Diana Marszalek 11 Dec 2024 // 7:04PM GMT
![CCO Study: Business Acumen Is Now An Imperative](https://www.provokemedia.com/images/default-source/default-album/shifta8b5bc4a918367d3ac1bff0000c9ebb1.png)
Five Key Takeaways:
- CCOs are increasingly expected to prioritize business expertise over traditional communications roles.
- Impact is now measured by business outcomes like revenue growth and shareholder value, not just media impressions.
- The integration of internal and external communications is critical for cohesive stakeholder engagement.
- CCOs are leveraging close alignment with CEOs to influence strategy, manage reputational risks, and build trust.
- Many CCOs are transitioning to broader roles such as "corporate affairs," reflecting expanded responsibilities.
NEW YORK — The role of in-house communications leaders continues to evolve, with chief communications officers increasingly expected to be “business experts first, communications leaders second,” according to new research.
“The Shifting Role of the Communications Executive,” a study from Weber Shandwick’s United Minds, found that communications heads are taking on responsibilities that directly impact corporate strategy. This shift is so pronounced that individuals with management consulting backgrounds, rather than traditional PR expertise, are increasingly assuming top communications roles.
“Any business decision is going to impact stakeholders, so you need a CCO at the table who doesn’t just do comms,” said United Minds managing director Ben Kalevitch, who, along with senior strategist Geren Raywood, led the study.
Walmart CCO Allyson Park emphasized this evolution: “The CCO role is constantly evolving and today requires new capabilities, competencies, and understanding. It’s no longer about being the communications expert. One needs a high level of business and financial acumen combined with a deep knowledge of the external environment, including knowing your customer, industry, policy, and regulations.”
Based on in-depth interviews with 13 communications executives, the study found that to maintain their “hard-earned seat as the right hand to the CEO,” CCOs must speak the language of the P&L and demonstrate return on investment—not only for the communications function but also for broader corporate initiatives they influence.
This evolving role means CCOs must prove their value differently. Metrics such as media impressions or social media reach are no longer sufficient. Instead, communications leaders are now evaluated on their ability to drive business outcomes, including revenue growth, market positioning, and shareholder value. A deep understanding of financial metrics, operational challenges, and strategic goals has become essential for success.
The study highlights the importance of “soft power,” with communications leaders aligning closely with CEOs to shape organizational narratives, manage reputational risks, and drive stakeholder trust.
“Leaders understand that to effectively promote and protect corporate reputation and truly shape business direction, their place in the C-suite must be earned,” the study said. The changing nature of the CCO’s role is also reflected in their evolving titles. “In many cases, this was an evolution in title as well as remit, with the role and function shifting from ‘communications’ to ‘corporate affairs,’” the study noted.
The research also explored the critical role of internal communications in fostering employee engagement, particularly during the Covid-19 pandemic. It found that many organizations continue to struggle with siloed approaches to internal and external communications. Communications executives are increasingly tasked with integrating these functions to deliver a cohesive and authentic brand message that resonates across all stakeholders—employees, customers, investors, and the broader community.
Raywood noted that the shifting responsibilities of CCOs reflect a fundamental transformation in the nature of in-house communications.
“In the past, it was about how we spin ourselves out of this crisis. Now it’s about how we impact stakeholder perception, belief, behavior, and action—and that’s a very different calculus,” she said.