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

    529 ratings


    More shows like Christopher Lochhead Follow Your Different™

    View all
    The James Altucher Show by James Altucher

    The James Altucher Show

    2,502 Listeners

    The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch by Harry Stebbings

    The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

    533 Listeners

    The Knowledge Project by Shane Parrish

    The Knowledge Project

    2,682 Listeners

    Startups For the Rest of Us by Rob Walling

    Startups For the Rest of Us

    703 Listeners

    The a16z Show by Andreessen Horowitz

    The a16z Show

    1,091 Listeners

    The StoryBrand Podcast by StoryBrand.com

    The StoryBrand Podcast

    1,934 Listeners

    The SaaS Podcast: Build, Launch & Scale Your SaaS by Omer Khan

    The SaaS Podcast: Build, Launch & Scale Your SaaS

    187 Listeners

    Founders by David Senra

    Founders

    2,162 Listeners

    2Bobs—with David C. Baker and Blair Enns by David C. Baker and Blair Enns

    2Bobs—with David C. Baker and Blair Enns

    260 Listeners

    Masters of Scale by WaitWhat

    Masters of Scale

    3,991 Listeners

    My First Million by Hubspot Media

    My First Million

    2,655 Listeners

    All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

    All-In with Chamath, Jason, Sacks & Friedberg

    9,926 Listeners

    ACQ2 by Acquired by Ben Gilbert and David Rosenthal

    ACQ2 by Acquired

    281 Listeners

    BG2Pod with Brad Gerstner and Bill Gurley by BG2Pod

    BG2Pod with Brad Gerstner and Bill Gurley

    464 Listeners

    BigDeal by Codie Sanchez

    BigDeal

    921 Listeners