Chief Revenue Cop?
February 18, 2008
I came across this article on how the American Marketing Association has update the “official” definition of “marketing”. The article is a good read and shows how marketing professionals are struggling to adjust to the massive changes occurring. In particular, I enjoyed their take on the role of a CMO (emphasis is mine):
The prime objective of the chief marketing officer (CMO), is to maximise sustainable profitable revenue, while minimizing the use of marketing costs and investment.
I like this definition. I have long felt that if you have a CFO managing the bottom-line/business formula (profit cop) side of the business, it makes sense to have an executive managing the revenue side of things. By focusing on ROI, it focuses marketing executives to plan and act more efficiently - which sometimes means actually spending less money on marketing.
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