WARC, 25 February 2014
PALM SPRINGS: The influence of chief marketing officers in
large organisations has increased markedly in recent years, with this group
being afforded a newfound respect by their C-suite colleagues, a leading
industry figure has said.
Well into the first decade of the 21st century, senior
leadership at major global enterprises largely shared the same perception:
"The chief marketing officer was a big spender who had little respect from
the board."
But that has now changed, according to Bob Liodice,
president/ceo of the Association of National Advertisers (ANA). "The CMO
has become an equal management peer, with a shared sense of business
responsibility," he told delegates at the Interactive Advertising Bureau's
(IAB) Annual Leadership Meeting in Palm Springs, California,
Citing a Marketing2020 study conducted by the ANA and New
York-based marketing strategists EffectiveBrands, Liodice said that "CMOs
often have the most understanding of the transparent 365/24/7 market and
they're being asked to show the way by the CEO and their peers".
He explained that CMOs were "finding the pathway"
to a new business model and as a consequence had gained the CEO's confidence.
"Their influence has dramatically increased," he said.
In addition, they were using that pathway to build
relationships with consumers and customers in real time. (For more, read Warc's
exclusive article: Three "winning" characteristics of effective marketers.)
The bottom line, said Liodice, was that "CMOs are now
figuring out how to be able to build growth in a very systematic, organised
way, whether that growth is captured in market share, revenue growth or income
growth."
In particular, the study identified three
"winning" characteristics that distinguished the work of the most
effective marketers: big insights, purposeful positioning and total experience.
Data sourced from Warc
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