The CMO is the new CEO?
There is plenty of industry buzz surrounding the rising, falling and evolution of the CMO. He's the new corporate wizard, sitting at the strategy table, creating return on investment metrics and a one-on-one relationship with every customer. And in this consumer-controlled marketplace, it's his insight that will drive every department of the organization. So, really isn't the CMO the new CEO?
In days gone by, a CEO was well-equipped if he had solid operational and financial skills. Truth be told, marketing is what makes or breaks a company in today's marketplace. "America is no longer a country of manufacturers." Instead we brand everything (see what William Gibson says about this). And a CEO has to adopt a marketing philosophy to determine if his brand resonates with consumers. He needs to understand his customers' behavior and govern every action - from new product development to sales to customer service to in-store merchandising - with a focused understanding of their needs.
In days gone by, a CEO was well-equipped if he had solid operational and financial skills. Truth be told, marketing is what makes or breaks a company in today's marketplace. "America is no longer a country of manufacturers." Instead we brand everything (see what William Gibson says about this). And a CEO has to adopt a marketing philosophy to determine if his brand resonates with consumers. He needs to understand his customers' behavior and govern every action - from new product development to sales to customer service to in-store merchandising - with a focused understanding of their needs.
We are on a fast track to that reality. CEOs are being hired from the marketing ranks. Jeffrey Bewkes recently became the CEO of the world's largest media company, Time Warner Inc., precisely because of his strong history of managing creative talent. Bewkes had earlier been CEO of HBO after a successful run as the head of marketing and sales at that division.
At the same time, CMOs are beginning to sound like CEOs. Case in point: Randy Tinseth is the Vice President of Marketing for Boeing, and he maintains a blog on the company's website. It is consistently filled with critical business analysis and his latest depiction of the company's third quarter reads like a CEO on an investor conference call. His world of marketing revolves around how many orders he can help the company process for new airplanes. It's a point he makes often on the blog - without sales, there is no marketing and vice versa.
To be clear, I'm advocating that CEOs elevate the status of the CMO. You're not a company: you're a brand. And the keeper of that brand is the CMO. Placing the CMO on your executive board ensures that your organization understands the game has changed. It's a signal that you know customers are savvy and you're showing them respect by placing their advocate in your inner sanctum. In fact, it's downright American because we're in the business of branding.
At the same time, CMOs are beginning to sound like CEOs. Case in point: Randy Tinseth is the Vice President of Marketing for Boeing, and he maintains a blog on the company's website. It is consistently filled with critical business analysis and his latest depiction of the company's third quarter reads like a CEO on an investor conference call. His world of marketing revolves around how many orders he can help the company process for new airplanes. It's a point he makes often on the blog - without sales, there is no marketing and vice versa.
To be clear, I'm advocating that CEOs elevate the status of the CMO. You're not a company: you're a brand. And the keeper of that brand is the CMO. Placing the CMO on your executive board ensures that your organization understands the game has changed. It's a signal that you know customers are savvy and you're showing them respect by placing their advocate in your inner sanctum. In fact, it's downright American because we're in the business of branding.
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