AMP 251: Why Successful CMOs Need to Be Smart Business Strategists With Mark Donnigan
Actionable Marketing Podcast
English - September 07, 2021 10:00 - 55 minutes - 51.3 MB - ★★★★★ - 118 ratingsBusiness Technology business marketing entrepreneur leadership entrepreneurs entrepreneurship finance health income fire Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Chief marketing officers (CMOs) typically only stay with a company for only 24-25 months. That type of turnover at the top level of marketing departments is not good for marketers in leadership roles or with leadership aspirations.
Today’s guest is Mark Donnigan, a marketing consultant. He talks about why CMOs need to think more like business strategists to better connect where marketing fits into the big picture within your organization rather than thinking about marketing as a set of tactics that are separate from what the rest of the business is doing.
Some of the highlights of the show include:
Why marketing leaders need to understand the business objectives Gartner: Average buyer over 50% through buying journey before making contact MBA Playbook: Where CMOs go wrong by following a concrete buying cycle Solution: Spend time with CEO to connect with company’s strategy and revenue Attribution: Avoid ROI issues by shifting from cost center to revenue perspective Pitfalls: When marketing leaders focus more on building, not understanding skills No Excuses: Marketing leaders need to be business-aware, business-oriented
Links:
Mark Donnigan - Growth Stage Marketing Mark Donnigan on LinkedIn Category Design Presentation Founders Marketing Playbook Presentation Gartner Global Research and Advisory Company Play Bigger by Christopher Lochhead The Qualified Sales Leader by John McMahon HubSpot Ben Sailer on LinkedIn CoSchedule
Quotes from Mark Donnigan:
“No longer is it sufficient in today’s fragmented buyer journey to just basically build your whole program around a nice funnel.”
“The average B2B buyer was...over 50% of the way through their buying journey before they even contacted the first vendor.”
“You have the marketing tools to execute. There’s no need to go to another marketing seminar, another martech seminar. Instead, spend time with the CEO.”
“To be able to contribute in a sales meeting, you better know about the business.”