This year, Chinese companies occupy 391 seats on the Forbes Global 2000 list, second only to 611 in the United States and far ahead of Japan's 192. But this margin ratio has not been able to continue in this year's CMO list.
Only two marketing and brand leaders from China were the focus of the list. On the one hand, many Chinese companies do not have a special position of CMO, but the more important question is, what is the special significance of the long-term concept of brand value shaping and sales growth in the traffic era for Chinese companies?
Sometimes, complex times need to be simplified. Of course, if you accept a simple definition, marketing is fundamentally nothing more than the practice of influencing people's attitudes and behaviors to achieve sustainable, profitable, and growth. Marketers may or may not influence consumers' purchasing decisions. That's what they do.
But is the job of chief marketing officers (CMOs) as simple as the definition above? This is not the case. There is no position in the top management of a company that is more susceptible to changes at the micro, macro and social/cultural/economic levels than the CMO.
Today's chief marketers need to separate useful signals from the unprecedented explosion of noise, adapt to changing attitudes, behaviors, and events in real time, and react to the instantaneous hijacking of consumers, employees, and sometimes even their executive colleagues about their brand narratives; They also need to provide absolute certainty that every dollar invested will result in a 1:1 (and also real-time) return, although this certainty does not exist, and is often only the expectation of those whose understanding of marketing is limited to the fact that someone is selling them this fact.
CMOs oversee (if not control) positioning, products, prices, and promotions, because it used to be their exclusive area of responsibility, but now there are too many people (often but not always) in charge of these responsibilities, like too much butter on toast. This is what characterizes today's brands; They are built, maintained, and sometimes punched in the face by people outside the CMO. But that's the decentralized nature of life, marketing, and CMO influence in 2023.
While we all want simplicity in complexity, in general, all of these factors make it more complex and difficult for chief marketers to effectively exert influence, and as a result, the achievement of being recognized on a list of measures of impact becomes even greater.
The 2023 Forbes list of the world's most powerful CMOs once again recognizes 50 chief marketers who have a prominent impact on their brand, business, culture, people, and global marketing community. Like those inducted into this year's Forbes CMO Hall of Fame, this year's 50 inductees (28 of whom are first-time entrants) are not only worthy of recognition, but also for thinking because they have a lot to learn from them.
Just as the use of marketers' influence is becoming more complex, the assessment of their influence needs to be supported by context, because what seems impactful to one person may not be seen by another. The same goes for marketing, where rational people may disagree, just like other aspects of marketing – which is why, together with our primary research partner, Sprinklr, we took a broad, multifaceted, rigorous and data-led approach, in addition to key complementary data and analysis provided by LinkedIn (LinkedIn), ultimately analysing more than 11 billion individual data points before arriving at this year's 50 entrants.
So, how do we evaluate and measure them? How do we distinguish and identify the impact of a CMO as opposed to the impact of a good (or bad) product? Is the history of the brand inherited or created by them? Are there others whose actions challenge their brand and business beyond their control, whether the outcome is good or bad? The evaluation process is neither simple nor easy, and we will continue to improve our methodology in order to achieve this globally and across multiple industries.
During the 2023 selection process, we selected 2,892 brands or companies from one or more of seven different authoritative data sources, including the Forbes Global 2000 list and the Brand Finance 500 list, an increase from four data sources in 2022. This is also the first year that marketers from unlisted businesses are eligible to attend. If an eligible company or brand does not currently have an executive with a CMO title, we consider their highest-level executive responsible for marketing, customers, and/or digital experiences.
To select the final 50 from nearly 3,000 people, we used a data-driven screening process to score CMOs based on data from 20 separate impact indicators. Our primary research partner, Sprinklr, used their suite of patented products to measure and analyze CMO performance and impact, across 11 billion individual data points, including news stories, mentions, tweets, posts, and comments worldwide. In addition, LinkedIn LinkedIn provides important ancillary data and analytics to measure the impact of CMOs in industries and organizations by analyzing more than 6 million CMOs/brand mentions on its platform and nearly 1.5 million CMO individual engagements.
The 22 metrics that measure CMO impact include personal, brand, marketing and campaign attention, sentiment, and salience; CMOs' visibility in the marketing and business worlds, as well as financial results included for the first time, particularly year-over-year (YoY) revenue and market capitalization metrics for public companies that report the same. We then determine individual scores and CMO rankings based on a weighted aggregation of these 22 metrics. For more details on how the most influential CMOs are scored and ranked, see Sprinklr's companion report.
In total, these 50 most influential CMOs identified in the world come from companies headquartered in 13 countries around the world, with a direct impact on thousands of brands across different categories and industries around the world.
The companies they help manage collectively have nearly 12 million employees worldwide and a market capitalization of nearly $9 trillion (as of May 12, 2023). But, as in previous years, this list is about people, not brands or companies, although of course they are inseparable, because attention is still a bargaining chip for influence, and because influence needs a platform to hear, see, spread and follow.
This year, two CMOs of Chinese companies made the list:
No. 25: Chris Tung
Chief Marketing Officer of Alibaba
Benhong Dong has been Alibaba's Chief Marketing Officer since 2016, leading the marketing organization of Alibaba's portfolio including Alibaba Cloud, Taobao, Tmall, and others.
In 2022, Dong Benhong placed a special emphasis on sustainability to enhance the "green" capabilities of consumers and the company's supply chain partners. In fact, Alibaba is now using the power of its platform to bring more people on board the ambitious goal of achieving carbon neutrality. In addition, the company is not only continuously strengthening its strength in environmental protection, but under the impetus of the marketing department led by Dong Benhong, Alibaba was named the second most valuable brand in China in 2022. In March, Alibaba announced the spin-off into six separate entities to accommodate the growth of the technology industry. Benhong Dong continues to serve as the CMO of Alibaba Group.
No. 30: Jessica Erding Liu
Head of Marketing and Brand at SHEIN
As Shein's newly appointed Vice President of Global Brand Operations, she takes the company's aggressive digital strategy to new heights. Most recently, Liu Xiuyun led the fashion retailer to raise $2 billion in funding.
The SHEIN brand is especially popular among Gen Z at the moment, behind Amazon and Nike among the favorite e-commerce sites of young shoppers. Shein's cost-effective label, combined with its wide variety of inventory, is particularly attractive to younger consumers. Late last year, Shein became one of the world's most downloaded mobile apps and has a dedicated TikTok hashtag #Sheinhaul, which garnered tens of millions of views on the platform. As the brand seeks to shed its reputation for fast fashion, it is also in direct contact with different designers and creators to fund their projects. Since 2020, Shein's revenue has increased tenfold.
Here are the top 10 of Forbes' list of the world's most influential CMOs in 2023.
William White
Chief Marketing Officer, Walmart (USA)
As Chief Marketing Officer of the world's largest retailer, White is responsible for the company's marketing strategy, planning, experience and insight. With a focus on driving customer demand, loyalty and ensuring the enduring strength of the Walmart brand, he has been instrumental in the digital transformation and e-commerce development of the enterprise. With more than 37 million people shopping at Walmart every day in the U.S. alone, under White's leadership, Walmart's marketing has evolved to meet the changing needs and desires of this vast customer base.
To build deeper, differentiated relationships with younger audiences, he launched Walmart's Creator Platform, harnessing the power of these next-generation consumers as creators, collaborators and the media itself, providing them with platforms and tools to recommend, sell and earn rewards. While the future macroeconomic situation remains uncertain, under White's leadership, the brand's revenue in the first quarter of 2023 grew by more than 7% year-on-year, while its share price increased by more than 31% year-on-year as of the close of trading on June 16.
Marcel Marcondes
Anheuser-Busch InBev Global Chief Marketing Officer (Belgium)
Makondes has served as Global Chief Marketing Officer of AB InBev, the world's largest brewer, since April 2022, and his innovative strategic approach has reinvigorated AB InBev's marketing organization and output. Makondes intentionally linked the award to commercial success, and in 2023 he became the first marketer to be named Creative Marketer of the Year twice at the Cannes International Advertising Festival. He manages a portfolio of global brands such as Budweiser, Corona, Stella Artois, and recently Budweiser, which has struggled. Makondes is known as a corporate strategic thinker and leader.
As consumer behavior shifts after the pandemic, he has led a corresponding shift in the go-to-market strategy of his brand portfolio globally. Shortly before the release of this list, AB InBev was recognized by Effie Worldwide as one of the most effective companies for marketing worldwide. As of the end of March, AB InBev reported quarterly revenue growth of more than 7% year-over-year.
Conny Braams
Chief Digital and Commercial Officer, Unilever (UK)
Brahms recently announced that she will leave Unilever in August after 33 years at Unilever, where she was responsible for Unilever's portfolio of 400 brands, including household names such as Dove, Hellman's, LifeBuoy and Vaseline, and was globally responsible for the UK's multinational FMCG giant's end-to-end digital transformation, marketing and customer development. She has been an active advocate of Unilever's goal-driven marketing strategy, which was once questioned by some shareholders. And she advocates not only for changes to the company's brands, but also for broader change.
As of the close of trading on June 16, the company's market capitalization increased by 18% year-on-year, and these challenges seem to have subsided. "The convergence of media, entertainment and commerce has blurred the lines between marketing and sales," noting that Brahms is known for her technologically leading approach to building brand loyalty and is leading the company's focus on its current focus on reducing its environmental impact and making it easier for consumers around the world to make eco-friendly choices.
Greg Joswiak
Senior Vice President, Worldwide Marketing, Apple (USA)
Since joining Apple in 1986, Joswiak has been instrumental in cementing Apple's position as the world's most valuable company (as of this writing, Apple's market capitalization exceeds $2.6 trillion). Joswiak reports directly to Apple CEO Tim Cook. The veteran executive has played a key strategic role in many of the most successful product launches and marketing campaigns in Apple's history, including the original iPod and iPhone.
Today, Joswiak oversees Apple's global marketing efforts. Under his marketing leadership, Apple's strategic focus on privacy and commitment to protecting user data has become a key differentiator and consumer motivator. These initiatives have also forced companies across the industry to react and adapt. As of the close of trading on June 16, the company's share price was up more than 40% year-on-year.
Dirk-Jane van Hameron
(Dirk-Jan Van Hameren)
Executive Vice President and Chief Marketing Officer of Nike (USA)
Van Hamelon is responsible for the global marketing of this well-known brand, and during his tenure as CMO, he has been working on marketing activities that make the brand culturally resonate and relevant with other top brands in the world.
Nike's share of the global footwear market is 22% (34% in the United States), and Van Hameron's marketing efforts continue Nike's long-standing strength in producing "ads" that people want to see. Collaborations with people and brands like Tiffany, Ambush, Kim Jones, and others have all fueled the brand's marketing and continued presence in the cultural news cycle. As companies increasingly focus on the DTC channel, Van Hameron, nicknamed "DJ," and his marketing department are always looking for ways to market the brand's performance and lifestyle. As of February this year, the company's revenue was up nearly 14% year-on-year.
Marian Lee
Chief Marketing Officer, Netflix (USA)
She is the chief marketing officer of one of the world's largest entertainment companies, and in the past year alone, she has overseen the release and promotion of more than 800 Netflix original series worldwide. As the company with more than 232 million users worldwide (as of the end of March) pursues new revenue, including expanding merchandising and user growth, Marianne is part of the leadership team to help manage the brand's shift to in-platform advertising, as well as its expansion into gaming.
In its most recent financial report, the streaming company said that 25 percent of new users were acquired through their new ad-supported service. Instead of spending more on advertising in media, Marianne rethinks how the company sees the role of marketing in engaging a fan audience and has led the strategic shift from "marketing to audiences" to "marketing with them and through them" and from "targeting consumers" to "serving fans." As of the close of trading on June 16, the company's share price was up nearly 150% year-on-year.
Asad Ayaz
Chief Brand Officer of The Walt Disney Company and President of Marketing for Walt Disney Studios and Disney+ (USA)
As Chief Brand Officer of The Walt Disney Company and President of Marketing for Walt Disney Studios and Disney+, Assad's work has attracted the attention of audiences around the world. Assad is responsible for managing and activating the Disney brand globally, directing the company's digital and social strategy and presence, and setting corporate synergy and franchise priorities, and his influence also includes leading consumer research and analysis for Disney brands and franchises, including Marvel, Star Wars and Toy Story, among other iconic global properties.
As President of Marketing for Walt Disney Studios and Disney+, he is responsible for all aspects of global marketing for Disney, Pixar, Marvel, Lucasfilm, and Twentieth Century Studios, as well as marketing for Disney+, content marketing for all studio films, and Disney+ and Hulu series. As of March, the company posted quarterly revenue growth of more than 13% year-on-year.
Mathilde Delhaum-Debler
(Mathilde Delhoume-Debreu)
LVMH Global Brand Officer (France)
Delhoum is the Global Brand Officer of the world's most valuable luxury holding company, and its globally renowned portfolio includes Louis Vuitton, Givenchy, Moët Hennessy and Hublot, just four of its 75 brands and six core business categories. Delheim and her team are responsible for brand image and content, media and customer research, which the company uses as a "center of expertise" for the entire brand portfolio. Delhoum is focused on helping LVMH Maisons enhance their brand appeal, which is a sign of the popularity and performance of luxury brands.
In an uncertain global economic environment, Del Hom's expertise and luxury marketing approach have helped the group achieve impressive financial results; In April, LVMH reported quarterly revenue growth of 23% year-on-year, and as of the close of trading on June 16, its share price rose more than 66% year-on-year.
Tim Ellis
Chief Marketing Officer, National Football League (NFL) (USA)
Ellis is the chief marketing officer of the world's richest sports league, and he manages America's last true mass media asset. Tim Ellis' strategy and creativity play a key role in expanding the rugby league's reach and fan base in the global market. Under Ellis' strategic and creative leadership, the league oversees the NFL's brand strategy, advertising and content creation efforts, and has worked to make its brand, sports, games and the league itself more accessible. The growing focus on grassroots, including contactless flag football, is creating more opportunities for more people to play, inviting new spectators into the sport on new terms.
As an unlisted entity, the NFL does not publicly disclose financial results, but as the valuations of various teams reached new heights, its Washington Commanders were sold for the highest price ever at $6.05 billion. In addition, the Alliance's total annual revenue in broadcasting, licensing, sponsorship, etc. is estimated to exceed $18 billion, with nearly 50% growth over the past three years.
Harish Bhat
Tata Group Brand Manager (India)
As the brand manager and de facto chief brand officer of India's largest corporation, Bart leads the long-term strategy of the Tata brand. The brand is adopted by more than 30 subsidiaries of the parent company, including automotive, consulting services, steel and coffee, among others. As brand manager, Bart plays a key role in building and strengthening the Tata brand in India and globally. His deep understanding of the Indian consumption landscape and the successful new brands he has built for the group over the years such as Titan and Tata Tea have made him a highly influential figure in the marketing industry. As an author and columnist, Bart is also committed to sharing his expertise to inspire the next generation of marketers.
Thanks again to our partners at Sprinklr and LinkedIn, we invite you to get to know the 50 marketers on the 2023 list. On a global scale, they are influencing the character and destiny of our industry and the world itself, just as they influence their own brands and companies.
See the full list
https://www.forbes.com/sites/sethmatlins/2023/06/22/the-forbes-worlds-most-influential-cmos-list-2023/?sh=2ffa94f04bab
Forbes China exclusive manuscript, please do not reprint without permission
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