Facebook CEO Mark Zuckerberg’s dog Beast has more than 2.5 million likes on the social network. But what’s the name of your CEO’s dog? Does he or she even have a dog? Or are they more of a cat person? These might appear trivial questions – and they are – but whether you can answer them should shine a light on your relationship with your boss.
For many senior marketers, this relationship isn’t as good as it could be. Recent research from technology and strategy firm Squiz found that just 27% said their marketing team works closely with the CEO, which may explain why more than half also believe board-level management doesn’t understand marketing.
According to Neil Davis, MD, UK and Europe at Squiz – someone who’s been both a B2B marketer and a CEO – the need to form a strong bond is more crucial than ever before when we consider the uncertain business landscape. “We’re going through a period of transition where the relationship between CEO and CMO has to be stronger than ever before. The lines between different departments are becoming more blurred, and the entire exec suite has to be far more integrated.”
"Developing client loyalty and repeat business is constantly on my mind"
CEOs who traditionally haven’t needed to understand the intricacies of marketing now need to adapt to the advance of digitisation. Some brands, says Neil, are bridging this gap with the appointment of chief digital officers (CDOs). But could this pose a threat to the role of the CMO?
“There may well be some marketers out there who have that fear, but I wouldn’t say it’s one that will be realised,” he says. “CEOs had to get their heads around finance, but that didn’t mean the CFO disappeared. There’s still a need for people who can get on and do it on a day-to-day basis.”
So what’s the key to integrated working? First, dispel the myth that you’re battling each other for the CEO’s attention, Neil urges. “Rather than competing for the CEO’s time, it’s about everyone working together more collaboratively. The issues going to the CEO shouldn’t be an IT update, marketing update or finance update, but a business challenges update – and what the different parts of the business are doing to overcome that.”
Spencer Waldron, European regional director at Prezi, highlights the need to look at the bigger picture. “You should have an appreciation of the world outside marketing if you’re the CMO. When you show the mentality of a COO, you have a wider appreciation of what’s going on in the company.”
Sweet dreams are made of this
So what’s keeping CEOs awake at night, and how can marketers help them sleep more easily? As part of its annual CEO survey, which canvassed the opinion of over 1300 business leaders across the globe, PwC identified a number of issues currently weighing heavily on CEO minds. Chief among these was how to deal with an unpredictable future and volatile economy – and this is definitely an area where marketers can offer some support.
“The world of business has been changing very quickly, and is not showing any sign of slowing down (if anything it’s speeding up),” says Neil. “And it’s incredibly difficult to be precise, because we don’t know what technologies will be around in five years’ time – whether people will be using social media, instant messaging or something else. That’s a big concern for CEOs: what are my customers going to be looking for and am I going to be relevant to them as a business?
“Marketers are probably in the best position in the business to help with that, as they’re the closest to the customer. They have some brilliant insights that can start to set the trends around what your customers are looking for.”
Customers are also front of mind for Danny Bluestone, CEO of digital agency Cyber-Duck. “There’s no denying that the digital landscape is incredibly competitive. Developing client loyalty and repeat business is constantly on my mind,” he says. “We must ensure our services remain relevant and compatible through data analysis, project performance and ongoing, supportive communication.” It can be a juggling act, he says, but marketing’s role is to cut through the noise and let the quality of work shine across multiple channels. Danny wants the personalisation and automation efforts of his marketers to engage clients, enable the business to retain its customers, and engender loyalty.
Innovation is another perennial concern for CEOs, who worry their business will be left in the wake of more forward-thinking rivals
The PwC survey raised public trust as another concern for CEOs, with more than half sharing the opinion that lack of trust in their business would damage growth. As the managers of brand reputation, marketers are well placed to alleviate this anxiety, particularly as 87% of CEOs think social media could have a negative impact on trust in their industry. In the simplest way – concentrating on this particular concern – CMOs should explain marketing’s role in monitoring and engaging with social media, and outline what plans are in place if a reputational crisis occurs.
Innovation is another perennial concern for CEOs, who worry their business will be left in the wake of more forward-thinking rivals. But for Michael Lindberg, CEO of business consultancy Lindberg International, it’s something far subtler – neatly encapsulated by a quote from Clayton Christensen, author of The Innovator’s Dilemma – that keeps him awake at night.
“I had the great fortune of meeting Christensen a few years ago and ever since then his ‘wake-up call’ has kept me awake more than I care for, all because of this quote,” he explains. “‘As companies tend to innovate faster than their customers’ needs evolve, most organisations eventually end up producing products or services that are actually too sophisticated, too expensive and too complicated for many customers in their market’. Of course we need to innovate, but how do we find the right balance? I need bright marketing people to help me by providing deep insights about not
what the market wants, but what the market needs.”
If you can give your CEO the support, reassurance and inspiration they’re looking for, you’ll be in the perfect position to drive the relationship forward in the weeks, months and years to come – and who knows? They may even sleep more soundly as a result.
