This newsletter comes from the hosts of The Marketing Architects, a research-first show answering your biggest marketing questions. Find us on Apple Podcasts or wherever you listen to podcasts!
This week, we're discussing the relationship between CEOs and CMOs. Running the marketing team at Marketing Architects, I've seen firsthand how crucial this partnership is for growth. So whether you're a CEO wondering why marketing isn't hitting the mark or a CMO feeling misunderstood by your executive team, let's see how we can bridge that gap.
—Elena
Companies with marketing-focused CEOs are 2X as likely to see more than 5% annual growth.
That stat is according to a survey from McKinsey and the ANA, and it underscores the importance of putting marketing at the core of your business growth strategy.
It’s time to build stronger CEO/CMO relationships.
While 90% of CEOs think they've got a handle on what marketing can do for them, only 50% of CMOs feel the same way. That's a pretty big gap. And we’ve all seen evidence of it.
Maybe marketing initiatives don't align with the CEO's strategic focus. Or the CMO is left out of high-level business discussions. Maybe there's a clash between short-term revenue goals and long-term brand building.
This divide hinders business growth. And it’s time to fix it. Because the CEO-CMO relationship isn't just about driving traffic or leads. It can impact everything from how attractive your company is to investors to how well you retain employees.
Here’s how to get started:
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Align on strategy. Make sure marketing initiatives support overall business goals by setting regular strategy meetings between the CEO and CMO.
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Speak the same language. CMOs must articulate marketing's impact in terms of business outcomes, and CEOs should put in time to understand broader marketing effectiveness principles.
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Integrate marketing across the business. Encourage marketing leaders to participate in non-marketing business meetings. You could even consider rotational programs to broaden understanding.
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Communicate results openly. Share marketing wins and challenges frequently with the C-suite and broader organization. You never know what ideas might come out of a transparent discussion.
“Analyzing the CEO-CMO Relationship and Its Effect on Growth”
This McKinsey podcast digs deeper into what makes a great CEO-CMO partnership and how the dynamic of that relationship can directly impact business growth. Listen to the episode.
Marketing should be a priority for any growth-focused leader.
“Marketing is too important to be left to the marketing department."
— David Packard, Co-founder of Hewlett-Packard
