A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in an organization that have to do with creating, communicating and delivering choices that have value for purchasers, clients or enterprise partners.
A CMO’s major mission is to facilitate progress and improve sales by growing a complete marketing plan that will promote model recognition and assist the organization gain a competitive advantage. So as to achieve their own goals and effectively shape their companies’ public profile, CMOs have to be exceptional leaders and assume the voice of the shopper across the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in each business and marketing. A CMO who has a strong background in information technology can also hold the job title chief marketing technologist (CMT). In some larger 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 buyer outreach. Because the senior most marketing position within the group, she or he oversees these functions across all firm product lines and geographies.
It’s the CMO’s job to:
understand the corporate’s position within the marketplace, utilizing traditional methods, as well as newer technologies comparable to data analytics;
determine how and the place the company must be positioned in the future;
develop the strategy to drive the group 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 finally lead to elevated sales.
As such, the CMO is anticipated to work carefully (or in some organizations even lead) the sales unit.
Salary and pay structure
According 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 scale of the organization.
PayScale places the median compensation for a CMO within the United States at $one hundred seventy,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 help its overall mission. Those embrace:
overseeing the development and placement of the artistic elements that position the company 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 company’s public relations efforts, or working in conjunction with internal and exterior 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 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 achieve customers and understand their thoughts on products, providers and brands.
In addition they have given a new, much more prominent voice to consumers who can instantaneously broadforged their opinions to doubtlessly 1000’s, if not millions, of people.
At the similar time, CMOs and their groups are able to faucet these technologies to achieve and influence prospects, position their products and problem competitors at the same speed and scale because the customers.
As it has been with different C-suite executives in this new technology-driven business paradigm, the CMO must collaborate a lot more extensively with his or her executive friends to be able to keep pace. CMOs additionally must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may also have the title of vice president of sales and marketing, usually have a minimum of a bachelor’s degree in marketing (though an MBA is usually choosered, if not also required). They typically have at the very least a decade of experience in marketing and/or advertising and multiple years of expertise in a managerial role.
They’re expected to have robust leadership skills, experience in project development, wonderful communication skills and a high level of enterprise acumen.
In addition, the CMO position in the present day requires a high level of technical aptitude to maximize the tools and leverage the social media platforms that are essential to marketing efforts.
For example, CMOs are expected to supervise the corporate’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly via consumer-generated media and how that perception can drive sales.
They’re additionally expected to direct marketing campaigns and customer outreach via existing — and rising — social media sites, as well as by traditional channels.
To that finish, CMOs should be highly inquisitive and progressive, able to determine emerging technologies that could disrupt their enterprise or trade and also 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.