The First 100 Days - A CEO's Guide to Collaborating with the CMO in PE-Backed Firms

As you step into the CEO role in a private equity-backed firm, the first 100 days are critical. During this time, setting the right tone and direction for the organisation is key.

The relationship between the CEO and CMO centres on driving sustainable growth and maximising value within PE-backed firms. The CMO should be clear on the business needs and shape their strategic vision and marketing execution to support the goals of the CEO. ?

As an experienced CMO, private equity & venture capital advisor, I've witnessed firsthand the pivotal role that collaboration between the CEO and the most senior marketing executive, usually the CMO, plays in driving success.?

Here's a practical guide to navigating those crucial initial days:?

Establish Clear Communication Channels?

Open, transparent communication sets the foundation for a strong CEO-CMO partnership. Schedule regular meetings to discuss strategic priorities, objectives, and expectations. Ensure that both parties have a clear understanding of each other's roles, responsibilities, and goals.?

Align on Vision and Strategy?

Take the time to align the company's vision, mission, and strategic objectives. Work closely with the CMO firstly to understand the current marketing strategy, what’s working and why, and work closely to evolve the plan to ensure the current initiatives will continue to support the overall growth of the organisation, given that you are likely tasked with making some big changes.?

Assess the Marketing Function?

Conducting a thorough assessment of the existing marketing function within your organisation is a foundational step for any new CEO, particularly in the fast-paced environment of a PE-backed firm. This assessment should comprehensively evaluate the team's capabilities, resources, and processes. You’ll need to identify any gaps or areas for improvement and develop a plan to address these collaboratively.?

Partnering with a Fractional Chief Marketing Officer or a marketing advisor becomes particularly valuable if the most experienced member of your marketing team lacks board-level experience. Why consider this strategic partnership:?

• Expertise at Board Level: They are accustomed to operating at a board level, providing not just tactical marketing insights but strategic business value.?
• Cost-Effective Leadership: Hiring a full-time CMO with extensive experience can be cost-prohibitive, especially for PE-backed firms focused on efficient capital deployment.?
• Objective Insights: External advisors can provide unbiased, objective perspectives on your marketing strategy and team performance.??
• Scalability and Flexibility: As your company evolves, so too can your engagement with a Fractional CMO.??
• Rapid Impact: Fractional CMOs can make immediate impacts. They can quickly diagnose issues and implement strategies that drive results.?
• Leadership and Mentorship: A seasoned marketing advisor can also serve as a mentor to your existing marketing team.??

Read CEO's Guide to Assessing Marketing's Performance to find out more.??

Define Key Performance Indicators (KPIs)?

Establish clear, measurable KPIs to track the effectiveness of marketing initiatives. Work with the CMO to identify metrics that align with strategic objectives and provide actionable insights into marketing performance. Regularly review and adjust KPIs as needed to ensure alignment with business goals.?

Empower and Support the CMO?

Provide the CMO with the resources, autonomy, and support needed to succeed in their role. Remember, they are likely having to adjust and adapt to meet the new needs of the business since your arrival. Act as a champion for the marketing function within the organisation, advocating for its importance and value.?

Collaborate on Cross-Functional Initiatives?

Marketing does not operate in isolation; it intersects with various other functions within the organisation. Collaborate with the CMO on cross-functional initiatives that drive alignment and integration across departments.??

Stay Agile and Adaptable?

Agility is key to success. Remain flexible and adaptable in your approach to marketing strategy and execution. Embrace change and be willing to pivot quickly in response to new opportunities or challenges.?

Email me at [email protected] for more information about how I can support your business.