Mike Proulx, VP, Research Director
CMOs are entering 2022 feeling positive. After years on the defensive, the pandemic thrust marketing into the spotlight, forcing innovation that won over previously skeptical CEOs. Ninety-two percent of B2C CMOs now believe the CEO fully supports the marketing function. But will the momentum be sustained? Or is this a blip upward in an overall downward trend? VP and Research Director Mike Proulx explains that 2022 will be a tale of two CMOs: those who adapt and shine and those who fall behind.
Marketing has fundamentally changed because consumers demand more from brands. Traditional marketing skill sets no longer cut it in a world where 53% of US online adults will likely boycott a brand if it mistreats its employees. More and more consumers are choosing brands that align with their personal values. Data and technology have become essential. These changes have come fast and furious, rapidly shifting what it means to be a CMO.
In 2022, some CMOs will thrive as they take on new capacities. They’ll take on more customer experience duties, make bold stands on political issues, and work with the chief human resources officer to invest in the employee experience. And if they don’t have the right skills, they’ll learn them.
On the other hand, some CMOs won’t be able to keep up and will get sidelined. They may end up reporting to a chief customer officer (like at Walmart) or seeing their position eliminated altogether (like at Bank of America).
Listen to the full episode to hear how B2C CMOs can thrive in 2022. Plus, Mike Proulx will share an innovation prediction that didn’t make the final report.