How To Be A High Performing CMO In 2023

Every CMO worth their salt wants to get better at what they do. The last few years have been a tumultuous time as businesses have seen exponential changes to how we live and work. CMOs are also increasingly under pressure to drive growth despite a volatile economic environment – however it also presents significant opportunities if they adopt the right approach. So how can a CMO take things to the next level in 2023?

Maintaining Balance

According to Exponential Living Founder and President, high-performance coach, and award-winning author, Dr. Sheri Riley, who has worked with an array of pro athletes, entertainers and C-Suite executives, the key to being a high performing CMO is to manage the many pressures that come with the job in a healthy way: “The role of a CMO is increasingly complex and demanding, and it requires individuals who are mentally, emotionally, and physically prepared to deal with the challenges that come with it.”

The current marketing environment is getting increasingly complex everyday as new tools, best practices, and demands pop up on nearly a weekly basis. Riley believes every CMO needs to find their own way to navigate this: “The CMO needs to look at their own unique reality and develop a customized path rather than cookie-cutter advice. To maintain success, a high-performing CMO needs to focus on developing an empowering mindset, establish healthy coping mechanisms, and maintain inner peace.”

Riley also believes every high-performing CMO must uncover their true identity and answer the "who are you" question - this being especially important for individuals who have been often been identified as standouts for their entire life in their field, as they may have trouble separating their professional identity from their personal identity: “The role of a CMO is demanding and requires individuals who are able to work through issues, make sound decisions, and manage the realities of their job while also being a parent, spouse, sibling, or son or daughter. You cannot fire a cannon from a canoe. Developing professional skills is a dime in a dozen; the greatest CMOS will ensure they are able to maintain their performance by not spending 100% of their time on 10% of who they are.”

Leverage Data & Insight

Andre Swanston, AKA “Mr. Exit”, a leading tech innovator and media entrepreneur with a track record of predicting major industry shifts early, believes high performing CMOs must learn to leverage data in order to deepen their understanding of their target customers, but to also be able to effectively engage them through creative strategies: “By leveraging data, you can gain valuable insights into what resonates with your customers, allowing you to create content that speaks directly to their needs and desires. By analyzing the performance of different channels and platforms, you can make informed decisions about where to allocate your advertising budget for maximum impact and by tracking key performance indicators (KPIs) such as engagement rates and conversions, you can continually refine and improve your marketing efforts over time.”

Andre also believes any high performing CMO must build a diverse internal teams as well as external partnerships that align/reflect the increasing diversity of target customers: “CMOs must build teams and partnerships that reflect this reality. By bringing together people with different backgrounds, perspectives, and experiences, you can create a culture of innovation and creativity that is better able to connect with a diverse range of customers. Building diverse teams and partnerships can also help you avoid blind spots and biases that can lead to missed opportunities or ineffective marketing strategies.”

Andre also sees the high performing CMO as needing to take an increasing role in product planning and research and development – “In order to truly connect with your customers and drive growth, you need to be fully engaged in product planning and R&D. By collaborating closely with product teams and using customer insights to inform product development, you can create products that meet real customer needs and desires. This, in turn, can help you create more effective marketing campaigns that resonate with your target audience and drive sales”.

Focus on listening

According to from Adi Segal, CEO of Hapi, a wellbeing, engagement and benefits platform, marketing leaders also need to start by listening to their teams and customers: “High performing CMOs in 2023 must learn to 'Listen to Understand' - both internally to their teams - and externally in the market. We live in a fast paced, flashy world, which leads to consumer fatigue. Not only do standout CMOs need to have a constant ear to the market. When we look at industry growth and global transformation over the next 10 years, my bet is that the best listeners will become the most successful marketing leaders.”

Recognise things have changed

While a key part of any high performing CMO’s role, managing a team has always been hard and it is clear conversations on exactly how to navigate the challenges of motivating a team in the era of post-pandemic working will continue for some time to come.

According to Jennifer Moss, a speaker, workplace culture strategist and author of “The Burnout Epidemic,” CMO’s need to look differently at what flexibility means in 2023 and beyond: “CMOs have a unique skillset when it comes to branding. But, if they are promoting values publicly that don’t align with their actions internally, it erodes trust. More than ever, leaders can’t be tone-deaf. The way to ensure authenticity is simple – just ask. Ask your employees about how they view the internal brand? Do our values align with what we project outwardly? It that purpose felt in my day-to-day experience of work? What are we doing right? What can we improve? Learning the answers to these questions helps us to connect our people to the mission and be more intrinsically motivated to pursue goals.”

Moss also believes it is necessary to acknowledge that right now, work doesn’t feel as engaging as it once was – for CMOs and their teams. For many teams the inspiration has left the building, and while some may feel energized and ready to innovate, Moss believes there is a hangover effect caused by the pandemic: “It’s still slowing us down. People need to start connecting again in real life. However, it can’t be the same as it was pre-pandemic. Now is not the time for a “jam-the-toothpaste-back-in-the-tube” strategy for bringing people back to the office”.

Moss describes hybrid working as potentially being “the goldilocks zone” for most organizations – but it is often not the current version that most leaders are deploying:

“To make it work, it must be inclusive. What works for one group, won’t work for all. For early career employees who lost out on the value of in-person workplaces, time spent in the office should be focused more on networking, collaboration, building productive relationships and learning how to take feedback. Meanwhile, a mid-career working parent will have different needs. For all groups, the last thing anyone should be doing is commuting into work to sit in an empty conference while meeting on Zoom. This is just cruel”.

For Moss high performing marketing leaders need to consider what they can do differently and ask a key question “What makes our people excited to be here?”

Take Out Points

The key focus areas for all high performing CMOs in 2023 to consider are:

1. Focus on maintaining a health balance all aspects of your life – not just your job.

2. Take your skill set to another level by leveraging data and insight

3. Listen to your teams and customers feedback.

4. Recognize the way we work has changed forever and focus on bringing back the excitement to your team and their work