Along with 35 others, I participated in a terrific CMO roundtable hosted by digital agency @Velocidi moderated by @MargaretMolloy in NYC. @JeffreyHayzlett, the recent head of marketing for Kodak and current head of The Hayzlett Group, was our guest speaker for heads of marketing in a variety of B2B and B2C companies. Velocidi is the next generation digital agency leader in NYC with global offices and definitely a company to keep an eye on what’s happening next in the digital marketing space.
The topic of conversation was CMOs – what are the key issues we face and was based on some research Jeff had completed. He had several areas that were important to consider as part of his research and he prompted breakout sessions to validate (or not validate) the research based on our own experiences. In our breakout session, we had 4 takeaways that were mostly business oriented vs. marketing tactic oriented:
- Be accountable to ROI – this was a reaffirmation of the research findings, though there was some side debate about ‘just because something could be measured, doesn’t necessarily mean it needs to get measured’. There was also some side debate about the actual connection to some activity to meaningful results as there is not always a 1 for 1 correlation.
- Be the steward of change and growth – swing for the fence when culturally appropriate. The visual of ‘swing for the fences’ seemed to resonate well with others. Although there was some debate about the degree a company could change, there was no debate that the CMO had to be the steward of the process.
- Have courage in making tough decisions. Whether it be people that work for the team or with the team, this element seemed to be a really important area for those that were responsible for implementing change in the organization.
- Plan for a 3 month to 12 month horizon rather than do an extended planning process. Technology is changing too quickly to plan beyond this time frame. Be prepared to adapt people and processes for this planning horizon – there was a published article in Marketing Week that reaffirmed this view.
It was an excellent conversation. What have you found in your experiences?