A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in a corporation that need to do with creating, speaking and delivering offerings which have value for patrons, shoppers or enterprise partners.
A CMO’s major mission is to facilitate progress and enhance sales by developing a complete marketing plan that will promote brand recognition and assist the group gain a competitive advantage. In order to achieve their own goals and successfully form their companies’ public profile, CMOs have to be distinctive leaders and assume the voice of the client across the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a strong background in information technology may hold the job title chief marketing technologist (CMT). In some larger organizations, nevertheless, those 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 developing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position within the organization, she or he oversees these functions throughout all firm product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position in the marketplace, using traditional methods, as well as newer technologies corresponding to data analytics;
determine how and the place the corporate 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 results, 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 closely (or in some organizations even lead) the sales unit.
Wage and pay structure
In line with PayScale, total compensation for a U.S.-primarily based 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 scale of the organization.
PayScale puts the median compensation for a CMO in the United States at $one hundred seventy,000.
CMOs make that cash by way of an annual salary, 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. Those include:
overseeing the development and placement of the artistic elements 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 company’s public relations efforts, or working in conjunction with internal and exterior public relations teams to create a coordinated message.
Why the CMO position 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 succeed in customers and understand their ideas on products, companies and brands.
Additionally 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.
On the identical time, CMOs and their groups are able to faucet these technologies to succeed in and influence clients, position their products and problem competitors at the same speed and scale because the customers.
As it has been with other C-suite executives in this new technology-pushed enterprise paradigm, the CMO must collaborate much more extensively with his or her executive friends so as to keep pace. CMOs also have to be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may 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 often wantred, if not additionally required). They typically have at least a decade of experience in marketing and/or advertising and multiple years of experience in a managerial role.
They’re anticipated to have sturdy leadership skills, experience in project development, excellent communication skills and a high level of enterprise acumen.
In addition, the CMO position right now requires a high level of technical aptitude to maximise the tools and leverage the social media platforms which can be essential to marketing efforts.
As an example, CMOs are anticipated to oversee the corporate’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by consumer-generated media and the way that insight can drive sales.
They’re also expected to direct marketing campaigns and customer outreach via current — and rising — social media sites, as well as by traditional channels.
To that finish, CMOs must be highly inquisitive and modern, able to determine emerging applied sciences that could disrupt their business or business and likewise then able to reply to that by directing his or her C-suite colleagues on how you can reposition the corporate in light of that change.