The average tenure of marketing managers in their posts stayed the same last year, according to the latest annual study by executive search and leadership consulting firm Spencer Stuart. This is the lowest level in more than a decade, and is significantly shorter than the tenure of other top executives. CMO Today provides the most important news of the day for media and marketing professionals. The duties of CMOs have changed drastically, making it difficult for them and their employers, said Suzy Deering, who joined Ford Motor Co.
from eBay Inc. in January as global marketing director. This can create tension within companies, she added. Agile development processes can sometimes lead to disappointing results.
Leaders should consider four areas where their organizations may be failing. As the marketing landscape evolves, many organizations are struggling to convert customer and media data into actionable insights. Leaders in measurement are transforming capabilities and breaking down silos. It is well known that CMOs have the highest turnover rate among top management, ranging from 35 to 41 months, depending on the research you analyze.
Even if you think your CMO is a rock star, remember that unicorns hunt the most. The study found that CEOs largely believe that the CMO has influence, and 86% believe that the CMO has the power to influence key decisions of top management. The changing landscape of CMOs can be difficult to navigate for both employers and employees alike. It is important for organizations to stay up-to-date on trends in order to ensure they are making informed decisions when it comes to hiring and retaining CMOs.
Additionally, leaders should be aware of potential pitfalls that could lead to a shorter tenure for their CMOs.