CMO Profiles for Success Look Like This
Most U.S. CMOs are female, all American CMOs are raised here, less than a third have educations beyond bachelor’s degrees and they’ve worked at the companies five years before they spearhead marketing efforts, according to research released today by Act-On Software.
The “CMO Index Report” also compares and contrasts U.S. CMOs with those from the U.K.
The announcement about the research states: “The study, which drew on data from the FTSE 100 (a share index of the 100 U.K. companies with the highest market capitalization) and the Inc. 500 list of mid-market companies (businesses with a revenue range of [$50 million to $1 billion], employee size of 100-10,000), sought to clarify and understand what the modern CMO looks like — their typical background, their qualifications, their pedigree; [by examining] about 70 CMOs (or equivalent titles) in the U.S., about 80 in the U.K.”
Here are the key takeaways from Act-On’s report:
Gender Matters to Career Advancement
Act-On finds that women advance to the C-suite marketing position more often than men — with 56 percent of women holding the title of CMO at the examined U.S. firms.
Act-On’s announcement admits this is “higher than can often be expected for executive roles, and perhaps the result of larger conversations around corporate diversity.”
(In the U.K., though, it’s the inverse: 60 percent of the CMOs are men.)
Education Carries Weight
“[About] 30 percent of CMOs in the U.K. and U.S. have master’s certifications and higher,” according to the announcement.
Career Success Can Be a Waiting Game
U.S. CMOs work at their companies for about five years before being promoted, while British ones work twice as long. Act-On’s research announcement also states that before American CMOs join the companies where they eventually serve in the C-suite, they’ve worked at an average of four other firms.
Talent Is Often Homegrown, and Promoted From Within
“The majority of CMOs analyzed in the U.S. and U.K. are native to the two countries — 70 percent in the U.K. were British-born, 100 percent in the U.S. were American-born,” Act-On states.
Nearly all CMOs are elevated at their own companies, with agency experience “no longer much of a credential.”
What do you think, marketers?
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Related story: CMOs May Move to AI as TV, Global Ad Spend Dips