Our work within MarketPro focuses heavily on marketing executive search. Half of what we do is chief marketing officer executive search.
We’re currently working on a Chief Marketing Officer (CMO) executive search for a high-growth company — $350 million in revenue, PE-backed. They’ve gotten to where they are by marketing in one specific way with a VP-level person, and now they’re looking to upgrade to their first true CMO to take the business to the next level.
One of the conversations we’re having is: Is it okay for someone to be a first-time CMO — meaning they’re in a bigger organization now and are coming into a smaller company — or do we need a proven CMO?
First-Time CMO vs. Proven CMO: What’s the Real Difference?
The reality is, the CEO is open to either. So then it’s our job as the executive search partner to counsel him:
- What does that mean?
- What might a first-time CMO not understand?
- Where could a first-time CMO get tripped up that an experienced CMO won’t?
The marketing and leadership skills are often there. If they’re coming from a larger organization, they likely manage as big a team—or even bigger—than they will in this new role, even if they’re not currently the CMO. They’ll bring discipline in budget management and analytics, and a lot of rigor to the table. But now they’re stepping into their first CMO role.
What could they be missing? Where could they fall down?
The first thing is you don’t know what you don’t know.
How Long Does a New CMO Really Have? Expectations by Company Size
There are expectations from the CEO as to how long it’s going to take, for a first-time or experienced CMO, to put a full marketing plan in place, to develop a full staffing plan, and to start executing and iterating based on testing and learning.
That varies depending on the size of the organization. Let’s go through some examples:
Small VC-Backed SaaS Company (~$15M Revenue)
If you’re a first-time CMO in a small, venture-backed SaaS business aiming to grow significantly, you likely have about 60 days to get a full-blown staffing and marketing plan in place. Anything longer, and the CEO, board, and VC firm may start to wonder if they hired the right person.
The most important part is communicating with the CEO to align expectations. First-time CMOs often make assumptions based on where they’ve been before, typically a larger organization, and lose track of how fast a smaller company wants to move. Before they know it, they’re behind the eight ball.
Mid-Market, High-Growth Company (~$350M Revenue)
In a company like this, PE-backed and not in software but still high-growth, you typically have 90 to 100 days before you will be expected to have your full marketing plan in place. During that time, you will need to:
- Assess the business
- Understand where marketing stands
- Identify areas for improvement
- Determine where marketing is falling short — often in analytics, measurement, performance marketing, and return on advertising spend
Large Organization ($1B–$10B Revenue)
In organizations of this size, it becomes harder to be hired as a first-time CMO. These companies typically want an experienced CMO. But if a first-time CMO is hired, they probably have about six months to put a full marketing and staffing plan in place.
So those are some general timelines. But as a first-time CMO, you don’t know these expectations unless you ask.
Own the Role, Ask the Right Questions
If you assume you have time to learn and don’t set specific deadlines for marketing or staffing plans, you’re likely to miss critical expectations. The most important thing is alignment with the CEO.
And it’s not their job to tell you.
At the C-level, it’s your job to figure out what expectations are. It’s your job to own those expectations and exceed them. If you don’t understand how long you have to put a strategy and team in place, that’s because you failed to ask the right questions, not because the information wasn’t shared.
Another thing that is critical for a first-time CMO is to understand the importance of building relationships with your peers. In addition to being on the same page with the CEO, you need to have a trusted relationship with your peers in finance, product, sales, etc., within the first two months.