CMOs could be on their way out, their tenure is estimated to be 18 months or less.
They have been considered the Golden Goose for marketers of products and services, to help synergize all marketing efforts, consolidate ad agencies and create a mean and lean marketing ROI for their parent companies.
The truth is far from this, as many companies like Pepsi, AT&T, P&G have seen. CMOs are dropping like flies. It’s all over the various trade journals.
We have had a rash of CMOs leave on their own accord, have been flat-out fired or just plain and simple - it did not work.
This is not to say that there are not some CMOs get the total market issues and the US Hispanic Market. But…..
How has the CMOs crusade impacted the US Hispanic advertising agency community?
CMOs have to try something (that is what they were hired to do — even though they did not have a clue on the total impact of their choices) and one of the areas was consolidation of their agencies, including Hispanic marketing and media buying efforts.
Now that the CMOs are dying one-at-a-time, maybe their ideas and consolidation strategies in the last 3-4 years will also be reconsidered.
What do you think?