Why Are CMOs Dropping Like Flies

Curated by Paul Helmick

I’m a Technology CEO and Experienced Entrepreneur. I love helping people use technology to grow their business. 

  • A new study shows that CMO turnover is higher than ever
  • In some industries, the trend is eye-popping where up to 48% of companies have had a change in marketing leadership in the last 12 months
  • Sadly, 62% of companies replace their CMOs with someone from outside the company, a clear indicator that many CEOs don’t believe anyone else who works at their companies has the answers either
  • What is going on
  • In interviews with a dozen CMOs and CEOs, Russell Reynolds concluded that there were eight distinct factors
  • “Digital, digital, digital, digital, digital, digital, digital, and digital”
  • Business today demands a quantifiable ROI on every dollar of marketing expenditure and has an overly optimistic expectation that digital will be able to deliver it
  • This results in misaligned needs and expectations all over the place
  • Up to 90% of sales are influenced by the web, while 80% of purchases are actually made in a physical location or via a business relationship
  • This insight implies we should be very thoughtful about the role of digital to dramatically influence, but not necessarily close the sale.

Via AdAge and in depth an analysis from Swystun Communications

 

 

 

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