Christopher Lochhead Follow Your Different™

069: Advice For The Newly Hired CMO


Listen Later

I know you know this, but I'm going to say it any way - As CMOs we don't have long. CMO tenure is 44 months. My spider senses say it is less in Silicon Valley / The Tech World.




We come into companies with much enthusiasm and tons of CEO and board support. Within 2 years or so, our IQs drop to our shoe sizes and they are starting to think about firing us. So we have to work fast! ;-)




In the 1st 90 days set up 3 teams to tackle two tactical areas and one strategic. 


In the 1st 90 days tactically, find three things that increase revenue. Could be:







  • growth hacking



  • lead generation



  • website performance



  • social marketing



  • killer demo/new presentation for the salesforce



  • product bundle/pricing change



  • sales channel programs/incentives



  • sales training



  • etc






  • In most companies there is low hanging fruit that will make a noticeable improvement in revenue quickly. CEOs, CFOs and CROs want results now. Give it to them. Don't be confused, revenue is the CMO's job - even if you have a VP of Sales/CRO/CSO.




    Driving revenue is the CMO's job.




    In the 1st 90 days tactically, find three things that decrease cost. Could be:







  • trade show budget (events are often the biggest expense)



  • ad budget



  • head count



  • PR



  • travel



  • etc






  • The CEOs and CFO love costs reductions and improving productivity. Just like on the revenue side, in most companies there is low hanging fruit that will make a noticeable improvement in cost. Cut some costs. Make it happen. Cost reduction is our job.




    In the 1st 90 days strategically partner with the CEO & exec team to design a category strategy by addressing:







  • how we are taking control of the agenda in our category



  • how we want the category to think about problems and solutions



  • how to frame and evangelize the problem powerful



  • create a provocative point of view that sets a new agenda and grab the attention of the space



  • de-position all of our competition as the "from" and us as the "to" 



  • mobilize the whole company to become the category king & win






  • Legendary CMOs are category designers. They don't just do marketing within markets - they create the markets. Who would you rather be, Steve Jobs or Steve Ballmer. (one guy design categories, the other guy competed).




    Legends do not position their brand against existing companies in existing categories with a "we are better than them" strategy. They design new categories with their rules, so they can win with a "we are different from them" strategy.




    For the love of God, Please don't fall into the re-branding trap. Many CMOs think branding fixes everything. NO. Categories make brands,

    ...more
    View all episodesView all episodes
    Download on the App Store

    Christopher Lochhead Follow Your Different™By Christopher Lochhead

    • 4.6
    • 4.6
    • 4.6
    • 4.6
    • 4.6

    4.6

    530 ratings


    More shows like Christopher Lochhead Follow Your Different™

    View all
    The James Altucher Show by James Altucher

    The James Altucher Show

    2,497 Listeners

    The GaryVee Audio Experience by Gary Vaynerchuk

    The GaryVee Audio Experience

    16,790 Listeners

    Founders by David Senra

    Founders

    1,870 Listeners

    Masters of Scale by WaitWhat

    Masters of Scale

    3,989 Listeners

    The Game with Alex Hormozi by Alex Hormozi

    The Game with Alex Hormozi

    4,327 Listeners

    Ken McElroy Show by Ken McElroy

    Ken McElroy Show

    718 Listeners

    My First Million by Hubspot Media

    My First Million

    2,620 Listeners

    Lochhead on Marketing by Christopher Lochhead

    Lochhead on Marketing

    186 Listeners

    The Next Big Idea by Next Big Idea Club

    The Next Big Idea

    1,271 Listeners

    Huberman Lab by Scicomm Media

    Huberman Lab

    28,268 Listeners

    WorkLab by Microsoft

    WorkLab

    60 Listeners

    The Startup Ideas Podcast by Greg Isenberg

    The Startup Ideas Podcast

    187 Listeners

    Moonshots with Peter Diamandis by PHD Ventures

    Moonshots with Peter Diamandis

    472 Listeners

    BigDeal by Codie Sanchez

    BigDeal

    728 Listeners

    AI Explored by Michael Stelzner, Social Media Examiner—AI marketing

    AI Explored

    78 Listeners