Gartner Survey Reports Most CMOs on Shaky Ground
A Gartner survey revealed that only 27% of CEOs and CFOs said their company’s CMO’s performance exceeded expectations. Even when the marketing department achieved its commercial targets and growth, the figure only rose to 45%.
The study disclosed that communications between CMOs and their C-suites needed improvement. Only 22% of the respondents said they received significant clarity from CMOs regarding marketing accountabilities. About 40% of the polled senior executive believed their CMOs collaborated effectively and about half felt confident in the CMO’s ability to prove the value of marketing to the enterprise.
Finally, adaptability was cited by executive leadership as a critical factor for continue job tenure.
A Gartner researcher summarized the study by saying, “In today’s landscape, delivering results is just the baseline for CMOs. To thrive, they must raise their leadership profile in the C-suite. CMOs need to clarify their role in growth initiatives and improve collaboration on key initiatives.”
TW’s Take
B2B and life science CMOs and marketing leaders are under more C-suite pressure than ever before. Issues such as adaptability, accountability, and business value have become the new normal. CMOs must lean on their marketing services providers to not only generate revenue growth, but also help them communicate their successes to executive management. That means relying on marketing agencies for the latest technology trends, analytics and measurement approaches, and go-to-market strategies. A strong client-agency partnership can help CMOs secure their place on the leadership team as well as move their business forward.
