The report was based on an online survey of more than 100 CMOs at leading U.S. consumer products companies.
“Despite CMO turnover’s continual presence in the headlines, the recent data suggest that perhaps CMOs are beginning to get it right, increasing their alignment with their C-suite peers,” said Greg Welch, global practice leader of Spencer Stuart’s Consumer Goods & Services Practice.
In other survey findings, 92% of respondents said CMOs need to own overall responsibility for the brand. Other areas that were cited as being important for CMOs to own are new-product development (58%) and customer satisfaction and relationships (41%).
Also, 65% of CMOs identified the ability to influence the bottom line as having critical importance, while 44% identified strategic orientation and 32%, customer orientation, as critical areas.