TheChallenge for Modern CEOs

Modern CMOs are operating in oneof the most complex marketing environments in history.  Customer expectations are higher than ever;marketing efforts, especially digital, are more fragmented than ever before,and technological changes and advancements have been accelerated.  For modern marketing leaders to besuccessful, they must rethink how their departments are structured to meetevolving business needs, while balancing the art of insourcing and outsourcingtalent.

While thinking about the needs oftoday, and prepping for the uncertainty of tomorrow, agency partners areessential components of a successful team. A good agency partner brings scale, specialization, and innovation thateven the best in-house teams struggle to maintain over extended periods oftime.  But let me let you in on a littlesecret, hiring a world-class agency is not enough.  Even the best agencies will struggle todeliver their full value without a well-structured and staffed internal team.

At the end of the day, an agencypartner is an investment, and the right internal team and department structureenables CMOs to maximize their investment by aligning execution with strategy,resulting in measurable business outcomes.

TheFounding Principle: Agencies Extend, Not Replace

All agency partners are intendedto extend the firepower of an internal team; they are not substitutes.  They provide deep channel expertise, creativepower, and additional resources. However, they should not be responsible for brand vision, first-partydata ownership, or aligning business goals to marketing efforts.  The ownership of those responsibilities must residewith the internal team, or agencies risk drifting away from the CMO’s goals,objectives, and priorities.

WhatDoes the Optimal Internal Marketing Team Look Like?

When building an internalmarketing team to partner with an agency, there are three essential componentsthat will help you maximize the value your agency partnership provides.

1.       Strategic Lead / Agency RelationshipOwner

Every CMO needs a senior internalleader who manages all agency partnerships. This individual is responsible for ensuring alignment between the agencyand corporate goals, with the three top priorities listed below.  Without this role, agencies often getconflicting priorities from multiple internal stakeholders, leading toperformance inefficiency and misalignment on corporate objectives.

·     Owns each agency relationship, serving as themain point of contact and accountability.

·     Translates corporate goals and objectives intoactionable marketing direction.

·     Ensures the CMO’s vision and expectations areclearly communicated to all relevant parties.

2.       Channel Oversight through FunctionalLeads

The next internal team layer iscomposed of functional leaders or subject matter experts.  These individuals should be experts in theirfield, but are not intended to replace agency execution.  Instead, they should be

·     Defining strategic priorities and guardrails fortheir functional area and communicating them to their agency partners.

·     Integrating agency deliverables with businessneeds and translating their meaning internally as needed.

·     Work alongside agency partner to ensure quality,consistency, and accuracy across all campaigns and components.

For most companies, traditionally,there are four categorical functional leads needed.  

·     Paid Media

·     Creative & Content

·     MarTech & CRM

·     Social & Community

For example, a Paid MediaFunctional Lead should set investment priorities and define performance KPIs,while the agency handles planning, execution, and optimization.  This fosters an environment based on clearcommunication, and helps to avoid a duplication of efforts.

3.       Data Custodian

In today’s ever-evolving marketinglandscape, if there is one position that is a non-negotiable for CMOs, it isthe Director, Data & Analytics.  Thisrole takes the guess work out of the data, by ensuring data integrity andaligning external and internal reporting with core business KPIs.  The Director, Data & Analytics is thesource of truth for all metrics and reporting.

While agencies often bringadvanced analytics capabilities to the table, internal ownership ensures thedata points and insights are trusted among senior leadership and throughout theorganization.  

InclusiveCulture: Partner, Not Vendor

The most effective and successfulCMOs build and foster an inclusive culture where agencies feel like extensionsof the team.  This mentality creates anenvironment allowing for real-time debates and innovations.  When an agency feels like part of the team,immersed in the brand’s culture, they start to anticipate needs and proactivelywork to surface new ideas that meet corporate goals by taking strategic orcreative risks and investing their best talent in the relationship.

Circling back to the foundingprinciple of agencies extend, not replace; remember, you can always higher aworld-leading agency.  But the realimpact and multiplier comes from how a CMO structures their internal team.  

Overdrive is a world-leadingdigital marketing agency with global reach, and industry-leading experience inthe B2C and B2B spaces.  Whether you arelooking for a new agency partner or your first, we want to talk with you!  

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