But simply appointing a CMO isn’t enough. “Pull the CMO back to the center, have them align with the CFO, and get everyone moving in the same direction,” McKinsey recommends. Without clear ownership and support, even the most talented CMO can’t deliver their full potential.
One challenge: CMOs often struggle to clearly communicate the value and costs of marketing to their finance counterparts. The most successful marketing organizations use sophisticated systems and agreed-upon KPIs to demonstrate the financial impact of their investments, McKinsey finds. This data-driven approach helps get CFOs on board.
As McKinsey puts it, for growth strategies to succeed, C-suite leaders must truly view marketing as a strategic function.
Have a good weekend. See you on Monday.
