A CMO (chief marketing officer) is a C-level corporate executive liable for activities in a corporation that must do with creating, speaking and delivering choices which have worth for customers, purchasers or enterprise partners.
A CMO’s main mission is to facilitate progress and enhance sales by growing a complete marketing plan that will promote model recognition and help the group acquire a competitive advantage. To be able to achieve their own goals and effectively form their corporations‘ public profile, CMOs must be distinctive leaders and assume the voice of the customer throughout the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in each business and marketing. A CMO who has a strong 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 accountable for growing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position within the group, she or he oversees these capabilities throughout all company product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position within the marketplace, using traditional methods, as well as newer technologies akin to data analytics;
decide how and the place the company must be positioned sooner or later;
develop the strategy to drive the group to that future market position; and
execute on that strategy.
The CMO’s work is predicted to produce top-line outcomes, with marketing efforts elevating the model awareness, recognition and loyalty that will finally lead to increased sales.
As such, the CMO is anticipated to work carefully (or in some organizations even lead) the sales unit.
Salary and pay construction
Based on 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 affect the pay, as does the size of the organization.
PayScale places the median compensation for a CMO within the United States at $170,000.
CMOs make that cash by means of an annual wage, individual bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to support its overall mission. These include:
overseeing the development and placement of the creative 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 external public relations groups to create a coordinated message.
Why the CMO role has gained prominence
The technology advancements of the twenty first century have elevated the significance 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 succeed in prospects and understand their thoughts on products, companies and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadsolid their opinions to potentially hundreds, if not millions, of people.
On the similar time, CMOs and their groups are able to tap those applied sciences to achieve and affect clients, position their products and problem competitors on 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 must collaborate much more extensively with his or her executive peers with the intention to keep pace. CMOs additionally must 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 a minimum of a bachelor’s degree in marketing (although an MBA is commonly preferred, if not additionally required). They typically have not less than a decade of expertise in marketing and/or advertising and multiple years of expertise in a managerial role.
They’re anticipated to have sturdy leadership skills, expertise in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO function at present requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which can be essential to marketing efforts.
For instance, CMOs are expected to supervise the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly through consumer-generated media and the way that insight can drive sales.
They’re additionally expected to direct marketing campaigns and buyer outreach by way of current — and emerging — social media sites, as well as by means of traditional channels.
To that finish, CMOs have to be highly inquisitive and innovative, able to identify rising technologies that would disrupt their enterprise or trade and likewise then able to respond to that by directing his or her C-suite colleagues on how to reposition the company in light of that change.