The C-suite is being transformed by digital transformation. If we look at how different marketing functions have evolved, it’s plain to see that a decade ago, there were no Chief Digital Officers and Chief Experience officers. As we gaze to our future, many organisations are focusing on driving growth. This presents the CMO with four possible futures in this new era of digital transformation, according to Shift Thinking and Accenture.
- Up: CMOs will be promoted into new roles with a large focus on end-to-end consumer experience. For example, KFC’s former CMO US was recently promoted to the role of President and Chief Concept Officer, responsible for driving overall strategy and business performance.
- Over: CMOs keep their job titles, but take on new responsibilities such as customer service or e-commerce. Take a look at Airbnb’s CMO, Jonathan Mildenhall, who is seeking to leverage technology to give a whole new meaning to experiential marketing while transforming Airbnb from a tech company to a full-fledged travel brand.
- Down: CMOs lose influence within the organisation with the rise of the new C-suite executives. When the Chief Digital Officer first came on the scene, they reported to the CMO. Now, for several brands including Nike, Morgan Stanley and Tumi, the role has matured to become equal with marketing, taking on their own departments and increased responsibilities.
- Out: CMOs are no longer a part of the organisational structure ( Just like Coca-Cola).
To read more about each possible future, find the full article here.