March 24, 2015

What will the future Chief Marketing Officer look like?

March 24, 2015

What will the future Chief Marketing Officer look like?

Stump the Strategist

Watch below as we answer:

Q: What will the Chief Marketing Officer (CMO) of the future look like? And what qualities will make them great?

  • Featured strategists are: 

    Ashton Bishop - Head of Strategy, Step Change Marketing

    Jeff Cooper - Senior Partner, Step Change Marketing

    Tiffany Jones - Founder and CEO, Momentum Advisory Group

  • About Stump The Strategist:

    • Questions from the floor, answered live in nine minutes
    • It's opinion, not advice
    • Step Change charges clients for advice, Stump The Strategist is free

A:

  • Look at what's happening in the industry now. Fragmentation of media – more channels than ever before, and more technology, markets, and globalisation. They will need to be a good marketer, strategic thinker, and leader

  • Rather than CMO of just one country, it's likely they will be the CMO across all markets

  • The best CMO will be able to link strategy, marketing, and innovation. Apple wasn't the best at any one of these, but they were the best at bringing them all together

  • Any leading CMO needs to be a “chief change officer”. They need to see the trends coming. How far ahead are they looking, and where are they getting information from? 

  • Marketing and advertising used to go hand-in-hand, but advertising is now just a small section of marketing. In fact, it's generating a diminishing return. The best companies spend 38% of their marketing budget on retention and cross-selling, compared to the average of 5-8%

  • The best CMOs should be able to orchestrate conflict so that they are challenged and always consider the worst case scenario

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