Transitioning from Marketing to CEO: Insights from Three Executives

Leadership

Three former marketers-turned-CEOs were sharing their experience at making the step up to the top job at Our Website’s Leadership Summit today (22 May).

During a panel discussion led by Our Website editor-in-chief Russell Parsons, the three CEOs were asked about what current marketers should stop, start, and continue doing to advance in their careers.

Chris Duncan, the former CEO of Bauer Media Publishing, began the conversation with a touch of poetry. He urged the audience to reflect on a line from the Robert Burns poem ‘To a louse’: ‘Oh, would some Power the gift give us / To see ourselves as others see us!’

CMOs may sometimes feel disconnected from the rest of the business while they are busy with their work. However, it is crucial for them to elevate their role by viewing marketing in the broader context of the entire business.

One important point to remember is that marketing holds the largest discretionary budget among all departments. It requires trust and support from the CEO each quarter to continue investing in marketing, despite the various financial demands from other parts of the business.

Marketers need to make sure they are well-prepared. The CEO, as mentioned by Duncan, is always thinking ahead three to six months, while in some marketing teams he has worked with, there is a tendency to focus on immediate updates. While this may be interesting, it doesn't leave much time for proactive action, so it's crucial to maintain a forward-thinking mindset.

This resonated with former Eve Sleep CEO Cheryl Calverley, who understands that as a CMO, you must be consistently optimistic because the marketing department is often the one pushing boundaries and trying new things. However, upon transitioning to the CEO role, one quickly realizes that a significant part of the job involves managing risks and balancing various priorities, as she elaborated.

Calverley initially approached her new role as CEO with optimism, but soon recognized the importance of carefully assessing risk balance. She acknowledged a significant shift in perspective.

On the other hand, Giffgaff CEO Ash Schofield did not offer poetic advice. He emphasized the need for marketers transitioning from CMO to CEO to address any outstanding issues and focus on strengthening relationships with their teams.

Upon taking on the role of CEO, he soon discovered that the company had not fully utilized the diverse range of skills and ideas available within the organization. He also noticed that there was a significant amount of untapped talent and resources scattered throughout the business.

Time for Change

Duncan suggests that marketers should start by asking more questions about the necessity of certain activities. He emphasized that as a portfolio business, Bauer may feel the need to invest more in products that may ultimately fail.

He advised the audience to consider whether they would see any impact from their marketing investment or if it was simply a temporary fix for a bigger problem. It is important to make an honest assessment in these situations.

The top marketers I have collaborated with are skilled at not only clarifying the reasons behind our actions but also contributing to strategic discussions that encompass the entire company.

• Chris Duncan, ex-CEO of Bauer Media

"It can be tough for marketing to stand out among other fields," he explained. "As a result, marketers may feel the need to protect their territory by setting boundaries and defending their work."

Duncan pointed out that this approach can lead to marketers overlooking important questions. For example, they may not question why operations is making certain decisions, or why logistics is investing heavily in specific projects. Additionally, they may not question the sudden growth of the finance team.

Avoiding Questions

"I prefer not to ask those questions because it might lead to them asking questions about me," he explained. "The top marketers I've collaborated with are adept at balancing the ability to clarify our strategies while also being able to discuss the overall business as part of the leadership team."

The panel discussion also addressed the issue of conflicts that may arise when a Chief Marketing Officer (CMO) transitions to the role of CEO and is then tasked with overseeing the person who took over their previous position. Schofield acknowledged that it can be difficult for a CEO with a marketing background to maintain their focus and that it is common for them to feel the urge to get involved.

He acknowledged that it took some time to strike a balance and that he had to remind himself to refrain from unnecessary input.

Schofield and Giffgaff CMO Sophie Wheater have a relationship where he gives her the freedom to do the role in her own way. He believes in letting her find her own path in the role.

Having a former marketer as your boss can be a huge privilege, according to Calverley. They will likely have a deep love for marketing and understand its importance for a business.

Calverley mentioned that being able to discuss topics that your boss is passionate about can bring a smile to their face. This can create a positive and exciting atmosphere in the workplace.

Keep doing

Duncan advises that CEOs with a marketing background may sometimes provide less support to the marketing department. This is because they need to maintain impartiality and make decisions that benefit the entire organization, rather than just favoring one specific department.

Finally, the panel discussed what marketers should continue doing if they become a CEO or aim to excel as a CMO. According to Duncan, the age-old saying that marketing is the "voice of the customer" still holds true and is essential for the function's contribution to the business.

He emphasized the importance of aligning marketing efforts with the overall strategy, showcasing successes, and effectively communicating the impact of these efforts through storytelling.

If a business is going through a transformation, Duncan emphasized the importance of staying focused on the customer. He warned that it can be risky when the transformation program takes precedence over the customer's needs. Ultimately, the success of a business relies on serving the customer effectively.

Schofield believes that every marketer has a "superpower" in storytelling. He emphasizes the importance of continuing to tell great stories within the organization to engage and bring the business along.

Calverley highlighted the importance of marketing in predicting future trends and anticipating customer needs in the upcoming years. According to her, marketers have a unique role in understanding the direction of society and adjusting business strategies accordingly. She dismissed the idea that marketers need to focus solely on numbers and data like other departments in a company.

"They want us to become accountants, but that's not what I'm here for. When thinking about your career, always consider what sets you apart. If everyone else can work with spreadsheets, find something else to focus on," she advised.

Editor's P/S:

The article provides valuable insights into the transition from CMO to CEO and the challenges faced by former marketers in this new role. It highlights the importance of marketers broadening their perspectives, understanding the needs of the entire business, and maintaining a forward-thinking mindset. Marketers should prioritize asking questions, challenging assumptions, and aligning their efforts with the overall strategy.

The discussion also emphasizes the need for marketers to maintain their passion for marketing while balancing their responsibilities as CEOs. They should continue to be the "voice of the customer" and use their storytelling abilities to engage stakeholders and drive business success. Marketers should focus on their unique strengths, such as predicting trends and understanding customer needs, and avoid becoming solely focused on data and numbers.