CMO Confidential McKinsey & A.N.A | Marketing: The Battle Between Believers & Non Believers | Part 1
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Dec 24, 2024 Join Robert Toss, a McKinsey marketing partner with 25 years of experience, and Nick Primola, ANA's EVP focused on industry leadership, as they dissect the widening rift between marketing believers and skeptics. They reveal shocking data: 90% of CEOs distrust marketing, affecting growth. The duo explores CEO archetypes and why alignment between CEOs and CMOs is crucial. They argue that seeing marketing as a cost center is dangerous and insist that the CMO role is more relevant than ever, emphasizing the need for a cultural shift and better financial connections.
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CEO and CMO Disconnect
- There's a major disconnect between CEOs and CMOs regarding marketing's role.
- Three CEO archetypes exist: those who understand marketing, those who somewhat get it, and those who see it as a cost center.
Boards Lacking Marketing Expertise
- Many boards lack marketing expertise, hindering their understanding of the function's value.
- This often leads to non-believers questioning brand-building efforts, even while using brands themselves.
CMO-CEO Alignment
- CMOs must align with CEOs on short-term and long-term KPIs and deliverables.
- Focus on demonstrating how marketing levers impact sales and margin, translating marketing metrics into business outcomes.