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Chief Marketing Officers are responsible for the marketing strategies and initiatives that move a business forward. They have to build brand recognition, corporate reputation, and make their company top-of-mind in their segment. So why can’t CMOs market themselves? According to a Spencer Stuart CMO Summit, CMOs do a very poor job of winning respect from their bosses, and it is well past time for CMOs to start selling themselves within their own organizations. After all, if one can’t market him/herself, how can s/he market the business? A Spencer Stuart survey of 500 marketing executives across industries found that 70% of the respondents desired to eventually move into a general management or CEO position. Only 30% said that their goal was to become CMO. Most of these marketers said that the reason for their aspiration was to become more effective at what they do. One of the key frustrations cited by respondents is that they were tired of having their decisions second-guessed by other management officers. By moving into a more general position, they could pursue strategies without the internal conflicts. The largest obstacle the respondents saw as keeping them from a management position is that marketers are not perceived as broad and deep business people. The second most common response was a perceived lack of financial expertise. In order for CMOs to be taken seriously, then, it seems that they must step up and prove themselves to their colleagues. How? By better reporting and metrics, and showing the impact marketing is having on the company. Drilling down into the numbers and providing guidance on marketing initiatives could set the stage for a greater recognition of their talents. |
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