Decoding the world: assessing human behavior and market trends and turning them into actionable insights is vital.- Growth strategy: partnering with others in the C-suite to help ensure your firm is competing and winning in the right places is crucial.
- Strategic brand development: brand purpose is an important consideration for many consumers. CMOs must continually assess existing brands.
- Product and service innovation: CMOs need to help lead innovation to give their firm a competitive advantage. Examples include Chick-fil-A’s improvement of the drive-thru experience and Pelton’s in-home fitness programming.
- Breakthrough content and engagement: This is essential to rise above the noise.
- Creative customer experience: marketing leaders are more often charged with working with Operations, Product Development and other non-marketing functions to transform customer experiences.
- Integrated stakeholder engagement: “Responsible CMOs partner effectively with their corporate communications, HR, channel management and investor relations counterparts to deliver a cohesive voice to the marketplace based on core brand principles,” according to the Forbes article.
- Revenue and channel leadership: The pandemic has shifted the way consumers buy and research products, which has blurred the lines between digital marketing and digital selling. CMOs need to understand how to work in an agile manner to address buyer needs.
- Marketing capability: CMOs need to be able to build and lead a corporate function that regularly experiences disruption.
- Media and performance: CMOs must be able to generate and use data that helps them more precisely target customers and “deliver tailored messages in moments that matter.”
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You Need These 10 Things to Become a Great CMO: Research
A recent study from Spencer Stuart and The Institute for Real Growth has identified ten capabilities that CMOs need to rise to an elite level. So reports Forbes.