CMO Optimism

Today’s CMO is positioned for great things with the right help

Let’s get down to brass tacks – how often are our days devoured to the bone by the howls of urgent fires and tasks, while precious time for the bigger picture is forgotten? The 34th President of the United States, Dwight D. Eisenhower, recognized this problem and whipped up a little time management matrix as a solve.

Stephen R. Covey would later popularize the idea in his book, The 7 Habits of Highly Effective People. The philosophy is simple – we instinctually focus on things that seem most urgent and important, forcing us into a reactive mode of working. As a result, we leave no time to focus on the things that are important yet not perceived as urgent. These very tasks are too often the efforts and thinking that drive strategy and long-term goals.

When we look at the state of the industry for CMOs, it might be time for them to dust off their copies of The 7 Habits of Highly Effective People. The horizon is looking good for CMOs in 2021, but they’re getting bogged down by short-term analysis and not protecting precious time to focus on their brand’s long-term vision. Here’s a quick look at what we’re seeing.

2021 is certainly poised to be a good year for CMOs. Armed with new perspective coming out of 2020, 91.6% of CMOs feel their brands are prepared to strategically pivot now more than prior to the pandemic. In addition, as many as 62.5% believe their marketing budgets will increase in 2021. The flex point, however, is that 78.5% of CMOs are finding it difficult to keep a step ahead of technological advancements.

CMOs’ roles have expanded beyond the simpler days of strategic development & planning and the oversight of sales & marketing. They’re now tasked with developing company-wide growth strategies – in addition to helping with digital technology selection and expertise in customer engagement tactics. And let’s not forget that with today’s data, CMOs are living by performance metrics, making it all the harder to look beyond day-to-day analytics to see what’s past the horizon.

When it comes to fostering a forward perspective all while meeting the challenges and onslaught of the day-to-day analysis grind, CMOs need to lean on trusted outside resources and partners. And with 66% of CMOs saying it’s unlikely to bring work in-house, the role of the right agency partner is more important than ever – a partner that will push the brand to look at the trends that matter and help identify and act upon efforts to meet consumer demands as they continue to change and evolve.

Unbound is able to provide the outside perspective your brand needs. With over 100 years of brand strategy experience, we know the switches and levers to flip and pull so your business advances forward. We keep our eyes on the changing tides of the industry both from a technology and consumer standpoint. And we’re able to develop plans that target your highest-value customers, identifying precisely where they are and how to talk to them in a way that resonates.

For CMOs, 2021 could play out in a variety of ways. Let’s set up 30 minutes to talk about helping you and your brand make sure 2021 is a big win. Give us a call at 816.589.3333.

Sources: Chief Outsiders, eMarketer