Last week’s poll is now complete with the following results to the question, who has the most credibility with your CEO?
31% of you responded with the CFO, while over 24% said Head of Sales. Only 13.8% said you do (the CMO). I asked a number of CMOs in the club to respond to these results. A few observations:
1) There is a significant correlation between credibility and number of hours per week your CEO spends with a report. Many of you said your CEO speaks with your CFO daily, more often then any other executive.
2) The CFO many times speaks the same language as the CEO in regard to revenue, cost structures, P/L, etc. In addition many CEOs are spending more and more time with day to day business issues and results vs. more strategic initiatives.
3) No surprises on the credibility perception with the Head of Sales. However, I wonder if one year ago, before the downturn, if Sales had a higher credibility rating from CEOs?
If we as CMOs want to improve our credibility with our CEOs, we must take a larger role in driving the growth agenda for the company, add more value to demand generation and arming our sales team with the tools to close deals and ensure we drive the right balance of strategic and ROI based programs and results. I suggest you check out Patty Azzarello’s recent blog posts on this topic for some great insights into building credibility with your CEO.
This is a great question to ask again in the future to see our progress. Any other thoughts or recommendations based on these results?
Showing posts with label ceo. Show all posts
Showing posts with label ceo. Show all posts
Sunday, May 10, 2009
Wednesday, April 29, 2009
Pete Krainik shares latest CMO CLUB Weekly CMO Poll Question: What do you want to do next? Lots of CEO/GMs in Waiting
We just completed this weeks CMO poll question and over 50 CMOs weighed in on "What do you want to do next". The results:
1) 37% desire a CEO/GM position
2) 24% want a larger CMO position
3) 22% desire a CMO position in a new industry
4) 10% want to stay with their current position
5) 7% want to get into consulting.
61% CMOs responding desire a promotion to CEO/GM or larger CMO job. This is not surprising to me. As I host club dinners throughout the US I see the desire, passion, and most importantly, confidence in many CMOs for that next bigger opportunity.
Also only 10% want to stay in their current position. I grow tired of hearing industry statistics about the short tenure of CMOs and that they are losing their jobs more frequently than other CxOs. I'm seeing many CMOs leaving positions for bigger, better opportunities of their own accord, vs. being pushed out. If only 10% want to stay, then 90% desire something new in the not too distant future.
Finally, only 7% desire a move to consulting. Many of us consult on the side for extra cash or between gigs, but most of us appear to want a CMO or CEO position vs. consulting.
Any other suggestions or comments on these results?
1) 37% desire a CEO/GM position
2) 24% want a larger CMO position
3) 22% desire a CMO position in a new industry
4) 10% want to stay with their current position
5) 7% want to get into consulting.
61% CMOs responding desire a promotion to CEO/GM or larger CMO job. This is not surprising to me. As I host club dinners throughout the US I see the desire, passion, and most importantly, confidence in many CMOs for that next bigger opportunity.
Also only 10% want to stay in their current position. I grow tired of hearing industry statistics about the short tenure of CMOs and that they are losing their jobs more frequently than other CxOs. I'm seeing many CMOs leaving positions for bigger, better opportunities of their own accord, vs. being pushed out. If only 10% want to stay, then 90% desire something new in the not too distant future.
Finally, only 7% desire a move to consulting. Many of us consult on the side for extra cash or between gigs, but most of us appear to want a CMO or CEO position vs. consulting.
Any other suggestions or comments on these results?
Wednesday, March 18, 2009
Pete Krainik shares latest CMO CLUB Weekly Poll Result: Who do you go to for feedback prior to recommendations to your CEO?
This past week’s CMO poll question was not even close. Over 48% of the 50 CMOs polled stated they go to other C-Level Peers in their company for feedback prior to presenting to their CEO. On some levels this makes sense. Your group of peers knows the CEO, have best knowledge of all the other internal company factors, and you can pre-sell the idea by pulling them into the discussion.
Over 18% review with other CMOs prior to meeting with CEO. During a few recent CMO CLUB Dinners, a number of CMOs told me they first go to other CMOs for new ideas and to validate their thinking, then pull in C-Level Peers leveraging the fact they have reviewed with other CMOs to help gain alignment. In other words, other CMOs for ideation, internal C-Level peers for alignment and changes to ensure approval.
Both Agency’s and Direct Reports had 15.2% responses each. I think the changing landscape and focus on ROI, new approaches for engagement, and the importance of internal alignment ( for delivery, customer service improvements, and response to social media driven comments ) has shifted reliance on agencies for feedback prior to CEO presentations.
Over 18% review with other CMOs prior to meeting with CEO. During a few recent CMO CLUB Dinners, a number of CMOs told me they first go to other CMOs for new ideas and to validate their thinking, then pull in C-Level Peers leveraging the fact they have reviewed with other CMOs to help gain alignment. In other words, other CMOs for ideation, internal C-Level peers for alignment and changes to ensure approval.
Both Agency’s and Direct Reports had 15.2% responses each. I think the changing landscape and focus on ROI, new approaches for engagement, and the importance of internal alignment ( for delivery, customer service improvements, and response to social media driven comments ) has shifted reliance on agencies for feedback prior to CEO presentations.
Saturday, March 7, 2009
Pete Krainik shares Latest CMO CLUB Poll: As a CMO which area of Personal Coaching would be of most value to you? It Always Comes Back to your CEO
This past week I asked CMOs in the club to respond to this question. Here are the results:
1) Over 32% responded with “Building Credibility with my CEO”.
2) Almost 29% said “Career Coaching”.In thinking about this response I suggest a large part of career coaching is linked to building credibility with your CEO. Patty Azzarello spoke at our Summit last November in SF and her session was one of the highest rating sessions by CMOs in attendance. I am also pleased to note that Patty will be working with The CMO CLUB, starting in early April, as one of the CMO coaches in our upcoming “Members Only” Coaches Coach’s Section on the site”. She will be hosting a forum, weekly blog posts and monthly CMO call for CMOs interested in this topic. More to follow.
3) 21.4% noted “ROI/Financial Management”
With the shift to measureable results oriented marketing this is not a surprise. We actually had a great discussion at one of our Boston dinners with the help of Marketing NPV and actually dissected ROI and budgeting techniques for prioritizing limited marketing dollars. I would also suggest that personal coaching on ROI and Financial Management will build credibility with your CEO.
4) 10.7% responded with “Talent Development” as most valuable to them.
I asked a few CMOs their view on this response and they had some interesting comments. One CMO noted, “It is clearly a top priority for me but right now my lifeline to success is my CEO so I need to stay on top of this and do everything I can to build credibility with him”. Another CMO noted that if the question was rephrased to “Most valuable over next 2-3 years”, she would have Talent Development as her answer.
5) 7.1% selected Contract Negotiation as most valuable to them.
During more aggressive growth times I think this area would be of higher value.
In summary we care about building credibility with our CEOs. How much time per week are you spending thinking about this and do you have an actual plan in place to achieve?
1) Over 32% responded with “Building Credibility with my CEO”.
2) Almost 29% said “Career Coaching”.In thinking about this response I suggest a large part of career coaching is linked to building credibility with your CEO. Patty Azzarello spoke at our Summit last November in SF and her session was one of the highest rating sessions by CMOs in attendance. I am also pleased to note that Patty will be working with The CMO CLUB, starting in early April, as one of the CMO coaches in our upcoming “Members Only” Coaches Coach’s Section on the site”. She will be hosting a forum, weekly blog posts and monthly CMO call for CMOs interested in this topic. More to follow.
3) 21.4% noted “ROI/Financial Management”
With the shift to measureable results oriented marketing this is not a surprise. We actually had a great discussion at one of our Boston dinners with the help of Marketing NPV and actually dissected ROI and budgeting techniques for prioritizing limited marketing dollars. I would also suggest that personal coaching on ROI and Financial Management will build credibility with your CEO.
4) 10.7% responded with “Talent Development” as most valuable to them.
I asked a few CMOs their view on this response and they had some interesting comments. One CMO noted, “It is clearly a top priority for me but right now my lifeline to success is my CEO so I need to stay on top of this and do everything I can to build credibility with him”. Another CMO noted that if the question was rephrased to “Most valuable over next 2-3 years”, she would have Talent Development as her answer.
5) 7.1% selected Contract Negotiation as most valuable to them.
During more aggressive growth times I think this area would be of higher value.
In summary we care about building credibility with our CEOs. How much time per week are you spending thinking about this and do you have an actual plan in place to achieve?
Wednesday, February 18, 2009
Pete Krainik Shares Latest CMO CLUB Poll: Who is Driving Growth Agenda for your Company? CMO? Think Again.
Last weeks CMO CLUB poll question asked CMOs who was driving the growth strategy for their company. Of all CMOs that responded, only 21.4% stated they were driving the growth strategy. 28.6% stated their CEO drives the growth strategy and 25% stated Business Units drive the growth strategy. I was surprised by this number and assumed the number would be closer to 50% for CMOs when I developed the question.
In every CMO CLUB dinner I host, the conversation always includes a discussion on the role of the CMO, where they add value in their company, and how they differentiate themselves within the executive management team. Most CMOs feel they must be viewed as the “Go To” executive on the team for some critical strategic area of the business beyond corporate communications, demand generation expertise, branding, or sales enablement. What is that “Go To” area?
Many CMOs feel we must be THE EXPERT on our customers. No one in the business should know more about our customers (current and future) than the CMO. Anytime there is a question or request for insights on customers all eyes should look to the CMO.
Others feel they must be THE EXPERT in articulating the value prop for the company, products and services. Other CMOs feel they must be THE EXPERT in approaches for engaging customers.
A few weeks ago at our Atlanta CMO CLUB dinner, a definition of marketing (and the CMOs top priority) was shared that Marketing (and the CMO) are responsible for developing and driving the growth agenda for their company. I loved the discussion and have come to the conclusion that being the “GO TO” executive on customer insights, engagement, etc. are requirements for a seat at the table, but delivering on the growth agenda for your company is the key differentiator for the best CMOs in the industry. Think how you would answer this weeks poll question and then determine what you need to do to make sure the answer is CMO in the future.
In every CMO CLUB dinner I host, the conversation always includes a discussion on the role of the CMO, where they add value in their company, and how they differentiate themselves within the executive management team. Most CMOs feel they must be viewed as the “Go To” executive on the team for some critical strategic area of the business beyond corporate communications, demand generation expertise, branding, or sales enablement. What is that “Go To” area?
Many CMOs feel we must be THE EXPERT on our customers. No one in the business should know more about our customers (current and future) than the CMO. Anytime there is a question or request for insights on customers all eyes should look to the CMO.
Others feel they must be THE EXPERT in articulating the value prop for the company, products and services. Other CMOs feel they must be THE EXPERT in approaches for engaging customers.
A few weeks ago at our Atlanta CMO CLUB dinner, a definition of marketing (and the CMOs top priority) was shared that Marketing (and the CMO) are responsible for developing and driving the growth agenda for their company. I loved the discussion and have come to the conclusion that being the “GO TO” executive on customer insights, engagement, etc. are requirements for a seat at the table, but delivering on the growth agenda for your company is the key differentiator for the best CMOs in the industry. Think how you would answer this weeks poll question and then determine what you need to do to make sure the answer is CMO in the future.
Tuesday, September 2, 2008
A CMO Dilemma: Is Your CEO treating your position like an Agency?
A few weeks ago I was having a drink with Phil Clement, CMO at AON, the multi-billion dollar Risk Management Services Company, and we starting talking about the short tenure and issues of credibility for CMOs. Phil raised an interesting point, he noted, ”one of the problems I see, is the CMO in many companies, is treated like we treat agencies”.
Are you in this situation?
1) New agency review every 2 years. Has your company looked for a new head of marketing every two years?
2) When budget cuts are required, agency budgets get cut first. Is your budget the first to be approached for cuts?
3) Agencies are hired many times for a specific expertise, or “creative ideas” track record, and viewed as a “one trick pony” of expertise and value. Were you hired or promoted for a specific “expertise” or are you always asked by your CEO and other C Level peers for “creative” update?
4) Many times companies hold agencies accountable for delivery then review results in a “dog and pony show” format. Do you tend to rely on “show and tell” videos, print ads, and campaigns?
If so a few suggestions for moving to true “C” level respect and support:
1) If you continually demonstrate results and pull your peers and CEO into ongoing planning and results sessions around revenue, new business, customer engagement and satisfaction, and brand growth, you avoid the annual “Marketing dept. review session”. My experiences show, out of site, means out of mind, and results in an agency approach to your value. Agencies come in periodically and are not viewed as singularly focused on your business. Make sure you are in the conversation all the time and viewed as singularly focused on business success.
2) Make sure you blend your specific marketing “expertise” with demonstrated expertise in business leadership. This comes up in every CMO CLUB dinner yet we still tend to migrate quickly to marketing metrics, marketing vehicle leverage, or new social media for customer interaction. For example, be known by your peers and CEO as the “Branding Expert” AND person that brings products to marketing faster and more successfully than anyone in the company.
3) It’s all about the numbers. Demonstrate not only your ability to deliver revenue, profits, etc. but demonstrate how you leverage metrics to manage day to day progress and change quickly as needed to continue to move the dial. Get out from behind the “high flash” presentations to your peers and CEO and move to a business review format and approach.
These are just a few ideas to get the conversation started. What other advice would CMOs give to avoid getting caught up in the “treated like an agency” dilemma?
Are you in this situation?
1) New agency review every 2 years. Has your company looked for a new head of marketing every two years?
2) When budget cuts are required, agency budgets get cut first. Is your budget the first to be approached for cuts?
3) Agencies are hired many times for a specific expertise, or “creative ideas” track record, and viewed as a “one trick pony” of expertise and value. Were you hired or promoted for a specific “expertise” or are you always asked by your CEO and other C Level peers for “creative” update?
4) Many times companies hold agencies accountable for delivery then review results in a “dog and pony show” format. Do you tend to rely on “show and tell” videos, print ads, and campaigns?
If so a few suggestions for moving to true “C” level respect and support:
1) If you continually demonstrate results and pull your peers and CEO into ongoing planning and results sessions around revenue, new business, customer engagement and satisfaction, and brand growth, you avoid the annual “Marketing dept. review session”. My experiences show, out of site, means out of mind, and results in an agency approach to your value. Agencies come in periodically and are not viewed as singularly focused on your business. Make sure you are in the conversation all the time and viewed as singularly focused on business success.
2) Make sure you blend your specific marketing “expertise” with demonstrated expertise in business leadership. This comes up in every CMO CLUB dinner yet we still tend to migrate quickly to marketing metrics, marketing vehicle leverage, or new social media for customer interaction. For example, be known by your peers and CEO as the “Branding Expert” AND person that brings products to marketing faster and more successfully than anyone in the company.
3) It’s all about the numbers. Demonstrate not only your ability to deliver revenue, profits, etc. but demonstrate how you leverage metrics to manage day to day progress and change quickly as needed to continue to move the dial. Get out from behind the “high flash” presentations to your peers and CEO and move to a business review format and approach.
These are just a few ideas to get the conversation started. What other advice would CMOs give to avoid getting caught up in the “treated like an agency” dilemma?
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