A CMO (chief marketing officer) is a C-level corporate executive accountable for activities in a corporation that should do with creating, communicating and delivering choices which have value for purchasers, clients or business partners.
A CMO’s main mission is to facilitate growth and increase sales by developing a comprehensive marketing plan that will promote brand recognition and assist the group gain a competitive advantage. With the intention to achieve their own goals and successfully form their corporations’ public profile, CMOs have to be distinctive leaders and assume the voice of the shopper across the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a robust background in information technology might also hold the job title chief marketing technologist (CMT). In some bigger 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 command of growing the strategy for corporate advertising and branding, as well as buyer outreach. Because the senior most marketing position in the organization, she or he oversees these functions across all company product lines and geographies.
It’s the CMO’s job to:
understand the company’s position within the marketplace, using traditional methods, as well as newer applied sciences similar to data analytics;
determine how and the place the company must 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 expected to produce top-line results, with marketing efforts elevating the brand awareness, recognition and loyalty that will ultimately lead to elevated sales.
As such, the CMO is predicted 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.-primarily based CMO ranges from practically $eighty five,000 to about $315,000.
The CMO’s expertise level and the geographic location of the position influence the pay, as does the size of the organization.
PayScale places the median compensation for a CMO in the United States at $170,000.
CMOs make that cash via 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 help its general mission. These include:
overseeing the development and placement of the creative parts 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 corporate’s public relations efforts, or working in conjunction with inside and exterior public relations teams to create a coordinated message.
Why the CMO role 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 prospects and understand their thoughts on products, providers and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadforged their opinions to probably hundreds, if not millions, of people.
On the similar time, CMOs and their teams are able to faucet those technologies to reach and influence prospects, position their products and challenge competitors on the same speed and scale as the customers.
As it has been with different C-suite executives in this new technology-driven enterprise paradigm, the CMO must collaborate much more extensively with his or her executive friends in an effort to keep pace. CMOs additionally have to be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
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 commonly preferred, if not additionally required). They generally have at least a decade of expertise in marketing and/or advertising and a number of years of experience in a managerial role.
They’re expected to have robust leadership skills, experience in project development, glorious 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 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 buyer preferences, priorities and patterns particularly via user-generated media and how that perception can drive sales.
They’re additionally anticipated to direct marketing campaigns and customer outreach via present — and rising — social media sites, as well as via traditional channels.
To that finish, CMOs have to be highly inquisitive and progressive, able to determine emerging technologies that would disrupt their business or trade and in addition then able to respond to that by directing his or her C-suite colleagues on how you can reposition the company in light of that change.