Pull up a chair cause Steve O has a lot of thoughts on this piece boys and girls.
First, what a brilliantly penned piece by Kristina Monllos Having written more articles than prescribed by law during my time at Forbes, I have massive respect for those who it well and Kristina does it very well. So, kudos to you, Kristina.
Ok, as for my thoughts...
➡️ Massive shoutout to Jay Pattisall from Forrester for calling Starbucks' decision to eliminate the Global CMO role for what it is, or in this case IS not: It is NOT a canary in the coal mine. There ain't no canary and there ain't no coal mine. Translation: It's much ado about nothing, at least not when it comes to the demise of the CMO role bullshit (pardon my French) we need to hear and read about every 6-12 months. Add my name to the list of marketers, brand executives, trade group leaders and consultants who see it as a reflection of the current reality for CMOs, as Kristina writes.
➡️ Love what Marla Kaplowitz, CEO of 4A's had to say about the challenges CMOs of today face being two told. One, the need to speak finance, data and tech and two, ensuring others in the c-suite "get the value of marketing." I would argue the latter challenge is significantly harder than the former. I would also add, and presumably this was implied by Marla, there is of course the third challenge of meeting consumer demands.
➡️ My man Nick Primola of the Association of National Advertisers nailed it when asked about the fact that while some companies are eliminating the title CMO, it doesn't mean these companies are "not necessarily doing less marketing." Of course they're not! At least they better not be. I love this one because every time a CMO role gets eliminated I hear the anti-marketers proclaim: See, we don't need marketing to be its own department or role!" For the love of...
➡️ Adrian Fung, eBay Global CMO referenced the "different definitions and expectations of what a CMO does" and to me therein lies a massive problem. Now he was speaking in the context of global brands, but what he said is applicable to ANY brand because the differences in definition and expectations cause too many problems -- problems that are easily avoided. What I am referring to is the fact that far too many CEOs, CFOs and all others not named CMO, all look at marketing through the same lens. I will say this til I am blue in the face but all CMOs are not the same! The CMO a given brand needs should be aligned with the overall goals of the brand. For example some brands may need a performance CMO where others need a brand CMO and so on.
I will stop here, although I have lots more thoughts on the matter and am more than happy to share with you 😀
Bruce Jeanniey Jeff Monique Digiday Jessica Billee Kyle Bill Doug Doug Lou Remi Seth Gretchen Julie
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Owner, Lord & Cook Ventures, LLC
2wCongratulations Taylor. Big fan of yours and I told you this would be your path some day. You did it.