![]() However, Snowflake is unique in this regard, as more than 80% of organizations in this study did not have a chief marketer with this career milestone on their resume.Ĭonsider the specific type of marketing skill set each candidate possesses. As discussed at our recent ICONIQ Ideas Growth event on “CMOs Talk IPOs,” Snowflake was led through IPO by a CMO who had previously guided two separate organizations through their IPOs. At the 49 companies we analyzed, we were surprised to find that only 15% of marketing leaders at the time of IPO had previously taken another company public as a head of marketing. In addition to prior head of marketing experience, we often hear CEOs and founders express a preference for marketing leadership candidates with prior IPO experience. Prior IPO experience is not a prerequisite for success. Together, those with prior head of marketing experience, “company veterans,” and “industry veterans” accounted for over 85% of marketing leaders at the time of IPO at the companies we studied. ![]() Of the leaders who had run a marketing function before, more than two-thirds had done so at either a public company or a late-stage private company that had raised more than $100M in venture funding. Their tenure at these organizations ranged from six to 16 years with an average of 11 years. However, in lieu of experience heading the marketing function, these leaders were typically at a VP+ level with a decade-long tenure at a large public technology company like Salesforce or Microsoft. Industry veterans: In other cases, companies hired externally for their head of marketing, choosing someone who had not held the role before. However, they led marketing at this organization for more than six years before the IPO, first as a director and then as a VP, and they remain the chief marketing officer today. For example, one company in our dataset was shepherded through their IPO by a marketing leader who had not run a marketing function previously (i.e., before joining this organization). What these marketers lacked in prior head of marketing experience they made up for with experience garnered within the walls of the company that they later led through IPO. Those who had not run a marketing function before typically came from one of two backgrounds:Ĭompany veterans: In some cases, deep knowledge of the organization can substitute for prior experience running a marketing function. In fact, we observed two common paths to landing this leadership role for the first time, each with significant operational merits. However, this is not to say that the first-time heads of marketing were unqualified.
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