Chief Outsiders’ Post

How marketing leaders can transform marketing from a support function to a growth driver! The decline of marketing as an influential business function is well documented. Among C-suite roles, chief marketing officers (CMOs) are the least likely to advance to the CEO spot and the most likely to be dismissed. This unsettling trend is supported by the Fall 2023 CMO Survey, where most CMOs reported limited involvement in executive-level decisions. They are not regular attendees at board meetings, and even fewer participate in earnings calls. While many external factors contribute to this decline in influence, much of it may be self-inflicted. At the B2B Marcom Summit in Washington, D.C., earlier this year, I attended a keynote address by Rick Rudman, CEO of Curbio. His tone was friendly, but his message was unmistakably candid. Rudman urged marketing leaders to go beyond traditional metrics and demand generation. He emphasized the importance of stepping into a role that aligns with the organization’s growth and profitability objectives. In his words, marketing leaders must evolve into strategic contributors whose insights drive core business results. He shared that such marketing leaders are rare and invaluable, as those who prove their worth by taking on a broader vision for the business are retained and even groomed for CEO roles. Marketing should be positioned as a strategic driver of growth and long-term value. How do you make that happen? #marketing #cmo #strategicalignment https://lnkd.in/ddHkGPBh

🤔 The Revenue-Centric CMO: Aligning Marketing with Business Objectives 🌟 As the digital landscape evolves, the role of marketing leaders becomes increasingly pivotal in driving revenue growth. But are traditional marketing strategies truly aligned with the core objectives of the business? 🔍 Imagine a world where marketing isn't just about brand promotion, but a strategic tool for revenue generation. The article sheds light on the concept of a revenue-centric CMO and how this shift in mindset can revolutionize the impact of marketing efforts. 🚀 From data-driven decision-making to customer-focused strategies, the discussion delves into the essence of aligning marketing initiatives with tangible business outcomes. It challenges us to rethink the traditional marketing playbook and embrace a more results-driven approach. 💡 What if the success of marketing campaigns was no longer measured by likes and shares, but by direct contributions to the bottom line? This paradigm shift in the realm of marketing leadership opens up a realm of possibilities and sparks a dialogue on the true purpose of marketing in today's business landscape. 🌐 Let's spark a conversation. How can CMOs lead the charge in aligning marketing with business objectives effectively? Share your thoughts and let's explore the transformative power of a revenue-centric approach. #MarketingStrategy #RevenueGeneration #BusinessObjectives #CMOInsights https://lnkd.in/gxPU8Wqq

CEOs who place marketing at the core of their growth strategies are twice as likely as their peers to have >5% annual growth. Yet fewer than 40% of Fortune 500 companies have a CMO! Why the disconnect? This conversation brings up some really interesting points about the ROI of marketing and how to measure it.

Here is a summary of an interesting article about the CEO-CMO relationship alignment: - McKinsey conducted a study on the relationship between CEOs and CMOs. They found that many CEOs underestimate the importance of marketing. - There is a disconnect between CEOs and CMOs on the role that marketing should play in the company. - The traditional marketing role has been fragmented across multiple positions in many companies. - CMOs need to become “data-curious” and figure out how to use data to measure the impact of marketing activities. - Less than 40% of Fortune 500 companies have a CMO at the C-suite table. - CMOs need to be seen as growth unifiers who can remove friction for customers. - Marketing has fundamentally changed due to the rise of digital technologies. Companies can no longer rely on traditional marketing tactics. - CMOs need to educate CEOs about the new realities of marketing and how to measure its success. Link to the complete article: https://lnkd.in/gBZA5WS6

“… marketing leaders must evolve into strategic contributors whose insights drive core business results.” “… marketing needs to reframe its purpose within the organization. Marketing should not be a support function measured solely by campaign metrics. Instead, it should be positioned as a strategic driver of growth and long-term value. The more CMOs align their objectives with financial goals, the more they amplify their impact and build credibility at the executive table, where critical decisions are made. For marketing leaders, this means demonstrating how their strategies contribute to broader business outcomes — whether through increasing customer lifetime value, enhancing market share or accelerating revenue growth.” I’ll leave these two quotes and avoid further editorial. I have strong views that support these statements. Glad to engage 1 on 1 with proof points (on why) and solutions (that drive business success). https://lnkd.in/eRxyTUu4

Quick read on the causes and impacts of teams leveraging marketing as executors of strategy versus partners in shaping strategy. “CEOs who place marketing at the core of their growth strategies are 2x as likely as their peers to have greater than 5% annual growth […] The CEO has less of a marketing pedigree than ever before. It’s estimated that only 10% of Fortune 250 CEOs have marketing experience.”

Many CEOs struggle with marketing due to a lack of experience, with only 13% of Fortune 500 leaders having a marketing background. This gap can hinder effective team building and growth. A strong CEO-CMO partnership is vital for success. By utilising resources like Fractional CMO services, CEOs can enhance their marketing strategies. Want to learn more? Access the full article for deeper insights. https://lnkd.in/gnsqPkMj #B2BMarketing #DataAnalytics #LeadGeneration #MarketingStrategy #BusinessGrowth #FlipsideGroup

We're certainly biased but I think the best growth is through the lens of marketing. The companies that are leaning on marketing for growth are 2X more likely to have greater than 5 percent annual growth. Still, it' a challenge. Only 10% of Fortune 250 CEOs have marketing experience. The CEO / CMO relationship needs to deal with these issues: 1. The ability to define the role of marketing within a CEO's strategy. 2. Understanding the levers of modern marketing capabilities. 3. Measure impact: Linking marketing activities to business outcomes. Our favourite passage: "I view the CMO as the chief customer advocate, because that person’s role is to go across the company to advocate, to make it easier for the customer to do business with the company." This is a great read (or listen).

I'm certainly biased but I think the best growth is through the lens of marketing. The companies that are leaning on marketing for growth are 2X more likely to have greater than 5 percent annual growth. Still, it' a challenge. Only 10% of Fortune 250 CEOs have marketing experience. The CEO / CMO relationship needs to deal with these issues: 1. The ability to define the role of marketing within a CEO's strategy. 2. Understanding the levers of modern marketing capabilities. 3. Measure impact: Linking marketing activities to business outcomes. This is my favourite passage: "I view the CMO as the chief customer advocate, because that person’s role is to go across the company to advocate, to make it easier for the customer to do business with the company." This is a great read (or listen).

"CEOs who place marketing at the core of their growth strategy are twice as likely as their peers to have greater than 5% annual growth", according to a recent McKinsey & Company survey. At The Point Consultancy, we have spent the last few months chatting with CEOs, CMOs, and founders across a range of businesses to understand their growth challenges better. What did we find? In many cases, CEOs and Founders are reluctant to put marketing at the heart of their strategy. Why? Many reasons. The lack of understanding, talent gaps or inability to track ROI. It's often the case of being once bitten, twice shy, after a few too many bad experiences. The result? Marketing teams become executors rather than drivers of new ideas and strategies. And low and behold, "marketing" is deemed ineffective, and the cycle repeats itself. https://lnkd.in/gN54-WGX #marketing #marketingstrategy #contentstrategy #growthmarketing #thepointconsult