A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in a corporation that must do with creating, speaking and delivering offerings that have value for patrons, clients or business partners.
A CMO’s main mission is to facilitate development and improve sales by growing a complete marketing plan that will promote brand recognition and help the organization achieve a competitive advantage. With a view to achieve their own goals and successfully form their corporations’ public profile, CMOs have to be exceptional leaders and assume the voice of the client throughout the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a robust background in information technology may also hold the job title chief marketing technologist (CMT). In some bigger organizations, nevertheless, these positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive answerable for growing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position within the organization, he or she oversees these functions throughout all company product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, using traditional strategies, as well as newer technologies equivalent to data analytics;
decide how and the place the corporate should be positioned in the future;
develop the strategy to drive the group to that future market position; and
execute on that strategy.
The CMO’s work is expected to produce top-line outcomes, with marketing efforts elevating the brand awareness, recognition and loyalty that will in the end lead to increased sales.
As such, the CMO is predicted to work intently (or in some organizations even lead) the sales unit.
Wage and pay construction
According to PayScale, total compensation for a U.S.-based CMO ranges from almost $85,000 to about $315,000.
The CMO’s expertise level and the geographic location of the position affect the pay, as does the dimensions of the organization.
PayScale places the median compensation for a CMO in the United States at $170,000.
CMOs make that money by way of an annual salary, individual bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to assist its overall mission. Those include:
overseeing the development and placement of the artistic elements that position the company in the marketplace;
researching and assessing the market and the company’s position in it;
supervising or collaborating with sales to turn marketing insights into sales; and
directing the company’s public relations efforts, or working in conjunction with internal and exterior public relations groups to create a coordinated message.
Why the CMO role has gained prominence
The technology advancements of the 21st century have elevated the importance of the CMO position in lots of organizations. The internet, the ubiquity of mobile computing, the internet of things, analytics, artificial intelligence and social media platforms all have created new ways to succeed in customers and understand their thoughts on products, providers and brands.
They also have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to doubtlessly thousands, if not millions, of people.
On the similar time, CMOs and their teams are able to tap those applied sciences to succeed in and affect prospects, position their products and challenge competitors on the identical speed and scale because the customers.
As it has been with other C-suite executives in this new technology-pushed business paradigm, the CMO should collaborate much more extensively with his or her executive peers in order to keep pace. CMOs additionally have to be capable of adaptation and innovation, as technologies evolve and markets shift in response.
Qualifications
CMOs, who may additionally have the title of vice president of sales and marketing, generally have not less than a bachelor’s degree in marketing (though an MBA is often favorred, if not also required). They generally have a minimum of a decade of experience in marketing and/or advertising and multiple years of experience in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO role at the moment requires a high level of technical aptitude to maximise the instruments and leverage the social media platforms which are essential to marketing efforts.
For instance, CMOs are anticipated to oversee the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly via person-generated media and how that perception can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach via present — and rising — social media sites, as well as through traditional channels.
To that finish, CMOs have to be highly inquisitive and revolutionary, able to identify rising applied sciences that could disrupt their enterprise or trade and in addition then able to respond to that by directing his or her C-suite colleagues on easy methods to reposition the company in light of that change.
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