CEOs have given the entire C-suite some responsibility for disruptive growth, yet no one is accountable. It is diluted and fractioned accountability at best. Ninety percent of companies have three or more C-suite leaders accountable for disruptive growth.
Yet, when asked who will be the first to go should growth targets not be met, 33+ percent of CEOs point to Chief Marketing Officers. If CMOs focus on disruptive growth, rather than mainly on traditional growth avenues, they have a chance to impact the bottom line in a heretofore unseen way—earning the key to that corner Chief Growth Officer (CGO) office.
Disruptive growth and digital are tightly tied. CMOs own the digital levers necessary to make disruptive growth a reality.
Only 36 percent of CMOs rank launching new business models or value chains as an extremely important priority. And just 34 percent cite establishing new partnerships with untraditional players as the same. Yet, CEOs are on the hot seat to show shareholders new sources of revenue. CMOs need to change their focus from traditional to disruptive sources of growth.
CMOs are actually well positioned to become Chief Growth Officers, as evidenced by the bevy of CGOs at major global brands who were formerly CMOs. Currently, the position is ripe for the taking, but opportunities such as this one have a shelf life. With swift, sure action, CMOs can capitalize on their window of opportunity.
As many companies look to create a CGO, CMOs should step forward to create the platforms that will catapult their companies forward to new business opportunities.
Making priorities disruptive by pivoting to an outcome orientation via platforms
Accepting clear responsibility for disruptive growth by establishing the Office of Disruptive Growth
As the troops assemble, clearly aligning the responsibilities of the Chief Marketing Officer, Chief Sales Officer, Chief Customer Officer and the head of digital business around traditional and disruptive growth. Defining and executing a disruptive growth strategy will require a matrixed relationship within the C-suite.
Kevin helps organizations around the world define their strategic imperatives, and design and develop customer strategies, segmentation and customer-centric capabilities, and value realization programs. He has worked across a variety of industries, within both B2B and B2C business models, to help clients manage multiple initiatives, including many focused on performance and customer data management. Kevin is based in Minneapolis.
Working with the UK’s largest companies, Rachel advises today’s business leaders on how they can truly acquire and retain profitable customers in order to grow market share. She leads Accenture’s Advanced Customer Strategy business across the UK, Europe and Latin America and is passionate about the customer and its role in shaping today’s business landscape. Rachel was listed in Management Today’s “35 Women under 35” to watch, the “Women of the Future” awards and Red Magazine’s “Women of the Year” awards and has been voted “Most Inspirational Leader” for Accenture UK. She is a regular contributor to the media, with appearances on BBC News 24 and CNN and press contributions through The Times, The Guardian, Critical Eye and the conference speaker circuit.
Jo calls herself a “pragmatic growth architect,” one who helps companies in a variety of industries develop and deliver transformational propositions to meet customer needs and drive increased sales or profitability. Most recently, she has been working with clients to design and deliver customer-centric, profitable omnichannel experiences. Jo is based in London.