Crucial Characteristics of Exceptional CMOs ~via Steve Olenski
Steve is a dear friend. He is known as The CMO Whisperer, and I have been fortunate as a friend and colleague to benefit from his "whispering" insights, advice, and encouragement. Here Steve shares about the Chief Marketing Officers and the ever-evolving marketing landscape.
P.S. Steve is on the lookout for an enticing new role (and great CMOs to interview), so if you want the best of the best, reach out... steve@cmo-whisperer.com /Ted
Navigating the ever-evolving marketing landscape requires a Chief Marketing Officer (CMO) to be a versatile and adaptive leader. With roles ranging from distribution and sales management to customer service and public relations, the CMO's toolkit needs to be extensive. However, amid the fluctuating expectations and diverse responsibilities, successful CMOs consistently exhibit a core set of qualities.
Here are five characteristics that set them apart:
1. Collaboration as a Cornerstone
A successful CMO is not just a leader but an outstanding team player. Actively seeking input from all team members, they serve as mediators, fostering cooperation and resolving issues. The CMO becomes the glue that binds a marketing team, ensuring everyone aligns with a cohesive vision. Collaboration is not just a buzzword for them; it's a way of creating synergy and focus within the team.
Doug Zarkin, Chief Brand Officer for The Good Feet Store and author of "Moving Your Brand Out Of The Friend Zone" spoke about the need to collaborate with everyone in a given organization on The CMO Whisperer Podcast. Listen to the full episode on Apple (https://tinyurl.com/22akbnwm), Spotify (https://tinyurl.com/fm4zhj4w) or wherever you listen to podcasts.
2. Adaptability and Creativity in a Tech-Driven Era
Living in an era defined by rapid technological changes - AI ring a bell? a successful CMO embraces adaptability and creativity. They value innovation, take calculated risks, and recognize when to let go of the past to explore new approaches. Standing out in the oversaturated digital landscape requires a CMO to be a risk-taker, groundbreaking, and unafraid of unique solutions.
On the The CMO Whisperer Podcast Richard K. Howe Chairman and CEO of Inuvo, Inc a leading provider of marketing technology, powered by AI that serves brands and agencies, shared his thoughts on 3rd party cookie deprecation, the role AI is playing and the role AI should play. Check out the episode on Apple (https://tinyurl.com/5n6nsbmd), Spotify (https://tinyurl.com/4hjd5k6n) or anywhere you listen to podcasts.
3. Customer-Centric Mindset
Contrary to popular belief, a CMO's primary goal isn't just pushing products and racking up sales. They understand that the customer comes first. Actively seeking to fulfill customer wants and needs, a good CMO, in the words of Trevor Edwards former President of Brand for Nike, believes that "Marketing exists to serve our consumers – one at a time." Monitoring public opinion and advocating for the customer within the team ensures that the customer remains the center of the marketing process.
This was one of many topics Raja Rajamannar CMO of Mastercard spoke passionately about during my conversation with him on The CMO Whisperer Podcast available on Apple (https://tinyurl.com/5cz87889), Spotify (https://tinyurl.com/3v27ama6) or wherever you listen to podcasts.
4. Be the Voice of the Customer
A CMO should embody the customer's perspective, crucial for crafting successful marketing strategies. This customer-centric approach ensures resonance with the target audience, fostering stronger connections, brand loyalty, and guiding product development to meet market needs, driving overall business success. In essence, the CMO as the customer's representative serves as a compass for effective marketing endeavors.
When I spoke with Alma Derricks, NACD.DC former VP of marketing for Cirque du Soleil Entertainment Group she told of the need for CMOs to be that voice, to represent the customer in the c-suite. Listen to the full episode on Apple (https://tinyurl.com/cncsa4fd), Spotify (https://tinyurl.com/mw2d53f7) or wherever you listen to podcasts.
5. Analytical and Inquisitive Minds
Marketing is increasingly data-driven, and a successful CMO must be adept at navigating the sea of information. Balancing a mindset akin to a detective and a scientist, they observe, ask questions, conduct experiments, and refine strategies based on data. While they don't need to be data analysts, the curiosity to seek answers and the ability to find relevant sources distinguish them as invaluable assets to their organizations.
In the words of Doug Collier, former SVP of La-Z-Boy, "The world is changing so fast, particularly from a marketing standpoint that if you’re not interested in learning new things, you’ll be left in the dust very quickly." For a successful CMO, the journey involves staying curious, adapting, and unlocking the potential of the ever-changing marketing landscape.
Dr. Marcus Collins best-selling author of the book For the Culture: The Power Behind What We Buy, What We Do, and Who We Want to Be, and professor of marketing at the Michigan Ross School of Business Executive Education shared his insights on the need to always stay curious during my interview with him on The CMO Whisperer Podcast. Listen on Apple (https://tinyurl.com/yc4ts73a), Spotify (https://tinyurl.com/3cjzn66d) or anywhere you listen to podcasts.
