Last year championed the need to better align sales and marketing with our sales partners, SBR Consulting. Many conversations with PE, investors, and CEO’s later, we predict this year, 2024, will be the rise of the Chief Growth Officer (CGO).

The Chief Growth Officer role will reshape organisations to stay ahead and engage with customers throughout the acquisition lifecycle, bringing a strategic focus on growth across different business aspects​​.

What is a Chief Growth Officer?

The Chief Growth Officer typically oversees both marketing and sales functions, symbolising the blurring lines between these traditionally separate departments. This role is central to driving synergy between marketing strategies and sales objectives, ensuring that both teams work towards common growth goals. The CGO’s oversight supports a more unified approach to the customer journey, from awareness and engagement to conversion and retention.

This shift will lead to a more integrated approach, where marketing and sales collaborate closely to ensure a seamless customer journey from initial awareness to final purchase. This integration demands a deep understanding of the sales process by marketing teams and vice versa.

Marketing teams have already taken on a more significant role in lead qualification, using advanced data analytics to score leads and identify the most promising prospects. They’re also more involved in lead nurturing activities, using personalised content and targeted communications to engage potential customers over time, effectively warming them up for the sales team. This integration ensures that marketing messages are consistent across all stages of the customer journey and that the customer experience is cohesive and compelling.

How will the Chief Growth Officer change marketing?

Unlike traditional marketing roles that primarily focus on brand awareness and lead generation, the CGO is responsible for driving overall business growth. This includes identifying new market opportunities, developing strategies for customer acquisition and retention, and ensuring sustainable revenue growth. The CGO’s holistic view of the business aligns with the shift towards integrated, cross-functional strategies in marketing and sales.

The CGO also plays a critical role in shaping the culture and structure of the organisation to support growth. This includes fostering a culture of collaboration across departments, breaking down silos, and encouraging a customer-centric approach throughout the organisation.

Companies already adopting the Chief Growth Officer role

The CGO role is seen as hybrid, integrating parts of marketing, sales, product, tech, and consumer advocacy. This integration is a response to the changing nature of marketing and the need for a more holistic approach to growth and customer engagement. Large corporations like Johnson & Johnson, Coca-Cola, Hyatt, and Lyft have revamped traditional roles like the CMO, shifting towards the CGO model. This transition underscores the need for roles that not only oversee marketing efforts but also contribute to revenue generation and strategic growth initiatives​​.

The rise of the Chief Growth Office

A survey conducted by Singular* of 700 companies revealed that 14% of them have Chief Growth Officers. This survey also highlighted that CGOs bring a significant change to organisations, breaking down silos and unifying departments around growth. At CGO-led companies, there are indications of larger marketing teams, increased marketing budgets, a focus on granular data, and high prioritisation of AI and automation. This data suggests that the presence of a CGO correlates with a more comprehensive and integrated approach to growth, leveraging technology and cross-departmental collaboration.

The Chief Growth Officer role is not just a trend but a strategic response to the evolving business environment reflecting a shift towards a more integrated, data-driven, and technologically adept approach to business growth.

* https://www.singular.net/blog/cgo/