The WSJ reported earlier this month that the average tenure for chief marketing officers (CMOs) remains at its lowest level in the past decade. Annual research from executive search and leadership advisory firm Spencer Stuart found that the average tenure for CMOs is 40 months. The average tenure of CEOs is climbing – now at an average of 85 months.
According to the article, “CMOs are grappling with intense pressure to drive profitable growth, meet changing demands for business transformation and keep up with increasing complexity in the broader marketing landscape.”
Gartner, Inc., Vice President Analyst Chris Ross shared that “in some organizations, just the expectations for CMOs are just so out of whack with the reality of what a CMO can really deliver on the timelines, and with the resources and with the headwinds that they have.”
Setting expectations and securing executive and board-level buy-in is critical for CMOs. This includes having shared clarity on the CMO role, intended objectives and vision of success.
The Association of National Advertisers recently published an article, “Why Chief Executives Run Out of Patience with Their CMOs,” which focused directly on the importance of setting clear expectations with the entire C-suite. Further, the author reported that a recent survey “found that nearly 60 percent of CEOs believe CMOs speak their own language rather than speaking in terms the CEO and CFO can appreciate.”
Further, frequent transitions at the CMO level can be disruptive and expensive for an organization. It is often in the best interest of the executive team and board to minimize turnover in the CMO role. Additionally, changes at the CMO level can result in changes to the overall strategy. If the marketing strategy is shifting every three years, this can disrupt momentum and hamper longterm results.
So, when setting expectations, CMOs need to clearly articulate how marketing contributes to the bottom line – in terms that the CEO and CFO understand.
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