A New Seat in the C-Suite
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A New Seat in the C-Suite Why the CMO position is outdated, and the benefits of creating a new role to replace it. Michael Schmidt | Brand + Communications Strategy | VCU Brandcenter 2009
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Why the CMO position is outdated, and the benefits of creating a new role to replace it. A provocative angle on the importance of brand reputation. This is the presentation version; for the article, visit http://issuu.com/schmidtmj/docs/cro_article or my tumblr site.
Transcript of A New Seat in the C-Suite
A New Seat in the C-Suite
Why the CMO position is outdated, and the benefits of creating a new role to replace it.
Michael Schmidt | Brand + Communications Strategy | VCU Brandcenter 2009
Woe be the CMO!
Percentage of CMO’s who rated marketing as “highly influential and strategic” in their company.<10%
Length in months of the average CMO’s tenure.22-28
Marketing budgets’ historical rank among expenditures to be cut during difficult economic times.#1
CMO Council Survey
BRAND
BUSINESS
The Source of the Problem
Corporate structure has led to the compartmentalization, and marginalization, of external decision-making.
A Better Reflection of Reality
Today’s consumer views brands more holistically, forming their opinion based on all the information available.
REPUTATION
Adapted from Marty Neumeier, The Brand Gap
The Other Half of the Equation
Adapted from Robert G. Eccles, Scott C. Newquist, and Roland. Schatz, “Reputation and Its Risks,” Harvard Business Review, February, 2007
=REPUTATION Expectation )( Experience+
Out with the CMO
• Tied to old-school marketing tactics
• Has limited internal influence
• Perceived as disconnected from operations
Responsible for external image
Out with the CMO
• Tied to old-school marketing tactics
• Has limited internal influence
• Perceived as disconnected from operations
In with the CRO
Responsible for external image
• Practices an evolved understanding of branding
• Realigns brand and business decision-making
• Fosters innovation
Responsible for reputation
A Worthy Successor
CRO
As a replacement for the CMO, the Chief Reputation Officer is:
Better aligned with business operations.
Based on a dynamic yet more long-term perspective.
Recognized as essential to a company’s vitality.
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Evaluating Reputation
REPUTATION
Products and Services
Workplace Environment
Vision and Leadership
Social Responsibility
Emotional Appeal
Financial Performance
Adapted from Brønn, C. and P. S. Brønn, “Reputation and organizational efficiency.” Corporate Reputation Review, Spring 2005
Evaluating Reputation
REPUTATION
Products and Services
Workplace Environment
Vision and Leadership
Social Responsibility
Emotional Appeal
Financial Performance
Adapted from Brønn, C. and P. S. Brønn, “Reputation and organizational efficiency.” Corporate Reputation Review, Spring 2005
Evaluating Reputation
REPUTATION
Operations
Customer Service
Human Resources
Corporate Communications
Marketing
Financial Strategic Planning
Defining the Role
The CRO Payoff
$$
•Stronger relationships:
•Formal reestablishment of external perception as a key consideration for businesses.
•Accelerated progression toward future possibilities of branding as it has evolved.
companies & consumers
marketing & operations
clients & agencies
Evolving as Partners
Evaluating ideas based on how they extend to multiple, synchronized media.
Crafting ideas with multiple value streams; consumer, company, planet, etc.
Moving Beyond... In Pursuit of...
Adapted from Adrian Ho, “From the Mind of Zeus Jones”
Evolving as Partners
Evaluating ideas based on how they extend to multiple, synchronized media.
Creating additive, engaging communications.
Crafting ideas with multiple value streams; consumer, company, planet, etc.
Finding new ways to deliver enriching experiences.
Moving Beyond... In Pursuit of...
Adapted from Adrian Ho, “From the Mind of Zeus Jones”
Evolving as Partners
Evaluating ideas based on how they extend to multiple, synchronized media.
Creating additive, engaging communications.
Utilizing new, nontraditional media tactics.
Crafting ideas with multiple value streams; consumer, company, planet, etc.
Finding new ways to deliver enriching experiences.
Developing new revenue opportunities.
Moving Beyond... In Pursuit of...
Adapted from Adrian Ho, “From the Mind of Zeus Jones”
Michael SchmidtBrand + Communications Strategy
Call Schmidty 804-836-5475
MeetSchmidty.tumblr.com
