The role of Chief Marketing Officer, CMO, in mid-size businesses is undergoing a significant transformation. Historically, CMO roles have primarily focused on branding and communication. However, over the past decade, their responsibilities have evolved dramatically, with a heightened emphasis on demand generation and a broader portfolio that includes customer experience, data governance, marketing technology, go-to-market strategy, partnerships, and ecosystems. In this blog post, we delve into the changing expectations of CMOs, exploring their unique role compared to other C-suite executives and offering insights into how they can navigate this evolving landscape.
The Historical Focus: Branding vs. Demand Generation In the annals of business history, the role of the CMO has undergone a notable evolution. Traditionally, CMOs were predominantly tasked with shaping and amplifying the brand’s message, ensuring consistency and resonance across various touchpoints. As noted by McKinsey, “CMOs were the custodians of the brand, entrusted with safeguarding its integrity and projecting its values to the world.” However, the increasing of digitization and the proliferation of data-driven marketing strategies have catalyzed a paradigm shift in the CMO’s mandate. Deloitte highlights this shift, stating that “over the past 10 to 15 years, the bias has shifted towards demand generation, with CMOs increasingly accountable for driving tangible business outcomes such as leads, conversions, and revenue.”
“over the past 10 to 15 years, the bias has shifted towards demand generation, with CMOs increasingly accountable for driving tangible business outcomes such as leads, conversions, and revenue.” Deloitte
The Broadening Portfolio: Beyond Marketing and Communication One of the most striking aspects of the modern CMO role is the breadth and depth of their responsibilities. Unlike their counterparts in finance or operations, who often have a relatively narrow focus, CMOs are tasked with overseeing a multifaceted portfolio that encompasses diverse areas such as customer experience, data governance, marketing technology, go-to-market strategy, partnerships, and ecosystems.
EY’s research underscores this complexity, noting that “CMOs are increasingly juggling multiple hats, from being the architect of seamless customer experiences to the steward of data privacy and governance, all while driving innovation and growth.” This expanded remit reflects the interconnectedness of modern marketing and its pivotal role in driving business outcomes.
Unique Role Among C-Suite Executives While all C-suite executives share a common goal of driving business success, the role of the CMO stands out for its distinctive focus and challenges. Unlike CFOs, who are primarily concerned with financial stewardship, or COOs, who oversee operational efficiency, CMOs operate at the intersection of creativity, technology, and strategy.
As highlighted by Forbes, “CMOs are frequently the shortest-handed members of the C-suite, facing mounting pressure to deliver results amidst rapidly evolving consumer expectations and competitive landscapes.” This underscores the unique demands placed on CMOs, who must navigate a complex array of responsibilities while driving growth and innovation.
Conclusion: Embracing the Future In conclusion, the evolving expectations of Chief Marketing Officers in mid-size businesses reflect the dynamic nature of the modern business landscape. From their historical focus on branding to the contemporary emphasis on demand generation and beyond, CMOs play a pivotal role in driving growth, revenue, and customer retention.
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