CMOs: success factors for change-drivers
Chief Marketing Officers are increasingly hired to restructure, reshape and re-skill their organizations. The study “Renovate to Innovate: Building Performance-Driven Marketing Organizations” by the CMO Council and sponsored by Egon Zehnder, looks at the factors governing CMO success in the face of such challenges. The report, based on in-depth interviews with over 20 CMOs and a historical review of the CMOrole, identifies the support of the CEO and other executives, as well as solid marketing performance metrics as preconditions for success. According to the study, outstanding CMOs are results-oriented individuals and strategic thinkers. Top CMOs, “have mastered the techniques for bringing together disparate groups of individuals in challenging situations (such as businesses or geograhies) to work as a highly coherent high-performance team,” writes Dick Patton, co-leader of the global CMO practice at Egon Zehnder, Boston. “That ability is virtually the definition of the great CMO – and the great CEO,” he concludes.