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1、DISCOVER THE MUST-HAVE SKILLS AND CAPABILITIES CMOS NEED TO BECOME BOARD-READYFOREWORD BYIN PARTNERSHIP WITH$2|BUILDING THE BOARD-READY CMOCONTENTSFOREWORD BY WARC 3INTRODUCTION 4OPENING PANDORAS BOX 5WHAT DOES THE BOARD REALLY THINK OF CMOS?7BUILDING THE BOARD-READY CMO IN B2B 8HOW DO B2B CMOS MEAS

2、URE UP?9BUILDING THE BOARD-READY CMO IN B2B 10KEY AREAS OF STRENGTH 11KEY AREAS FOR DEVELOPMENT 14WHICH CMO ARCHETYPE ARE YOU?18CONCLUDING REMARKS 20METHODOLOGY AND SPECIAL MENTIONS 21ABOUT TRANSMISSION AND NEWTONX 223|BUILDING THE BOARD-READY CMOFOREWORD BY WARCTHE KEY TO MARKETING IN THE BOARDROOM

3、?ACTUAL MARKETINGMarketers on the board its an evergreen topic in our industry.And this fascinating research is important in helping marketers identify how to take the next step in their career.For me,the important contribution this research makes is to identify the nature of marketing as an issue a

4、s well as an opportunity.The opportunity is with what you might call a purist,or even a traditional,definition of marketing clear understanding of the 4Ps,with a customer obsession and an ability to lead a growth agenda.That alignment of marketing with growth,with the customer,and with the broader b

5、usiness,should on paper be the perfect launchpad for boardroom representation.But theres a different version of marketing that is far less flattering overly focused on one part of the brief(communications),and as a result not connected enough to the day-to-day running of the business.Tenures are sho

6、rt,and in these cases the CEO feels the need to take on the role of voice of the customer.Both versions of marketing exist and,arguably,in B2B the contrast is even more stark than in B2C.But as the industry goes through a fresh round of upheaval,its the former version we need to champion if the disc

7、ipline is to prosper.At WARC,weve been helping marketers make an evidence-backed case for their work for decades.And over the past year,weve been looking at internal culture as a crucial element in marketing effectiveness.What has become clear is that no amount of knowledge of effectiveness principl

8、es is going to help if the CFO simply doesnt trust the marketing team.Gaining alignment,and building a team that can speak the language of finance is crucial.In other words,win hearts and minds internally,to ensure you can do it externally.The research from Transmission confirms that some of the big

9、gest areas of weakness in B2B marketing organizations are those that involve building bridges with other parts of the business:the need for a T-shaped skillset;building a personal network beyond marketing;and GTM connectivity.Its striking how many marketers have zero responsibility for pricing,distr

10、ibution,and product.“The Framework is a really useful starting point for senior marketers looking to make the leap to the board.What it confirms is that the more expansive,more integrated vision of marketing is the one to pursue if marketers are to progress.”DAVID TILTMAN,CHIEF CONTENT AND CUSTOMER

11、OFFICER,WARC4|BUILDING THE BOARD-READY CMOINTRODUCTIONDear CMO(and future CMOs),When we started exploring this topic,we were surprised at how uncommon it is for CMOs to be selected for boards.Today,less than 3%of public board members have any form of marketing background.In fact,statistically,it wou

12、ld be easier for you to join the Goldman Sachs summer internship program or get accepted for the London Marathon than to be invited to serve on a B2B board.1 Does this mean that you cant be on a board?Or that boards dont need marketing leaders?No and no.Whilst the chance of winning that illustrious

13、golden seat at the top table remains a challenge,its certainly not impossible.You just need to figure out the right steps to take,and how to best show your value creation along the way.Transmission works with CMOs across the world to elevate the role of marketing leadership in B2B organizations.We k

14、now that CMOs with the right GTM strategy can play a key role in those winning boards of the future,and as evidenced by McKinsey,2 deliver a greater percentage of annual revenue growth,profitability,and market share compared to the boards who exclude them.For this reason,weve created a unique Board-

15、Readiness Framework to help CMOs and future marketing leaders to identify and develop the must-have skills,capabilities,and behavioral traits they need to prepare and position themselves for a B2B board role.Developed in association with leading B2B market research company NewtonX,the Framework has

16、been built using real-life qualitative insights,stories,and advice from a group of inspirational B2B CMOs(and former CMOs)who are successfully serving on boards today or have strong board-level relationships.To broaden our knowledge,we also conducted virtual interviews with executive and non-executi

17、ve board directors in both private and public boards who are responsible for new director appointments.Our wish is to close the CMO board-selection gap by empowering more CMOs worldwide to apply for board roles and become successful in winning a board seat.We hope this report will inspire you to tak

18、e action,review your career development goals,and begin to build yourself in to a board-ready B2B marketing leader.CHRIS BAGNALL,CEO AND FOUNDER OF TRANSMISSION“Becoming a board member is a tremendous learning journey for any CMO.The skills you need dont come naturally to marketers.There are more ba

19、rriers to sidestep,more prejudices to overcome,and more risks at stake,but arguably theres a lot more reward both professionally and personally.You just need to be prepared.”DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COM(1)The Ultimate CMO Guide to Scare Board Seats.Chris R.Burggraeve;(2)McKinsey

20、.The power of partnership:How the CEOCMO relationship can drive outsize growth,October 26,20235|BUILDING THE BOARD-READY CMOOPENING PANDORAS BOXBOXYoure the CMO.Youre a driver of growth in the C-suite.Where next?The B2B boardroom?Your scepticism is understandable.Just 41 of the Fortune 1000 companie

21、s have a CMO sitting on their board today.3 And only 39%of them invite the CMO to regularly attend board meetings.Why so few?Here are four possible hypotheses:THE SHORT TENURE PERIOD OF A CMO MAKES BOARDS NERVOUS The average tenure for a B2B CMO is 4.5 years,4 the lowest of all the C-suite roles.Boa

22、rds may feel uncomfortable hiring a CMO to take a seat when their opportunity to create long-term value in the organization is likely to be cut short.BOARDS PREFER TO SELECT PEOPLE WITH JOB ROLES THEYRE FAMILIAR WITH Over 70%of Fortune 100 CEOs have operational or finance backgrounds.5 Less than 10%

23、of the Fortune 250 CEOs have any kind of marketing experience,and only 4%were former CMOs themselves.6 The 2023 Spencer Stuart Board Index(see in figure 1),shows that of all the new independent directors appointed to a US board in 2023,there was a higher demand for active or former CEOs,and director

24、s with financial backgrounds.Appointments for P&L leaders or functional leaders like CMOs were in decline.It appears that boards prefer to select members with roles they feel familiar with.Is this laziness?Or are they playing it safe and just feel more comfortable with colleagues who have similar sk

25、ills,perspectives,and experiences?“We see CMOs come and go in our organization pretty rapidly.Bringing new members in is often disruptive to start with,and it takes time to build up trust and team dynamic.The average tenure in our board is over six years.We need people willing to commit for the long

26、 term,not a few years.”BOARD DIRECTOR AND CHAIRMAN OF THE AUDIT COMMITTEE,PUBLIC BOARD,USA“As someone who identifies as non-binary,board diversity and equal representation really matter to me.I hear business leaders all the time say,Well,theres just not enough diverse board talent out there.That is

27、simply not true.There are tonnes of folks like me,or like other CMOs,Chief People Officers,folks in every single walk of life,who would love the opportunity to be on their first board,but what you tend to see is that people only pick board members with similar roles to their own,or those who have pr

28、evious board experience,passing over qualified diverse talent who may bring different insights and perspectives to the table.”SARAH REYNOLDS,CMO,HIBOBONLYOF THE FORTUNE 1000 COMPANIES HAVE A CMO SITTING ON THEIR BOARD TODAY4110%20%30%40%02013201820222023CEOsFinancial backgroundsP&L leadersFunctional

29、 leadersChairs/presidents/COOsS&P 500 DIRECTORS:NEW INDEPENDENT DIRECTORS PROFESSIONAL BACKGROUNDSFigure 17(3)F,Fortune 500 companies are eliminating chief marketing officer roles as the position loses C-suite clout,Phil Wahba,January 2024(4)Spencer Stuart,CMO Tenure Study 2024:An Expanded View of C

30、MO Tenure and Background,April 2024.(5)McKinsey article The power of partnership:How the CEOCMO relationship can drive outsize growth,October 26,2023(6)McKinsey.Analyzing the CEOCMO relationship and its effect on growth.March 7,2024|Podcast(7)2023 U.S.Spencer Stuart Board Index6|BUILDING THE BOARD-R

31、EADY CMOBOARDS ARE STILL RUN LIKE AN OLD BOYS CLUBLabeling corporate boards as pale,male and stale sounds like an old-fashioned clich.Yet despite a heavy push to improve culture and diversity,65%of board members in European organizations are male and in the US this stands at a discouraging 70%.8 Wit

32、h over 50%of CMOs globally being represented by women,9 could gender be one of the barriers stopping half the CMO population from progressing to a board role?Perhaps.It appears that a male-dominated board can have a negative impact on the number of women at executive level too.Research by S&P report

33、s that women now claim just 11.8%of 15,000 C-suite roles at publicly traded US companies.10 This evidence certainly suggests that females aspiring to reach the upper echelons of the boardroom will find the climb a lot steeper than their male counterparts.Thankfully,those bleak stats and testimony do

34、nt show trajectory.The future will be different:46%of new independent directors appointed by S&P 500 boards in 2023 were women and the number of board-chair roles held by women has more than doubled since 2019.11 Left with the remit of one P:Promotion,CMOs are finding it increasingly difficult to co

35、ordinate and control all the Go-to-Market(GTM)levers of their growth strategy.This gives marketing limited impact on what creates value in the business and stops them from staying accountable for board-critical commercial metrics like Customer Acquisition Cost(CAC)and Customer Lifetime Value(CLTV).A

36、s a result,CEOs who are turning to their Chief Finance Officer for pricing advice,will inevitably shape their growth strategies to be more financially and analytically driven,versus consumer or market led.We can see the impact of this in B2B SaaS organizations today.Since Covid-19,their customer acq

37、uisition costs have risen by an astounding 228%,12 yet the cost of sales and marketing has stayed static.This isnt a good metric for any CFO and board to see,and just highlights the dangers of splitting GTM accountability across multiple functions(sales,finance,market,product)wholl all engage with t

38、he same customer in different ways.“I was the only woman on the board.And to be very frank,it was a board full of like,old white men.So it was an incredibly difficult.because holy shit,some of the stuff that came out of these guyss mouths.I mean,it was tough.”UNDISCLOSED,CMO IN EUROPEAN MANUFACTURIN

39、G ORGANIZATIONONLYOF CORPORATE BOARD SEATS IN THE US ARE OCCUPIED BY WOMEN30%“Any marketing leader who does not take the time to understand and significantly influence the other 3Ps(aside from Promotion)will struggle to contribute towards long-tern value creation.Especially if you want to be seen as

40、 a growth leader in the eyes of the C-Suite and the board.”CHRIS R.BURGGRAEVE,FORMER CMO AB INBEV,INVESTOR,AUTHOR,BOARD MEMBER/CHAIRMANUnderstand and manage product lifecycle.Get products in front of the consumers that are the most likely to buy them.Social MediaEmailSEO PPCBanner adsAffidatesInflue

41、ncersTVOut of HomePrint RadioSponsorshipPRODUCTPLACEPROMOTIONTHIS IS MARKETINGTHIS IS NOTMARKETINGADVERTISINGPUBLIC RELATIONSOFFLINEONLINEPROMOTIONAL STRATEGYPRICELink the price to the products real and perceived value.MARKETINGCMOS NO LONGER CONTROL GTM STRATEGY Traditionally,CMOs have been in char

42、ge of the 4Ps:Product,Price,Place,and Promotion.Today,digital technology and the birth of new C-suite roles like Chief Product Officer,Chief Customer Officer,and Chief Growth Officer have led to the ownership of the 4Ps being distributed to other functions,as shown in the 4P Marketing Mix model in f

43、igure 2.Figure 2(8)2023 U.S.Spencer Stuart Board Index(9)Fortune.CMOs waning influence in the C-suite is a setback for female executives.2024(10)Washington Post article Womens share of executive jobs falls for first time in years,study finds.S&P Global 2024(11)2023 S&P 500 New Director and Diversity

44、 Snapshot.(12)SimplicityDX research7|BUILDING THE BOARD-READY CMOTo help us understand how CMOs in B2B organizations are perceived by boards,we interviewed a number of exec and non-exec board directors from public and private B2B boards who were all responsible for the selection of new members.WE AS

45、KED EACH BOARD DIRECTOR FIVE QUESTIONS:1.Do you have any CMOs or senior marketing leaders serving on your board today?2.If not,could you tell us why CMOs havent been considered or invited to the board?3.If not,who in the board represents the voice of the customer?4.How does your board perceive CMOs

46、and the value marketing brings to the business?5.What skills and capabilities should CMOs aim to develop or strengthen to increase their chances of being invited to your board?HERE ARE THE KEY TAKEAWAYS:Only one board directors interviewed had a CMO currently serving on their board.For the others,in

47、viting a CMO on to the board hadnt been considered.The director whod recruited a CMO said the board needed greater intelligence and expertise in emerging markets and competitor analysis.The CMO selected also had good international relations and M&A experience.Many of the directors reminded us that b

48、oard seats are limited and should go to well-rounded businesspeople,who are highly skilled in diligence,supervision,and risk mitigation skills that CMOs were perceived to be lacking.The same group of directors said that CMOs were specialists who tended to stay in their lane and didnt have T-Shaped s

49、kills.Theyd happily consider a CMO for a future board role if they had strong financial literacy,showed big picture strategic thinking,and could offer advice on matters like industry regulation or corporate governance but apparently these people dont exist!“CMOs are unlikely to be well-rounded busin

50、esspeople.The CMO in our B2B organization is great,but he doesnt have enough“big-picture”experience.He doesnt understand our financial strategy enough,he doesnt understand the inner working of liquidity management,he cant comment on our operating ratios.Board members need to have that knowledge.Its

51、vital.”BOARD VICE PRESIDENT(NON-EXECUTIVE),SERVING ON A EUROPEAN FINTECH BOARDWHAT DOES THE BOARD REALLY THINK OF CMOS?“In my experience,90%of CMOs are extroverts thats why they are experts in marketing.That trait isnt good in the boardroom.We need to carefully listen to each,and every word people s

52、ay in those meetings.Extroverts talk a lot.They dont know when to shut up and detect when the right moment is to contribute.Thats why we dont consider CMOs for board roles.“BOARD CHAIRPERSON,SERVING ON A PRIVATE US IT SOFTWARE BOARD Similarly,another director admitted that he saw CMOs as customer pr

53、oblem solvers and creative innovators.He noted that a board directors role was to ask the questions,not to provide the answers.When asked who represents the voice of the customer,50%of the directors stated their CEO took responsibility for customer insights and tended to represent the marketing side

54、 of any board agenda discussions.“Most of the board positions provide oversight in relation to regulation,compliance and risk mitigation.CMOs are great at generating ideas or finding inspirational ways to solve problems.Boards however,are about supervising we look for lawyers,audit specialists and r

55、isk managers.Its about protecting the long-term life of the company not about how it innovates.”BOARD CHAIRPERSON,SERVING ON A PRIVATE US IT SOFTWARE BOARD One board director described CMOs as extroverts who didnt portray any servant-leadership skills.She flagged that CMOs tended to be the talkers,n

56、ot the listeners in a group and were compelled to direct and control,rather than supervise and provide oversight.PERSONAL NETWORK A CMO with a strong personal brand and network that brings them to the attention of boards seeking new candidates.LinkedIn bios(or similar)should be business focused(not

57、just marketing),and clearly highlight 2-3 distinguishing factors that show a CMOs unique strengths and qualities,and the value they can bring to a board.CMOs should make time to regularly network with board and investor communities to increase referrals to people who may have future positions.BOARDR

58、OOM EXPOSURE A CMO who regularly attends company board meetings and presents recommendations on customer,market,and competitor strategies.Can confidently contribute to board agenda discussions and produces commercial reports that demonstrate the impact of marketing to the growth of the business.T-SH

59、APED SKILLS A CMO who presents as a well-rounded strategic business leader that has a broader range of critical-assessment skills and analytical capabilities beyond marketing strategy and operations e.g.,legal compliance,risk management,international relations,etc.They can offer big picture thinking

60、,with foresight and guidance on how different market factors can affect material risk and opportunities to drive sustainable growth and profitability.GTM CONNECTIVITYA CMO who takes a lead role in shaping and managing the end-to-end GTM strategy by building connected and collaborative relationships

61、between Sales,Product,Pricing,Distribution,and Customer Success functions to optimize pipeline and revenue growth.Takes more ownership and accountability for the 4Ps,including product-market fit,pricing strategy,and pricing models.CEO ALLIANCE A CMO who reports directly into the CEO and has built up

62、 a strong,collaborative relationship where theres mutual respect and trust.Has clarity of their role,responsibilities,and KPIs as a growth leader in the business,with full accountability for pipeline and revenue-based metrics including CAC and CLTV.FINANCIAL ACUMEN A CMO that demonstrates a sound pr

63、oficiency in reading and evaluating financial statements,reports,and ratios and understands their use in commercial planning and decision making.Feels comfortable participating in financial discussions and works collaboratively with the CFO to ensure marketing strategies are aligned to the commercia

64、l goals of the organization.MARKET SPECIALISM A CMO who shows a deep understanding of market context and the industry dynamics,challenges,and opportunities impacting how TAMs and ICPs behave,and the changes in the competitive or technology landscape that impact customer investment strategies.Can giv

65、e sound advice on market category optimisation,including category build,design,and leadership strategies.“Its critical for CMOs to frequently attend and represent themselves well in board meetings.Its where you learn to speak the language of the board and understand what the board really cares about

66、 before applying for your own board role.”PETER FINTER,BOARD CHAIR AND ADVISOR,CMO,KX“Focus on overcoming one of the biggest obstacles to getting a board position the networking.CMOs must invest the time to build their own personal network and increase their exposure to board members and investors o

67、n boards,especially in private equity or the VC community.”DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COM “Youve got to have sharp elbows.Boards can be vicious places where pretty robust discussions take place.Make sure you have a justifiable point of view.Be defensible.And always think about you

68、r communication tone and style.”TIM PICKARD,BOARD ADVISOR,CMO OF UPP.AI“Boards generally dont look for one-trick ponies.We desire someone with a“T-Shaped”perspective.Someone who can take a step back and look at the big picture,who has the financial acumen,strategic skills,and the dexterity to see ar

69、ound the corner to help us navigate material risk and opportunities to create long-term value for shareholders.”SONITA LONTOH,PUBLIC COMPANY BOARD DIRECTOR AND FORMER FORTUNE 100 TECHNOLOGY EXECUTIVE“CMOs should have consistent influence or ownership of the Go-To-Market a GTM that goes broader than

70、just marketing and includes sales,product and customer success all working together to attract and engage customers.This is super,super important.Arguably it got me a board seat.”PATRICIA HADDEN,BOARD OF DIRECTORS,GLOBAL MARKETING LEAD,GOOGLE“Having a strategic and equally respectful relationship wi

71、th your CEO it critical.They can guide you on your path to the board,be your sounding board if you are unsure about anything,and advocate your value as a business leader as well as a market expert to their network and boardroom peers.”JENNIFER GRIFFIN-SMITH,BOARD MEMBER,CMO,ACQUIA“Broaden and deepen

72、 your finance skill set.If you dont understand P&L,balance sheets,cashflow statements and the LTV:CAC ratio,and spot the trends and drivers,dont even bother applying.“DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COM“I would consider not having Chief Marketing Officer in your title.The ING puts peop

73、le off.Become the Chief Market Officer instead.It adds a lot more value.”JENNIFER GRIFFIN-SMITH,BOARD MEMBER,CMO,ACQUIABUILDING THE BOARD-READY CMO IN B2BSERVANT-LEADERSHIP A CMO with natural servant-leadership style,who display high levels of emotional intelligence and stewardship.They listen well,

74、show empathy,and are highly skilled in developing cohesive,synergistic relationships.Committed to the personal growth and wellbeing of others,rather than themselves,they make great sounding boards or supervisors by being naturally curious,asking lots of questions,and objectively assessing the pros a

75、nd cons of different business decisions and strategies.Introducing the Board-Ready CMO Framework Our research shows that 62%of B2B CMOs worldwide are aspiring to serve on a public,private or advisory board in the next 3-5 years,but a mere 8%of them say theyre confident of actually winning a board po

76、sition.Based on the insights gained from our CMO and board director interviews,weve constructed an evidence-based Framework that consists of eight building blocks or must have skills,capabilities,or behavioral traits that CMOs need to strengthen or develop for board-readiness.Chart source:Transmissi

77、on-NewtonX Building the Board-Ready CMO in B2B study,May-June 5,2024BOARDROOMEXPOSURECEOALLIANCEPERSONALNETWORKSERVANTLEADERSHIPT-SHAPEDSKILLSCONNECTIVITYMARKETSPECIALISMFINANCIALACUMENGTMEXPERIENCERELATIONSHIPSRELATIONSHIPSEXPERIENCEEXPERIENCERELATIONSHIPSKNOWLEDGEKNOWLEDGEBROADSKILLS/KNOWLEDGEPRIC

78、INGSTRATEGYCATEGORYDESIGN/BUILDP&LRESPONSIBILITYFINANCIALPROFICIENCYCFOALIGNMENTINDUSTRYEXPERTISECUSTOMERINTELLIGENCEPRODUCTSTRATEGYGTMACCOUNTABILITYBREATHOFEXPERIENCEBUSINESSACUMENREGULARATTENDANCEGROWTHLEADERSHIPBOARDCONNECTIONSSTEWARDSHIPSTRATEGICCONTRIBUTIONFINANCIALREPORTINGNETWORKINGFREQUENCYB

79、USINESSPROFILE/BIOEMOTIONALINTELLIGENCEFORESIGHTCOMMERCIALACCOUNTABILITYTRUSTANDRESPECTFINANCIALREPORTING$9|BUILDING THE BOARD-READY CMOHOW DO B2B CMOS MEASURE UP?CHARTING THE COURSE TO CMO BOARD-READINESSUsing the Board-Ready CMO Framework,we conducted a benchmarking study of 311 B2B CMOs across No

80、rth America,Europe,and APAC to measure their current level of board-readiness.Through a series of self-assessment questions,each CMO was evaluated across the Frameworks eight building blocks(skills and capabilities)and then given an accumulated board-readiness score.We then grouped their scores into

81、 four levels of maturity that can help a CMO better succeed in winning a board position.The maturity levels are outlined in figure 4,below.THE RESULTS:Our CMO Board-Readiness Maturity Curve(see figure 5)shows that the B2B CMOs surveyed are all at different stages of the board readiness journey.54%of

82、 CMOs achieved a board-readiness score that positioned them in the Establishing level of maturity.42%of CMOs achieved a board-readiness score that moved them into the Developing level of maturity.2%of CMOs sat in the Early Starter level of maturity.And only 2%of CMOs received the highest scores,plac

83、ing them in the Advanced level of maturity.MATURITY LEVELSTAGE 1:EARLY STARTER2%(5 PEOPLE)STAGE 2:ESTABLISHING54%(169 PEOPLE)STAGE 3:DEVELOPING42%(132 PEOPLE)STAGE 4:ADVANCED2%(5 PEOPLE)RESULTS(NO.OF PEOPLE)CMOs who are at the starting point of their board-readiness journey.Theyve strong motivation

84、and recognition of their board potential but lack regular boardroom exposure and experience.They display a basic level of competence in the business skills and capabilities needed to be successful in the role.CMOs who are proactively building their board-ready skills and capabilities.They attend boa

85、rd meetings regularly,show natural servant-leadership traits,and have a strong relationship with their CEO,but lack maturity in the other board-critical skills and competencies.CMOs who show a solid,repeatable level of competence across many of the board-critical skills and capabilities and have str

86、ong relationships with both CEO and CFO colleagues.Strengthening GTM collaboration and gaining more T-Shaped skills are often key areas for improvement.CMOs who are mastering most of the board-critical skills and capabilities needed to be successful in the role.Theyre seen to be financially-savvy,gr

87、eat at GTM collaboration and have good set of T-Shaped skills.Time should be spent improving their personal network ready to begin the board application process.MATURITY LEVEL 1 MATURITY LEVEL 2 MATURITY LEVEL 3MATURITY LEVEL 4EARLY STARTERESTABLISHINGDEVELOPINGADVANCEDFIGURE 5:THE B2B CMO BOARD-REA

88、DINESS MATURITY CURVE42%of B2B CMOs are Developing2%of B2B CMOs are Early StartersBOARD-READINESS MEAN SCORELEVEL OF MATURITYBOARD-READINESS MEAN SCORE2%of B2B CMOs are Advanced54%of B2B CMOs are EstablishingTransmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.10|BUILDIN

89、G THE BOARD-READY CMOBUILDING THE BOARD-READY CMO IN B2BBOARD-READINESS MATURITY LEVELS When assessing the scores in each of the eight different board-ready building blocks,we can see that every CMO is on their own board-readiness journey.No one size fits all.Some are strong in Financial Acumen and

90、Market Specialism for example,others show great experience and expertise in GTM Collaboration and Servant-Leadership.CEO ALLIANCE WAS THE HIGHEST SCORING BUILDING BLOCK IN THE BOARD-READINESS FRAMEWORKT-SHAPED SKILLS WAS THE LOWEST SCORING BUILDING BLOCK IN THE BOARD-READINESS FRAMEWORK of CMOs achi

91、eved the average mean scoreof CMOs achieved the average mean score80%26%The below charts reveal which building blocks the CMOs had the strongest and weakest scores in based on their level of board-readiness maturity.EARLY STARTER(1-120)DEVELOPING(211-260)ADVANCED(260)ESTABLISHING(121-210)MEAN SCORE

92、BY BUILDING BLOCKTransmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.SERVANT-LEADERSHIPSERVANT-LEADERSHIPSERVANT-LEADERSHIPSERVANT-LEADERSHIPT-Shaped Skills11|BUILDING THE BOARD-READY CMObusiness metric for demonstrating the commercial value of marketing to a board.When

93、 asked if their strategic contribution to the business outside of marketing was recognized by the CEO,an alarming 49%felt that it wasnt.This tells us CMOs are still struggling to elevate their value beyond delivering creative ads or leads,and are largely still pigeonholed as marketing specialists,ra

94、ther than business generalists.KEY AREAS OF STRENGTH1.CEO ALLIANCE2.MARKET SPECIALISMWithin the Board-Readiness Framework,the building blocks that our CMOs scored highest in were CEO Alliance,Market Specialism,Boardroom Exposure,and Servant-Leadership.Its encouraging to see that a strong CEO Allianc

95、e was the highest scoring building block in our Board-Readiness Framework.As proven by McKinsey,CEOs that place marketing at the core of their growth strategy will perform better.Thankfully,our research reveals that most B2B CEOs today acknowledge the importance of CMOs and their role in helping the

96、 company grow.88%of CMOs say their CEO recognizes the impact and value marketing brings to the business,and has given them a clear outline of their role and responsibilities as a growth leader.Achieving a healthy tension in the boardroom isnt easy.Board members need to show courage and candor in the

97、ir thinking,but also remain objective and empathetic.When asked to describe their relationship with the CEO,59%of CMOs strongly agreed that it was highly collaborative,mutually respectful,and trusted,which will stand them in good stead during boardroom meetings.Accountability for improving CAC and C

98、LTV results was one area of CMO Alliance where CMOs received a low score.Only 34%said they were asked to regularly report to the board on these metrics.This is concerning given that the LTV:CAC ratio is a critical Market Specialism was the second highest scoring building block in our Board-Readiness

99、 Framework.Hardly a surprise given CMOs should understand their customers and markets better than anyone in the C-suite.Just under one third(30%)of the CMOs surveyed positioned themselves as the Market-Centric CMO archetype who is great at understanding market dynamics,categories,and problems,and be

100、ing the voice of the customer across the buyer journey.59%of CMOs rated their level of market sector knowledge and experience as very strong and would consider themselves an expert.A further 37%considered themselves as highly competent in all matters relating to the latest market dynamics,challenges

101、,and opportunities impacting how target customers and competitors behaved.In relation to their skills in market category design,category build,or category leadership,the majority of CMOs(93%)rated their knowledge and experience as very strong or strong.Only 6%admitted their skills were moderate.When

102、 we look at the areas of Market Specialism where CMOs received weaker scores,we found that over half of the CMOs surveyed(54%)were restricted from presenting customer intelligence to the board,and were asked to provide these insights just some of the time.In many cases,the bulk of customer intellige

103、nce was presented by the CEO or by outside agencies or consultancies.of B2B CMOs would consider themselves to be a market expert in their organization59%“Category is a huge talking point for board members.They will always be interested in whether the company can design,build or lead in a category.Th

104、e majority of the profits in any category go to category leader,so consequently,understanding how to represent that to your board is a key contribution that you can make.”PETER FINTER,BOARD MEMBER AND CMO“CMOs need to speak the language of business beyond their functional expertise.They must be able

105、 to give strategic direction,not just marketing strategy This will bring you closer to what the board is really interested in.”CRISTINA BONDOLOWSKI,BOARD DIRECTOR,GLOBAL CMO,MSCIof B2B CMOs say their CEO recognizes the value marketing brings to the business88%12|BUILDING THE BOARD-READY CMOFigure 6:

106、Board agenda topics presented by CMOsKEY AREAS OF STRENGTH3.BOARDROOM EXPOSUREThe third highest scoring building block in our Board-Readiness Framework.A 2021 study by Deloitte revealed that only 26%of CMOs were being regularly invited to attend board meetings,13 but in B2B it seems that the frequen

107、cy has significantly improved.39%of our CMOs said they attended and/or presented at every company board meeting.A further 40%said they attended and/or presented at most company board meetings.Only 44%of B2B CMOs present on any revenue-orientated topics like sales and pipeline forecasts,and an even l

108、ower proportion cover product and pricing strategies.This supports our hypothesis that CMOs are struggling to control some of the growth levers in the GTM,and this is where they are falling down in the eyes of the board.How can CMO differentiate themselves as commercial leaders when theyre constrain

109、ed to campaign performance reporting?Instead they should be answering board questions like Is our pipeline engine working?or How do we evolve our product strategy to deliver greater efficiency?39%When CMOs were ask if they were satisfied with the boardroom exposure and experience they received in th

110、eir role today,over 90%said they were very satisfied or satisfied.Only 8%stated there were dissatisfied.It seems that getting into the boardroom isnt really an issue for CMOs.Disappointingly though,the agenda topics that CMOs were asked to present during board meetings appear to be predominantly mar

111、keting performance focused,as shown in figure 6.of B2B CMOs say they attend every company board meetingFigure 7:Metrics CMOs report on during board meetingsA similar pattern can be seen when we explore the metrics B2B CMOs are being asked to report on during board meetings,as outlined in figure 7.It

112、s interesting to note that CMOs dont have one or two common metrics they all share at board meetings,suggesting there isnt universal agreement on which metrics are the most significant.In our view,LTV:CAC ratios are those metrics yet only 32%of CMOs are asked to reported on them.“The best way to com

113、municate your value to the board is in clear financial terms.Know what goes into making up you CAC and Customer Lifetime Value ratios,and how you can manage them to improve efficiency over time.”TIM PICKARD,BOARD ADVISOR,CMO OF UPP.AI32%of CMOs report on LTV:CAC ratios during board meetingsONLYTrans

114、mission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.(13)Think Google article referencing Deloitte.How CMOs earn a seat at the board table.March 2021Transmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.13|BUILDING THE BOARD-READY CMOKEY AREAS OF S

115、TRENGTH4.SERVANT-LEADERSHIPServant-Leadership was the fourth highest scoring building block in our Board-Readiness Framework.When you are one of 10-15 people responsible for stewardship and oversight of a company,having a Servant-Leadership style is really important.Faced with diverse personalities

116、and diverse viewpoints,board discussions can often get heated,with uncomfortable questions asked and information exchanged at a fast and frantic pace.As shown in figure 8,just over a third of B2B CMOs surveyed(32%)selected behavioral traits typically associated with Servant-Leadership.(Collaborative

117、&Consensus-Building,Supportive,and Analytical.)However,over 60%of the CMOs surveyed selected behavioral traits that arent typically associated with Servant-Leadership.These included being visionary and inspiring(21%),direct and decisive(21%),and bold and assertive(12%).When assessing how our CMOs li

118、ke to behave when participating in company leadership or exec team meetings,nearly 40%said they naturally prefer to take a more assertive and controlling role in the conversations/discussions,and 38%said they liked to lead conversation.Only a small 4%said they preferred to listen and respond only wh

119、en invited to.40%of B2B CMOs prefer to take an assertive and controlling role in business meetings“To persuade the boardroom on the right path forward,it is not about slamming hard on the table,nor about shouting loud,nor about monopolizing the boardroom.In an age of consumer centricity and board ro

120、om etiquette,it is all about being invited in,about influence,about becoming a trusted advisor.”CHRIS R.BURGGRAEVE,FORMER CMO AB INBEV,INVESTOR,AUTHOR,BOARD MEMBER/CHAIRMAN“When you join a board,youre suddenly in a roomful of people with diverse experiences,leadership styles and qualities.Its a kind

121、 of masterclass in learning how to navigate the different dynamics and knowing when and how to participate,and the right way to influence people.The biggest lesson I learnt was being attuned to your environment.”PATRICIA HADDEN,BOARD OF DIRECTORS,GLOBAL MARKETING LEAD,GOOGLE AND CHAIRMAN.More positi

122、vely however,the majority of CMOs rated themselves as good at providing honest and constructive feedback,and good at persuading people to make important decisions.The majority also said they had highly ethical and moral standards.These are all key traits of being a servant-leader.Ironically,the beha

123、vioral traits that got CMOs to where they are today,like being bold and assertive,now need to be refined for a future board role.As Burggraeve reminds us:As highlighted by a former CMO in Burggraeves The Ultimate CMO Guide to Scare Board Seats,most CMOs in executive leadership teams will naturally b

124、e tempted to interject discussions to ask questions or qualify opinions.But in the boardroom,your timing of when and how to ask questions matters a lot.Your tone matters.Your style matters.Being patient and being respectful matters too.Figure 8:B2B CMO leadership traitsTransmission-NewtonX Building

125、the Board-Ready CMO in B2B study,May to June 5,2024.14|BUILDING THE BOARD-READY CMOOf those with T-Shaped skills,the most common were product development,generative AI,and supply chain management,as outlined in figure 9.The CMOs surveyed were also asked whether they had any direct involvement or exp

126、erience in managing a range of business initiatives typically associated with B2B organizations.Again the response to this question was poor.Only 44%stated theyd had direct involvement or experience in business transformational programs.The most common of these was Digital Transformation programs,ri

127、sk management programs,and cultural management.Sadly,it seems that most CMOs are narrow casted I-shaped specialists who havent had the opportunity to build knowledge and skills in other areas.KEY AREAS FOR DEVELOPMENT1.T-SHAPED SKILLS Within the Board-Readiness Framework,the building blocks that our

128、 CMOs scored weakest in were:T-Shaped Skills,Personal Network,GTM Connectivity,and Financial Acumen.T-Shaped skills was the lowest scoring building block in our Board-Readiness Framework.Burggraeve describes T-Shaped skills as building boardroom capital i.e.,strengthening your top and bottom skills

129、in the T expertise model.The base of the T represents a CMOs functional skills like brand management,creativity,or media strategies.The top of the T reflects the cross-disciplinary skills that a CMO must master to become a part of a high-performance board team.The reality is,youve just spent 20+year

130、s of your career becoming the best marketing leader you can be,and now you need to be the best marketer at finance,operations,law,compliance,and all other business areas as well.When asked which T-Shaped skills(or areas of expertise)they had,only a third of the CMOs could give an answer.67%said None

131、.“Winning a board role just purely your marketing skill set is a hard one to pitch.Unless you can bring something new or different or incredibly useful.”DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COMFigure 9:T-Shaped skills in B2B CMOs33%of B2B CMOs have T-Shaped skillsONLYWhen we look at the res

132、ults of the survey,only a few small number of B2B CMOs had a strong level of well-rounded knowledge and insight in highly-sought after areas the board would consider valuable i.e.,International Relations,Corporate Governance Human rights,Auditing,or Business Law.Also,very few B2B CMOs had direct inv

133、olvement/experience in other board-valuable business initiatives like Fundraising,Ethics Management and Government Relations.Transmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.Development15|BUILDING THE BOARD-READY CMOArguably,improving your personal brand and marketin

134、g yourself takes a lot of time and commitment,and many CMOs are so focused on elevating their marketing expertise,they can often neglect to highlight their wider business credential,achievements,or experiences.Networking is all about establishing and cultivating relationships,yet 75%of the CMOs with

135、 board role ambitions told us they typically spend 20 hours or less a month networking with senior executives,CEOs,and other board members inside and outside of their company.Thats just five hours or less a week,which may not be enough if you want to attract board member attention and strengthen int

136、erest in you as a potential candidate.Thankfully,the B2B CMOs who are successfully serving on boards today gave us some great networking advice and tips that helped them to build up a list of board mentors and connections:TIP 1:Write down your answers to three important questions:1.Why do I want to

137、serve on a board?2.What are the key things I stand for and the value I can offer?3.What can I bring to a board that makes me different or unique?4.Turn your answers into a short bio for your profile or a soundbite that you can use and practice during networking events and interviews.TIP 2:Talk to yo

138、ur CEO and ask if he/she knows of anyone in the industry looking for new board members.Ask your CEO for a personal endorsement or testimony,and if they can listen out for any opportunities that might be of interest.2.PERSONAL NETWORK Personal Network was the second lowest scoring building block in o

139、ur Board-Readiness Framework.Writing a board bio,updating your LinkedIn profile,and attending networking events seems like the easiest building block to master.Yet surprisingly,just over 50%of the B2B CMOs surveyed admitted that their board profile and professional network wasnt strong.KEY AREAS FOR

140、 DEVELOPMENT50%75%of B2B CMOs admit that their board profile and network isnt strongof B2B CMOs spend less than 20 hours a month on networking with senior business professionalsOVEROVERTIP 3:Widen your network to members of the investment community,private equity groups and the venture capitalist co

141、mmunity.Contacts in management consultancies,law firms,and accounting companies would also be valuable connections to build.TIP 4:Invest the time in face-to-face networking.Visibility is key.Those in your network want to get to know you as a human being and build a natural rapport with you to help a

142、ssess is your character strengths and personality fit for their boardroom environment.TIP 5:Dont be shy.Confidently tell people youre looking.Market yourself in the same way youd run a new product campaign or brand launch.16|BUILDING THE BOARD-READY CMO16|BUILDING THE BOARD-READY CMO3.GTM CONNECTIVI

143、TY KEY AREAS FOR DEVELOPMENTWe can see from the table(figure 10),that full marketing responsibility is higher in areas associated with the P of Promotion i.e.,brand strategy,marketing comms strategy,and CX.When it comes to the other Ps,we can see that only 42%of B2B CMOs have full responsibility for

144、 product strategy and product-market fit.An even lower 33%have full responsibility for distribution strategy and 32%for pricing strategy.In these 3Ps,we can see clearly that marketing is only partly responsible or has no responsibility at all.GTM Connectivity is the third lowest scoring building blo

145、ck in our Board-Readiness Framework.Marketing should be in control of the GTM strategy.After all,the M in GTM is for Market.Once upon a time,all 4Ps(product,price,place,and promotion)were neatly aligned to a CMOs goals and KPIs,but now the ownership structure looks very different.Each of the 311 B2B

146、 CMOs surveyed told us which GTM elements they had ownership and responsibility for in their organization today,see figure 10.42%32%of B2B CMOs have full responsibility for product strategyof B2B CMOs have full responsibility for pricing strategyOwn the relationship and connectivity between Sales,Ma

147、rketing,Product and Customer Experience.Successful CMO are those at the pivot of the customer agenda and driving all of those things.If you are not,youre just going to be told by each of those people(Head of Sales,Head of Product etc)what to do.”DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COM“Play

148、ing a lead role in the GTM is where you can start to differentiate yourself as a commercial leader and creating value.CMOs should feel comfortable with product and pricing discussions,and in helping to shape the business models that can contribute higher growth and higher margin.”SONITA LONTOH,PUBLI

149、C COMPANY BOARD DIRECTOR AND FORMER FORTUNE 100 TECHNOLOGY EXECUTIVE.Figure 10:GTM areas of marketing responsibilityTransmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.17|BUILDING THE BOARD-READY CMO4.FINANCIAL ACUMEN KEY AREAS FOR DEVELOPMENTin leadership or board meet

150、ings.40%admit they feel comfortable,and 22%not at all comfortable.When asked to rate their proficiency in reading and evaluating a range of financial statements,measures,and metrics,48%of CMOs surveyed rated themselves as good but only 18%labeled themselves as expert.The financial statements,reports

151、,and measures that B2B CMOs feel most comfortable and least comfortable evaluating are shown in the table in figure 11.We can see one of the more common marketing metrics,Return on Investment(ROI)gets the highest comfort vote,whereas measures and metrics like operating margin,EBITDA,and LTV:CAC rati

152、os make our CMOs feel least comfortable.Knowing that only 31%of CMOs are actually asked by their board to report on LTC:CAC results,we can now understand why the comfort level is so low.Financial Acumen is the fourth lowest scoring building block in our Board-Readiness Framework.We heard it over and

153、 over again in our board director interviews and our preliminary research:If you want to be considered for a board seat,CMOs need to be financially literate.This is the foundation skill.The table stakes to being seen as credible.As Burggraeve advises:“You dont necessarily need to be a finance or acc

154、ounting expert,but at the very least,understand the connection between marketing and finance,and become fluent in three key statements:the P&L,balance sheet and cashflow,as well as in the key decisions related,and to corporate finance (the investment decision,the financing decision around debt/equit

155、y,and the dividends decisions).”You may not be surprised to read that just 16%of the B2B CMOs surveyed positioned themselves as the Financially Savvy CMO archetype who is great at digging deep into financial results/reports and tracking marketing contribution to commercial results.38%of B2B CMOs say

156、 the feel very comfortable in participating or contributing to financial discussions“Deepen your financial skills.You dont have to be an expert,but you do have to understand all the financial statements and be able to spot the trends of those statements and understand the drivers that can affect tho

157、se metrics over time.Capital structure is a common boardroom discussion how much equity,now much debt,capital allocation decisions,be it to grow organically,to pursue M&As,to return money to shareholders,either through dividends or buybacks,etc.CMOs need to feel comfortable contributing to those dis

158、cussions in the boardrooms.”SONITA LONTOH,PUBLIC COMPANY BOARD DIRECTOR AND FORMER FORTUNE 100 TECHNOLOGY EXECUTIVE38%16%of B2B CMOs feel very comfortable contributing to financial discussions in leadership or board meetingsof B2B CMOs positioned themselves as a Financially-Savvy CMOOnlyJustFigure 1

159、1:The metrics B2B CMOs report on during board meetingsTransmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024.18|BUILDING THE BOARD-READY CMOOver the last decade,the role of the CMO has evolved so much youd be forgiven for mistaking them for The Chief Multipurpose Officer.N

160、o longer confined to areas like brand building,ABM campaigns,and media strategies,CMOs now have a wider remit that can incorporate data science,generative AI,and ESG reporting to name a few.WHICH CMO ARCHETYPE ARE YOU?Great at fostering cross-functional collaboration and stakeholder relationships ac

161、ross the C-suite.THE COLLABORATIVE CMOGreat at understanding and embedding the latest digital strategies,technologies,and platforms.THE DIGITAL CMOGreat at understanding market dynamics,categories,and problems and being the voice of the customer across the buyer journey.ABTHE MARKET-CENTRIC CMOGreat

162、 at developing compelling narratives and stories that build brand equity and trust.THE BRAND BUILDING CMOGreat at building strong teams and smooth processes that enhance the speed,agility,and scalability of marketing.THE OPERATIONAL CMOGreat at creative thinking and bringing big ideas to life that g

163、rab attention and stand out.THE CREATIVE CMOGreat at digging deep into financial results/reports and tracking marketing contribution to commercial value.THE FINANCIALLY-SAVVY CMOGreat at being closely aligned with sales and driving demand and pipeline opportunities.THE REVENUE CHASING CMOGreat at ex

164、amining data and numbers,being objective,and applying critical thinking to decisions and plans.THE ANALYTICAL CMOGreat at understanding bigger picture,vision,and direction for the company,and building strategic programs to get there.THE STRATEGIC CMOGreat at initiating bold,breakthrough approaches a

165、nd experimenting with new technologies and techniques.THE INNOVATIVE CMOAs part of the benchmarking study,we asked our 311 recipients to tell us which CMO archetype would describe their strengths in the role today.Each CMO was asked to select their top two answers from the options shown below and ra

166、nk then in order of best fit.Its a shift that presents CMOs with a great opportunity to influence business strategies and contribute to cross-functional decision making outside of the marketing department.Could this be the chance CMOs need to prove their value and attract board member attention?And

167、if so,are they ready to reframe their position and become leaders in building sustainable business growth?19|BUILDING THE BOARD-READY CMOWhen asked to select the two archetypes that best described our B2B CMOs in their role today,we can see from the chart in figure 12 that is The Strategic CMO and T

168、he Creative CMO closely followed by The Innovative CMO and The Market-Centric CMO.The lowest fitting archetypes were The Collaborative CMO and The Financially-Savvy CMO.THE STRATEGIC CMO VOTED BY 38%OF B2B CMOSWhen combining each CMOs top two answers,we can see that 36%of the CMOs surveyed described

169、 themselves as the Strategic CMO:great at understanding the bigger picture,vision and direction for their company,and building strategic programs to get there.A board is all about making difficult choices.Weighing up the monetary and non-monetary opportunities against the risks,validating business p

170、lans,and deciding on the best route for maximum stakeholder and shareholder value.Knowing that over a third of CMOs believe they can offer a strong strategic view on the business,not just marketing strategy,should get the hearts of board members racing and is a positive sign for the future.THE COLLA

171、BORATIVE CMO VOTED BY 10%OF B2B CMOS Only 13%of the CMOs surveyed described themselves as The Collaborative CMO(10%),the second lowest archetype identified.McKinsey14 analysis found that high-growth companies are seven times more likely to have a“Unifier”CMO someone who is a master at fostering robu

172、st,collaborative partnerships across the C-suite by articulating in language their executive peers can understand.And as a result,they were given more P&L responsibility,their budgets were less likely to be cut,and they enjoyed a 48%longer tenure period.14THE CREATIVE CMO VOTED BY 30%OF B2B CMOSThe

173、second highest result however,positioned CMOs into an archetype were all familiar with The Creative CMO(30%):great at creative thinking and bringing big ideas to life that grab attention and stand out.Ordinarily,CMOs who can personally come up with the next big original idea would be welcomed with o

174、pen arms by the CEO and leadership team,especially in markets where competitive stand out and distinction is a critical ingredient to any form of market growth.Yet in boardroom circles,having a creative-led brain isnt such an advantage.THE FINANCIALLY-SAVVY CMO VOTED BY 8%OF B2B CMOS The archetype t

175、hat the CMOs surveyed identified with the least was The Finanically-Savvy CMO.Only 8%of the respondents believed they were great at digging deep into financial results and reports,and being able to track marketing contribution to commercial value.Finance and accounting literacy is one of the biggest

176、 must have skills in the boardroom.The majority of boardroom conversations are centered on P&L,balance sheet,and cash flow and the drivers and dynamics that affect their health and performance.CMOs need to feel comfortable not just reading these statements,but also being able to analyze and approve

177、them.Alongside this,being comfortable with operating margins,return on investment,efficiency metrics,financial controls,and risk management practices is also very important.WHICH CMO ARCHETYPE ARE YOU?B2B CMO ArchetypesTransmission-NewtonX Building the Board-Ready CMO in B2B study,May to June 5,2024

178、.(14)McKinsey article.Marketings moment is now:The C-suite partnership to deliver on growth June 20,2019.20|BUILDING THE BOARD-READY CMOCONCLUDING REMARKSAs the results of our survey show,its likely that youre well on the way to becoming a board-ready CMO.Certainly,the 92%of B2B CMOs who rated their

179、 chances of ever winning a board seat as low,should be more forthcoming about their ambitions.Of the eight building blocks,most marketing leaders are excelling in a few areas and are highly competent in others.Attention,however,should be given to the biggest areas of CMO weakness:GTM Connectivity,T-

180、Shaped skills,Financial Acumen,and building a stronger personal network which,arguably,are areas the board care about the most.To help you take the next step in your board-readiness journey,here are five practical takeaways you can begin to action over the coming six months:1.Nurture your relationsh

181、ip with the CEO so they become your personal sponsor and ally to board-readiness.Be honest with them about your board ambitions and gain their approval early in the process.Your CEO can serve as a reference for future interviews but can also be a tremendous source of board connections and leads.2.St

182、rengthen your role in the connectivity and control of the GTM strategy.If you cant own GTM,then influence it.Being proactive about the 4Ps will demonstrate your capability to drive business growth.The key to tracking and proving your efforts is to focus on CAC and CLTV,your two crucial indicators of

183、 marketing effectiveness.Make sure you can connect your teams work to these metrics.In doing so you can adopt a long-term perspective to demonstrate your dedication to sustained growth and overcome the short tenure reputation associated with CMOs.3.Make financial literacy your new superpower.Raise y

184、our hand for extra training and coaching in how to read financial statements(especially the P&L)and learn how to master efficiency ratios like LTV:CAC and magic numbers.Understand why these ratios exist and the drivers that can improve on them.Ask your CFO if you can see a preview of any financial r

185、eports before leadership or board meetings take place so youve time to digest the data and correlate the commercial impact marketing is having on the business.A few board-serving CMOs told us that a good practise activity is to take your CFOs slides and try to give the presentation to yourself.Out l

186、oud.Dont just read it.Its much harder than you think,but it helps!4.Expand your T-Shaped skills.The board needs well-rounded people that can take look at a business holistically.Look for any opportunities to build your skill base outside of marketing and get involved in growth initiatives that are c

187、onsidered transformative to the business.If these opportunities are not presented to you,then ask for them.Its the fastest way to get a stronger strategic view on the business.5.Prepare and perfect your pitch.How do you(quickly)describe your value to a board member and why as a CMO you can offer a u

188、nique and diverse perspective?And remember,the best way to find out what they need is to stop talking and practice listening.Boards need people who can discuss and analyze information presented to them.Reflection,supervision,and objections skills here are key.By focusing on these areas,you wont only

189、 improve your own board-readiness,but youll improve your value within your organization board seat or not.Reaching the board is in your control if you follow the Framework,stay committed,and stay open and dedicated to new opportunities outside of marketing.Its important to note that CMOs cant be hel

190、d fully accountable for winning more board seats.Our research has highlighted that boards themselves need to review and reflect on the opportunities theyre giving to CMOs to showcase their value.If they dont invite CMOs to present LTV:CAC ratios or make them accountable for pricing strategies or P&L

191、 success,then CMOs will find it increasingly hard to learn and develop these skills.In other words,if you dont ask,you dont get!Well leave you with a final thought and quote from a former CMO,CEO,and board investor Doug Bewsher.“I would say that theres nothing that I had learned from my marketing ex

192、perience that was useful to me on the board.My consultancy experience,absolutely.My strategy,yes.My CEO experience,finance and managing teams,yes!But marketing?Not really.”DOUG BEWSHER,BOARD INVESTOR,EX-CMO SALESFORCE.COM21|BUILDING THE BOARD-READY CMOMETHODOLOGY AND SPECIAL MENTIONSRESEARCH METHODO

193、LOGY We collaborated with NewtonX,a leading B2B research firm to conduct this first-of-its-kind study.Our goal was to understand how CMOs are perceived by boards and why CMOs in B2B organizations often lack board presence.And to provide guidance for CMOs to secure board positions commensurate with t

194、heir expanded responsibilities.Our approach entailed two steps.Step 1:Develop the Board-Readiness Framework To create a evidence-based Framework outlining the necessary skills,capabilities,and behavioral traits for CMOs to be board-ready,we conducted interviews from two viewpoints:1.Board Directors:

195、We interviewed six executive and non-executive board directors from both public and private B2B boards,all actively involved in selecting new members.2.B2B CMO Board Members:We interviewed 12 CMOs from B2B organizations,either currently serving on corporate boards or with previous board experience.S

196、tep 2:Assess B2B CMO Board-Readiness To gauge CMOs proficiency across the eight building blocks outlined in the Board-Readiness Framework,we surveyed 311 B2B CMOs from enterprise organizations(500-5000+employees)spanning various industries.The majority of respondents hailed from IT/software/technolo

197、gy,financial services,manufacturing,transport and logistics,healthcare,pharmaceutical,and legal services sectors.We established scoring criteria for the 30-question survey to track CMOs progress on their board-readiness journey.These scores were consolidated to offer a comprehensive assessment of cu

198、rrent board-readiness among B2B CMOs,spotlighting areas of strength and those requiring development.SPECIAL MENTIONS Thank you to all the B2B CMOs whove given up their time to enlighten us with their stories,experiences,and valuable advice.A special mention also to Chris R.Burggraeve,who helped us i

199、nitiate the ideas and structural thinking behind Building the Board-Ready CMO in B2B and inspired us with his latest book The Ultimate CMO to Scare Board Seats,which you can download for free by visiting:22|BUILDING THE BOARD-READY CMOABOUT TRANSMISSION AND NEWTONXTransmission is the worlds largest

200、independent global B2B marketing agency.Our mission is to elevate the role of marketing to the board,combining data-driven intelligence with curiosity,creativity,and innovation to craft powerful,behavior-changing engagement with audiences to create lasting impact and success.With offices in eight co

201、untries worldwide,Transmission has the global agility and experience to help B2B brands drive the now and define the next.To learn more,head to The worlds leading businesses find their advantage with NewtonX.NewtonX is the only B2B research company that solves the challenges of todays insights leade

202、rs by connecting them with verified business expertise.Their AI-driven algorithm the NewtonX Graph custom recruits the perfect audience for your business question from an open network of 1.1 billion professionals across 140 industries.Every professional is 100%verified,so you can make your next bold move with confidence.Together with their clients,NewtonX is ushering in a new standard of truth in B2B insights.To learn more,head to .VISIT NOWVISIT NOW