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CMOs Must Show Optimism Amid Pandemic

Many marketers have faced mid-year budget cuts amid the pandemic, according to a recent report from Gartner, but 73% of CMOs expect the fallout from the pandemic to be temporary. So reports CMS Wire.

keywords 2768306 640smallBecause CEOs and other c-suite executives are more pessimistic, Gartner suggested this may indicate CMOs are out of sync with the rest of top level executives. However, CMS Wire argues that optimism is a key part of the CMO role.

CMOs need to identify and grow new markets for the company’s products and services. “To do their job well, they need to believe in and plan for that growth—even when times are tough, their peers are doubtful, and the pipeline is sluggish,” according to the article. “They need to maintain the vision of growth and find new paths to achieve their goals.”

This vision and optimism is needed in the boardroom as CMOs seek to convince others about new opportunities. It also provides an important balance to the ruthless, cost-cutting mentality of other executives in areas such as finance.

To help them strengthen their credibility in the boardroom, CMOs should turn use trustworthy data, temper their optimism with realism, embrace the optimism they do have, allow room for failure, and be sure to maximize the use of existing assets at the company.

Read the full article from CMS Wire.

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