Why Companies Are More Focused on Hiring CMOs with Performance-Marketing Backgrounds

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 28 February 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2383, we delve into why companies are more focused on hiring CMOs with performance-marketing backgrounds. We are in the digital age and therefore, most of our marketing happens online. We talk about a survey we conducted on how marketers are handling the allocation of 2023 budgets, why companies want their ads to be profitable, and why having a balance between brand and performance is imperative. Press play to hear us discuss why performance-marketing experience is in demand among CMOs and why everything in marketing can and should be measured! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: Why Companies Are More Focused on Hiring CMOs with Performance-Marketing Backgrounds. [00:49] How the digital age has contributed to companies wanting performance-marketing experience in their CMOs. [01:39] The results of the survey we did on how marketers are allocating their 2023 budgets. [03:19] Why companies want their advertisements to be measured and profitable when they can. [04:10] The importance of having a balance in the understanding of brand and performance. [05:36] Why do you need to keep in mind that everything can be measured when handling marketing? [05:59] That’s it for today! Don’t forget to stay updated with our weekly newsletter at https://www.marketingschool.io/newsletter! [06:13] Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro Stay up to date with our newsletter: https://www.marketingschool.io/newsletter Leave Some Feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with
0:14.0	your instructors Neil Patel and Eric Sue.
0:20.4	Today we are going to talk about why companies are more focused on hiring
0:26.0	CMOs with performance marketing background. So this actually comes from a
0:30.0	it's a Wall Street Journal article but we're seeing it happen more because back in the day when you think about like a Pepsi for example
0:36.8	Pepsi would hire they would hire a lot of these CMOs with brand marketing backgrounds right because a lot of these companies, they're more focused on
0:42.9	brand, but now we're seeing a lot more of these, and I'm just going to kind of read a
0:46.2	couple slides over here, more sentences, they want people that have a performance
0:51.1	marketing background because a lot of stuff is going more digital right and it seems like a pretty duh statement but still in today's day and age it seems like at least at the in the C suite level things are a little behind so I've never seen here's one the quotes from the article, I've never seen such a myopic focus on profitable revenue growth. For the next five or ten years, I can't imagine a marketer that doesn't have strong performance chops making it. That doesn't have strong for the charge.
1:14.0	Okay, so you basically these people are saying that you have to have it.
1:17.0	And here's another one, Form a Destination Excel.
1:19.0	So if we are awesome at Performance Marketing and don't understand what it means to engage a
1:22.7	consumer in reality that means a brand level marketing as well we will lose.
1:27.3	So you used to have a quote on your home page Eric it was related to CEOs it was
1:32.3	what percentage of CEOs believe
1:34.3	CMOs don't focus on ROY or something like that?
1:37.8	So it's 78% of CEOs don't believe that marketers focus on ROI and the tagline was we do.
1:45.0	Yeah and it was funny because we did a survey call it a month or so ago or two months ago I don't know when this
1:52.3	episode comes out, when we interviewed
1:54.8	marketers and how they're going to allocate their budgets for 2023.
1:58.6	We had over 8,000 respondents of marketers.
	...

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