Why CMOs Don't Last: How to Create a Successful CMO Role

In a revealing Harvard Business Review article, the challenges plaguing Chief Marketing Officers (CMOs) come to light. The article highlights the disconnect between CEOs' expectations and CMOs' actual roles, with a staggering 80% of CEOs expressing dissatisfaction with their CMOs. This incongruence results in CMOs having the shortest tenure in the C-suite, averaging just 4.1 years. In this blog post, we delve into the reasons behind this high turnover and explore how to create a CMO role that works.

Step 1: Define the Role

The first step in solving the CMO conundrum is defining the role. Unlike other C-suite positions, there's no universally accepted definition of what a CMO does. Responsibilities vary wildly from company to company. To tackle this, CEOs must determine what kind of CMO their firm needs, whether it's strategy-focused, commercialization-driven, or an enterprise-wide role. This decision hinges on factors such as the need for consumer insights, growth challenges, and marketplace dynamics.

Step 2: Match Responsibilities to the Job's Scope

Once the type of CMO is chosen, align responsibilities accordingly. Core responsibilities like marketing strategy, brand management, and customer metrics are common. However, the specifics should match the role's nature. Strategy-focused CMOs should focus on innovation, commercialization-driven CMOs on marketing communications, and enterprise-wide CMOs on a broader range of functions, including sales and distribution.

Step 3: Align Metrics with Expectations

Successful CMOs need clear metrics aligned with their role's expectations. In a commercialization role, metrics revolve around budget, project outcomes, and marketing program results. Strategy-focused CMOs are measured on revenue growth and sales, in addition to budgets and management outcomes. Enterprise-wide CMOs are accountable for top- and bottom-line results, among other things. This alignment ensures clarity and accountability.

Step 4: Find Candidates with the Right Fit

Selecting the right CMO is crucial. Their training and experience should align with the role. However, there's often a gap between the requirements and the responsibilities outlined in job descriptions. To improve outcomes, CEOs must answer essential questions, determine the type of CMO needed, and ensure candidates understand the role's expectations. Transparency is key.

CMOs don't last primarily due to poor role design and a lack of alignment between expectations and responsibilities. By defining the role, matching responsibilities, aligning metrics, and selecting suitable candidates, CEOs can end the revolving door of CMO turnover. A well-structured CMO role contributes significantly to a company's success. However, another solution worth considering is the utilization of a Fractional Chief Marketing Officer (Fractional CMO). These experts bring their wealth of experience to your organization, providing strategic guidance without the commitment of a full-time role. They offer flexibility, cost-effectiveness, and a fresh perspective, making them a valuable addition to your marketing team. So, for organizations seeking to maximize the impact of their marketing leadership, it's time to rethink and redesign the CMO position or explore the advantages of engaging a Fractional CMO.