How CMOs can gain more influence in the C-suite: Advice for marketing leaders as CMOs are 'facing an existential crisis'.

SENIOR leadership teams; CHIEF financial officers; SMOKING cessation; BUSINESS enterprises; CHIEF marketing officers; MARKETING

The role of chief marketing officers (CMOs) is facing an existential crisis as the demand for faster, better, and cheaper marketing takes a toll on these executives. A survey by McKinsey and the Association of National Advertisers found a significant disconnect between CMOs and CEOs, with CEOs focused on revenue growth and margin improvements while CMOs prioritize brand awareness and recognition. The role of the CMO is being confused as companies add new executives, such as chief digital and growth officers, who also take on customer-related duties. This misalignment is a top concern for CMOs, and many feel that the disconnect has not improved. The industry has seen major companies cutting the CMO role, although it often returns after a few years. The emphasis on performance marketing and short-term results has also led to a lack of appreciation for other forms of marketing that contribute to the long-term health of a company. CMOs need to understand the perspectives of CEOs and CFOs and speak their language to improve their influence in the C-suite. [Extracted from the article]

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