If the CMO isn’t the deputy CEO, how can you get to growth?

The headline of this article is intentionally thought-provoking, as I’m all for discussing the fundamental value of marketing as a major growth driver. Whether you agree or disagree, after you’ve reading my perspective, I’d genuinely love to hear yours.

The trigger for my bold statement was a recent meeting with the CMO of a $5 billion+ leading organisation in the technology industry. She talked about the CEO’s vision for that global business to be marketing-led. She also spoke about having a seat on the board and their commitment to invest in marketing as a catalyst for growth. For them, marketing is totally synonymous with sales and expansion. The wider business values the expertise of the marketing team, and although internal collaboration isn’t perfect, it is aligned. 

This shouldn’t be the exception to the rule. Yet hearing that marketing investment and resources were being used for shared business goals felt like a breath of fresh air. While this is undoubtedly happening elsewhere in the technology industry, I believe there is still a way to go beyond the standard practice of ring-fencing budget for siloed KPIs. And what really baffles me is why. 

Why is there so much more work to be done in demonstrating that marketing is core to an organisation’s growth strategy and business’ performance? 

In many cases, the CMO’s remit is not what it should be. No longer just the head of marketing, CMOs should be acknowledged and enabled as business strategists, driving growth through customer intelligence and cross-functional collaboration.

As is often the case, short-term thinking and a lack of understanding are stalling changes to the status quo and stopping old opinions from being challenged.

At the heart of it, I think there are a few areas we need to focus on:

The changing buyer journey is a C-level discussion

So many businesses focus their efforts on the small number of buyers who are actively in a buying window. The sales team is pushing them for a decision, so investment and priorities naturally gravitate towards this stage of the buying process. But the reality is that today’s B2B buyer journey (and therefore, the sales cycle) is much longer. They will dip in and out of decision-making, self-guide their own progress, create a shortlist of supplier options early on, and bring in wider stakeholders before reaching an internal consensus. These buyers are only willing to engage on their individual terms, which is tricky to structure and scale. 

To truly have a connected strategy that supports seamless buying experiences takes time and investment. In today’s market, no one wants to invest in activities that won’t start generating a return for 6-12 months. But my concern is for the big brands that don’t invest beyond the short term. If they’re not building a future pipeline with tomorrow’s buyers, there will be plenty of challenger brands ready to snap them up and take market share.

The CMO role needs to evolve beyond marketing

CMOs say making their function a more strategic business partner to the CEO is one of their highest priorities (PWC, 2024). The CMO should be seen as the deputy CEO, with a strategic role that goes way beyond traditional marketing perceptions. They should be involved in shaping the business strategy, driving innovation, and ensuring that the company remains truly customer-first. This requires a complete shift in mindset across the entire C-suite. If the CMO is empowered to make the right decisions, it can positively impact the business and its market position, not just the marketing department. Yet the only way this can happen is if they have a seat and a voice (that’s heard) at the top table. 

Collaboration is key to success

The CMO also cannot work in isolation if they’re going to make a meaningful contribution to shared business goals. They need to work closely with other departments, such as sales, product development, and customer success, to ensure that the company’s strategy is fully aligned. This requires a culture of collaboration and open communication, where everyone is encouraged to share ideas and align to achieve the company’s objectives. The CMO should be seen as the glue here – creating the stickiness that brings teams together and takes the business in one clear direction. This will then empower them to steer the CEO in the right way and drive the strategic business plan. 

However, I believe there are several reasons why this isn’t happening today. 

1. There is often a lack of alignment between the CMO and other C-suite executives. For the CMO to be truly effective in an evolving role, they need the support and endorsement of their peers. This means breaking down silos and fostering a culture of trust and mutual respect. Unfortunately, this is not always the case, leading to fragmented strategies and missed opportunities.
   
   
2. Another major factor is the traditional perception of marketing as a cost centre, rather than a revenue driver. Many organisations still view marketing as a support function, not the strategic partner it should be. In fact, 90% of CEOs think they understand the benefits of marketing, but only 50% of CMOs see the same connection, indicating a potential misalignment (McKinsey, 2024). This outdated mindset limits the CMO’s influence and ability to drive change. It’s a perception that’s still all too common – and is one of the biggest frustrations of marketing leaders. With so many alpha personalities to challenge internally, impostor syndrome can kick in, and marketers end up going with the flow, feeling that they won’t be listened to and need to keep their opinions to themselves.
   
   
3. Then there’s the challenge that comes with the rapid pace of change. CMOs need to stay ahead of the curve, constantly adapting to new tools, platforms, and consumer behaviours. This requires continuous learning and a willingness to experiment, which can be daunting in an environment where short-term results are often prioritised over long-term growth.

If this mindset shift is adopted by C-suite, it could quickly drive a culture of collaboration and communication that really starts to fuel new business growth.

I have been lucky enough to have a few wins in this area over the last few years – working directly with the C-suite within organisations to challenge their perceptions of marketing. Where they haven’t seen the need to have a CMO in place, Revere has been able to perform part of this role for them – and this has only been achievable through education, a strong rationale and a roadmap for change. It might not make them fully marketing-led overnight, but it’s been refreshing to see the shift take place and for the CEO and COO to get on board with this necessary evolution.

As I wrote at the start of this article, I’m always keen to discuss this topic further and would love to understand more about the success stories that help to influence positive change – particularly around perceptions of marketing and the critical CMO role.

Do you agree or disagree with my perspective?