CMO Huddles

Growth Myths: What CMOs Really Face

September 10, 2024 5:35 PM | Anonymous member (Administrator)

“Why can’t you just get more pipeline?” asked the founder-CEO of a $125mil SaaS brand. The CMO took a deep breath and tried to explain how marketing works without condescending. It was a fruitless conversation initiated by the wrong question.

The Problem with the "Just Get More Pipeline" Approach

This scenario is being replayed at countless companies with equally ungratifying conclusions. Founders who enjoyed rapid growth due to a combination of plentiful cash, strong economic tailwinds and a temporarily unique product offering are suddenly confronted with the challenge of leading a sustainable business. It isn’t pretty.

Great leaders ask great questions. Inexperienced ones seek blame. Notice that the CEO spotlighted here starts his question with “Why can’t you…” versus “Why aren’t we…” Questions that include “We” recognize collective responsibility to address the organization’s biggest challenges.

Leaders own challenges.

The Danger of “Just” Thinking

This isn’t the only problem with the question. There’s the use of “just” as in “just spend marketing dollars on demand-generating activities” which is also folly. As Jon Miller, co-founder of Marketo and Engagio likes to put it, “Marketing is not a gumball machine.” In other words, you can’t just put in a quarter and expect a deal to fall through the chute.

The biggest issue with the question is its demand, “get more pipeline.” I’m not suggesting that marketers shouldn’t contribute to business growth. That’s a given but not the problem here. When fast-growing businesses suddenly stop growing the problem isn’t “just” a marketing one. It’s usually a combination of product performance, customer experience, employee engagement, reputational strength, and economic conditions.

A great leaders asks, “Why aren’t we growing?” and convenes a braintrust to assess the problem and revise the overall business strategy. It might be just a tweak to the product or pricing or positioning or experience. More likely, it is a distinctive combination of all four summarized in a crystal clear promise to the market. A promise that permeates and aligns the organization. A promise that inspires employees, customers, and partners. A promise that when executed with relentless consistency delivers growth.

Growth is not a strategy. It’s an outcome of a successful strategy.

Stop Thinking Pipeline. Start Thinking Promise.

Growth is not a strategy. Yet every day, a founder-CEO is parroting the question they’re being asked by investors, “What are you doing to grow the business?” Imagine for a moment if we just changed two words in this question, so it read, “What are we doing to differentiate the business?” Oh the power. Oh the profundity.

We differentiate.

So here, finally, marketing leaders, are your marching orders. When asked for growth, you accept the challenge of differentiation. Talk to your customers. Survey your employees. Find the strategic insight. Set the agenda. Convene your peers. Lead the development of a singular promise. A promise that engenders competitive advantage. A promise that, when cleverly and consistently executed, captures mind space.

Go forth and differentiate.


Written by Drew Neisser

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