Do you ever wonder what your CMO is thinking about? What issues and trends are keeping your marketing leader up at night? We know CMOs play a big, powerful role, leading the company’s efforts to win market share, boost revenues and gain profits. The job sounds exciting but the top marketing job in the business is a minefield with the highest turnover in the C-suite.
Talented executives crash and burn unless they look at the CMO role in a bigger picture. CMOs need to have strong beliefs, be an exceptional expert in matters that are important and a visionary obsessed with pragmatic outcomes. Apart from the obvious areas of focus including marketing budgets, ROI, rising responsibilities, the dearth of talent, ever-increasing capability needs and the shift to digital, there are other areas to understand that are critical to success for the CMO. I think these stand out:
- The importance of establishing a passion early
- Dealing with competing in an “always” on era
- Directing the story of the brand
- How to learn from traveling the world
- Enjoying family as a place for creativity at work
- How to determine where people fit on a team
- How to get your people to buy into a larger vision
- How to inspire Millennials
- How do you get your game face on when a marketing campaign tanks.
The customer is changing, which in turn is driving changes to marketing itself, and to the role of the CMO who needs to be remarkable, measurable and distinguished with unique value. Hell has no fury than the second rate. Hold on.
Equifax, a consumer credit reporting agency, has reported a cybersecurity incident that may affect approximately 143 million U.S. customers.
In a statement, the company said “criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017. The company has found no evidence of unauthorized activity on Equifax’s core consumer or commercial credit reporting databases.” Whoopee do
The government of President Xi Jinping approved the merger of Shenhua Group Corp., the country’s top coal miner, with China Guodian Corp., among its largest power generators, the State-owned Assets Supervision and Administration Commission said Monday. With assets of 1.8 trillion yuan ($271 billion), the new entity will be the world’s second-biggest company by revenue and largest by installed capacity, according to Bloomberg New Energy Finance.
Shares of Fiat Chrysler jumped more than 5 percent Wednesday after a report said the Italian-American automaker is considering spinning off some of its upscale brands.
The company may spin off Maserati and Alfa Romeo as Fiat Chrysler seeks to streamline its business, Bloomberg News reported, citing sources close to the parent company. It said the two luxury brands have an estimated combined worth of as much as $8.3 billion. Read more.
After the rat tumbling out of the ceiling shares in the formerly high-flying burrito chain, which has been battling to fully recover sales and trust lost after a string of food safety lapses in 2015, are down.