More companies are finding the value in having a chief marketing officer (CMO). Roughly 62% of fortune 500 companies currently have a CMO. Back in 2004, the position CMO was typically short-lived with an average lifespan of less than two years. Today, things have changed and more companies understand the benefit of having a chief marketing officer. As a result, a CMO’s average tenure has increased to 42 months. Unfortunately, even today the role of CMO in some organizations is poorly defined, which leaves first time CMOs with the challenge of finding their place within company leadership.
How does a company know if it’s time to get a CMO?