CMOs should be on board: NRMA CEO

'We can only create efficiencies and productivities and M&A for so long,' says Tony Stuart

The men behind the NRMA Jumpstart accelerator. From left to right: NRMA GM corporate strategy, Michael Pastega; Slingshot co-founders Craig Lambert and Trent Bagnall; and NRMA Group CEO Tony Stuart. Credit: NRMA
The men behind the NRMA Jumpstart accelerator. From left to right: NRMA GM corporate strategy, Michael Pastega; Slingshot co-founders Craig Lambert and Trent Bagnall; and NRMA Group CEO Tony Stuart. Credit: NRMA

Every listed company should have a marketer on their board supporting the CEO, according to Tony Stuart, CEO of the National Roads and Motorists' Association (NRMA).

“One of the sad things in Australia right now is that there are not enough ex-CMOs on listed company boards,” Stuart told CMO Australia at a Sydney launch event for the NRMA startup accelerator, Jumpstart.

“We have too much around compliance and governance and not enough around revenue generation. Good CMOs are ultimately looking to generate incremental revenue for a company, which is the lifeblood of a company.

“We can only create efficiencies and productivities and M&A for so long.”

Stuart comes from a creative marketing background and carries that interest into his job as chief executive.

“I’m a chief marketing officer dressed up as a CEO,” he said. “There are not many of us, because most [CEOS] come from engineering, investment banking [or] finance backgrounds, and usually the marketing guys get beaten up on the way through as the spenders, or too creative to run a company.”

Related: Marketers need to work harder at talking the boardroom talk: Report
How CMOs make themselves invaluable to the CEO
5 reasons why the CMO will become the CEO

NRMA’s Jumpstart, a 12-week program offering $30,000 and a workspace to each successful startup applicant, is intended to bring innovative new services to NRMA members, but Stuart said there is a marketing aspect to this as well.

He said the program will look to invest in startups that can address three major objectives of marketers: To attract customers, retain existing ones and generate revenue through cross-selling. “Accelerator programs are ideal for those three things.”

Related: Brands need to seek startup soul mates
Starups partner with brands to innovate mobile marketing

Stuart indicated that the Jumpstart program will help NRMA reinvent its 94-year-old brand for the 21st century. The business is also spying a possible expansion of its roadside assistance program for the modern age.

“We are seriously looking at emergency computing assistance,” Stuart said. “Over time we should recruit digital technicians who are this century’s version of roadside patrols.”

Stuart believes NRMA is well placed to enter that space as a trusted neutral brand.

“When a computer breaks down at ten ‘o clock at night, and a child’s doing HSC [and] mum and dad are out, who do you ring?” asked Stuart. “Not Ghostbusters. Ring NRMA.”

Pictured: The men behind the NRMA Jumpstart accelerator. From left to right: NRMA GM corporate strategy, Michael Pastega; Slingshot co-founders Craig Lambert and Trent Bagnall; and NRMA Group CEO Tony Stuart. Credit: NRMA

Adam Bender covers digital marketing and emerging technology for CMO and is the author of dystopian sci-fi novels We, The Watched and Divided We Fall. Follow him on Twitter: @WatchAdam

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

who wants to date me I am 9 years old and i am a boy

Jeremy Hawkins

Sink a sub gaming experience signals Subway's renewed brand push

Read more

Great read. I agree that it should be a perfect balance between interacting with your customers and knowing your brand. As a business, yo...

Caroline Scott

7 ways CMOs can improve their customer engagement game

Read more

Very true. Team development helps improve collaboration among the team members. I was able to improve my team's collaboration skills by t...

Quent Sinder

Why empowering others can help make you a great leader

Read more

CRM is a very good software that can help you succeed in your business. In my company, this system has allowed me to improve customer rel...

Anna Janicka

Sensis rebrands to Thryv and brings business software to Australian SMBs

Read more

AI Leasing Assistants have finally arrived for the multifamily industry. With so many to choose from it can be hard to figure out which i...

Alice Labs Pte. Ltd.

CMO's top 8 martech stories for the week - 6 May 2021

Read more

Blog Posts

Unboxing 101 - How savvy influencer engagement can build a brand

The humble unboxing video is a powerful tool. Correctly executed, it harnesses consumer fandom, viral authenticity and brand design magic to deliver a high-impact message to a tightly targeted cohort of consumers.

Gali Arnon

Chief marketing officer, Fiverr

​Power to the people

Purpose is the ultimate statement of intent for many organisations. Why are we here? What are we trying to achieve?

Rich Curtis

CEO, FutureBrand A/NZ

The playbook to develop strategic brand moats

Warren Buffet is an unlikely ally for marketers. But his belief businesses need strategic moats that increase their value in the market while acting as barriers to competitors can offer marketers a new playbook for brand building and driving growth.

Fabian Di Marco

Founder and managing director, Tzu & Co

Sign in