Surprise Exits & Silver Linings: CMOs Reflect on '23, Optimistic for '24

It's been a YEAR, y'all. And amidst the challenges, revenue re-forecasts and "surprise exits", silver linings still abound.

At the last CMO Coffee Talk of 2023, CMOs reflected on the year past, shared expectations and goals for 2024, along with plenty of gratitude and appreciation for opportunities past, present and future.

Below are chat highlights from both sessions. Sorry, we never record these, so the Ugly Sweater Contest contestants and winners aren't shown.

If you are a B2B CMO or head of marketing and want to join a community of 2,800+ of your peers, let me know or click here to learn more and sign up.

My favorite new quote… “The front window is much larger than the rearview mirror”

Ups and downs but never boring!

I am ready to turn the page on a new year.

The “reforecast”

we did a replan halfway through the year and still didn't hit that

Our problems aren't so special...

Do folks read KelBlog?? He had a great post this morning on setting Sales Quotas and how 80% of 100% is BS.

Main thing we saw was a lot of No Decisions from the SQLs we generated. Lot of people kicking the can down the road. We segmented all the No Decisions and are remarketing to them to hopefully get them back into the funnel when demand picks up.

Part of the 2023 problem was all the funding rounds in 2021 and 2022.? That’s what caused the pain for us.

We, too, lost mostly to "No Decision." I hate that competitor ... they don't play fair.

If the fed drops interest rates will be more VC and P/E investments as there’s lots of dry powder in the market...

Important to remain flexible in this economy and the future

Unofficially the US economy does look like 2024 will exit a 'soft landing'

Worst year ever for me.? Still searching for my next gig, but grateful for this group.? I have learned so much from you all.

for those of you looking (was there myself recently), I highly recommend the book, Never Search Alone by Phyl Terry. It comes with job search communities and tools, that are free.

I was at an investor conference this week in NYC and there's very strong feeling around the economy's soft landing and improvement

There is so much macro economic uncertainty, elections coming will also introduce angst in the markets. I think 2024 will continue to be tough, if not a little tougher. Towards the end of the year maybe we will hit an upward trajectory. Whats for sure is what goes down will come up:)

I’m hearing from VCs that 2024 will be better, but some part of me thinks that they are just trying to be optimistic.

We were integrating 5 companies during this year with all the "no decisions" and customer delays. It has been a brutal year for sure.

Where did you guys cut back marketing spend this year to cut budgets? Where did you invest more? Did you cut headcount :( Did you cut advertising? Did you actually invest more in marketing automation? Just really curious]

good topic to maybe discuss who is cutting what where.. we reduced more headcount to protect more of the programs $$. Ended content syndication, removed a handful of events, reduced costs of partner activities that had low ROI, merged customer marketing into core marketing for systematic nurture of customers for expansion like we nurture new logo, and more

My evolution - more team and individual mentoring, less answering questions, command and control

I wake up in the morning and write down 10 things minimum for which I am grateful

Start meditating at night, that way your brain is not sidetracked with your to do's for the day. I'm more than happy to give you 90 days free access to Peloton, they have countless meditation classes from 5 minutes up.

my resolution:? be nicer to myself and quiet down my internal dark passenger

I try to maintain a gratitude journal. But I also have a “shit my kids say” journal which is fun to go back to every now and then

3.5 years ago I Started swimming again, swim 3-4 days a week and meditate in the pool as I swim, problem solve or work issues as I swim

Wonderful book: “The Go-giver” bought for my daughters also

In 2024 I'm looking to:

Continue to habitualize my work outs and connection time with my family.

Consistently read w/ my boys each night

Introduce meditation into my morning/evening routine

Figure out what is it that I "really" want to do. Look into multiple sources of income.

Upscale certain areas of my marketing skill set

My resolution for the first time in 40 years is to not have a resolution

Daily walk for me is so important - no matter what the weather! Calm app is great too. Another interested book suggestion: The Subtle Art of Not Given a F*ck was a good read that makes you think

one thing I try to remember:? My anxiety does not change the future.

I’ve been reading “Get Out of My head” by M. Andrew McConnell… another good read (IMO so far) for finding ways to be more focused, productive, and less stressed.

Book recos: 1.) From Strength to Strength (Arthur C. Brooks), 2.) Hidden Potential (Adam Grant)

+1 on the daily walk. I have -- but haven't yet read -- Jenny Odell's "How To Do Nothing: Resisting The Attention Economy"

I read something recently that said, worrying about something puts yourself through it twice

Here is the CMO Coffee Talk book list that Mimi started: https://www.amazon.com/hz/wishlist/ls/O0KXSQD97?ref_=list_d_wl_lfu_nav_2

Also going for a walk in the woods is supposed to be just as good if not better than meditation. Interestingly enough, it's best if you walk by yourself so you can hear nature and truly disconnect. For those with dogs, it's a win-win

My 5 year old says “I’m feeling loved out” instead of left out and I hope it never changes!

Collaborative Gain’s Never Search Alone from Phil Terry is a great group for those looking for their next career opportunity.

Can I just say that Michelle Poler session (Hello Fears book author) was great this year.? Can’t count how many times I have said “What’s the best that could happen?” since that session.

Another thing someone said was “What is the person you’re talking to afraid of?”

Change IS the new normal

One day at a time. Sometimes one minute at a time.

Completely agree on timing. Ekert Tole books Power of Now and A New Earth - I had for years - but just recently finished and WOW!

Was at a conference last week and in a CMO only talk, when asked "who has imposter syndrome" nearly (or all) hands went up...

I started 2023 in the worst culture you can imagine (many lessons leaned) and I’m ending the year as an operating partner for a PE firm working for 3 portfolio companies with great people and? doing work I love. It’s been a year!!

There are no bad teams, just bad leaders… according to Extreme Ownership book

Good times don’t teach!

Good people attract good people

Community can be therapeutic and cathartic, and this one certainly is

Friday is the best coaching investment I could make. 2023 has been unexpectedly brutal for so many — dashing our expectations which makes it worse. So grateful of everyone here!

I want to throw out there that last week I was at the Gartner IT conference in Las Vegas. This was by far the most successful in-person event I’ve been involved in since pre-pandemic. We blew away our event goals. Events are back!! “Damn it Gartner”

Thanks y’all. I gotta say without this crew being my only coworkers, I’d be pretty sad and lonely. So thank you all for being my colleagues when I don’t have any others.

+1 to all this. This community is my link to sanity!

This community has given many of us the courage to make difficult decisions to say NO!

Agree 100%!! This group has been my grounding, education, and safe place - look forward to this call every week.

Tumultuous year for me too and this group has been a rock. Appreciate all the vulnerability.

Totally agree. Its all about the people.

Having context, ie, something to compare my successes and frustrations against has been invaluable

New here, but has been toughest year for me professionally in more than 20 years. Surprise exit for me too. I can relate. Thanks for being welcoming!

Awesome shares today! Thank you!? I echo all of these sentiments. It’s all about the people and this community is THE BEST! I appreciate you all and Matt and Lat for bringing us together. I’ve learned so much and hold you all deeply close to me.

I like the “surprise exit” term - I am on for a re-org transition through the end of Q1, but was also informed of a surprise exit in October. It just never ends these days.

Tough year for me too. I’ve been looking for a new role this entire year and it’s been a dumpster fire. I am also so thankful for this giving community.

We need to do more things that scare us.

I’m also grateful to all the lovely ladies in the marketers in #menopause group who are so open, authentic, and supportive. No, you’re NOT crazy.

Have CMO/Head-of-Marketing/VPMarketing jobs have always been hard? Or have they gotten harder? I think our jobs have gotten HARDER.

If the biggest risk to a CMO’s career is the founder/CEO, it makes sense to diversify that risk and work for several founder/CEOs!

You belong here!? none of it have it all figured out

Yesterday, my most junior marketer told me in a 1:1 that happened directly after a long tense meeting, “It’s going to be OK. You’re gonna get through this. We’re so glad you’re here.” It was the greatest gift I could receive.

Things are hard and it’s important to take the little wins. And use humor to deflect the chaos.

Love when lower level employees show empathy for their leaders. It is so often overlooked.

Super grateful for this group. It’s been a tough year and I’m still in it, but I’m hopeful for 2024. Wishing you all a very happy and healthy holiday and new year! #Go2024? Have to jump off. TY!!

It'll get better I promise

https://chat.openai.com/g/g-nElKYtSTm-snarky-cmo

2024 will be the year where marketers will be working a lot more on their own brand, which I’m happy to see!

Reframing is a superpower I’m perpetually working to develop

Thanks. I believe that my responsibility as a leader extends past an employment agreement!

Super grateful for this community and for Kimberly.? Hope everyone has a very happy holiday season.

Happy holidays to everyone! SO grateful for this community! You all are the best!!!

I’m so thankful for this bananas group of people.

Thank you all for our candid discussions and support for each other! Happy Holidays! I look forward to seeing you all i 2024...and cheers to a better year ahead

So thankful for this group of genuine people who care so much for each other.