If Jonah Sachs, the author of Story Wars, is correct, the tenure for today's chief marketing officer is a minuscule twenty-two months.
Is the role of a CMO dying? What accounts for this short-lived position in the battlefield for impact? Are CEO's usurping the role? Are marketers the fall-guys for the state of the economy?
The answer: None of the above. Think about the rules. Start with any corporate guideline relating to marketing. CMO's who challenge and reinvent "the rules" by connecting their digital mindset to the customer, have serious leverage. Imagine the CMO who "gets customer relationships". iContact's, John Florentino is emblematic of "getting the customer right". I'll write more about John's value to iContact's brand value in the future.
I believe that a CMO's success is based on a customers' brand perception and how it relates to personal experience. CMO's become unique assets when they design emotion into every aspect of experiencing the brand. The results of building strong and loyal customer relationships can then be factored into the valuation of the brand.
A second career-saver is Return on Relationship™ (ROR). Adapt it to measure your progress, collaborate with your CFO to modify ROI and revise the company's financial worksheets. "ROR simply put, is the value that is accrued by a person or brand due to nurturing a relationship, whereas ROI is simple dollars and cents", say Ted Rubin and Kathryn Ross, authors of the new book, Return on Relationship™. They break with the past by creating authentic connection, interaction, and engagement rules. They offer one of the most innovative modifications of the old rules, thus increasing the value and lifespan of a CMO.