In the CMO 3.0 Playbook, Part 1, I discussed how CMO’s should have a concrete game plan for the first 100 days, and the key competencies and areas of focus that are essential for leading high-performance marketing organizations. In part 2, I will share more advice on constructing a modern CMO playbook.
Last fall, I was fortunate to be part of the CMO Club’s Peer Advisory Board brought together to discuss how CMOs can maximize the impact they have across the lifespan of their role. We outlined four broad CMO playbook areas of impact: the role of marketing, cutting about the noise, building an impactful team and driving results and accountability. While all four of these are important, I would argue that the last two, building and retaining a strong team, and delivering measurable results, are even more important in the post-COVID era.
Some of our insights were shared in a Forbes article entitled How Can Marketing Leaders Maximize Their Impact Now And In The Future? by David Benjamin and David Komlos. The authors talked about the importance of having a very strong network of peers to help CMO navigate dynamic markets, especially during turbulent times. According to Gabriel Cohen, CMO of Monigle: “…relationships with other CMOs enable you to pick up the phone and call someone about something you might be struggling with, and to give back to them when they need your advice. That’s how you become better.” Ever since I first became a CMO, I’ve been part of strong peer groups that continue to inspire and support me in the unending quest to increase the value of the CMO and marketing.
The demands on the CMO are changing as a result of the pressing need to increase business impact. According to John Ellett, Senior Partner at Prophet, the ability to build a high performance team is more important than ever. He cites Jennifer Ross, VP and senior research director, CMO Strategies at Forrester: …”leaders must start with defining the capabilities needed to achieve the desired outcomes. That list isn’t short – augment customer insights, enhance brand relevance, generate demand, drive leads, improve conversions, create better customer experiences, launch new products, energize channel partners, enable sellers, optimize media spend, engage employees, open new markets and host successful events, all by developing stimulating content and leveraging the martech stack.” All of these competencies, and more, are required for a modern CMO to deliver more measurable impact.
Today, many CMO’s are even broadening their roles by taking on specific additional functions that do not traditionally report into the head of Marketing, such as Chief Customer Experience Officer, Chief Strategy Officer and Chief Product Officer. Whether a CMO seeks to expand their designated areas of responsibility, or not, I feel that almost all CMO’s should operate as Chief Growth Orchestrators. To drive growth, CMO’s need to have exceptional cross-functional collaboration skills, be great change agents and align and motivate other functions to achieve extraordinary outcomes and outsized returns. While It’s critical to have a playbook to win in the global economy, and the pressure to succeed is relentless, I truly believe there’s never been a better time to be in marketing and a CMO. Here’s to raising the game! #CMOPlaybook #CMOMentor #ChiefGrowthOrchestrator #CMO