A New Seat in the C-Suite

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Why the CMO position is outdated, and the benefits of creating a new role to replace it. A provocative angle on the importance of brand reputation. This is the presentation version; for the article, visit http://issuu.com/schmidtmj/docs/cro_article or my tumblr site.

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A New Seat in the C-Suite

  1. 1. A New Seat in the C-Suite Why the CMO position is outdated, and the benefits of creating a new role to replace it. Michael Schmidt | Brand + Communications Strategy | VCU Brandcenter 2009
  2. 2. Woe be the CMO! <10% Percentage of CMO’s who rated marketing as “highly influential and strategic” in their company. 22-28 Length in months of the average CMO’s tenure. #1 Marketing budgets’ historical rank among expenditures to be cut during difficult economic times. CMO Council Survey
  3. 3. The Source of the Problem BRAND BUSINESS Corporate structure has led to the compartmentalization, and marginalization, of external decision-making.
  4. 4. A Better Reflection of Reality Today’s consumer views brands more holistically, forming their opinion based on all the information available. REPUTATION Adapted from Marty Neumeier, The Brand Gap
  5. 5. The Other Half of the Equation REPUTATION = ( Expectation + Experience ) Adapted from Robert G. Eccles, Scott C. Newquist, and Roland. Schatz, “Reputation and Its Risks,” Harvard Business Review, February, 2007
  6. 6. Out with the CMO Responsible for external image • Tied to old-school marketing tactics • Has limited internal influence • Perceived as disconnected from operations
  7. 7. Out with the CMO In with the CRO Responsible for external image Responsible for reputation • Tied to old-school marketing tactics • Practices an evolved understanding of branding • Has limited internal influence • Realigns brand and business decision-making • Perceived as disconnected from • Fosters innovation operations
  8. 8. A Worthy As a replacement for the CMO, Successor the Chief Reputation Officer is: 1. Better aligned with business operations. C RO 2. Based on a dynamic yet more long-term perspective. 3. Recognized as essential to a company’s vitality.
  9. 9. Evaluating Reputation Financial Performance Products and Services Emotional Appeal REPUTATION Workplace Environment Social Vision and Responsibility Leadership Adapted from Brønn, C. and P S. Brønn, “Reputation and organizational efficiency.” . Corporate Reputation Review, Spring 2005
  10. 10. Evaluating Reputation Financial Performance Products and Services Emotional Appeal REPUTATION Workplace Environment Social Vision and Responsibility Leadership Adapted from Brønn, C. and P S. Brønn, “Reputation and organizational efficiency.” . Corporate Reputation Review, Spring 2005
  11. 11. Evaluating Reputation Defining the Role Financial Strategic Operations Planning Marketing REPUTATION Customer Service Corporate Human Communications Resources
  12. 12. The CRO Payoff •Stronger relationships: marketing & operations companies & consumers clients & agencies •Formal reestablishment of external perception as a key consideration for businesses. •Accelerated progression toward future possibilities of branding $ as it has evolved.
  13. 13. Evolving as Partners Moving Beyond... In Pursuit of... Evaluating ideas based on Crafting ideas with multiple how they extend to multiple, value streams; consumer, synchronized media. company, planet, etc. Adapted from Adrian Ho, “From the Mind of Zeus Jones”
  14. 14. Evolving as Partners Moving Beyond... In Pursuit of... Evaluating ideas based on Crafting ideas with multiple how they extend to multiple, value streams; consumer, synchronized media. company, planet, etc. Creating additive, engaging Finding new ways to deliver communications. enriching experiences. Adapted from Adrian Ho, “From the Mind of Zeus Jones”
  15. 15. Evolving as Partners Moving Beyond... In Pursuit of... Evaluating ideas based on Crafting ideas with multiple how they extend to multiple, value streams; consumer, synchronized media. company, planet, etc. Creating additive, engaging Finding new ways to deliver communications. enriching experiences. Utilizing new, nontraditional Developing new revenue media tactics. opportunities. Adapted from Adrian Ho, “From the Mind of Zeus Jones”
  16. 16. Michael Schmidt Brand + Communications Strategy Call Schmidty 804-836-5475 HeySchmidty@gmail.com MeetSchmidty.tumblr.com

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