“The more clearly firms can articulate the balance in the CMO role between 1) head of an administrative/support function, and 2) strategic adviser helping to frame and then direct execution of growth strategies through the marketing department and its resources, the more likely the firm will align the right skill sets to the job and benefit accordingly.”
WHAT HAPPENS NEXT
“The current war for and high cost of CMO talent, in conjunction with an increasingly challenging marketplace, is driving law firms to rethink what they need, and can get, from CMOs and other resources to help them succeed. New approaches are in the works. For example, firms have tapped director-level marketers to take on more “builder” and “steward” operations to free up the CMO for additional strategy work. And new, nonpartner positions for director of strategic planning and chief marketing strategy and business development officer are being created, with Cravath and Orrick two recent examples, respectively.
“There is no one right job description, title, reporting structure or pay scale for today’s law firm’s head marketer. What matters most is that the responsibilities for the various elements in the marketing mix are aligned with authority, all are clear as to who in the firm is accountable for what, and the structure facilitates forward movement as defined and measured by the particular firm.”