Chief Marketing Officer (CMO) Innovation
Chief Marketing Officer (CMO) and the word Innovation in the same sentence, may sound redundant, yet even the most creative minds in the building can need a reminder to think strategically at times as well.
The client C-suite team felt the regional CMO’s could expand the reach of the organization by being more “in-tune” with the strategic objectives of the company. This project was presented to us as a “learning event” yet over time it took on a wider scope with meeting interventions, idea generation sessions, and facilitated “thinking” groups.
The client is a multi-national insurer, wealth management and financial advisor with a significantly diverse and geographically leadership team and customer base.
Help the CMOs think about marketing initiative “manifestation” through the filters of culture, demographic, generation and product mix. The teams had varied levels of agendas and with some steadfast old school vs. new wave thinkers in the group, we needed to use “conflict” as a positive influence on the process.
We designed a sub-set to the CMO team that spanned a wider cross-functional gap, thus pairing CMOs that had never collaborated. The first sessions were structured to “educate” each of them on the others region. Then, we created a strategically aligned marketing plan with definitions, goals and risks & assumptions. Once this data collection process was complete we litmus tested it all within a SWOT analysis exercise. The results between the “cross-functional” groups varied widely from the “old-school” groups and illuminated without any doubt that more diversity and transparency was needed to generate the results the firm needed from the marketing effort. Through this analysis we were able to guide the teams toward new ideas, shared vision and better macro alignment.
The above solution resulted in:
-Higher moral within all of the CMO regions at the sub-team level.
-More overt collaboration between CMO regions resulting in innovation and creativity.
-An observation of skills gaps within the CMO group that needed training solutions.
-Less marketing campaigns and spend with higher impact due to “thinking” before design/build/launch.
-Development of a CMO peer review process.
-Development of a CMO “seat at the table” program to rotate CMOs through the C-suite meetings.
-A CMO strategic planning template.