13 Questions All New CMOs Should Ask In Their First 90 Days – Part 1

1. Which metrics matter to the organization?
It’s essential to understand which metrics the organization values. Are return on investment (ROI) and return on marketing investment (ROMI) the most important metrics? It turns out that many organizations don’t really value return on investment or return on marketing investment. Outside of the annual budgeting process, many organizations are driven by “making their numbers,” which is generally topline revenue-oriented.

So the real question becomes: Which metrics or key performance indicators does your organization value? It is critical to prioritize those metrics, as sometimes conflicts occur. In other words, an organization can value return on marketing investment and topline revenue, but when push comes to shove, a prioritization will be necessary for clear decision making. This can help guide decisions such as targeting a wider universe that will have a diluted response or conversion rate versus targeting a more focused universe that will generate a higher response or conversion rate.

It’s also important to consider all of the metrics and forms of evaluation that the organization values relative to individual channels. Many marketers are turning to more measurable mechanisms for marketing activities. It’s critical to understand and explore how individual channels are deemed a success or failure.

2. Prioritization of objectives.
Most organizations have more objectives than they do time in the day. This was underscored in a study we conducted among senior marketers. Marketers said their number-one challenge is “too many priorities and not enough resources.”

Of course, we all know that everything in marketing communications works better with focus.

One of the first steps we typically recommend that new marketing leaders go through is a prioritization of objectives. Not just listing or reviewing all the objectives, but forcing the organization to prioritize. This is typically tougher than it seems, but the clarity can be utilized as an effective benchmark for evaluating current marketing activities and associated marketing expenditures. And it also provides fodder for refining current marketing programs, channels and efforts.

3. What are our biggest marketing challenges?
In meeting marketing leaders, I’ve always found the answer to one simple question to be very revealing. Asking marketing leaders what “their biggest marketing challenge is” provides insight into whether market forces, competitive pressure or operational and cultural challenges are getting in the way of success. This is also an interesting question for new CMOs to ask their peers.

It’s also worth considering how your company’s marketing challenges are different from those of other companies? Interestingly, the leading challenge that marketers cite, at 40%, is too many priorities and not enough time. Shrinking internal resources is next, with 29% of marketers stating this is their greatest challenge. It seems these two challenges could be somewhat related.

About a quarter of marketers also stated that they are facing shrinking budgets and pressure to ensure their budgets tie to measurement.¹ Too many priorities and not enough time, shrinking budgets as well as shrinking internal resources all have a similar theme and similar organizational implications.

4. How are we currently spending our budget against these objectives?

A thorough budget review is an initial step for most new heads of marketing. One of the questions you might want to ask during the budget review is how the budget is allocated against objectives. Surprisingly, most companies determine spending a number of different ways but don’t always go through the step to align their priorities to the budget.

Justifying marketing spend is a daily activity for many CMOs. Shrinking budgets and accountability are two common themes. Dissecting how the budget aligns with the objectives tends to be a worthwhile and revealing activity.

5. Which channels match our objectives the best?
Analyzing how channels marry to objectives may reveal a lack of alignment. The budget allocation by objective activity mentioned earlier in this article is an exercise that can ensure all marketing efforts are being put against the goals that matter most.

6. Is a balance of short-and long-term strategies being employed?
Many companies have a lot of pressure to deliver now. As a result, many marketers are only focused on short-term approaches and not necessarily focusing on building toward the future. The reality is that prospects and customers go through a lifecycle. Unfortunately, when the focus becomes too short-term focused, there isn’t enough effort put toward building the next critical group of prospects or customers.

Realistically, not all prospects are ready to buy right now. It’s important to have a mix of marketing activities that target identifying and nurturing future groups of prospects. It’s important to go through an initial assessment to determine how your marketing efforts are aligning with today’s and tomorrow’s goals.

7. What is our point of difference?
This question is pretty straightforward, yet surprisingly, it isn’t always a question that gets a consistent answer. Fairly often the articulation of the value proposition and point of difference are delivered in different terms by different people. This is a great question to ask as many people as possible. This can help you formulate what the real point of difference is, from what people articulate as the point of difference.

8. How does the culture embrace change?
Culture is typically a question that CMOs feel they had answered somewhat during the interview process. However, more homework in this area never hurts. Willingness to innovate and evolve is likely going to have an influence on how a CMO wants marketing activities to progress and at what pace.

The reality though is that the cultural temperament is essential to the success or failure of many CMOs. The best ideas can fail without proper organizational support. Gauging this early in the process can ensure a CMO doesn’t end up sabotaged for implementing the right ideas at the wrong time.