(This post, written by my co-founder Cathy Hawley, also appeared on Bolster.com)

The gig economy is a labor market where short-term or freelance roles are more prevalent than permanent positions. It’s generally characterized by having independent contractors rather than full-time positions, but in some locations and for some types of roles, gig workers may be part-time or fixed-term employees.

The gig economy that started with roles like artists, drivers and web designers is quickly expanding to include executive-level roles. There are  a few trends in today’s workplace that are driving this expansion. Startups and scaleups have more flexible, remote-friendly work environments and are looking for creative, less expensive ways of accelerating growth. Executives have shorter average job tenure and are more often displaced or between roles, and they are also interested in the flexibility that gig work can give them.

In a study conducted by MavenLink/Research Now, “The White Collar Gig Economy,” 47% of companies state they are looking to hire contractors to fill management and senior executive roles, including c-suite contractors. At the same time, 63% of full-time executives would switch to become a contractor, given the opportunity. These trends will be accelerated by the current economic downturn and recovery, as some companies have fewer resources, and more executives are displaced.

At the executive level, there are a few different types of roles that could be considered ‘gigs’. The most common two are coaching and project-based consulting.  Coaching or advising, and particularly CEO coaching and advising, has become very prevalent over the last 10 years. The CEO hires a coach who can help them navigate new situations and challenges. Often, CEO coaches stay with a CEO for a number of years, helping guide and support them through the stages of company growth. There are also coaches and advisors for other functional areas to provide similar support for other executives, although more commonly these coaches are hired for specific initiatives. 

Then there  is project-based consulting, where executive-level talent is hired to run a specific project such as reviewing a company’s packaging and pricing, performing due diligence on an acquisition, creating a Diversity, Equity and Inclusion strategy, or creating an investor deck for a fundraising event. This type of consulting isn’t new, and it’s similar to what large consulting firms offer. It seems to be more prevalent now for very senior roles than it ever has been in the past.

But the gig economy for executives now reaches well beyond coaches and consultants.  There are also executives who are hired into interim leadership roles while a company searches for a permanent placement. Some roles take a long time to find the right person, but there’s an urgent need for someone to take on the leadership mantle in the interim. If the interim executive is a good fit, and is open to it, it’s not uncommon for this individual to be considered for the permanent position.  “Try before you buy” works both ways — it can be good for the company and good for the executive, too.

An up-and-coming type of executive gig role is the fractional role. We are seeing this more and more in the last couple of years.  Fractional executives can either be consultants or employees, since the expectation is a long-term relationship, on a part-time basis. For example, 3 days or a certain number of hours per week. The fractional executive is responsible for all functional areas as a full-time executive in that same role. The company may be too small to need (or afford) their level of expertise on a full time basis, but needs more than just an advisor or project consultant. The fractional executive generally remains with a company until the company needs a full-time leader for that function, in which case either the fractional executive goes full-time, or the company hires someone new.  Fractional executives may support more than one client at a time, and may also come with a team of more junior functional experts who can support them to take on more work.

Finally, for our purposes at Bolster, joining a company’s board of directors could be considered taking a ‘gig’ role since it’s not a full-time executive role.  Startups and scaleups need independent directors, and their needs change based on their size, stage and strategy. We see a growing trend of companies contracting with directors for 1 -2 years rather than lifetime service. 

There’s a real opportunity right now for companies to capitalize on the expertise of this talent pool without having to hire them for long-term full time roles, and for executives who want to contribute their skills and expertise without the commitment of a 80-hour work week. Bolster is helping bring these two audiences together in a marketplace that matches on-demand executives with companies who need their services the most. Bolster also provides services for members so they can focus on their consulting rather than their business, and for companies to evaluate their executive teams and boards.

Response to a Deliverability Rant

Justin Foster from WhatCounts, an email service provider based in Seattle, wrote a very lengthy posting about email deliverability on the WhatCounts blog yesterday.  There’s some good stuff in it, but there are a couple of things I’d like to clarify from Return Path‘s perspective.

Justin’s main point is spot-on.  Listening to email service providers talk about deliverability is a little bit like eating fruit salad:  there are apples and oranges, and quite frankly pineapples and berries as well.  Everyone speaks in a different language.  We think the most relevant metric to use from a mailer’s perspective is inbox placement rate.  Let’s face it – nothing else matters.  Being in a junk mail folder is as good as being blocked or bounced.

Justin’s secondary point is also a good one.  An email service provider only has a limited amount of influence over a mailer’s inbox placement rate.  Service providers can and must set up an ironclad email sending infrastructure; they can and must support dedicated IP addresses for larger mailers; they can and must support all major authentication protocols — none of these things is in any way a trivial undertaking.  In addition, service providers should (but don’t have to) offer easy or integrated access to third-party deliverability tools and services that are on the market.  But at the end of the day, most of the major levers that impact deliverability (complaint rates, volume spikiness, content, registration/data sources/processes) are pulled by the mailer, not the service provider.  More on that in a minute.

I’d like to clarify a couple of things Justin talks about when it comes to third-party deliverability services.

Ok, so he’s correct that seed lists only work off of a sample of email addresses and therefore can’t tell a mailer with 100% certainty which individual messages reach the inbox or get blocked or filtered.  However, when sampling is done correctly, it’s an incredibly powerful measurement tool.  Email deliverability sampling gives mailers significantly more data than any other source about the inbox placement rate of their campaigns.  Since this kind of data is by nature post-event reporting, the most interesting thing to glean from it is changes in inbox placement from one campaign to another.  As long as the sampling is done consistently, that tells a mailer the most critical need-to-know information about how the levers of deliverability are working.

For example, we released our semi-annual deliverability tracking study for the first half of 2005 yesterday, which (download the whitepaper with tracking study details here or view the press release here).  We don’t publicly release mailer-specific data, but the data that went into this study about specific clients is very telling.  Clients who start working with us and have, say a 75% inbox placement rate — then work hard on the levers of deliverability and raise it to 95% on a sampled basis, can see the improvements as their sales and other key email metrics jump by 20%.  Just because there’s a small margin of error on the sample doesn’t render the process useless.

Second, Justin issues a big buyer beware about Bonded Sender and other “reputation” services (quotes deliberate – more on that in a minute as well).  Back in June, we released a study about Bonded Sender clients which showed that mailers who qualified for Bonded Sender saw an average of a 21% improvement in inbox delivery rates (range of 15%-24%) at ISPs who use Bonded Sender such as MSN, Hotmail, and Roadrunner.  We were pretty careful about the data used to analyze this.  We only looked at mailers who were clients both before and after joining the Bonded Sender program for enough time to be relevant, and we looked at a huge number (100,000+) of campaigns.  Yes, it’s still “early days” for accreditation programs, but we think we’re off to a good start with them given this data, and the program isn’t all that expensive relative to what mailers pay for just about everything else in their email deployment arsenal.

Finally, let me come back to the two “more on that in a minute” points from above.  I’ll start with the second one — Bonded Sender is an accreditation program, or a whitelist, NOT a reputation service.  Accreditation and Reputation services are both critical components in the fight to improve inbox placement of legitimate, permissioned, marketing emails, but they’re very different kinds of programs (a little background on why they’re important and how they fit with authentication here).

Accreditation services like Bonded Sender work because, for the very best mailers, third parties like TRUSTe essentially vouch that a mailer is super high quality — enough so that an ISP can feel comfortable putting mail from that mailer in the inbox without subjecting it to the same level of scrutiny as random inbound mail.

There are no real, time-tested reputation services for mailers in the market today.  We’re in the process of launching one now called Sender Score.  Sender Score (and no doubt the other reputation services which will follow it) is designed to help mailers measure the most critical levers of deliverability so they can work at solving the underlying root cause problems that lead to low inbox placement.  This is really powerful stuff, and it will ultimately prove our (and Justin’s) theory that mailers have much more control over their inbox placement rate/deliverability than service providers.

Where does all this lead?  Two simple messages:  (1) if you outsource your email deployment to an email service provider, pick your provider carefully and make sure they do a good job at the infrastructure-related levers of email deliverability that they do control.  (2) whether you handle email deployment in-house or outsource it to a service provider, your inbox placement rate is largely in your control. Make sure you do everything you can to measure it and look closely at the levers, whether you work with a third-party deliverability service or not.

Apologies for the lengthy posting.

Not Dead Yet

Ah Spring.  Flowers bloom.  Love is in the air.  And it’s time for the annual round of “email is dead” articles and blog posts.  With apologies to Monty Python, and on the heels of last week’s fracas about social networking having more users than email, once again I say, email is Not Dead Yet!

Three articles of late are pretty interesting and point out that the trends in online channel usage are far murkier than meets the eye.

First, Sherry Chiger’s story in Direct that One in Five Merchants Shuns Marketing Email has a poor headline for an interesting, data-rich article.  The article should be about how “Four in Five” adopt.  The article has links to a bunch of interesting in-depth reports you can download, but some of the eye-catching stats include the fact that more B2C companies use email than their own web site for marketing (96% vs. 90%); that the #1 use of “if I had more money in my marketing budget, it would go to” is “creating more sophisticated email”; and that email is the “most valuable online strategy,” beating out SEO and materially ahead of Social Media, SEM, sending offline traffic online, affiliate, display, and abandoned shopping cart marketing.

Sherry’s follow up article entitled E-mail and Social Media: The New Chocolate and Peanut Butter

 and Liana Evans’ article in ClickZ, Email Can Be Social Media’s Best Friend, both explain the interplay of email and social media nicely.  You can’t, or at least shouldn’t, have one without the other.  This matches our experience at Return Path, where a number of our largest clients are the biggest social networks.  We always say that “social networking runs on email.”  Look at your inbox sometime and see how many messages are from Facebook, LinkedIn, Twitter, etc., which prompt you to create page views for them, um, I mean, visit their sites.

And of course the recent Morgan Stanley data is somewhat problematic (chart published here among other places).  First, I’m not sure where their base data came from, but I’ve never seen an estimate of worldwide email users that’s only 850MM.  The Morgan Stanley report says there are 1.8B people online worldwide, and there are been stats consistently published over the years that between 80-95% of people online use email.  This report from Radicati has the number of email users worldwide growing from 1.4B last year to 1.9B over the next few years. That sounds more like it.  

There’s no question that people spend more time in social networks and will continue to. They’re more multi-faceted. But that “error” in reporting on number of email addresses pretty dramatically changes the two charts. Plus, don’t you have to have an email account to sign up for most social networks?  And as my colleague Ezra Fischer noted, how the counting works in these two charts is important. For example, I have 2-3 email accounts, but I have 10-12 social network accounts. Am I counted once in each category, or 2-3 in the first and 10-12 in the second? Or worse, once in the first and 10-12 times in the second?

Anyway, every time I write one of these “in defense of email” posts, I get criticized for having too vested an interest in the subject matter to be objective.  If that’s the case, so be it – but who else is going to highlight the positive counterpoints when the buzz is all pointed to the demise of email?

(This is the fifth post in a series documenting the work I did in Colorado on the Governor’s COVID-19 Innovation Response Team – IRT.  Other posts in order are 1, 2, 3, and 4.)

Thursday, March 26, Day 10

• Sarah continuing to take over and stronger by the day
• Sarah cleared me to go home, only one more person to ask
• Deep deep dive on Mass Testing – so good to spend that time 
• Pretty much got the strategy right – shocking we could get that close with so little public health experience – Kyle awesome – EOC leadership briefing
• That was most of the day
• Some downloads to Sarah and Kacey
• Feeling that two of our project teams are going sideways – that will be a big focus for me tomorrow before I leave
• Quick assignments for tomorrow
• Talked to Jared – he’s good with me going now that Sarah is in place and things are running.  Awesome!

Friday, March 27,  Day 11

• Download with a couple of the project teams to help get them back on track 
• This whole thing is one big exercise in Agile!
• Serendipitously might have found private sector partner for one of the teams in need.  Reminded of George’s great line, “when the student is ready, the teacher appears”
• Gov briefing on mass testing plan
• Spent a lot of the day on strategy/overview/retrospective deck.  Have to review it with Brad and core team members. Gov wants to get it in front of the National Governors Association to share learnings/best practices for the states behind us in this fight
• Gov thankful goodbye
• Brad thank you Haiku – so awesome – “You see things others don’t see”
• FInal team check-in, lots of nice thank yous from people on team
• Close out drinks with Sarah, Kacey, Kyle – persevered despite lack of corkscrew.  Poor Kyle’s shirt looks like he was standing next to a shooting victim
• Incredibly thankful moment with team – really like and care about these people – we’ve done such great work together – 11 days but feels like months and months
• Close out email to Governor and Chief of Staff about team

Saturday, March 28, Day 12

• Check out!  Fly home! Happy to see Mariquita, Casey, Wilson, and Elyse!

Stay tuned for two more wrap-up posts, tomorrow and the next day…

Part of creating the best place to work  is learning how to self manage – very, very well.  This is an essential part of Creating an environment of trust , but only one part.  What does self-management mean?  First, and most important, it means realizing that you are in a fishbowl.  You are always on display.  You are a role model in everything you do, from how you dress, to how you talk on the phone, to the way you treat others, to when you show up to work. 

But what are some specifics to think about while you swim around in your tank?

1. Don’t send mixed signals to the team.  You can’t tell people to do one thing, then do something different yourself
2. Remember the French Fry Theory of being a CEO.  My friend Seth has the French Fry theory of life, which is simply that you can always eat one more French fry.  You’re never too full for one more fry.  You might not order another plate of them, but one more?  No problem.  Ever.  As a CEO, you can always do one more thing.  Send one more email.  Read one more document.  Sometimes you just need to draw the line and go home and stop working!  (See my earlier post  here  on how Marketing is like French Fries for another example.)
3. Regularly solicit feedback, then internalize it and act on it.  Do reviews for the company.  Do anonymous 360s (I’ve written about these regularly here). Get people a review that has ratings and comments from their boss, their peers, and their staff.  Do them once a year at a minimum.  And do one for yourself.  They’re phenomenal.  Everyone needs to improve, always.  Our head of sales Anita always says “Feedback is a gift, whether you want it or not.”  Make sure you do them for yourself as well.  Include your Board.  If you don’t agree with the feedback you are being given that is likely a data point that you have a BLIND SPOT.  Being defensive about feedback is dangerous.  If you don’t get it/don’t like then do some more work to better understand it.  Otherwise you will forever be defensive and never develop in this area
4. Maintain your sense of humor.  It’s not only the best medicine, it’s the best way to stay sane and have fun.  Who doesn’t want to have fun at work?
5. Keep yourself fresh:  Join a CEO peer group.  Work with an executive coach.  Read business literature (blogs, books, magazines) like mad and apply your learnings.  Exercise regularly.  Don’t neglect your family or your hobbies.  Keep the bulk of your weekends, and at least one two-week vacation each year, sacrosanct and unplugged.  As Covey would say, Sharpen the Saw

You set the tone at your company.  You can’t let people see you sweat too much – especially as you get bigger.  You can’t come out of your office after bad news and say “we’re dead!”  You can make a huge difference by being a great role model, swimming around in your fishbowl.

Return Path Makes The List of “Best Places to Work” in Colorado

Long-time readers of this blog no doubt understand my central philosophy when it comes to management.   I believe that people come first.  When employees are happy they make our clients happy.  Happy clients happily pay for our services, which tends to make our investors happy.  When you start with the people, everyone wins.

At Return Path we invest a lot in our people.  And we invest a lot in Team People – what we call “Human Resources” – to support those people. 

So what a great honor to see all that hard work and investment pay off in the form of a “Best Places to Work” honor!  The Society for Human Resources Management named us one of its “Best Places to Work in Colorado” at an awards banquet last Friday.  You can read more about how we won this award on the Return Path blog.

Of course a CEO can set the agenda and make certain decisions to support a great work environment.  But it is the 150 people who come to Return Path every day who make it the amazing place that it is.  I could not be more thankful for each and every one of them – their passion, dedication, teamwork and kindness all come together to create a company that I would want to work for even if I wasn’t the CEO.

The People Who Go the the Trainer the Most Are the Onese Who Were int eh Best Shape to Begin With

Have you ever noticed this?  That the people working out with trainers in the gym are usually in great shape?  So why do they keep working with the trainer?  So they maintain their awesome level of fitness, of course!

The lesson for business is the same.  Just because you have a strong suit doesn’t mean you can afford to ignore it and rest on your laurels (at least not for very long).  This is true in good times, and in bad times. 

When things are going well, it can feel like it’s the right time to turn your focus to new things, or to fixing broken things.  And that is true to some extent, but it can’t come at the expense of continuing to develop what’s working.

And the temptation to “cut and coast” in the areas of the business that are working well is especially strong when times get tough and resources are stretched.  In fact, the situation is the opposite.  When times get tough and resources are stretched, it’s even more important to double down on the parts of the business that work well. 

Why is all of this true? 

–Your strong suits have a disproportionate impact on business results.  Are you a product-first organization?  Then great product is what makes your organization successful.  Keep producing more of it.  Are you a sales-dominant organization?  Sell more.   Are you a people-first organization?  Your people don’t become less important over time.  Why would you – in any business environment – do less of what makes you successful?

– Your strong suits are bellwethers for employee insight into the organization.  The things that your company does that are best in class are the things that employees take their cues from, and that employees have the most pride in.  Let those things go – and you risk alienating your most enthusiastic employees.  This isn’t to say that companies should have “third rails,” things that are the equivalent of Social Security or the Pentagon, where the minute someone talks about a budget cut, hysteria ensues.  And it’s not about silly perks (you can be a people-first organization whether or not you have “bring your pet to work day”).  But whatever is important to you one day can’t suddenly be unimportant the next day without risking a high degree of employee whiplash.

– Your strong suits compensate for your weaknesses.  The last two points are all about strong suits being out in front.  But I’d argue that your strong suits do more than that.  They protect you from your weaknesses.  Think about it metaphorically, and relating back to the title of this post, think about the body.  When you have a broken leg, your arms get stronger because you need to use them to crutch yourself around.  If you also broke your arms, you’d have a real problem!  In business, it’s the same.  Strong sales teams tend to compensate for weak marketing teams – invest less in sales, it actually hurts marketing, too.  Strong product can compensate for weak sales teams – so more stagnant product hits twice as hard.

All this may sound obvious.  There are other comparable axioms like “put your best people on your biggest opportunities,” and “manage to your strengths and compensate for your weaknesses.”  And yet, the temptations to coast are real.  So get going to that gym and see your trainer for your weekly appointment.  Even if you’re in great shape.

The Best Place to Work, Part 4: Be the Consummate Host

Besides Surrounding yourself with the best and brightest , Creating an environment of trust,  and Managing yourself very, very well, it’s important for you as a creator of The Best Place to Work to Be the Consummate Host.

What does that mean?  This is how I approach my job every day.  I think of the company as a party, where I’m the host.  I want everyone to have a good time.  To get along with the other guests.  To be excited to come back the next time I have a party (e.g., every day).

By the way, I always have co-hosts, as well – anyone who manages anyone in the company.  If I can’t do something specific below, someone on my executive team does it.  Sometimes, two of us do it!  Examples include:

• I interview people like I’m a bouncer at an exclusive club.  We do very personal new employee orientations.  We do personal check-ins after 30 and 90 days to make sure new employees are on track
• I attend every company function that I can and work the room as a host, even if it’s not “my” event – sometimes it means sacrificing long conversations and conversations with friends for smaller ones and meeting new people
• I call every employee (voicemail ok) and write a note and/or send a gift every anniversary of their employment with the company
• I write notes to people when they do something great or get a promotion

Full series of posts here.

Book Short:  Just One Minute

What The One Minute Manager does for basic principles of management and goal setting, The One Minute Manager Meets the Monkey does for delegation.  Both are blessedly quick reads (the classic “airport” book), and Ken Blanchard really nails some of management’s most critical components with simplicity and grace.

I’m a fan of the One Minute Manager school, and it does work well for some of the basics, but it has its limitations in terms of how broadly it can be applied.  My colleague Whitney McNamara‘s words in an email to me a few months back say it all:

OMM has actually been useful.  I have to agree that it’s got a bit of a “Jonathan Livingston Seagull” mystical simplicity thing going, but as you say, simple is sometimes what works best.

It’s really strong in that the basic lessons are at root so simple that they’re easy to forget about day to day…having them articulated in a similarly simple way, so that they stick at the top of mind easily, is nice.

The other side of that is that it presents such a simplified, best-of-all-possible-worlds sort of scenario that I did sometimes find myself wanting to set fire to the OMM’s office building and scream “let’s see you deal with *this* in 60 seconds, buddy”…but on balance a pretty good experience. 🙂

In the end, it’s not that good management is easy — but it can be quick and relatively painless if done well and regularly.

(This is the second post in the series…….the first one on When to Hire your First Chief Revenue Officer is here.)

If you’re looking for a great CRO, one thing you want to avoid is being “sold” by a dynamic and engaging salesperson instead of finding the best CRO for your company. Over the two-plus decades of working closely with CROs I figured out what “great” looks like and I’ve found that there are five things that great CROs do. While you might not find all these characteristics and attributes in one person, you should definitely look for them!

First, a great CRO knows when to turn up the volume, and when not to.  Thinking through our metaphor/framework for enterprise sales that I wrote about in an earlier post – from Whiteboard to Powerpoint to PDF – great CROs know when they aren’t yet in PDF mode.  In the early days when your organization is selling on Whiteboard or figuring out the transition to Powerpoint, when you’re adding sales reps like crazy, this is not the time to quickly get to the PDF stage even though everyone in your organization will be clamoring for that. Sure, there could be a ton of opportunity to pursue but scaling quickly is inefficient and unlikely to be successful because scaling before the PDF stage still depends on the success of individual hunters.  Only when the organization has made the true transition to PDF can a sales machine scale rapidly, and a great CRO understands this.

Second, a great CRO gives credit to others first when things go well and looks inward first when things go poorly.  This is easier said than done because the tendency for people in any organization is self-preservation and the easiest way to do this is take credit and blame others. But the geat CROs are the first ones to thank their fellow executives in marketing, in product, in finance, for collaboration and successes.  They are also the first ones to thank their team publicly for a good quarter.  When they miss a quarter, the first thing they do is figure out why the Sales team blew it, as opposed to blaming the product or marketing or economy…or even customers themselves.

Third, a great CRO is maniacally focused on building a conveyor belt-style pipeline for sales talent so they don’t lose momentum when a rep quits or gets fired.  Notice that I didn’t say a great CRO was “focused” on building the pipeline or “passionate” about building the pipeline—I used the term “maniacal” because that’s what a great CRO looks like to everyone else in the organization: a crazy, intense, nonstop, extremist who religiously works on their talent pipeline.  “Quota just walked out the door” is never something you’ll hear from a great CRO because that’s not an option in a well-tuned sales machine where multiple layers of reps are consistently trained, managed, and groomed for the next level of selling. 

Fourth, a great CRO will be able to say “no” to overpaying and over-promoting without ruffling feathers on the sales team. An inability to stay disciplined on compensation is the second-worst thing a Sales leader can do and if they get compensation wrong by paying reps too much base or having too much commission in easily-repeatable form, you’ll pay for it—without the producivity gains. Reps who are overpaid get “fat and happy,” when what you want is for them to be “lean and hungry.” The worst thing a CRO can do? The worst thing a CRO can do, and something the great CROs won’t do despite great pressure, is to promote a superstar sales rep with no management aptitude or training into a sales manager role. I’ve seen this play out several times and it doesn’t end well. Either the superstar will not be able to lead and will exit the organization, or the superstar will end up poisoning an entire team and lots of your reps will exit the organization.  Great CROs know how to say no to the misguided request for a promotion and how to keep people engaged without overpaying them.

Fifth, a great CRO deosn’t belive in the “magic rolodex” (yes, I realize that term is a bit dated!). They might have a magic rolodex, deep networks, and personal ties to players in the ecosystem, but unless you are hiring a sales rep who literally just finished selling a competitive solution to the same target customer set, sales reps who claim they come with a built-in book of business can only deliver on that promise 1% of the time.  It’s alluring — but it just doesn’t work out that way.  Great CROs know how to ferret that out and hire instead the reps who will fit in the company culture and work to improve the processes and systems in place.

Hiring a great CRO isn’t easy but hiring the first (or last) person you interview because of their excellent communication skills will be a disaster. Look for a CRO who understands the pacing to scaling, is humble enough to give credit to others and avoid blaming, and who is “maniacal” about the team—coaching and mentoring them, providing the rails so that the team can do their best work.

(You can find this post on the Bolster Blog here)

(This is the second post in the series… the first one When to Hire your first Chief Marketing Officer is here).

Whether you have someone in your company that can level up to greatness or you need to bring in a CMO, the characteristics and skills of a great CMO you should aspire to include some of the following.

A great CMO understands that the marketing budget starts with drivers and business results and works backwards in a modular way to spend, not the other way around. Yes, they will get some resources but rather than spend that money to fill in the gaps on their team to make the Marketing function strong or powerful, they’ll look at the business needs and drivers. They understand what the business needs to achieve — the sales plan — then what the funnel looks like. With that information a great CMO will then know what marketing levers they can pull to both optimize the funnel and make sure the funnel is full.  So, they build the plan in a modular way. By doing that, if the budget needs to be trimmed, they can ask the right questions and easily trim. If you start the other way—if you start by looking at the budget and filling gaps and needs, you can get into a situation where you’re looking for ways to keep people busy, shifting them to where they’re needed but where they might not have skills to make an immediate impact, or you’re always scrambling to keep up with developments in sales and the funnel that you didn’t see. A great CMO will always start with the drivers and business needs and be conservative with resources and a modular approach helps to do that.

A second characteristic of a great CMO is that they make spend decisions based on a deep understanding of data, not on a hunch or because “that’s what’s always worked.”   Even in traditional B2C businesses that make heavy use of traditional non-addressable media (like print, outdoor, radio, and TV) – even in those businesses, today everything can be tested and measured to some degree.  A strong CMO is one who starts every answer with “let’s look at the data,”and if the data doesn’t exist, they’ll create metrics and measures to approximate an answer.

A great CMO will behave like a CEO in terms of being able to orchestrate the different pieces and parts of their organization.  Just as a CEO has to manage a litany of disparate functions, so too do CMOs have to manage a litany of disparate channels, they have to manage up and down the organization, and sideways, too.  Gone are the days when CMOs were either “brand or direct” or “online or offline.”  Today, the average CMO has to be able to manage 20+ different channels.  The level of complexity and number of points of failure for the job has exploded.  A great CMO handles this with the fluidity that the CEO handles moving from a Sales Pipeline meeting to a Product Roadmapping exercise. 

The final characteristic of a great CMO is that they get away from their ivory tower–they spend time in-market and in-product, not just time looking at data, budgets, and reports.  Given all the responsibilities around multi-channel orchestration, systems, budgeting, and execution in general, it can be very easy for a CMO to operate 100% from behind the desk.  The great ones want — need — to be out in the field, attending sales calls, partner meetings, events, serving as executive sponsor on some key accounts; in general, collecting primary data on the company’s products and brand.

 A great CMO can be cultivated from within your company and it’s not necessary to look outside, but regardless of how you get a CMO, the great ones will have the characteristics and traits listed here.

(You can find this post on the Bolster Blog here)