Kim Whitler of Forbes writes on the blog-chatted question, “Is the CMO Role Dying or Thriving?”
My view is that the CMO is not dying, but rather, molting and morphing. At the recent CMO Exchange conference, “The Evolving Role of the CMO,” Whitler surveyed CMOs on the degree to which their role was changing. The small-sample answers averaged 5.71 (7 represented significant change and 1 represented no change at all). Only 11% answered less than a “5” and 39% were at “7,” believing the CMO role is experiencing a tsunami-like change.
Yankelovich in 2005 reported that 76% of consumers were “not believing that companies tell the truth in advertising,” and were driven by the abundant ways buyers can acquire information and connect with one another to form a basis of trust or mistrust about the seller (brand). So, as Whitler points out, it should come of no surprise that the CMO’s role is changing to meet the challenge of consumer beliefs, behavior, and their instant access to information.