The Chief Marketing Officer (CMO) has been seen as a necessary executive role for years. However, many companies—especially in today’s fast-evolving market—find that a single CMO cannot effectively cover all aspects of modern marketing. Instead, a more strategic approach is to split the role into three specialized functions:
1. Growth Marketing Leadership – Driving customer acquisition and revenue.
2. Corporate Communications – Managing brand reputation and messaging.
3. Investor Relations (for Public Companies) – Communicating financial strategy to stakeholders.
I have worked with some outstanding CMOs in my career, and the good ones bring serious firepower to an organization. They are the rare ones, and I have also found it true that many CMOs are hired into the role because the CEO thinks he/she needs a CMO when, in reality, they need horsepower in separate but equal functions. A good CMO will bring fire to a marketing team, while a bad CMO will burn it down.
1. Growth Marketing: Data-Driven and Performance-Focused
Modern marketing is no longer just about branding—it’s about measurable growth. A Growth Marketing Leader (e.g., VP of Growth, Head of Revenue Marketing) focuses entirely on customer acquisition, retention, and revenue impact.
This role is:
• Data-driven – Leveraging analytics and A/B testing to optimize campaigns.
• Performance-focused – Scaling paid and organic strategies that deliver ROI.
• Aligned with sales – Ensuring marketing efforts directly contribute to revenue.
Unlike a traditional CMO, who often gets pulled into branding, PR, and internal politics, a Growth Marketing Leader is laser-focused on business outcomes.
2. Corporate Communications: Protecting and Strengthening the Brand
While growth marketing drives revenue, corporate communications safeguards reputation. This function—led by a Chief Communications Officer (CCO) or VP of Communications—ensures consistent messaging across media, public relations, internal comms, and crisis management.
Responsibilities include:
• Public Relations & Media Strategy – Managing press, partnerships, and brand perception.
• Internal Communications – Aligning employees with the company mission and messaging.
• Crisis Management – Handling reputation risks proactively.
With a dedicated communications leader, companies avoid diluting their brand messaging while allowing marketing to focus purely on growth.
3. Investor Relations (for Public Companies): Specialized Financial Messaging
For publicly traded companies, investor relations (IR) is too critical to fall under marketing. A Head of Investor Relations ensures financial transparency, builds credibility with analysts, and aligns corporate storytelling with shareholder expectations.
Key functions include:
• Quarterly earnings communications.
• Investor and analyst relations.
• Regulatory and financial disclosures.
A traditional CMO often lacks the financial acumen to manage investor relations effectively. A dedicated IR professional ensures that financial messaging is precise, compliant, and investor-focused.
Conclusion: A More Effective, Modern Structure
The CMO role is outdated in many organizations. Marketing today demands specialization and accountability—and no single executive can excel at brand management, revenue growth, and investor relations at the same time.
By splitting marketing into three distinct functions, companies create a more efficient, results-driven structure that ensures:
✔ Growth marketing delivers measurable business impact.
✔ Corporate communications maintain and strengthen brand reputation.
✔ Investor relations secures stakeholder trust (for public companies).
In today’s competitive landscape, a leaner, more focused marketing leadership model isn’t just an alternative to a CMO, it’s a competitive advantage. If the CMO brings agility, accountability, and the ability to stand among the product and revenue C-level execs as equals, the effect will be magic.
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