November 25, 2024
How can CMOs become strong candidates for CEO? Top 10 Tips
What leadership role requires a relentless focus on the consumer or client? An ability to exploit data insights? A blend of communication skills tailored to a range of audiences? A wide knowledge of stakeholder management? The capacity to respond tackling unexpected challenges quickly and effectively?
The chief marketing officer (CMO) ticks all of these boxes.
As we have explored in our previous article, The CEO of the Future: Does Marketing Hold the Key? contrary to popular perception, a career in marketing is a valuable training ground for an aspiring CEO. But at the same time, a CMO with their eye on a future CEO position should strengthen their candidacy by seeking out ways to expand their commercial and P&L knowledge in particular.
That’s because the context in which CEOs operate is becoming fundamentally more complex. It requires a heady mix of traits and skills, experiences and insight, in order to successfully address the sheer range of challenges (and opportunities) that they face on a daily basis.
With this in mind, what advice would CEOs who possess marketing experience offer to the next generation? When thinking about their own career ascent, and thinking ahead to what will be required of CEOs in the future, what are their top tips to marketing leaders who have the potential and ambition to make it to CEO?
Here are some recommendations for marketing leaders who are considering a future move into the top job…
1. You must want it
“The role of CMO is very different from CEO. I see many people who want to become CEO because they want the title, but they do not have a clear idea of what it means. So first, you must be aware of what you get and what you lose.”
Cristina Scocchia
CEO, Illycaffè
2. Gain P&L experience but don’t rush
“Any board that appoints a CEO from a marketing background who's never led P&L is taking a big risk. It's not a nice to have, it's a must. But make sure you spend sufficient time in the CMO role. One of the biggest traps companies have is to give too short tenures to their CMOs. Brand building is a long-term business — it is essential they stay at least three to five years.”
CEO, European crystals and jewellery company
3. Stay curious
“The core quality you have to develop is curiosity because it will drive you to learn all the time. You must accept that you have to go back to school over and over. This is what I do: every day I read something new. For marketing people, the good news is that this is has also been the key requirement for doing their job properly.”
CEO, automotive company
4. Go beyond your job description
“Don’t stop. The first thing is don't stop at the blueprint of your job. Marketing must be at the centre of everything, but you need to be incredibly good at creating synergy and relationships with your colleagues. The best way to do so is understanding their job in order that you can always offer them support and solutions.”
Gianluca Di Tondo
CEO, Barilla Group
5. Make sure you fully understand the business
“Know the business better than anybody; demonstrate that you're not just there to tell stories and create ads. You have got to dive in and do the work to make sure you're really clear on what the different parts of the business do, and marketeers are uniquely able to draw insights out of that.”
Dave Kimbell
CEO, Ulta Beauty
6. Seek discomfort
“Put yourself into situations that are uncomfortable or volatile as it will help you manage ambiguity. Look for experiences and opportunities early or mid stage in your career that are far less set and predictable. Take on some emerging brands in an emerging market, make sure you get that experience and build that into your toolkit early.”
Greg Hughes
President & CEO, Suntory Global Spirits
7. Focus on delivery and accountability
“Make sure you get yourself into a role where you deliver results and accountability is crystal clear. Don't let yourself be sidelined into strategic conceptual roles which look very interesting but lack clear accountability and clear results.”
Jan Derck van Karnebeek
CEO, Friesland Campina
8. Blend operational knowledge with consumer insights
“Marketing gives you the opportunity to understand the consumer, to bring new ideas, to see what the issues are and to articulate solutions to future challenges — which is the key competitive advantage. But you have to have operational experience to do this.”
Federico J. González
CEO, Radisson Hotel Group
9. Embrace data analytics
“The world is being driven by data and a profound understanding of data analytics.
And if the CMO is not in charge, or certainly in full control, of the intrinsic data that drives the organisation, they will sell themselves short.”
Serame Taukobong
CEO, Telkom
10. Maximise your early impact
“It comes down to multiplying diverse experiences and continuously learning from different challenges. Marketing leaders are well connected to other functions in the company and have the responsibility to bring new innovation and lead as operational catalyst — they should make use of this opportunity.”
Jerome Bruhat
CEO, Robertet Group