5 Trends Shaping The CMO Role and CMO Recruiting in 2023
Chief Marketing Officers (CMOs) offer companies the ability to become major players in the markets they serve. With the help of a CMO, companies are able to align their marketing functions for brand value optimization, market share increase, and higher revenue generation. But amid rising inflation, market disruptive developments, and changing consumer behavior, the trends shaping CMO roles have changed.
Find out about key trends influencing CMO roles and CMO recruiting in 2023, along with insights into managing CMO recruitment from top CMO executive search consultants.
1. Record Rise in Digital Buying
A significant percentage of consumers across industries prefer digital buying over in-person visits. Whether it is about buying home appliances or industrial tools, customers prefer completing the transaction online or through their mobile apps. The changing trends of consumer discovery of products and services and their purchase force a change in the entire spectrum of marketing and market intelligence activities.
CMO recruitment consultants point out that this trend has had a major impact on CMO role definitions and hiring patterns. Companies want their future CMO to be someone with expertise in creating and increasing brand preference, loyalty, lead generation, and customer acquisition through online channels. The C-Level leader heading marketing needs to track demand and target customer presence across Internet sources and channels and create campaigns based on the right buying patterns.
2. Increasing Threats And Compliance Requirements
As companies increase their presence and infrastructure on digital marketplaces and Internet marketing platforms, new threats pose serious challenges. Data theft, privacy theft, data breaches, cybercrime, malware, and a whole lot of problems need to be dealt with. Regulatory safeguards and rules keep increasing, and compliance issues could lead to serious penalties, loss of reputation, and customer attrition.
CMO recruiters indicate the rising trend of seeking CMO professionals with the relevant certifications to demonstrate their knowledge and ability to manage threats and compliance. The CMO roles in 2023 include understanding and management of local, national, and international regulatory compliance across B2B and B2C marketing, sales, and business development channels.
3. Disruptive Market Dynamics
The market dynamics have kept changing at a faster pace since 2020. Economic uncertainty and socio-economic changes are affecting customer buying patterns. Cost-cutting behavior is on the rise, and hyper-personalized digital mediums decrease a company’s ability to market effectively.
“Ads, search results, online marketing, etc., are displayed to individuals based on their highly specific choices, cutting out the chances of many marketers to gain a wide outreach. Expectations from CMO roles have very little in common with what existed a few years back as marketing operations are going to be run in a totally different way from those used before.” add the CMO executive search consultants of a reputed recruitment agency.
4. Tight Hiring Market
The availability of CMO talent shows a downward graph while the demand across industries keeps increasing. CMO executive search agencies talk about the evolving needs for c level recruitment. Many companies want a Chief Market Officer to oversee marketing and marketing intelligence from a strategic level, leaving the traditional CMO work of overseeing marketing activities to other D-level leaders. The hiring market keeps getting tighter. Finding the right CMO will need a new level of expertise from CMO recruiters or CMO recruitment agencies.
5. Industry-Specific Market Experience
CMO recruiters also report a huge demand for industry-specific experience when recruiting for CMO roles in 2023. Companies emphasize specialized product or service-based track records, for which they do not insist on the candidate having prior CMO experience. Many CMO recruiters say that hiring for the position is going beyond C-level experience to focus on leaders with specialized market and industry experience.
If you are planning to hire a Chief Marketing Officer or a Chief Market Officer, you will have to reassess your business goals for 2023 and beyond and take into factor all the new challenges and dynamics your company will have to manage to market itself successfully. The future CMO has to be someone who can deliver on the set goals. To get further insights into CMO recruitment, get in touch with Alliance Recruitment Agency.
About Alliance Recruitment Agency
We are a global recruitment company offering C-Level executive search services in the USA, Canada, Europe, GCC countries, India, Australia, and key locations in Sub-Saharan Africa. Since 2010, we have been making top marketing leadership recruitment a successful experience for companies across 50+ segments. Our wide marketing leadership talent networks help clients find the right CMO talent without worrying too much. Learn more about our global manpower agency – please get in touch!!