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According to a study by Stuart Spencer, the average tenure as a CMO in 2020 was just 40 months. That’s only half of last year for some companies and less than 41.1 months for the entire 2019 survey. The research firm found that the pandemic was likely to have caused much of the shortening of the average tenure of CMOs since executives were with unprecedented market changes.

In addition, the average tenancy for CMOs in 2020 was only 25.5 months, which the research firm believes was likely less skewed than it could otherwise have been, given that some longtime CMOs have left their positions.

With such a high turnover rate for CMOs and turnover in other marketing positions, companies need a CMO succession plan, but most companies don’t, according to a Deloitte blog post. This underscores the need for succession planning within an organization. Revenue is costly and the longer it takes to hire a new CMO, the longer projects and initiatives will be delayed.

Help internal candidates develop leadership skills

“First, you should look for a candidate who has the innate disposition and leadership skills to realize the vision you have already set for yourself,” said Jennifer Veenstra, managing director of Deloitte’s global CMO program. “When you identify CMO candidates, you are helping them gain experience beyond their current role and expertise, especially if they are currently in a ‘silo specialist’ role.”

While CMOs with other responsibilities are limited in time, Veenstra admitted, “As a CMO, you owe it to yourself, your direct reports, and your organization to prepare employees for their next step up the ladder so that they are well equipped to continue and build on the achievements of your team. A strong CMO succession plan may very well be the most sustainable aspect of the legacy you leave behind. “

Related article: What to do if you lack technical skills

Always hire

Like the sales adage, always sell, always hire, is the same mindset. A company may not have a qualified in-house candidate right away, and even if they do, a void will need to be filled as someone moves up to the CMO role. “Finding and securing quality marketing experts doesn’t happen overnight,” says Chris Tompkins, CEO and founder of Go! Agency. “You don’t start looking for sales when you’re out and about. You consistently fill your sales funnel with prospective customers who push you down through a qualification process that leads to conversion. It shouldn’t be any different when it comes to recruitment. “

Tompkins recommended using hiring platforms like LinkedIn or ZipRecruiter, which always have some key positions open and indicate the expected start date, but an earlier start date is also possible.

“Typical résumé elements like length of tenure, experience, job types and skills are important, but be sure to check the style of the résumé and cover letter,” added Tompkins. “Have a phone interview or video conversation with a key member of your team (or the team you will be working on).” From there, decide if further action is required.

Related article: Is the talent pool now global by default?

Document everything

Even if you have what you think have a very good pipeline, any newbie will not be familiar with certain business processes. While new perspectives can be good, understanding how things went before is also important.

“One important way companies can ensure that a strong marketing team stays intact in the event of a high-level change is to develop and maintain solid documentation of the marketing team’s processes and methodologies,” said Giulia Porter, Teltech vice president of Marketing. “Organizations can do this by encouraging department heads to prioritize the creation of clearly defined ‘playbooks’ – step-by-step instructions that describe how to tactically implement the company’s key marketing methods.

Porter added that this documentation would be particularly useful for advertising and growth teams who rely heavily on data analytics and specialized marketing skills to drive business results. CMOs and other marketing directors who prioritize the documentation of marketing and promotional playbooks, branding and creative guidelines, and career development requirements (among others) for their team and organization ensure that a company’s marketing activities remain intact , regardless of who takes the lead The team. For example, if a member of the marketing team is an expert on Facebook advertising and moves to another organization but doesn’t log any of their processes, the remaining members of the marketing team must try to learn or reinvent the wheel in order to continue implementing that particular strategy. However, if the marketing team focused on the team members’ cataloging processes before the employee resigns, the marketing team would be left with a record of their Facebook advertising approach that another team member can easily implement.

“When strong, clear marketing processes are documented by team members, CMOs can more effectively develop talent in their teams to ensure proper succession if they leave,” added Porter. “When the ‘who’, ‘what’, ‘where’ and ‘how’ in your marketing team are clearly outlined and visible, all team members can understand the framework, vision and tactics they can use to succeed in goals.”

Establish corporate culture

By establishing a corporate culture, an organization helps ensure that new CMOs and others are a good fit for the marketing team, said Barbara Yolles, CEO of Ludwig +.

“Every company is a collection of people, and your employees are the strongest representation of your brand,” said Ludwig. “If you do it right, you create a culture that permeates the entire company. Every employee becomes an integral part of the mission and keeps the company on course even in transition phases. “

If the corporate culture is conveyed right from the start or when you are hired, you build a company on all levels with like-minded people with the same goals, added Ludwig. “If you work the other way around – from the outside in – and impose rigid structures because you think it will ‘sell’, you will come across as spurious and put off your key stakeholders and the people in your organization. self.