Rumors that the CMO role could be extinct were rampant in 2019 when three major brands stepped down without being replaced, but McDonald's brought it back citing a need to "reestablish strong business momentum". It may be due to outdated notions of what CMOs do and misconceptions about their scope, or simply that some of the world's most recognizable brands don't need the same level of marketing.
Marketers and salespeople come from different worlds, with distinct toolsets and skillsets. B2B companies sometimes merge Marketing and Sales, with a chief revenue officer overseeing both. To ensure both teams are working together, they must have a single source of data truth and collaborate, while recognizing the skills needed for each.
CMOs have a chance to demonstrate their value and resilience as the world is transformed, by eliminating waste, communicating clearly and making decisions based on accurate data. This is more important now than ever before.
Economic Uncertainty Is Resurrecting the CMO Role
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