Chief Marketing or Chief Growth Officer
There is an interesting trend in many companies to change the titles in the management teams. It started, as always, at the start-ups in Silicon Valley. Their new business models also required new ways of driving the business. Sales and marketing was often referred to as Customer acquisition or simply Growth. This is excellent, the purpose of marketing and sales is to achieve growth.
This concept is spreading to some of the global enterprise giants that are adapting the same trend. The latest example is The Coca-Cola Company, that recently appointed a Chief Growth Officer, to replace the former CMO. They also changed the title and responsibilities in the product development team, going from having a Vice President R&D to Chief Innovation Officer.
Changes like this are not only cosmetic, they represent a new way of driving the business. Or at least, they should. From a marketing perspective, these changes will finally remove the old silos and walls between marketing and sales. This is the same process, which has become even more obvious for the latest decade or so, with the new generation of marketing. The old difference between marketing and sales is no longer relevant in B2C industries. Although different disciplines, marketing and sales are about growth and revenue and they must work together in one, end-to-end process.
Although the change of titles is an important symbol, the challenge of changing the ways of working and attitudes still remains. And to actually get started on this new way of working, there is need for new supporting platforms. There is, for example, a fundamental need to gain a holistic view on all the different activities that the growth teams are working with, everything from social media, retargeting, off-line campaigns and in-store and sales activities. This also goes for both the long term branding activities as well as short term sales activities.
This might seem like a simple task, but most of these new growth teams will still struggle with old-school spreadsheets, where each individual in the marketing team will plan the individual activities. Same thing with financial control, which is very complex in marketing. Most marketing teams are still trying to figure out how to manage this. Wasting their time, cost and efforts. There are not many marketers that has chosen this profession to get sucked into administration, rather than doing great marketing.
At Musqot, we think they should focus on doing great marketing. The administration parts can and must be automated as much as possible, both for efficiency and for the quality reasons.
These new shake-ups of traditional organizations are great! They offer an opportunity to take the next steps working smarter. And a great opportunity to reduce all the waste in the old processes, enabling the teams to focus on what they are hired to do – making amazing marketing and sales that drives growth.