A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in a company that need to do with creating, speaking and delivering choices that have value for customers, purchasers or enterprise partners.
A CMO’s primary mission is to facilitate growth and increase sales by creating a complete marketing plan that will promote model recognition and help the group gain a competitive advantage. In order to achieve their own goals and effectively form their companies’ public profile, CMOs have to be exceptional leaders and assume the voice of the client throughout 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 powerful background in information technology might also 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 control of growing the strategy for corporate advertising and branding, as well as customer outreach. As the senior most marketing position in the organization, he or she oversees these features throughout all company product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position within the marketplace, using traditional strategies, as well as newer technologies akin to 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 expected to produce top-line results, with marketing efforts elevating the model awareness, recognition and loyalty that will ultimately lead to increased sales.
As such, the CMO is predicted to work intently (or in some organizations even lead) the sales unit.
Wage and pay construction
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 size of the organization.
PayScale puts the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money 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 assist its overall mission. Those embody:
overseeing the development and placement of the inventive components that position the corporate 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 inner and exterior public relations teams to create a coordinated message.
Why the CMO function 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 reach clients and understand their thoughts on products, companies and brands.
They also have given a new, a lot more prominent voice to consumers who can instantaneously broadforged their opinions to doubtlessly hundreds, if not millions, of people.
On the identical time, CMOs and their groups are able to tap these technologies to succeed in and affect prospects, position their products and problem competitors at the identical speed and scale as the customers.
As it has been with different C-suite executives in this new technology-driven business paradigm, the CMO must collaborate much more extensively with his or her executive peers with the intention 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, typically have not less than a bachelor’s degree in marketing (although an MBA is usually desirered, if not additionally required). They often have a minimum of a decade of expertise 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 business 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 which might be essential to marketing efforts.
As an example, CMOs are anticipated to oversee the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly via person-generated media and the way that insight can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach through existing — and rising — social media sites, as well as by way of traditional channels.
To that finish, CMOs have to be highly inquisitive and innovative, able to establish emerging technologies that would disrupt their business or trade and likewise then able to reply to that by directing his or her C-suite colleagues on the right way to reposition the company in light of that change.