The trouble with CMOs!!

A chief marketing officer (CMO) is a corporate executive responsible for marketing activities in an organization. This is a very challenging position and since last few years, especially CMOs of the companies are under tremendous pressure as the position has become riskier than ever.
  • Something is going very wrong in the relationship between CEOs and CMOs. As per the global survey by the Fournaise Marketing Group, the results reveal that 80% of CEOs don’t trust or are unimpressed with their CMOs.
  • This is the very reason that CMOs have the highest turnover. A study says that almost 57% of them have been in their position for three years or less.
  • Unlike CFOs and CIOs, whose roles are primarily inward facing, CMOs have a direct effect on the way customers engage with the firm. Therefore, they are often responsible for changing the strategic direction.
  • Companies can experience internal disruptions, including major recruiting and severance costs due to this issue.
  • The CEOs should carefully design job and responsibilities of the CMO and must consider factors like role, an organizational structure so it could be designed correctly.
Source: https://hbr.org/2017/07/the-trouble-with-cmos
Bit: http://bit.do/dBqxg

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