f CMO roles as we’ve defined them have required proficiency not only in marketing but across multiple business functions, the job has expanded even further in complexity to include sustainable growth, highly personalized customer experiences, and advanced marketing innovation.
When we initially classified CMO roles, one of the crucial areas of focus involved the responsibility to create and manage profitable growth. Subsequent conversations around the standing of the good CMO facilities as a growth driver have revealed big gaps between the ideal state and reality.
For instance, in interviews with a variety of C-suite executives, both within and outside the CMO role, half of the interviewees say having an enterprise-wide mindset was one of the most important factors in a CMO’s success. Yet only six percent of CMOs describe themselves as actively working on growing revenue across all global business activities.
A separate report similarly reveals some of the discomfort CMOs express in assuming the role of growth driver. Respondents cmO survey nearly unanimously (95 percent) say revenue is the top measure of growth in the organization, while 70 percent feel most confident driving growth through revenue.
But only 32 percent feel prepared to impact market share, and just 20 percent feel prepared to drive gross margin, even though both of these are considered critical areas of growth by the business.