Chief executives and chief marketing officers often don’t see eye-to-eye on precisely what their role directing marketing entails, and in some cases, the disconnect is growing, The Wall Street Journal reports.
CEOs increasingly have been looking toward their companies’ marketing operations as sources of growth in an unsteady economy. They are often certain they understand how modern marketing works, but their CMOs don’t share that confidence.
Nine out of 10 CEOs say that the role marketing plays is clearly defined at their companies, according to a new McKinsey survey that tracks relationships between CEOs and CMOs. But only 22% of marketing chiefs say their jobs are well-defined and understood by other C-suite executives, down from 31% in 2019.
Similarly, 97% of CEOs think their companies meet customers’ needs, yet only 75% of CMOs agree, according to a May survey from Forrester. And 90% of CEOs say their companies’ strategies are driven by customers, while only 58% of CMOs say that is true, Forrester found. Read the full story.
