Do you need a VP Marketing or CMO in Your Business?

Why Every Company Needs a VP of Marketing or Chief Marketing Officer

June 1, 2013Leave a Comment
 “Marketing Looks for Mr. Right. Sales looks for Mr. Right Now.”Mitch Bishop, now with Moovweb at the CMO Thought Leadership Summit

A CMO at this event said those very words to me, which is a wonderful description of the difference between sales and marketing.  Said another way – Marketing communicates one to many, while sales communicates one to one. Doesn’t every company need a leader to focus on finding Mr. Right?

(Update: It takes more than a top marketing leader to generate good ROI.  IDC just completed a study of CMO ROI and they reached three conclusions, which I share with you here. And you can read the original article here.)

You must have the muscle (ie: budget) to move the needle.

#CMOFact: As a percentage of revenue, Marketing Leaders spend ~3X more on marketing than the Challenged Tweet This!
It is important to note these properly funded Marketing organizations were not just blessed by their CEO with a strong budget, they first proved their worthiness. The first step to earning your budget is to be efficient and effectivley track the dollars given to your department. Leading companies spent years optimizing (and wisely spending) their budget before earning a larger piece of the pie.
“Marketers, tear down these walls!” 

#CMOFact: Marketing leaders staff Campaign Mgt roles at 5.4% of their staff. Challenged staff at 1.7%… Tweet This!
The quote was once said by Ronald Reagan…ok, maybe he didn’t say that, but we are seeing leading marketing organizations aggressively staffing areas that promote communication and knock down proverbial departmental walls. Leaders staff Campaign Management, Sales Enablement and Marketing IT at a significantly higher rate than the challenged.  They also staff MarCom and Executive & Admin positions at much lower rates.
Remember who keeps the lights on and bust your…you know…to make their lives easier.

#CMOFact: Marketing challenged spend 22% of their program budget on digital. The leaders spend 33%! Tweet This!
Within tech we often think of innovation as tied to R&D and the product; however leading companies are actively innovating their marketing tools and strategy. The buyer has changed and no matter how good your product is, if the value proposition is not delivered in a way that ‘speaks’ your buyer’s language you will risk losing business. Leading companies are pushing boundaries through new and innovative digital strategies and cap spend in areas like Email Marketing and Events.


Chief Marketing Officer

I was surprised that the Colorado-based company Datalogix raised $25 million dollars recently, but when one looks at their management team, there’s no one there with “marketing” in their job title. I think this is a big mistake.  Unless a company has very simple products and a very select marketplace, then every company needs to have a VP of Marketing or a Chief Marketing Officer.  Are you listening, Datalogix? After all, who ensures the company has a consistent message, had a strong content marketing program, and sets up lead nurturing and scoring?

It’s a mistake to rely on salespeople to develop their own leads and, since they want Mr. Right Now, they’re ill equipped to patiently nurture leads. Leaving nurturing in Sales almost never works. This is why, frankly, companies who lack a VP of Marketing or Chief Marketing Officer deeply concern me. Said another way, with up to 70% of the buying cycle taking place before the salesperson meets the prospect, it takes marketing to earn trust. This is why, frankly, every company needs a VP of Marketing or Chief Marketing Officer today. In addition, titles such as Chief Customer Officer and Chief Content Officer are becoming more and more common.

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1 Comments to “Do you need a VP Marketing or CMO in Your Business?”

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