Law firm Chief Marketing Officers (CMOs) are stepping into the role of Chief Operating Officer (COO). We may see more of this as long-time COOs retire and law firm leaders search for new talent.
How can CMOs position themselves for this opportunity?
Understand the Business of Law: Knowing and demonstrating that you know the business behind a successful law firm is critical to being considered for COO. Get seated alongside firm leadership so that you may learn to influence daily operating decisions most effectively.
Develop a Strategic Vision: Top CMOs already think ‘big picture’ but to become COO, they need to extend that vision across all operational areas. Adopt a change management mindset that guides the firm through a host of transitions over time.
Financial and Budgeting Acumen: Understanding the numbers is crucial. Being comfortable with budgets, financial forecasting, and profit/loss statements.
Embrace Technology: To keep ahead of the competition, COOs must champion technology solutions that propel the firm. Since CMOs often lead digital transformation efforts, this background naturally lends itself to the COO job.
People Skills and a Client Centric Approach: Marketing leaders often excel at relationships. As COO, they'll need to apply these skills across the firm to manage diverse teams and personalities.
The CMO to COO path is attainable for those marketing leaders with the right mix of skills and ambition. As law firms continue to compete and innovate, they will be searching for talent in new and different ways.
- Jason Caramanico