Social purpose: Oxygen for your brand health vitals
If trust is the new currency, then we’re in deep trouble. Here's why.
CMO tenure rises to 45 months
New Spencer Stuart study on chief marketing officers in the US finds average tenure has nearly doubled since 2006
The average tenure of chief marketing officers has increased to 45 months, according to the latest report from executive recruitment and consulting group, Spencer Stuart.
The ninth annual CMO tenure study found CMOs at leading US consumer brand companies rose two months to 45 months last year, nearly double what it was in 2006 when it reached lows of 23.2 months. The tenure of marketing chiefs proved shortest in the healthcare, automotive, restaurant and communications/media sectors, averaging between 28 and 32 months. Those CMOs staying in the longest in one role are in industrial companies and average 111 months – more than five years longer than CMOs overall.
The report also found the average tenure for CMOs of top technology brands is 60 months, and 54 months at leading financial services firms.
Spencer Stuart consultant, Greg Welch, cited several trends helping to keep CMOs in their jobs for longer, including consolidation of roles across several industry sectors, along with a rise in responsibility these individuals have due to added complexity in the marketing function.
“CMOs truly have come of age; the marketing function and its impact today are much more compelling given the emergence of new technologies and ‘modern’ marketing – particularly in the areas of digital, social and mobile,” Welch commented.
“Consequently, it would appear today’s top marketers are, for the first time in recent history, truly enjoying the full impact that the marketing function can have in propelling an enterprise.”
Lead for Spencer Stuart’s Marketing Officer Practice, Tom Seclow, claimed the role of the CMO is becoming an increasing “meaty” and more satisfying one and now often include general management responsibilities.
“As they gain credibility among their C-suite peers and find more challenges in their current role, many CMOs are staying in their positions for longer,” he added.
In contrast, the average CEO tenure has remained consistent across 2011 and 2012 surveys at seven years.
The Spencer Stuart study was based on CMO tenure at the top 100 advertised brands.
More from Spencer Stuart on the role of the CMO: 10 leadership strategies CMOs should be embracing
Follow CMO on Twitter: @CMOAustralia or take part in the CMO Australia conversation on LinkedIn: CMO Australia.
https://bit.ly/2qLgzmR Transform your life a proven digital blueprint
Okitoi Steven
How this banking group tackled a digital marketing transformation
Its great to hear that companies including JCDecaux, oOh!media, Omnicom and Posterscope Australia have all partnered with Seedooh inorder...
Blue Mushroom Infozone Pvt Ltd
Out of home advertising companies strive for greater metrics and transparency
Much ado about nothingAnother fluff piece around what it could possibly do rather than what it is doing
gve
How AMP is using AI to create effortless ‘experiences’
is it true that Consumer expectations are also changing as a result. If we trust someone with our data there is also an expectation that ...
Sunita Madan
Society will decide where digital marketing takes us next: Oracle
This Blog is Very interesting to read and thank you for sharing the valuable information about Machine Learning. The information you prov...
johny blaze
What machine learning has done for the Virgin Velocity program