PwC Australia is launching an invite-only program for senior marketers to help them drive home the importance of marketing at the executive and boardroom level.
As brand safety, privacy, regulation, transparency and fraud have come to the forefront of marketers minds in the last 24 months, executives beyond the marketing division have been taking a greater interest in the challenges of the digital era.
Chief marketing officers (CMOs) are often given less rope than their C-suite colleges and tend to have shorter tenures, which makes it harder to invest and target long-term marketing initiatives. In the US, CMOs on average last four years in the the role.
PwC's Growth Agenda program will be led by Sunita Gloster from the consulting firm's CMO advisory practice. Ms Gloster is a former chief executive of the Australian Association of National Advertisers and is a marketing columnist for The Australian Financial Review.
"Through the depth of the experience across the PwC network globally, the CMO Growth Agenda will enable Australia's leading marketers to upskill and as the voice of the customer be the catalyst to drive enterprise-wide change to drive growth."
The program, that begins in August, will include modules from the Melbourne Business School and The Marketing Academy.
"Few senior executive positions have been subject to as much change as that of the CMO," PwC managing partner and CMO Mike McGrath said.
"There is a shortfall of credible and relevant development opportunities that are focussed on the challenges and complexity the marketing function must now lean into to deliver sustainable competitive advantage to their companies."
The murky world of digital advertising and transparency has been a hot topic in marketing circles, particularly Google and Facebook's stranglehold over the market.
According to research house Ebiquity, just 40¢ in each dollar spent by Australian advertisers on digital actually reaches media owners, such as publishers.
PwC launched its CMO advisory practice in 2017 to tap into the world of marketing in their clients' business and add a new revenue stream on top of its consulting practice. It has brought on a number of high profile names including Ms Gloster, former Network Ten general manager Russell Howcroft, former Foxtel and Telstra marketer Mark Buckman and most recently former Suncorp chief customer experience officer Mark Reinke.
"Many organisations go down a merger and acquisition path to create new earnings streams," Mr Reinke said.
"These are supported by deep quantitative analysis and robust valuation assumptions. Now more than ever there is a role for the CMO to bring these disciplines to organic growth alternatives. This program will provide the tools and capabilities for marketers to identify, value and mobilise internally to deliver organic growth."