AMP 251: Why Successful CMOs Need to Be Smart Business Strategists With Mark Donnigan

Actionable Marketing Podcast

Chief marketing officers (CMOs) typically only stay with a company for only 24-25 months. That type of turnover at the top level of marketing departments is not good for marketers in leadership roles or with leadership aspirations.

Today’s guest is Mark Donnigan, a marketing consultant. He talks about why CMOs need to think more like business strategists to better connect where marketing fits into the big picture within your organization rather than thinking about marketing as a set of tactics that are separate from what the rest of the business is doing.

Some of the highlights of the show include:

• Why marketing leaders need to understand the business objectives
• Gartner: Average buyer over 50% through buying journey before making contact
• MBA Playbook: Where CMOs go wrong by following a concrete buying cycle
• Solution: Spend time with CEO to connect with company’s strategy and revenue
• Attribution: Avoid ROI issues by shifting from cost center to revenue perspective
• Pitfalls: When marketing leaders focus more on building, not understanding skills
• No Excuses: Marketing leaders need to be business-aware, business-oriented

Links:

• Mark Donnigan - Growth Stage Marketing
• Mark Donnigan on LinkedIn
• Category Design Presentation
• Founders Marketing Playbook Presentation
• Gartner Global Research and Advisory Company
• Play Bigger by Christopher Lochhead
• The Qualified Sales Leader by John McMahon
• HubSpot
• Ben Sailer on LinkedIn
• CoSchedule

Quotes from Mark Donnigan:

“No longer is it sufficient in today’s fragmented buyer journey to just basically build your whole program around a nice funnel.”

“The average B2B buyer was...over 50% of the way through their buying journey before they even contacted the first vendor.”

“You have the marketing tools to execute. There’s no need to go to another marketing seminar, another martech seminar. Instead, spend time with the CEO.”

“To be able to contribute in a sales meeting, you better know about the business.”