A CMO (chief marketing officer) is a C-level corporate executive liable for activities in a company that should do with creating, speaking and delivering offerings that have worth for patrons, purchasers or business partners.
A CMO’s primary mission is to facilitate development and improve sales by developing a complete marketing plan that will promote model recognition and help the organization achieve a competitive advantage. So as to achieve their own goals and successfully form their companies’ public profile, CMOs should be distinctive 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, however, these positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive in control of creating the strategy for corporate advertising and branding, as well as buyer outreach. Because the senior most marketing position within the organization, he or she oversees these capabilities across all firm product lines and geographies.
It is the CMO’s job to:
understand the company’s position within the marketplace, utilizing traditional methods, as well as newer applied sciences reminiscent of data analytics;
decide how and the place the company must be positioned sooner or later;
develop the strategy to drive the organization 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 brand awareness, recognition and loyalty that will in the end lead to elevated sales.
As such, the CMO is predicted to work carefully (or in some organizations even lead) the sales unit.
Wage and pay construction
In response to PayScale, total compensation for a U.S.-based mostly CMO ranges from practically $eighty five,000 to about $315,000.
The CMO’s experience 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 $a hundred and seventy,000.
CMOs make that cash by an annual salary, 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 overall mission. These include:
overseeing the development and placement of the artistic components 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 inside and external public relations groups to create a coordinated message.
Why the CMO function has gained prominence
The technology advancements of the 21st 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 clients and understand their ideas on products, providers and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadforged their opinions to potentially 1000’s, if not millions, of people.
At the similar time, CMOs and their groups are able to tap these applied sciences to achieve and influence clients, position their products and challenge competitors at the identical speed and scale as the customers.
As it has been with different C-suite executives in this new technology-pushed business paradigm, the CMO must collaborate a lot more extensively with his or her executive peers as a way to keep pace. CMOs also should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may also 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 wantred, if not additionally required). They often have at 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 sturdy leadership skills, experience in project development, glorious communication skills and a high level of business acumen.
In addition, the CMO position at the moment requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which can be essential to marketing efforts.
As an illustration, CMOs are anticipated to supervise the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by way of user-generated media and how that perception can drive sales.
They’re additionally expected to direct marketing campaigns and customer outreach by way of current — and emerging — social media sites, as well as by way of traditional channels.
To that finish, CMOs have to be highly inquisitive and modern, able to establish rising applied sciences that could disrupt their business or industry and in addition then able to respond to that by directing his or her C-suite colleagues on learn how to reposition the corporate in light of that change.