A new study out by Spencer Stuart shows an insane number of chief marketing officers who’ve been fired during 2018.
But frankly, it’s not a surprise. I served as CMO for Deloitte Consulting and then Starwood Hotels & Resorts, and when I have coached executive teams through transformations, I’ve seen many teams at an impasse with their CMO.
There are lessons we can learn by exploring why so many CMOs get fired—and they can be useful to any executive working to navigate the radically interdependent world of business today.
Although the role of a CMO has been evolving and expanding, people on executive teams still seem to think the CMO must have expertise in every element of her role. In most cases that is a prescription for failure. Success comes, rather, by embracing a role as the facilitator of growth for the business and the four most important levers of that growth:
Brand: This is the traditional role of the CMO: the architect of the brand strategy and the one who establishes the brand’s position within the marketplace and relative to the competition. The CMO is the curator of the creative. She lays out the road map: where the brand has been, where it is going, and how it is going to move in that direction.
Source: Harvard Business Review