Hiring a CMO is one of the most challenging—and risky—decisions for a CEO:
- Marketing is often critical to the company’s growth thesis.
- Marketing is often misunderstood: Everyone THINKS they understand marketing, but often they don’t.
- Marketing ROI doesn’t happen overnight: Companies can expect results more quickly than is reasonable.
Just finished this season of The Get podcast, which is all about The Race to Reduce Risk in CMO Recruiting.
Thank you to my amazing guests for discussing this meaty topic with me!
Check out the recap episode here. There are lots of insights, whether you’re looking to hire your next SaaS CMO or looking to be hired.
Some highlights on how to reduce risk when hiring a CMO:
- Align on timelines for value creation, realizing that “marketing works more like product development than sales.” You wouldn’t reset your product roadmap every quarter and expect success. So be mindful that big marketing pivots take time to show results.
- Ask candidates upfront questions like: How do you balance short-term results with longer-term brand investments? How would you balance brand-building with demand gen priorities? What’s your plan if PMF is weak?
- Consider your appetite for brand-building, which can take several quarters of sustained investment. So if the appetite for that is missing, put the resources elsewhere.
- Know that if product market fit is slipping, your CMO likely can’t fix that alone.
- Understand that “the best CMOs add value when they focus on a well-defined ICP and clear growth priorities.”
- Co-create the role: Work with candidates to define and refine the role.
- Ask for education: Top CMOs are Chief Marketing Education Officers. Ask them to teach you—on ABM, ICPs, or demand strategy.
- Test the waters: Consider a fractional or advisory role first to see fit.
- Get clear on your company’s needs, expectations, and readiness for change. “Sometimes innovation is needed but not wanted.”
For other episodes of The Get, check out www.thegetpodcast.com