The CMO Council report, Define & Align the CMO, says that the most successful CMOs bring a strategic long-term view, exceptional measurement and analytical capabilities, and financial management rigor to their role.
Other marketing executives may excel at marketing, with great experience building brands and executing programs. But without the skills to provide strategic and financial leadership to the organization, these executives do not deserve a C-level title. VP/SVP of Marketing describes their role just fine.
The modern CMO must play a role broader than just leading the marketing organization. The role must include driving revenue, leading innovation, and providing strategic vision. These growth champions must lead all four Ps – not just promotion but also product strategy, place (channel and distribution), and pricing. And all this requires a greater focus on quantitative measurement and ROI.
Read more on this topic in my Marketo blog post, Are You a CMO or a VP of Marketing?