A CMO (chief marketing officer) is a C-level corporate executive accountable for activities in an organization that must do with creating, speaking and delivering offerings which have worth for patrons, shoppers or business partners.
A CMO’s primary mission is to facilitate development and enhance sales by growing a comprehensive marketing plan that will promote model recognition and help the organization achieve a competitive advantage. With a view to achieve their own goals and effectively shape their corporations‘ public profile, CMOs should be distinctive leaders and assume the voice of the client across the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in both enterprise and marketing. A CMO who has a powerful background in information technology can also hold the job title chief marketing technologist (CMT). In some larger 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 in command of 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 in the marketplace, utilizing traditional strategies, as well as newer applied sciences resembling data analytics;
determine how and where the corporate should 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 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 expected to work closely (or in some organizations even lead) the sales unit.
Wage and pay construction
Based on 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 influence the pay, as does the size of the organization.
PayScale places the median compensation for a CMO within the United States at $one hundred seventy,000.
CMOs make that money by way 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 help its overall mission. Those embody:
overseeing the development and placement of the inventive parts 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 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 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 reach clients and understand their thoughts on products, services and brands.
Additionally they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to potentially hundreds, if not millions, of people.
On the same time, CMOs and their teams are able to faucet these technologies to reach and affect prospects, position their products and problem competitors on the similar speed and scale as the customers.
As it has been with different C-suite executives in this new technology-pushed enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive friends so as to keep pace. CMOs additionally must be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
Qualifications
CMOs, who may have the title of vice president of sales and marketing, generally have at the very least a bachelor’s degree in marketing (although an MBA is usually wantred, if not additionally required). They generally have at the very least a decade of experience in marketing and/or advertising and a number of years of experience in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, excellent communication skills and a high level of enterprise acumen.
In addition, the CMO function in the present day requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which might be essential to marketing efforts.
As an illustration, CMOs are expected to oversee the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by consumer-generated media and how that insight can drive sales.
They’re also anticipated to direct marketing campaigns and customer outreach by way of existing — and emerging — social media sites, as well as by way of traditional channels.
To that finish, CMOs should be highly inquisitive and revolutionary, able to establish rising applied sciences that could disrupt their business or industry and also then able to answer that by directing his or her C-suite colleagues on the way to reposition the company in light of that change.