you can meet all of these expectations, then your CEO is probably in the 27% minority in the Fournaise study.
How many of these expectations are you fulfilling?
1. A focused financial steward
- Do you manage your budget, maximise every dollar spent and measure ROI to the best of your ability and resources?
2. A consistent innovator
- Do you constantly look for new and different ways to communicate and strengthen the corporate brand, drive revenue or reach new audiences?
3. A customer whisperer
- Do you know who your customers are and what they want? Do you know what the customer of your customer wants?
4. A dedicated brand steward
- Are you the protector of the brand (internally and externally)? What steps do you take to ensure that the entire organization is protective of the brand as well as an advocate of the brand?
5. A social media maven
- Every business is trying to get on this bandwagon and you should be leading the way. How much do you know about social media, and can you communicate the value to your business?
6. A business strategist
- Do you spend all of your time on marketing campaigns or do you get involved with, and understand the needs of other departments? That broader understanding will not only get you a seat at the executive table, but also help improve your marketing efforts.
7. A capable Crisis Communications Manager
- How prepared are you for the unexpected? Do you have a plan in place? If so, do you share and practice that crisis management plan just as you would a fire drill? When a crisis occurs, you're going to be expected to take the lead on protecting the corporate reputation.
8. A data analyst
- What data do you have access to that will help sell your marketing story internally? If you don't have any analytics, you need to demand them, otherwise, you will always be fighting an uphill battle.
9. A customer advocate
- Too often when budgets are tight, or revenues slip, the easy solution is to sacrifice the needs of the customer to impact the bottom line. How often do you fight to protect the people who are paying your bills? The customer needs a voice. Why not make it yours?
10.A motivator-in-chief
- How much do you work to motivate your entire organization, not just the marketing team? Do you work with HR on motivational initiatives? Your customers are not just those on the other side of the cash register. What efforts do you make to build loyalty with your internal customers?
This is a pretty big list! How do you stack up? Are you successfully delivering on these 10 demands? I readily admit that there are some areas where I am stronger than others. However, there is nothing on this list that every marketer shouldn't already expect of him/herself.
The key to success as a CMO is ensuring that you have an open dialogue with your CEO and that expectations are clear. While I question whether many CEOs truly appreciate the value of marketing, the best way to solve that problem is to be proactive. Make yourself heard by understanding your business and offering constructive solutions to problems. Afterall, isn't that what marketers are supposed to do best?
