Successful CMOs are skilled leaders. Here’s a “cheat sheet”. After 15 years of digging through research and insights on CMO leadership, I’ve found a few standout pieces (from credible sources and my own work).
I’ll keep adding to this list and hope you find something helpful. Looking for strategy insights? It’s here.
CMO leadership
Leading marketing isn’t the same as doing marketing. Together with Prof. Patrick Barwise and others, I’ve now led the largest-ever studies on CMO success. It wasn’t hard at first—there wasn’t much research when I set out. I’m thrilled to see more insights now. One thing remains the same: most of CMO success isn’t about marketing. It’s about leadership—mobilizing the C-suite, teams, and yourself. The following articles bear this out.
What is Marketing Leadership? Barta, Barwise
Our world’s largest-ever study on CMO success highlights how marketing leadership, rather than just technical skills, drives success (latest version 2024). We discuss the “Value Creation Zone,” where customer needs align with company goals, and emphasizes the importance of marketing leaders in influencing both upwards (CEOs) and sideways (other departments). Our study reveals that leadership skills, such as mobilizing teams and aligning strategies with company objectives, explain 55% of CMO success, far outweighing technical expertise.
Why is collaboration key to CMO success? McKinsey & Company
This 2023 study of my McKinsey colleagues emphasizes that the CMO leadership aspect of collaboration is crucial to a CMO’s success, particularly through strong partnerships across the C-suite. It highlights three types of CMOs: “Unifiers,” who effectively collaborate with peers to drive growth, “Loners,” who focus narrowly on marketing, and “Friends,” who foster limited cross-functional relationships. The study suggests that “Unifiers” are key to achieving business-wide impact, as they align the marketing agenda with broader organizational goals. I wholeheartedly agree.
Marketing Department Power and Firm Performance, Journal o Marketing, Hui Feng et al
This remarkable 2015 study finds that firms with strong marketing departments perform better economically. It examines 612 U.S. public firms from 1993 to 2008 and shows that marketing department power increased during this period, improving both short-term (ROA) and long-term (shareholder returns) performance. The study also highlights that a firm’s ability to build and leverage market-based assets partially mediates this effect, suggesting that strong marketing departments can drive sustained shareholder value. CMO leadership matters.
The Chief Marketing Officer Matters Journal of Marketing, Germann, at al
It seems 2015 was also the year when research finally proved marketing and CMO leadership matter. This study shows the evidence about the CMO’s impact on firm performance. Using data from 155 publicly traded firms over 12 years, the authors find that firms with a CMO at the strategy table experience an average 15% improvement in performance, measured by Tobin’s q, compared to firms without a CMO. This finding is robust across various model specifications, offering compelling evidence that CMOs contribute to financial performance, helping resolve the ongoing debate about the CMO’s value in the C-suite.
State of the CMO
The CMO Survey
Business School Professor Christine Moorman’s annual CMO survey has long been a prime source of CMO inisghts. The CMO Survey gathers insights from marketing leaders to predict market trends, assess marketing performance, and enhance the role of marketing in organizations and society. Established in 2008, it addresses gaps in CMO perspectives, benchmarks, and strategic marketing data. It holds some thoughts on CMO leadership too. The survey is conducted with support from partners like Deloitte and Duke University’s Fuqua School of Business, with results made available to practitioners, educators, and the media for free.
The Third Annual CEO Study on Marketing and the CMO, Boathouse (walled, needs registration)
I don’t usually use studies from marketing consultancies in my research, but I was impressed by Boathouse’s apparent rigor in this CMO leadership study. The 2023 US-focused report reveals shifting CEO perspectives. CEO confidence in CMOs is up, with more CMOs getting “A” grades for innovation and aligning with CEO visions. But concerns about strategy and financial literacy remain. AI is taking off, especially in content creation and analytics, and CEOs are grading CMOs well on their AI efforts. Two insights stood out for me: CEO trust in CMOs is on par with the rest of the C-suite—not “low” (page 40). And in the top 5 problems CEOs want CMOs to solve, the first three are all about “growth” (27). It’s simple.
CMO tenure
How long does the CMO last? Most of the drama in posts and articles and unfounded. CMO tenure, as it stands, is just fine—C-suite average. Huge credit to Spencer Stuart’s Greg Welch, who has long spearheaded the CMO tenure research.
CMO Tenure Study 2024, Spencer Stuart
The Spencer Stuart 2024 CMO Tenure Study shows that the average tenure for Fortune 500 CMOs remains stable at 4.2 years, slightly below the 4.6-year C-suite average. It highlights increased responsibilities for CMOs, with 34% managing roles beyond marketing. Additionally, 50% of CMOs are now women, but there has been a slight decline in racial diversity. The study also notes a rise in internal promotions and first-time CMOs, indicating a focus on CMO leadership development.
The Representation And Tenure Of Fortune 500 CMOs In 2024, Forester
This Forrester blog, too, challenges the common narrative that CMOs have short tenures and declining influence. It also shows that CMO experiences vary widely across industries and business models. While 53% of Fortune 500 CMOs are women, female CMOs typically have shorter tenures than their male counterparts. Additionally, the representation of CMOs differs significantly across sectors, with a 70% variance, and B2B CMOs generally have shorter tenures than B2C CMOs. The blog post links to the full study (for pay).
CMO Tenure Study 2023, Spencer Stuart
The 2023 Spencer Stuart CMO Tenure Study began tracking Fortune 500 CMO tenure, alongside the top 100 U.S. advertisers that had been the focus until then. The average tenure for Fortune 500 CMOs was 4.2 years, slightly below the C-suite average. Women held 47% of these roles, and 14% were from historically underrepresented racial groups. Most CMOs were promoted internally, with nearly one-third being first-timers–again demonstrating that CMO leadership is essential for success. The study als highlights growing trends in internal promotions and diversity among marketing leaders.
Why Short CMO Tenure Is Not Always a Problem, Kim Whitler
Top reseacher Kim Whitler argues in this MIT Sloan article that short CMO tenures are not always a negative indicator. In some cases, they reflect rapid organizational changes, shifts in strategy, or evolving market conditions that demand new CMO leadership. The article suggests that instead of focusing on tenure length, organizations should prioritize aligning CMO skills with current business goals, ensuring a stronger fit between leadership and strategic direction.
Taking on a new CMO role
The CMO Playbook: Getting Off to a Strong Start as a New Chief Marketing Officer, Spencer Stuart
James Citrin and Greg Welch present an 8-point plan for CMOs to ensure a strong start in their roles, focusing on areas like preparing thoroughly before day one, aligning expectations with leadership, shaping the marketing team, and crafting a strategic agenda. Key to success is the CMO leadership to transform the company culture, manage relationships within the C-suite, and communicate effectively. This 2024 guide emphasizes early momentum, securing quick wins, and avoiding common pitfalls like “savior syndrome.”
Set Up to Fail, Sloan, Kim Whitler
My friend and business school professor Kim Whitler, in 2022, explored how poor design of C-suite roles, particularly for CMOs and CIOs, leads to high turnover. She argues that misalignment between job expectations, responsibilities, and required skills is common, contributing to short tenures. Kim recommends a structured approach to job design, ensuring that responsibilities match expectations and required experience. The study emphasizes that well-aligned roles increase clarity and improve the chances of executive success. The message is clear: a key part of CMO leadership is constant alignment with the CEO.
Guide To Evaluating CMO Roles, Nadine Dietz and the MTM Marketing Board
Nadine Dietz, with her experience in top U.S. marketing publications and organizations, helped curate this 2023 CMO leadership piece with the MTM Marketing Board. It suggests that CMOs evaluate new roles based on four factors: personal goals, leadership dynamics, job scope, and company culture. Candidates should assess leadership alignment, marketing budget control, and team capability gaps. The study also highlights the differences between founder-led and CEO-led companies, and advises CMOs to consider how public, private equity, or venture-backed environments affect their role and success.
CMO pay
Chief marketing officer pay: The revenue growth consequences of employing internal and external benchmarks (may be behind paywall now)
This 2024 article by Hui Feng, Kim Whitler, and Mike Wiles explore how Chief Marketing Officer (CMO) pay impacts company revenue growth. It argues that paying CMOs based on external benchmarks, like industry standards, isn’t effective. Instead, internal comparisons—especially with the Chief Financial Officer (CFO)—matter more. When CMOs are paid less than the CFO, it hurts motivation and growth, but paying them more has no significant benefit. The pay gap with the CEO doesn’t seem to affect revenue growth. CMOs with shorter tenure feel the impact of pay differences more than long-term CMOs. External benchmarks, commonly used in practice, don’t drive performance. The study suggests companies should focus on internal pay fairness, particularly between the CMO and CFO, to align CMO motivation with growth.
The CMO-CFO relationship
No relationship is perhaps more crucial for a CMO than the one with the CFO. Yet, many top marketers overlook this connection (and vice versa). From my work with executive teams, two CMO leadership strategies stand out for strengthening this bond. First, open the books—transparency is key. Second, involve the CFO’s team in measuring marketing returns. It’s hard to prove financial impact to a CFO, so why not let them lead the analysis?
4 issues plaguing the CFO-CMO Relationship — and how to solve them, The CFO
(Tip of the hat to Oscar Trimboli). This 2024 article by Brandon Sullivan, CFO of 2X, identifies four key issues in the CFO-CMO relationship: language barriers, difficulty attributing tangible outcomes, different success metrics, and conflicting time horizons. It suggests solutions such as creating a unified set of metrics, predefining success measurements, fostering transparency, and aligning short-term financial constraints with long-term marketing goals. CMO leadership in building better communication and understanding between CFOs and CMOs can significantly improve collaboration and lead to shared success.
A New CFO–CMO Collaboration Paradigm, Bain & Company
This 2023 article by Bain & Company Partner Emanuele Veratti focuses on Italy, though the CMO leadership insights are globally applicable for. It outlines a new CFO-CMO collaboration paradigm aimed at overcoming corporate barriers like data complexity and misaligned KPIs. It emphasizes shared, customer-centric metrics and advanced tools such as machine learning and predictive analytics. The article also advocates for cross-functional governance between finance and marketing to improve financial planning and branding initiatives, ultimately boosting corporate performance.
Why can’t we be friends? Five steps to better relations between CFOs and CMOs
This 2013 McKinsey classic outlines five steps to improve collaboration between CFOs and CMOs, focusing on using data-driven marketing to align business objectives. Key steps include creating transparency in spending, focusing on metrics that matter to both finance and marketing, balancing short- and long-term value creation, exploring cost-saving opportunities, and fostering collaboration between departments. By working together, CMOs and CFOs can unlock significant value and improve marketing’s return on investment.
The route from CMO to CEO
The CEO of the Future: Does Marketing Hold the Key? Spencer Stuart
This 2024 study explores whether marketing leaders can transition into CEO roles, noting that despite common perceptions, they possess valuable skills like customer focus, data mastery, and strategic vision. It highlights key success factors for future CEOs, including defining company purpose, engaging stakeholders, and navigating change (I’d argue these are core CMO leadership skills). While a marketing background offers a strong foundation, the study acknowledges gaps in financial experience and risk management, suggesting marketers seek broader management roles to strengthen their candidacy for CEO positions.
Taking (Clinching) a board role as a CMO
“For the most desirable <board> seats, it is tougher than getting accepted in the New York City Marathon (5%),” writes former CMO and board member Chris Burggraeve. CMOs could add tremendous value to boards—yet they are unlikely candidates. These readings summarize the key strategies to consider for those serious about landing a major board role.
The Ultimate CMO Guide to Scarce Board Seats, Chris Burggraeve (walled, trusted source)
The 2024 book explores how CMOs can secure coveted board seats, emphasizing that these opportunities are rare and highly competitive. It argues that unique CMO leadership skills—like managing intangibles, consumer insights, and brand-building—that add cognitive diversity to boards. However, financial literacy and broader operating experience are necessary for CMOs to break into these roles. The guide encourages CMOs to strategically position themselves for board service and highlights the long-term value they can create by focusing on growth and strategic thinking.
CMOs and the Latest Corporate Board Trends, Spencer Stuart
This US-focused 2024 study highlights that while board seats remain scarce for marketers, their expertise in branding and customer insights is increasingly valued. Boards are seeking directors who can manage brand risks and capitalize on marketing opportunities to drive long-term shareholder value. Marketers aiming for board roles are encouraged to build diverse skills, consider a variety of companies, and demonstrate a strong commitment and passion for board service. This requires strong CMO leadership in their current organizations—and the will to push for a board role.
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