How Marketers Can Impact Board-Level Decision-Making [Forbes]
ACXIOM (ACXM)
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Source: Forbes
As a former GM/CMO who subsequently earned a Ph.D. and is now a faculty member at the Darden School of Business, my research is centered on helping CEOs/CMOs better manage marketing and increase the impact that marketers have on firm performance (see here for a recent HBR article on why CMOs are often set up to fail). Simply, my goal is to help CMOs and aspiring CMOs. One area I’ve been particularly interested in is understanding the impact of marketers on boards. In research I conducted with colleagues from TCU (Ryan Krause) and Columbia (Don Lehmann), we found that less than 3% of board members have managerial-level marketing experience ( see here ). What is confounding is that boards and CEOs identify growth as a key firm and board-level challenge. Our hypothesis was that marketers on the board could help the firm navigate these growth-related challenges. Indeed, we found that having marketers on boards increases future firm growth ( see here
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