The modern chief marketing officer (CMO) always adapts to new technologies, channels, regulations, and changing customer preferences. This reality shapes what we look for in the modern CMO beyond their traditional responsibilities and skill sets.
The old-school CMO tends to be more tactical, focusing on the overall marketing plan, brand equity and “voice,” and public relations. The tendency for digital was to rely on vanity metrics like views and clicks.
However, the demands of the modern C-suite require CMOs to touch upon, manage, and measure all aspects of a business, drive and optimize customer experience, and consistently scale revenue. The CMO must prove themselves to be integral to the development of an enterprise.
Here are five key skills needed for the modern CMO to succeed.
1. CMOs need to be Data-Driven
The concept of ‘data-driven marketing’ has been around for a while, but it continues to grow with data sets expanding at exponential rates. The modern CMO needs to be adept at aggregating data from disparate sources and having the skills and knowledge to interpret it.
The ability to use data and insights can inform real-time decision-making and strategic planning and help mitigate risk. Marketing teams must be agile to adjust and iterate in real time.
The vast wealth of data available to marketers is only as helpful as the ability to interpret and act upon it. The CMO must implement customer data platforms or management tools and understand how to leverage the technology for maximum benefit.
Data-savvy marketing leaders drive growth and are vital to their organizations.
2. CMOs need Cross-Functional Leadership skills
A great CMO needs to be more than just the leader of the marketing team. They represent the people’s voice and need to integrate consumer needs and marketing strategies to add value to other cross-functional departments and teams.
A deep understanding of the organizational structure and political savvy are crucial so that marketing can interact successfully with all the cross-functional teams. A good CMO will collaborate with the organization and members of the C-suite while explaining how marketing inputs can lead to tangible and measurable outputs. Marketers must demonstrate their value and return on investment, not simply as a ‘black box’ that consumes resources.
3. CMOs need to understand Digital Transformation
CMOs must leverage modern technologies like AI for improved user experience, engagement, and revenue growth. They should partner across silos with peers like the Chief Technology Officer (CTO) to drive innovation to stay competitive.
Advancements in these technologies may lead to unprecedented opportunities for personalization and predictive marketing. However, until their potential is realized, CMOs need to be discerning about whether they truly bring value at present. It is another changing field and potential tool that CMOs need to understand and prepare for.
4. CMOs need to be practiced in personalization
Modern customers are increasingly demanding, and their expectations continue to grow. Simply delivering adverts for products the customer searches for online is not enough.
Organizations have been forced to rethink their approaches to customer experience. Personalization and brand engagement should be present throughout the customer journey, from acquisition to retention and monetization.
Today’s customers expect a more personally tailored experience that builds with every interaction with the brand. The CMO must master guiding the brand experience, reflecting individual consumer consumption preferences, values, and lifestyles.
Marketers can build brand loyalty by prioritizing customers and using personal data to enhance their journey.
5. CMOs need traditional skills
As the role of the CMO continues to evolve and adapt, certain fundamental skills will always be integral to the position. Creative ideas, campaigns, and strategic storytelling are traditional ways to build a strong brand.
With the rise of data-based analysis, these abilities must be balanced and enhanced. The modern CMO needs to balance traditional and technical skill sets.
A successful CMO blends new technologies with essential core skills when needed. Balancing modern tools with traditional skills effectively enhances marketing strategies, ultimately leading to greater success in campaigns. They must embrace innovation and know what works best for the marketing team and organization.
The modern CMO has had to evolve and adapt more than ever before. Technological development and changing markets have created new challenges, expectations, and opportunities.
This is not an exhaustive list, as the skills and knowledge necessary for success vary from the industries they navigate.
CMOs must embrace change and blend technology and traditional skills to bring value to an organization. Understanding customer needs and conveying them to the C-suite will advance the company and strengthen the CMO’s role.
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