CMO role gains enduring relevance as its future strengthens, says WFA report
By Felicia Nwosu
The Chief Marketing Officer isn’t going anywhere, that at least, not anytime soon. The position of Chief Marketing Officer (CMO) is becoming more secure, with fewer marketers questioning its long-term relevance. A recent study by the World Federation of Advertisers (WFA) reveals that only 10% of global marketers foresee the role disappearing within the next decade, down from 19% recorded five years ago.
Findings from the WFA’s Marketer of the Future report, which surveyed 600 companies across 25 countries with a combined marketing budget of approximately $90 billion, indicate a growing recognition of the CMO’s strategic importance. The research also features insights from top industry executives, including Diageo’s Cristina Diezhandino and Haleon’s Tamara Rogers.
It further indicated that when assessing their ability to balance traditional marketing foundations with modern advancements, 75% of high-performing marketing leaders report successfully achieving this equilibrium, compared to 59% of those still striving to find the right mix.
The study revealed that the value of executive influence, with 43% of top-performing marketing leaders highlighting the importance of C-suite involvement, which nearly double the 23% observed among struggling marketers. Additionally, 46% of leading marketers hold high-ranking leadership positions, reflecting their expanding authority within corporate structures.
Success in marketing, according to the research, hinges on a dual approach: maintaining core marketing principles while embracing innovation. While emerging trends can sometimes overshadow foundational marketing strategies, the most accomplished marketers are ensuring a balance. Around 63% of top-tier marketers affirm that their organizations have solid brand-building, strategic planning, and creative fundamentals in place, compared to just 39% of under-performing peers.
Diezhandino stresseed that while the core principles of marketing remain unchanged, businesses must continuously refine their skill sets, tools, and operational frameworks to unlock their brands’ full growth potential.
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