A CMO (chief marketing officer) is a C-level corporate executive liable for activities in an organization that must do with creating, speaking and delivering offerings that have value for purchasers, purchasers or business partners.
A CMO’s major mission is to facilitate development and increase sales by growing a comprehensive marketing plan that will promote model recognition and help the organization acquire a competitive advantage. In order to achieve their own goals and effectively form their firms’ public profile, CMOs must be exceptional leaders and assume the voice of the shopper throughout the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in each enterprise and marketing. A CMO who has a strong background in information technology may additionally 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 developing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position in the group, he or she oversees these features throughout all company product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, using traditional methods, as well as newer applied sciences corresponding to data analytics;
decide how and where the company 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 anticipated to produce top-line outcomes, with marketing efforts raising the brand awareness, recognition and loyalty that will finally 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 structure
In response to PayScale, total compensation for a U.S.-primarily 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 puts 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 help its total mission. Those embody:
overseeing the development and placement of the inventive components that position the corporate within 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 inside and exterior public relations teams to create a coordinated message.
Why the CMO position has gained prominence
The technology advancements of the twenty first 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 ideas on products, providers and brands.
They also have given a new, much more prominent voice to consumers who can instantaneously broadcast their opinions to probably thousands, if not millions, of people.
On the similar time, CMOs and their groups are able to faucet those applied sciences to reach and influence clients, position their products and problem competitors on the same speed and scale because the customers.
As it has been with other C-suite executives in this new technology-driven business paradigm, the CMO should collaborate much more extensively with his or her executive peers with a view to keep pace. CMOs also should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may have the title of vice president of sales and marketing, typically have at the least a bachelor’s degree in marketing (though an MBA is commonly desirered, if not additionally required). They typically have a minimum of a decade of experience in marketing and/or advertising and a number of years of expertise in a managerial role.
They’re anticipated to have robust leadership skills, experience in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO function right now requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which are essential to marketing efforts.
As an illustration, CMOs are expected to supervise the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by means of 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 by traditional channels.
To that finish, CMOs must be highly inquisitive and revolutionary, able to determine rising applied sciences that could disrupt their enterprise or trade and likewise then able to answer that by directing his or her C-suite colleagues on find out how to reposition the company in light of that change.