A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in a corporation that must do with creating, communicating and delivering choices which have worth for patrons, purchasers or enterprise partners.
A CMO’s main mission is to facilitate development and improve sales by creating a comprehensive marketing plan that will promote model recognition and assist the organization acquire a competitive advantage. So as to achieve their own goals and successfully form their firms‘ public profile, CMOs should be distinctive 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 both business and marketing. A CMO who has a powerful background in information technology can 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 charge of creating the strategy for corporate advertising and branding, as well as customer outreach. Because 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 corporate’s position in the marketplace, utilizing traditional methods, as well as newer applied sciences akin to data analytics;
determine how and the place the corporate needs to 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 results, with marketing efforts raising the brand awareness, recognition and loyalty that will in the end lead to increased sales.
As such, the CMO is expected to work closely (or in some organizations even lead) the sales unit.
Wage and pay structure
According to PayScale, total compensation for a U.S.-based CMO ranges from nearly $85,000 to about $315,000.
The CMO’s experience level and the geographic location of the position affect the pay, as does the scale of the organization.
PayScale puts the median compensation for a CMO within the United States at $a hundred and seventy,000.
CMOs make that cash by means of 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 assist its total mission. These include:
overseeing the development and placement of the artistic components that position the company 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 inner and external 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 reach prospects and understand their thoughts on products, companies and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to doubtlessly 1000’s, if not millions, of people.
On the same time, CMOs and their teams are able to tap these applied sciences to reach and influence clients, position their products and challenge competitors at the similar speed and scale because the customers.
As it has been with different C-suite executives in this new technology-driven enterprise paradigm, the CMO should collaborate much more extensively with his or her executive friends as a way to keep pace. CMOs also have to 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, generally have no less than a bachelor’s degree in marketing (though an MBA is usually wantred, if not additionally required). They often 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 strong leadership skills, experience in project development, glorious communication skills and a high level of enterprise acumen.
In addition, the CMO position right this moment requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which might 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 by means of person-generated media and the way that perception can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach by way of present — and rising — social media sites, as well as through traditional channels.
To that finish, CMOs must be highly inquisitive and innovative, able to establish emerging applied sciences that might disrupt their business or business and likewise then able to reply to that by directing his or her C-suite colleagues on tips on how to reposition the corporate in light of that change.