Is there a new trend emerging at the CMO level in big law? Just this year, we have seen Gibson Dunn and Sidley Austin implement a Co-CMO structure.

In my opinion, there are compelling benefits to taking this approach:

Retaining Talent: Firms might embrace the Co-CMO model to keep two highly qualified professionals who are capable of leading marketing and business development efforts. This most often occurs when a leadership position becomes available and two internal team members are equally suited for the role. By retaining this top talent, firms sidestep the need to hire externally, avoiding the learning curve and adjustment period typically associated with new employees. This strategy also acts as a form of succession planning, maintaining leadership continuity and preserving established relationships throughout the organization.

Diverse Expertise: Legal marketing is a multifaceted discipline that requires individuals to have strong competencies across many areas. By harnessing complimentary skills of two candidates, firms are better positioned to provide robust leadership that results in progress immediately. 

Workload Distribution: As firms grow and marketing demand increases, splitting responsibilities and geography between co-CMOs allows firms to better manage increasingly complex marketing challenges. This division of labor also enables sharper focus and improved execution across all areas, ultimately enhancing the effectiveness of the firm’s marketing and business strategies.

Balanced Decision-Making: Two leaders who deeply understand the firm’s marketing objectives, teams and assets provides firms a unique advantage. This style of leadership leverages two expert viewpoints to craft comprehensive strategies, mitigate potential oversights, and ensure thorough implementation of initiatives.

Specialization that Leads to Longevity: Co-CMOs who distribute tasks according to their individual strengths and interests may ultimately experience higher job satisfaction. This positive experience may contribute to longer tenures within the firm, reducing future disruption to the firm’s marketing and business development strategies.

We may see more support for the Co-CMO model as firms seek innovative ways to stay competitive in a rapidly evolving legal landscape. 

I would like to hear success stories from others who have encountered this collaborative style of staffing at the C-suite level.

-Jason Caramanico