CMO's Cheat Codes

Like me, upon entering B-school, most marketers aspire to become a CMO of a reputed firm someday. However, the journey doesn't end there. But the reality is everyone can't reach out to that position & eventually end their career becoming a manager. Heartbreaking isn't it? Why does it happen? Most people strive enough to reach there. But unfortunately, only a few of them ultimately taste the success.

What do the winners do differently to achieve their goals? And the million dollar question is, Are there any cheat codes? Let's delve into this matter & search for the clues.

Let's closely observe a few journeys:

I don't have a huge infrastructure for conducting large-scale research, therefore, I decided to keep my sample size as small as 20 for observing different external parameters of the CMOs at the reputed brands. I selected CMOs based on their brand valuation and customer sentiment. According to surveys by globally recognized marketing research agencies, these brands are the most sought-after brands in India and most marketers want to be a part of these brands.

Before we move forward in our discussion, if you are a brand enthusiast, you may find it interesting to read KANTAR's Most Valuable Global Brand Report for 2023. Now slowly coming back to the observations & findings -

Industry Experts or Subject Experts:

Nowadays, many candidates are being rejected by ATS or HRs even before the interview due to their lack of industry exposure. On the other hand, companies are searching high and low for creative thinkers who can think Outside the Box. Irony or oxymoron? Jokes apart, even after a lifetime in the same industry, there's always room for a fresh perspective.

Is it necessary to come from the same industry in order to succeed or excel? Should great subject knowledge, skills, and experience in the field of Marketing be the deciding factor? As time passes, our careers usually provide us with more opportunities to develop skills and gain experience. This ongoing growth can lead to a more fulfilling professional life. However, the term Subject Knowledge or Subject Expert has a deeper meaning in the context of this article. Let's ponder upon it for a greater understanding.

Jack of all trades master of none:

Presently, mastering any subject is greatly desirable. But not knowing or having negligible knowledge apart from domain or subject can't help achieve a bigger goal. My observation helped me understand that most successful marketers work in different marketing domains to upgrade themselves. An explanation would probably be helpful in this context.

Assuming an SEO or telemarketing expert with 15 years of industry experience has mastered their respective subject and now aims to take on a bigger challenge (CMO/Head/VP/Director etc). Perhaps the candidate will face challenges securing the position as the employer desires someone with a broader perspective due to the grandeur of the position. The person at the helm of the pyramid needs to have a vast array of knowledge to really run the show like a leader!

King can be a beggar overnight:

However, this observation hasn't come from recent research on marketing leaders. Some uncontrollable external factors like COVID-19 forced plethoras of the event (physical) marketing professionals to quit their domain & probably lucrative pay cheques to restart their professional careers once again. Similarly the sudden ban on the Chinese Apps in India unemployed many TikTok marketing specialists. The point is that subject matter experts can struggle if the subject itself becomes irrelevant tomorrow.

In DILEMA????? CONFUSED??? Are CMOs MASTER OF ALL TRADES?

My observations have revealed that CMOs are truly masters of multiple trades. Some of the core and common traits that have been observed in marketing leaders are -

• Sales/Business Development
• Brand Management
• Integrated Marketing (+) Communication (Internal too)
• Media Relationship, Planning, Buying & Understanding the entire digital & traditional media ecosystem
• Market(ing) Research & love for data
• They understand consumer behaviour better than the colour of their own phone cover
• A great supporter of Innovation
• Forecasting Winning Strategy
• P&L Management

I am confident that marketing leaders possess several other essential skills, aside from those mentioned above. For example-

1. Fostering strong team dynamics
2. Stakeholder management
3. Eveready to learning for self-development
4. And much more

However, in some roles or organizations, you have the chance to really shine and take on a leadership role by using your specific expertise in a particular subject or industry.

Finally, to become a leader one should be able to see things from a bird's eye lens. Focusing on completing the whole pie is probably a better idea than just decorating a single slice of it.

The Cheat Code: Take Wise Decisions to Avoid Vulnerable Future