Your CEO has retired and now your company is wondering what the heck they are supposed to do. There are a lot of possible successors, but which one will make the best one? Well, if you want your company to continue to flourish, you might want to consider the CMO.
What does marketing have to do with running a company?
Actually, a lot more than you might think. To make it clear, let’s just go over what a CMO really does. They advertise your brand and bring you customers, right? And what do they need to know in order to pull off a successful advertising campaign? Pretty much every single thing about your customers. Whether it is studying the results of their latest digital marketing efforts, inspecting which direct mailers got the best response, or memorizing your social media marketing analytics, there is nobody in your company who knows your buyer persona better than your CMO.
- The CMO identifies which words work for your copywriting, and which ones are a waste of space.
- The CMO understands what call of action persuades people to buy.
- The CMO discerns what times of day are the most profitable for your website, and the average dollar amount spent per customer.
- The CMO knows what industries your visitors are from and what city they live in.
- The CMO comprehends the importance of digital marketing in today’s mobile-centric world, and they are not afraid to use the technology needed to capitalize on this growing trend.
- The CMO realizes that a strong social media presence is crucial, even if it doesn’t translate to immediate sales.
Like we said, the CMO is a vat of statistics and insight, and they can do amazing things for your bottom line.
But there’s more to running a company than just marketing.
That is true: There’s the sales team, and the finance folks, and let’s not forget the IT department. Well, guess what—the CMO has had a hand in each of these areas since the very beginning:
- Sales Team – With the knowledge the CMO possesses about your customers, they are able to hand feed the sales team extremely qualified leads.
- Finance Folks – After analyzing years of digital marketing techniques, the CMO has a clear grasp on what promotions evoke a response from your potential clients. Not to mention, the CMO can clearly show the finance department that their efforts are actually a revenue builder and not an expense.
- IT Department – CMOs have an active involvement in the software and tools they need to automate the digital marketing process, improve their offline efforts, and to study the analytics down to the very last detail.
So whom should you hire to be your next CEO? You want someone who understands your customer, knows how to collect data, and can then transform that data into more money in your pocket. And, as you can see, there is nobody more qualified to do that than your CMO.