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The Emerging Role of the CMO
Top executives know that in order to be successful they need good, smart marketing people. (notes from SMPS program in KC)
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SMPS – The Emerging Role of the CMO
Only 12 out of 6,000 SMPS members have this title. 800 have related titles.
Proctor & Gamble and the like began to realize that marketing needed a seat at the table.
• Brings in outside perspective.
• Enhances communication with marketplace.
• Works with staff to improve marketing skills of staff.
• Reports back to leadership.
• Communicates the culture of the firm that supports individual goals.
• Focuses on firm’s sustainability.
• Empowers staff to promote the firm.
Internal Marketing is as important as external marketing – it’s just different.
CMO turnover is incredible!
Traditional marketing methods are declining in effectiveness due to us becoming less responsive.
Marketing metrics are increasingly being tied to financial metrics.
We are turning the corner where top executives know that in order to be successful they need good, smart marketing people.
Today’s efforts will be focused on:
• Break through the clutter to connect with clients.
• Elevating the marketing function throughout organizations.
• Helps firms understand value of our clients.
Today’s Role – Key Duty
• Implementing marketing plan at least ½ the time
• In charge of the brand and image (the stories that people tell about the firm both inside and outside)
• Helps firm not be like everybody else (a lot of grays, burgundy, reds, some blue)
• Helps sell brand internally (help staff understand what their role is)
• Important to make investment internally
• Shares with board what others are doing with their website and other competition in for
• Help develop new markets
Ex: Walter P. Moore has started parking consulting because it fits
CMO serves as part of Senior Executive Management.
Responsible for developing sophisticated marketing metrics to gauge success. Takes time to figure out how to spend marketing dollars.
Key Differentiation for CMO:
• Need to be very smart and knowledgeable about their marketing budget.
• Attracting brightest talent.
(Outsourcing to India long term is not an effective solution)
• Understanding marketing technology such as CRM
• Makes everyone else look good
• Compatibility with CEO
• Personality match with Executive Board
(has action item at end of production meetings)
5-10% spent on marketing should equal 15-25% on growth of the firm for revenues and recruitment
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