A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in a company that must do with creating, communicating and delivering choices which have value for customers, purchasers or enterprise partners.
A CMO’s major mission is to facilitate growth and enhance sales by creating a comprehensive marketing plan that will promote model recognition and assist the group gain a competitive advantage. In an effort to achieve their own goals and successfully shape their firms’ 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 working officer (COO) and hold advanced degrees in both enterprise and marketing. A CMO who has a powerful background in information technology may additionally hold the job title chief marketing technologist (CMT). In some larger organizations, nonetheless, these positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive in charge of creating the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position in the group, she or he oversees these functions throughout all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, utilizing traditional strategies, as well as newer applied sciences similar to data analytics;
decide how and the place the corporate ought to be positioned in the future;
develop the strategy to drive the organization to that future market position; and
execute on that strategy.
The CMO’s work is predicted to produce top-line results, with marketing efforts raising the brand awareness, recognition and loyalty that will in the end lead to elevated sales.
As such, the CMO is expected to work closely (or in some organizations even lead) the sales unit.
Wage and pay construction
In line with PayScale, total compensation for a U.S.-based CMO ranges from almost $eighty five,000 to about $315,000.
The CMO’s experience level and the geographic location of the position affect the pay, as does the dimensions of the organization.
PayScale puts the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money by an annual wage, particular person bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to support its general mission. These include:
overseeing the development and placement of the creative elements that position the corporate 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 corporate’s public relations efforts, or working in conjunction with inner and external public relations teams to create a coordinated message.
Why the CMO function has gained prominence
The technology advancements of the twenty first century have elevated the importance of the CMO position in many 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 reach clients and understand their thoughts on products, providers and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadforged their opinions to doubtlessly thousands, if not millions, of people.
On the identical time, CMOs and their groups are able to faucet those technologies to reach and affect prospects, position their products and problem competitors at the identical speed and scale because the customers.
As it has been with different C-suite executives in this new technology-pushed business paradigm, the CMO should collaborate much more extensively with his or her executive peers with a view to keep pace. CMOs also must be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
Qualifications
CMOs, who can also have the title of vice president of sales and marketing, usually have a minimum of a bachelor’s degree in marketing (though an MBA is usually favorred, if not also required). They often have a minimum of a decade of expertise in marketing and/or advertising and multiple years of expertise in a managerial role.
They’re expected to have robust leadership skills, expertise in project development, glorious communication skills and a high level of business acumen.
In addition, the CMO position immediately requires a high level of technical aptitude to maximise the tools and leverage the social media platforms which might be essential to marketing efforts.
As an example, CMOs are anticipated to supervise the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly through consumer-generated media and how that insight can drive sales.
They’re additionally expected to direct marketing campaigns and customer outreach by way of current — and rising — social media sites, as well as by means of traditional channels.
To that finish, CMOs should be highly inquisitive and innovative, able to determine rising applied sciences that might disrupt their enterprise or business and also then able to reply to that by directing his or her C-suite colleagues on how one can reposition the corporate in light of that change.
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