B2B CMOs on the Move: June 2024
In June 2024, B2B companies like Qualtrics and Axonius appointed new CMOs—Lynn Girotto and Joe Diamond respectively—who bring extensive marketing leadership experience to drive increased digital ad spending, agency collaborations, and strategic shifts aligned with evolving consumer behaviors and heightened expectations for marketing innovation.
CMOs tend to move from one company to another more frequently than their peers in other top executive roles. This movement allows them to gain experience in different industries, collaborate with various teams, and expand their skill sets. However, a CMO's success depends not only on marketing expertise but also on finding a company that aligns with their values and work style. As the marketing landscape evolves, the expectations for CMOs continue to rise, requiring constant adaptation and growth.
While each brand below welcomes a new marketing executive, there are notable similarities among them, such as increased digital display budgets, agency reviews, and shifts in consumer behavior. Here are the latest B2B CMO appointments and related marketing insights:
1) Qualtrics
Qualtrics, an experience management company, appointed Lynn Girotto as CMO in May 2024. Girotto joins from Vimeo, where she held the same title, and is now responsible for global marketing efforts, including brand, communications, demand generation, and product marketing.
Target demographic: Businesses needing customer & employee management services
Qualtrics will likely:
- Increase digital spending
- Experiment with additional marketing channels
- Outsource some marketing duties to agency partners
Digital and social insights:
- YTD spend: Nearly $1.3m on digital display ads (up from $151.8k in the same period of 2023)
- YTD data: 160.3m impressions via Direct (99%) and Google AdX+AdSense (1%)
- 2022-2023 spend: $693.6k in 2022, $716.7k in 2023
- Ad locations: LinkedIn, politico.com, YouTube, Facebook
Agency analysis: Girotto may outsource some duties; connect now to be considered.
2) Axonius
Axonius, a cybersecurity asset management platform, hired Joe Diamond as CMO in May 2024. Diamond previously served as global demand marketing VP at Okta and now oversees all global marketing initiatives. The company, launched in 2017, is likely still building initial awareness.
Target demographic: Organizations needing digital infrastructure services
Axonius will likely:
- Return to 2022 spending levels
- Invest in new marketing channels
- Outsource some marketing responsibilities to agencies
Digital and social insights:
- YTD spend: Around $269.3k on digital display ads (up from $126.1k in the same period of 2023)
- YTD data: 41.5m impressions via Direct (97%) and Google AdX+AdSense (3%)
- 2022-2023 spend: $11.7m in 2022, $489.2k in 2023
- Ad locations: LinkedIn, YouTube, rollingstone.com, msn.com, deadline.com
Agency analysis: Contact Diamond to discuss potential services.
3) Duck Creek Technologies
Duck Creek Technologies, a property and casualty insurance software provider, appointed Bindu Crandall as CMO in May 2024. Crandall previously served as CMO of Navisite and will lead strategic marketing and branding to drive global growth.
Target demographic: Insurance companies
Duck Creek Technologies will likely:
- Significantly increase marketing spend
- Try new marketing channels
- Seek agency assistance
Digital and social insights:
- YTD spend: No digital ads placed this year
- 2022-2023 spend: $4.8k in 2022, $331 in 2023
- 2022 data: 693.8k impressions via Programmatic
- Ad locations: insurancebusinessmag.com, pch.com, daily-choices.com, wallpaperflare.com, sto.cx
Agency analysis: Reach out to Crandall to be considered for agency partnerships.
4) Liongard
Liongard, an IT software company, appointed Stephanie Weagle as CMO in May 2024. Weagle joins from Atakama and will lead marketing strategy, lifecycle marketing, demand generation, and events.
Target demographic: Businesses needing attack surface management services
Liongard will likely:
- Increase ad spend
- Explore new marketing channels
- Seek agency assistance
Digital and social insights:
- YTD spend: About $1.8k on digital display ads (down 10% from $2k in the same period of 2023)
- YTD data: 690k impressions via Programmatic (82%) and Direct (19%)
- 2022-2023 spend: $7.5k in 2022, $2k in 2023
- Ad locations: stylecaster.com, ultrasurfing.com, espncricinfo.com, horoscope.com, aonprd.com
Agency analysis: CMO hires often signal upcoming agency appointments.
5) Temporal Technologies
Temporal Technologies, an open source durable execution system launched in 2019, hired Clair Byrd as CMO in May 2024. Byrd previously served as CMO of Sauce Labs and now leads all marketing operations.
Additional hires:
- Brandon Moorer, digital marketing manager (January 2024)
- Irina Belova, product marketing manager (August 2023)
- Meagan Speare, senior product marketing manager (August 2023)
Target demographic: Businesses
Temporal Technologies will likely:
- Significantly increase marketing investment
- Experiment with new ad channels
- Seek agency assistance
Digital and social insights:
- YTD spend: No budget allocated to digital display ads so far this year
- 2023 spend: Roughly $1.5k in this channel
- 2023 data: 600.2k impressions via Programmatic (59%), Ad Network (39%), Direct (2%)
- Ad locations: foxnews.com, merriam-webster.com, cnn.com, finance.yahoo.com, zillow.com
Agency analysis: The Winmo team is reaching out with PR services initially.
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