Chief Marketing Officer: Beyond Return on [Digital] Marketing Investments (ROMI)?
The chief marketing officer (CMO) role in the firms is one of the most dynamic, challenging, exhilarating, complex, and compelling as of the Chief Executive Officer. The CMO brings in the right analytics to help reduce the risk of marketing and to give to a boardroom and some stakeholders and the executive team a far more responsible approach to what they’re doing. The purpose of the study is to examine three main questions: (1) how CMOs are driving innovation in myriad ways and areas as diverse yet tightly woven as a culture, technology, talent, (2) creativity, product development, organizational structure (3) purpose and process. The central question addressed by the study how the most innovative CMOs around the globe are leading marketing at some of the biggest multinational corporations creating waves of impact on their companies, the industry, and society. The research method of the study is based on qualitative content analysis and primarily relied on recent research articles, case studies, and surveys. The findings of the study highlight that how CMO ’s with their education, expertise, experience, mindset, and mandate within organizations are using voice and visibility to wield influence that is helping to move organizations, spur innovation, drive business growth and shape cultural narrative as never before. This study posits that CMO needs to step up and own the broader business digital-transformation discussion to remain a strategic asset within organizations. Critical implications for researchers, practitioners, and policymakers highlighted.