A CMO (chief marketing officer) is a C-level corporate executive responsible for activities in a corporation that must do with creating, communicating and delivering choices which have worth for customers, clients or business partners.
A CMO’s main mission is to facilitate growth and enhance sales by developing 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 successfully shape their corporations’ public profile, CMOs have to be exceptional leaders and assume the voice of the customer across the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in each enterprise and marketing. A CMO who has a robust background in information technology can also hold the job title chief marketing technologist (CMT). In some bigger 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 charge of growing the strategy for corporate advertising and branding, as well as customer outreach. As the senior most marketing position in the organization, she or he oversees these features throughout all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, using traditional methods, as well as newer technologies comparable to data analytics;
determine how and where the company should 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 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 intently (or in some organizations even lead) the sales unit.
Wage and pay construction
In keeping with PayScale, total compensation for a U.S.-based mostly 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 dimensions of the organization.
PayScale places the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money through 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 support its overall mission. These include:
overseeing the development and placement of the creative components that position the company in the marketplace;
researching and assessing the market and the corporate’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 function has gained prominence
The technology advancements of the 21st 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 achieve prospects and understand their ideas on products, services and brands.
In addition they have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to probably hundreds, if not millions, of people.
At the identical time, CMOs and their teams are able to faucet these technologies to reach and affect prospects, position their products and challenge competitors on 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 should collaborate a lot more extensively with his or her executive peers to be able to keep pace. CMOs also must be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who might also 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 usually desirered, if not additionally required). They generally have at the least a decade of experience in marketing and/or advertising and a number of years of experience in a managerial role.
They’re anticipated to have robust leadership skills, expertise in project development, glorious communication skills and a high level of business acumen.
In addition, the CMO role at present requires a high level of technical aptitude to maximise the tools and leverage the social media platforms which 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 by person-generated media and how that perception can drive sales.
They’re also expected to direct marketing campaigns and customer outreach through current — and rising — social media sites, as well as by means of traditional channels.
To that end, CMOs have to be highly inquisitive and modern, able to identify rising applied sciences that could disrupt their business or industry and in addition then able to answer that by directing his or her C-suite colleagues on learn how to reposition the company in light of that change.