Every day we read about the changing role of the CMO and their increased responsibilities and impact on the business. But nothing says marketing has successfully morphed as much as its responsibility from a cost center to aP&L.
Once a function has P&L responsibility, it has no choice but to deliver – to meet measurable goals that contribute significantly to the top and bottom line.With the growth of digital commerce and marketing’s increasing role in it, marketing now has a direct line of sight to revenue.
Scott Davis, author of “The Shift: The Transformation of Today’s Marketers into Tomorrow’s Growth Leaders”, says that for senior marketers to become visionary leaders, a P&L mindset is a requisite. The P&L is where marketing strategies and tactics will ultimately be measured for their effect on the bottom line.
