In the last 2 ½ years I’ve been a new CMO 6 times (5 fractional and 1 full-time). And in that time I’ve developed a checklist of things I needed to accomplish in the first 30 days. As I approach the 30-day mark at Big Lots, I’m reflecting on those items -- some of which I’ve nailed, while others still need a bit of work. While I’m outlining these as a list to make it easier to scan, it’s not necessary to attack all of these in the order shown below. I sure didn't.
Understand the Landscape:
Meet the Team
Schedule one-on-one meetings with key team members to understand their roles, challenges, and ideas.
Meet with your direct report’s teams in a small group setting so they can start to know who you are and you get to know them.
Organize a team meeting to introduce yourself and share your vision.
Review Marketing Plans and Strategies
Evaluate current marketing strategies, campaigns, and initiatives.
Analyze the effectiveness of past campaigns and identify areas for improvement.
Identify the white space or any performance gaps (this can be a critical area for quick wins).
Understand the Brand
Dive into the brand’s history, mission, values, and unique selling propositions (USPs).
Review brand guidelines, messaging, and positioning in the market.
Assess the Market and Competitors
Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) of the company’s position.
Study competitors' strategies and market trends.
Be prepared to borrow shamelessly from what seems to be working.
Deep Dive into Data and Analytics:
Analyze Customer Insights
Review customer demographics, psychographics, and behavior patterns.
Understand customer journey maps and touchpoints.
Get out into the field to meet your customers where they are.
Evaluate Marketing Metrics
Examine key performance indicators (KPIs) and metrics used to measure marketing success.
Identify gaps in data collection and reporting.
Partner with the finance team to develop performance metrics that they’ll believe in and defend. This may get started in the first 30-days but will likely take longer than that to deliver.
NOTE: Avoid using “Marketing Math” (assumptions in calculations not supported by business results to define a return on ad spend). It will ruin your reputation.
Audit Digital Presence
Evaluate the performance of digital marketing channels, including website, social media, email marketing, SMS, affiliate and paid ads.
Review SEO, SEM, and content marketing strategies.
Align and Strategize:
Set Clear Objectives
Define short-term and long-term marketing goals aligned with the company’s overall business objectives.
Prioritize initiatives that will have the most significant impact and execute. Again – look for initial short-term wins but don’t ignore loner-term initiatives.
Develop a Strategic Plan
Create a high-level marketing strategy that outlines key initiatives, target audiences, and channels.
Develop a 90-day action plan with clear milestones and deliverables.
Align with Other Departments
Collaborate with Merchants, IT, customer service, finance and other departments to ensure alignment and support for marketing initiatives.
Establish regular inter-departmental meetings for ongoing collaboration.
Build Relationships and Execute:
Engage with External Partners
Meet with agencies, vendors, and other external partners to understand their contributions and assess their performance.
Evaluate contracts and renegotiate terms if necessary.
Communicate with Stakeholders
Present your findings, strategy, and action plan to the executive team and other key stakeholders.
Ensure buy-in and support from leadership.
Foster Team Collaboration
Encourage open communication and collaboration within the marketing team.
Establish regular team meetings and check-ins.
Listen to your team – let them help you create and drive the plan.
Be the leader you wish you had for your entire career!
Launch Initial Initiatives
Implement quick-win projects that can demonstrate early success and build momentum.
Monitor and measure the impact of these initiatives, adjusting as needed.
Plan for Continuous Improvement
Set up processes for ongoing review and optimization of marketing efforts.
Stay updated on industry trends and emerging technologies to keep the marketing strategy relevant and innovative.
Conclusion:
The first 30 days as a new CMO are crucial for laying the groundwork for long-term success. By making sure you address all of the elements on this checklist, you can ensure that you understand the current landscape, set clear objectives, build strong relationships, and begin executing impactful marketing strategies. Remember, the key to success is continuous learning, adaptation, and alignment with the overall business goals.
Good luck!