More CMO's were on the move in the first half of 2016 then in any time since 2012 and most companies are looking outside their walls for this key hire. This is according to executive search firm Russell Reynolds and noted first by Forbes.
Of particular interest, 62% of the hires were from outside the company. In tech, the number was a stunning 86%. So why the sudden jump and why are companies recruiting outsiders?
1) Fresh Strategic Thinking The Digital Marketing Tsunami is taking no prisoners as channels expand, and connecting with your customer is becoming more challenging. Organizations are looking for the best and brightest with a track record of achievement in the digital space.
2) New Skillset MarTech, forecasting, vision, data analysis, personalized messaging, digital value proposition, revenue generation, building the right team..should I keep going? Most important skill: Instinct. When to call an audible.
3) More Is Expected and Less Are Achieving Let's face it, the CMO is the most pivotal position on the Executive Team today. With the rate of change in marketing at an all time high, there isn't time to waste. CMO's must quickly come up to speed and create a plan. Then they need to put their chips down and get moving.
4) Other Brand Are Further Along Digitally Why pick an outsider? The new playing field is being dominated by a new group of organizations that have figured it out. They get Instagram, Snapchat and the messaging platforms, and they are pumping resources into customer experience. They've hired the best data scientists and are calling the right plays for their team.
Let me know what you think. Why else do you believe CMO's on the move? Who is doing it right?
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