Building off of this thought-provoking article from McKinsey on “Modern Marketing,” I zeroed in on the CMO part. Former Uber and Beam CMO Rebeca Messina offered her thoughts on these three essentials areas for CMOs to keep in mind as they build a modern marketing organization. I completely agree. Some CMOs may find achieving this challenging to plan out, achieve and manage. We can help.
Here is Rebecca Messina on the three focus areas for CMOs: Strategy & Insights, Talent Management, and, Data and Technology:
The capability focus for each CMO will differ by business and/or industry. That said, there are three critical capabilities that I believe should transcend industry and be a focal point for CMOs to become modern marketers:
- Strategy and insights. Strategic direction and insights are the fuel the team needs. They provide partners, agencies, and internal cross-functional teams with the clarity they need to do their best, most differentiated work. If they are weak or not aligned with business strategy, the teams will burn resources in changing direction often.
- Talent management. As leaders, we must create the conditions for others to thrive and ensure that our teams are well selected, motivated, rewarded, and developed. That will help us put the best teams in place and empower them to do their best work every day.
- Data and technology. Whether your team is best in its class or at the start of its journey, you have to stay sharp about data and technology. Playing catch-up here is very hard.