Thursday, June 14, 2007

Average CMO Tenure Increases Slightly
For the First Time Since 2004

Spencer Stuart Study Also Shows Vacancies Still Exist

The tenure for the CMO at the top 100 leading consumer companies today is 26.8 months, according to a study by executive recruiter Spencer Stuart. The study finds that the CMO tenure has increased for the first time since 2004, when the average tenure for the position was 23.6 months.

"The initial reaction to this year's tenure study is that a number of CMOs appear to be staying in their jobs longer, yet there are twice as many vacancies in the top marketing role as there were last year," said Greg Welch, leader of the Spencer Stuart Marketing Officer Practice.

While CMOs seem to be staying at their jobs a little longer, the study found that 16% of companies either have a CMO position that is vacant or don’t currently have the position in their organization. In addition, the study concluded that only 14% of CMOs for the world’s top 100 brands have been with their companies for more than three years and nearly half are new to the job over the last 12 months. In contrast, CEOs are in their positions, on average, for 53.8 months.

"Understanding that most CMOs are sort of under a microscope due to the high turnover of the position, one of the original missions of The CMO Club is in part to make all participants better CMOs,” explained Pete Krainik, Founder of The CMO Club. According to Spencer Stuart, in order to flourish in the marketplace CMOs must possess the following 10 characteristics and skills:

· Customer Orientation
· Global Perspective
· Influence and Impact
· Hands on Leadership
· Creates and Manages Change
· Results Focused
· Risk Taking
· Strategic Thinker
· Team Player
· Technical Expertise

Krainik added that a successful CMO needs to “overcome the fact that in most companies the marketing group is not close enough to the product/service, nor close enough to the customer. They are stuck in the middle and rely on product management or sales for insight. How many CMOs and their organizations have actually seen their customers interact with their product or service?"

1 comment:

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