The narrative has shifted. CMO tenures, according to Spencer Stuart, have doubled to 48 months over the past decade. The CMO is finally getting the respect they’re due.
The CMO’s currency whose value has compounded most appreciably. The CMO’s currency is the customer—customer voice, value, valence and, often, the experience itself:
- Customer voice combines direct, indirect and inferred feedback to provide insight into customer needs, motivations, goals, satisfaction and sentiment.
- Customer value is the economics of a customer relationship, from the cost to acquire to cost to the serve, to purchase frequency, to order value and, ultimately, lifetime value.
- Customer valence represents the positive and negative changes in these things over time
- And the customer experience is the sum of every branded interaction, pre- and post-sales.
Bad timing by Jake Sorofman: see the previous scoop that notes a drop to 44 months from last year. See those four bullet points? Better have tangible attribution.