The Transition of the Chief Marketing Officer to the Chief Growth Officer-It’s the Real Thing

The Transition of the Chief Marketing Officer to the Chief Growth Officer-It’s the Real Thing

Last year brought about many major shifts and conversations in the healthcare industry; from new national health plans to ongoing debates of repeal or reform of the Affordable Care Act. All of these have had an impact on healthcare marketing and most organizations are holding tight on any specific directions until policies are determined. Another trend that healthcare marketers have to watch, based on what has occurred in the land of big brands, is the shift from the Chief Marketing Officer (CMO) to Chief Growth Officer (CGO). Leave it to Coca-Cola, one of the best known and most valuable brands on the globe to lead the way. When its CMO resigned in 2017, Coca-Cola didn’t replace his position, the first time it was without a CMO in a couple of decades. Rather, it hired a CGO and now other big brands have followed suit. This trend will certainly lead to some alterations in hospital marketing departments, too. The rationale for this change at Coke was that it was part of a restructuring to turn the company into a “growth oriented, and consumer-centered   organization.” Wait, what? Coca-Cola replaced its top­ ranked marketing executive with another position that will generate growth and provide a consumer focus. Isn’t that marketing’s job? Shouldn’t a top marketer be doing that? Bottom-line, marketing at Coke and at many global brands, is not seen as a “growth” department; one that adds revenue, new operations, and new customers to the organization. Startling, yes-and here are some supportive statistics: Nearly one-third of CEO’s considered firing their CMO in 2017 according to Forrester Research The average tenure of...
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