The CMO Club, in thought leadership with Deloitte, developed a comprehensive study to examine the state of marketing organizations today.
Evolving from Storyteller to Business Leader
Perhaps more than any other C-suite officer today, the Chief Marketing Officer continues a nearly decade-long process of adapting to its ever-changing role.
The CMO Club, in thought leadership with Deloitte, developed a comprehensive study to examine the state of marketing organizations today. We analyzed the CMO’s role and reporting structures; marketing organization design structures; current and future scope, skills, and functions of team members; and measures and performance standards of marketing organizations and their leaders.
Study of more than 400 CMO worldwide
We captured benchmark data of more than 400 CMOs from across the globe and contextualized this survey data within sights from more than 20 CMOs participating in the CMO Club’s Fall 2019 Summit roundtable session. In addition, we held in-depth interviews with brand leaders in a wide range of industries. Senior executives that participated include; Andrew Miller, VP Global Marketing and Communications, Aon, Dee Mc Laughlin, Chief Marketing Officer, Capital Group, American Funds, Cindy Donohoe, Executive Vice President, Chief Marketing Officer, Highmark Health, Chad Lusk, SVP, Chief Marketing Officer, Hostess Brands, Tariq Hassan, Chief Marketing Officer, Petco, Marisa Thalberg, CMO, Lowes, recent CMO, Taco Bell, Michael Lacorazza, Executive Vice President, Head of Integrated Marketing, Wells Fargo.
Through quantitative and qualitative research methods, this benchmarking report provides a forum for marketing leaders to compare and measure their respective roles and organizations to their global marketing peers. We’ve identified pain points, determined critical decision areas, and established a roadmap to elevate the marketing organization for success in this era of change.
Key highlights from the report include:
- Gaining ground in the C-suite. 71% of CMOs indicate their role is considered part of the C-suite; 59% report directly to the CEO and 27% report to the COO or President.
- Accountability far more than ever. More than half of CMOs surveyed indicate they are responsible for 11 or more areas of marketing activities. Still, other activities are listed that CMOs would like to bring in to further drive success.
- Measuring effectiveness establishes success, builds credibility, fosters collaboration. CMOs report the top three measurements of success in the eyes of their CEO are awareness (51%), sales/revenue (31%), and media ROI (29%).
- Identifying and closing skills gaps, finding the right fit. Three primary skills emerged as the biggest: data science (78%), analytics (68%), and user experience (60%).
- Balancing internal and external talent. CMOs are flexing by building in-house capabilities, tapping external agencies, and working with a hybrid model of both.
- Filling the leadership void. A full 61% of respondents said they do not have a direct report who could step into the CMO role tomorrow.