Challenges
Ultimately, the CMO is responsible for facilitating growth, sales and marketing strategy. He or she must work towards objectives such as revenue generation, cost reduction, or risk mitigation. The unpredictable impact of marketing efforts, coupled with the need to drive profits, often leads to a short tenure for most CMOs. Forbes reported that the average CMO tenure in 2008 was just over 28 months.
Coupled with innovative thinking, the CMO must find practical solutions. Often, CMOs are challenged by the status quo. Deviations without monetary results can be misunderstood as incompetence and misguided thinking.
According to a 2011 IBM global study of 1,734 CMOs around the world, CMOs see customer loyalty as their top priority in the digital area; their second priority is to design experiences for tablets and mobile apps.
Read more about this topic: Chief Marketing Officer
Famous quotes containing the word challenges:
“A powerful idea communicates some of its strength to him who challenges it.”
—Marcel Proust (1871–1922)
“The approval of the public is to be avoided like the plague. It is absolutely essential to keep the public from entering if one wishes to avoid confusion. I must add that the public must be kept panting in expectation at the gate by a system of challenges and provocations.”
—André Breton (1896–1966)