Answering Scott Galloway’s challenge - are CMOs dead in 18 months?

Marketing maverick Scott Galloway recently joined ADMA’s Global Forum and posed some much-needed questions for the marketing industry. ADMA CEO, Andrea Martens, offers some answers for these questions.

One month ago, ADMA held its annual Global Forum - and it really got the industry talking.

If you weren’t fortunate enough to be in the room to see the lineup of fantastic speakers across the day you will almost certainly have seen one particular headline emblazoned across nearly every trade media publication: “CMOs are dead in 18 months or less”. 

It was a comment made by outspoken business professor and marketing maverick Scott Galloway, who was our virtual keynote speaker for the day. And boy, did it get tongues wagging.

Galloway argued the future of marketing may see some “boring” parts, such as supply chain, analytics, and product innovation, become more important. The marketers that focus on brand are the ones that will be obsolete, he suggests, adding brands which rely on advertising for growth “out themselves” as not getting it.

Anyone familiar with Galloway’s work knows he loves to make bold predictions, but these predictions don’t always come true. So, is he right on this one?

I would say yes, to some extent.  

The role of the marketer, and that more specifically of a CMO, is already complex, but it does need to evolve. As custodians of the brand and customers, CMOs need to continue to evolve to look beyond communication and creativity to bring a total business perspective. A perspective that takes into account not only the entire customer journey but becomes the trusted executive sponsor in navigating the data-driven evolution. To lead the charge on integrating data/analytics to deliver revenue growth and be a catalyst for innovation, whilst balancing customer trust, data governance standards, and security. 

Those who do so, protect, strengthen, and expand the authority of marketing within the business. Elevating themselves as well as top CMOs. And allowing their teams to leave behind any remnants of the dreaded ‘colouring-in department’ nickname. 

But by no means do I believe that we will no longer see the job title of CMO in 18 months. Rather, I believe we need to have a reckoning over what a CMO actually needs to be for the business, reconciling the way we used to regard this role and where we see it evolving. Frankly, this is in many ways an alignment with what CEOs are expecting from their CMOs. To do so effectively though, requires a building of business skills in broader domains than what many of us are trained and experienced in. 

As Galloway suggests, supply chain, analytics, and product innovation are increasingly important for almost every business looking for growth, and where I do agree with him is that these are areas marketers should be playing a more active role, and even taking dominion on. Particularly in our responsibilities regarding front-line data.

Where I disagree wholeheartedly is that the role of paid media and advertising is going to diminish going forward. In an increasingly cluttered world of content where mass media mediums are rarer than ever, finding an audience and drawing their attention is going to be more vital. If we downplay the sophistication of this to the business, we do ourselves and our discipline a disservice.

What sets apart the average CMO from a great one, will be their ability to still hold onto what makes marketing great - such as the creativity and forward-looking ambition that can transform a brand. Adopting a position on what will achieve short-term outcomes, whilst building for the future, is a mindset that will be rewarded. Those who can balance an expanded remit without losing the DNA of marketing will be the ones to keep an eye on.

Galloway's speech also emphasised the impending disruption caused by AI, which will likely affect professions such as graphic design, social media management, and programming. While AI may create more jobs in the long run, there will be short-term challenges that we must navigate.

As he aptly puts it, “AI won’t take your job, people who understand AI will.” 

AI is a wake-up call - that new technologies are always around the corner. Marketers tend to almost work within a bubble and may forget to sometimes look at new technology from an outsider’s perspective - but anticipating their take up of this tech is extremely influential over how businesses can begin to utilise them.

So, what can we learn from Galloway's thought-provoking insights?

Firstly, as marketers, the need to adapt is a given. Our CMOs can lead best when they truly understand what their teams employees are dealing with, even if these are the more “dry” parts of the job like analysis and reporting. But mastering these skills will make these marketers more equipped to make informed decisions about creative campaigns. 

Secondly, AI will most likely have as much power as we give it. It’s already had a transformative effect on how we think about technology, but the jury is still out on how it will affect our jobs. Regardless of what comes to pass, marketing leaders will need to be the ones to set guardrails around its use and become examples for their employees to follow.

Lastly, Galloway reminded us to be kinder to ourselves. We all need to make more of an effort to live in the present moment. In the fast-paced world of marketing, most of us have a habit of focusing on the past or the future and completely neglect the present which is actually the only thing we can control or impact. 

This is why I find events like the ADMA Global Forum so powerful, and one of the reasons why it's our milestone event every year. When marketers come together in a collaborative environment, they’re both learning from each other and from the best, like Galloway and Mark Ritson, who took a no-holds-barred shot across the bows of some accepted marketing orthodoxy.

So I embrace those who question what our roles will look like far into the future because it sparks much-needed introspection and discussion across our industry. We should all aspire to think more ambitiously - it can only help us in the future.