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5 Questions the CEO Should Ask Marketing

The relationship between the CEO and the marketing function in many organizations is dysfunctional. The scope of management oversight the CEO provides marketing ranges from none to micromanagement. Neither of these extremes are healthy for the organization. Watch the webinar here - http://www.demandmetric.com/content/webinar-ceo-marketing-relationship

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5 Questions the CEO Should Ask Marketing

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  1. 5 Questions the CEO Should Ask Marketing TODAY’S AGENDA  Background5 Questions the CEO should  CMO Tenure ask Marketing  The CEO/Marketing Relationship  The Five Questions  Summary A Demand Metric Webinar Presenter: Jerry Rackley Chief Analyst jerry@demandmetric.com Host: John Follett CMO john@demandmetric.com© 2012 Demand Metric Research Corporation. All Rights Reserved.

  2. Whose side are you on Demand Metric?Demand Metric is still a marketing advisory firm, right?True!  Marketing tools & templates  Best practices advisory and services  A mission to help marketers work smarter to achieve better results in less time MARKETERS © 2012 Demand Metric Research Corporation. All Rights Reserved. Whose side are you on Demand Metric?Demand Metric is still a marketing advisory firm, right?True!  Marketing tools & templates  Best practices advisory and services  A mission to help marketers work smarter to achieve better results in less time MARKETERS © 2012 Demand Metric Research Corporation. All Rights Reserved.

  3. Our objective To foster healthier– and therefore productive – relationships between the CEO and the Marketing function.The purpose of these five questions:  Start and encourage a productive, collaborative dialogue  Focus the CEO/CMO (Marketing) relationship in the right place  Remind us that there are no “sides” but one team © 2012 Demand Metric Research Corporation. All Rights Reserved. Our objective To foster healthier– and therefore productive – relationships between the CEO and the Marketing function.The purpose of these five questions:  Start and encourage a productive, collaborative dialogue  Focus the CEO/CMO (Marketing) relationship in the right place  Remind us that there are no “sides” but one team © 2012 Demand Metric Research Corporation. All Rights Reserved.

  4. The most dangerous job in business?SpencerStuart1 average tenure in months of a CMO in2011:  Top 100 advertised brands: 43 months Months  Communications & Media: 33 months  Automotive & Restaurant: 25 months 2004 2005 2006 2007 2008 2009 2010 2011By contrast, CEO average tenure at the top 100 advertised brands in 2010 was 111 months.1. July 5, 2012 - http://www.spencerstuart.com/about/media/72/ © 2012 Demand Metric Research Corporation. All Rights Reserved. The most dangerous job in business?SpencerStuart1 average tenure in months of a CMO in2011:  Top 100 advertised brands: 43 months Months  Communications & Media: 33 months  Automotive & Restaurant: 25 months 2004 2005 2006 2007 2008 2009 2010 2011By contrast, CEO average tenure at the top 100 advertised brands in 2010 was 111 months.1. July 5, 2012 - http://www.spencerstuart.com/about/media/72/ © 2012 Demand Metric Research Corporation. All Rights Reserved.

  5. Why the short tenure?The breadth of CMO responsibilities:  Grow market share  Keep costs down  Acquire new customers; retain existing ones  Grow brand equity SAVE THE  Be innovative and creative  Function as corporate cultural ambassador & change agent © 2012 Demand Metric Research Corporation. All Rights Reserved. Why the short tenure?The breadth of CMO responsibilities:  Grow market share  Keep costs down  Acquire new customers; retain existing ones  Grow brand equity SAVE THE  Be innovative and creative  Function as corporate cultural ambassador & change agent © 2012 Demand Metric Research Corporation. All Rights Reserved.

  6. Why the short tenure?Who’s leading?  The best CMOs are leaders first and marketers second  Some CEOs aren’t willing to allow their CMOs to lead The relationship is sometimes a little dysfunctional! © 2012 Demand Metric Research Corporation. All Rights Reserved. Why the short tenure?Who’s leading?  The best CMOs are leaders first and marketers second  Some CEOs aren’t willing to allow their CMOs to lead The relationship is sometimes a little dysfunctional! © 2012 Demand Metric Research Corporation. All Rights Reserved.

  7. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  8. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Emma Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Emma Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  9. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Marketing Emma Genius Jim Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved. The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Marketing Emma Genius Jim Empowerment Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  10. . The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Marketing Emma Genius Jim Empowerment Micromanager Maggie Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  11. . The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Empowerment Marketing Emma Genius Jim Empowerment Wrecking Micromanager Ball Rick Maggie Resume Update Zone Road Blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  12. . The CEO/CMO relationship HIGH Marketing Enablers Constructive Collaborators Zone of maximum harmony. Empowerment (AKA “the sweet spot) Resume Update Zone Road blockers LOW Marketing Orientation/Awareness HIGH © 2012 Demand Metric Research Corporation. All Rights Reserved.

  13. . The Goldilocks Principle Over-involvement Under-involvement Ideal-involvement Project immersion  Project ignorance  Project awareness Default manager  No management oversight  Empowered & supported Must approve everything  Projects apathy  Aligned with vision Marketing function pitied  Marketing lacks respect  Marketing commands respect Too Hot Too Cold Just Right © 2012 Demand Metric Research Corporation. All Rights Reserved.

  14. . The questions  Representative, not comprehensive  Fair, insightful, penetrating and maybe even difficult  Answer quality influences degree of empowerment: » High: complete creative freedom » Medium: set clear expectations about results to earn empowerment » Low: marketing needs to provide good answers or face questions about fitness & leadership Don’t use these questions to conduct a performance review. © 2012 Demand Metric Research Corporation. All Rights Reserved.

  15. . 1. What’s the status of our brand?Brand = trustmarkMarketing “owns” the brand:  Protect it  Grow it  How healthy is it?  How well is it working? © 2012 Demand Metric Research Corporation. All Rights Reserved.

  16. . Brand Assessment Tool Download © 2012 Demand Metric Research Corporation. All Rights Reserved.

  17. . 2. What plans to make marketing a revenue center? The Pedowitz Group Revenue Marketing Journey Number of Marketing organizations creating repeatable, predictable & sustainable revenue results © 2012 Demand Metric Research Corporation. All Rights Reserved.

  18. . Marketing Automation Maturity Assessment Download © 2012 Demand Metric Research Corporation. All Rights Reserved.

  19. . 3. How is marketing exploiting our differentiation?Core issue: PositioningYour CMO will ideally: Understand, create or refine your market position and how it differentiates you Understand how competitors are positioned Exploit and showcase your differentiation through all possible channels Does the position you’ve developed provide adequate differentiation? © 2012 Demand Metric Research Corporation. All Rights Reserved.

  20. . Positioning Statement Worksheet Download © 2012 Demand Metric Research Corporation. All Rights Reserved.

  21. . 4. How pervasive is the marketing culture?Is marketing a box on the org chart or what all employees do?The CMO is your marketing cultural ambassador for creating the understanding that marketing is: Every time you answer the phone Every time you send an e-mail Every time someone uses your product Every word on your website Every invoice Every encounter with an employee: janitor, checkout clerk, etc. Something everyone does 24/7 © 2012 Demand Metric Research Corporation. All Rights Reserved.

  22. . Core Values Worksheet Download © 2012 Demand Metric Research Corporation. All Rights Reserved.

  23. . 5. What measurements are used to track results? Activity is fine; results are what matter. Everyone will have an opinion about the quality of marketing’s efforts – what does the data say? “…when you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot express it in numbers, your knowledge is of a meagre and unsatisfactory kind…” Lord Kelvin © 2012 Demand Metric Research Corporation. All Rights Reserved.

  24. . Key Marketing Metrics Dashboard Download © 2012 Demand Metric Research Corporation. All Rights Reserved.

  25. . How do you know? A great follow-up question to each of the first four questions Reveals source of answer: » Data? » Intuition? Is a confidence indicator based on the degree of authority & conviction behind the answer. © 2012 Demand Metric Research Corporation. All Rights Reserved.

  26. . How we can help Demand Metric resources » Multiple tools for each question topic » Insight from the Demand Metric blog: blog.demandmetric.com Advisory services » For Marketing: help positioning & communicating the value Marketing provides » For the CEO: help in managing Marketing most effectively Contact us at: info@demandmetric.com © 2012 Demand Metric Research Corporation. All Rights Reserved.

  27. . Summary A healthy relationship between the CEO and Marketing is a competitive advantage. The ideal relationship: » CMO is empowered to lead Marketing and is measured on results. » CEO propels Marketing with vision, provides support and accountability. The five questions can help orient misaligned CEO/CMO relationships. Questions? © 2012 Demand Metric Research Corporation. All Rights Reserved.

  28. . The end  © 2012 Demand Metric Research Corporation. All Rights Reserved.

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