A chief marketing officer (CMO) is a corporate executive responsible for marketing activities in an organization. This is a very challenging position and since last few years, especially CMOs of the companies are under tremendous pressure as the position has become riskier than ever.
Something is going very wrong in the relationship between CEOs and CMOs. As per the global survey by the Fournaise Marketing Group, the results reveal that 80% of CEOs don’t trust or are unimpressed with their CMOs.
This is the very reason that CMOs have the highest turnover. A study says that almost 57% of them have been in their position for three years or less.
Unlike CFOs and CIOs, whose roles are primarily inward facing, CMOs have a direct effect on the way customers engage with the firm. Therefore, they are often responsible for changing the strategic direction.
Companies can experience internal disruptions, including major recruiting and severance costs due to this issue.
The CEOs should carefully design job and responsibilities of the CMO and must consider factors like role, an organizational structure so it could be designed correctly.
