A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in an organization that need to do with creating, speaking and delivering choices that have value for purchasers, shoppers or business partners.
A CMO’s major mission is to facilitate development and increase sales by developing a complete marketing plan that will promote model recognition and help the organization acquire a competitive advantage. With a purpose to achieve their own goals and effectively form their corporations’ public profile, CMOs must be exceptional leaders and assume the voice of the shopper across the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in both enterprise and marketing. A CMO who has a powerful background in information technology can also hold the job title chief marketing technologist (CMT). In some larger organizations, nonetheless, those positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive answerable for growing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position in the organization, he or she oversees these features across all company product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position in the marketplace, using traditional strategies, as well as newer applied sciences comparable to data analytics;
decide how and where the company ought to be positioned in the future;
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 raising the model awareness, recognition and loyalty that will ultimately lead to elevated sales.
As such, the CMO is anticipated to work intently (or in some organizations even lead) the sales unit.
Salary and pay construction
In keeping with PayScale, total compensation for a U.S.-based CMO ranges from nearly $85,000 to about $315,000.
The CMO’s experience 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 in the United States at $170,000.
CMOs make that cash 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 help its total mission. Those include:
overseeing the development and placement of the creative 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 inner 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 importance 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 1000’s, if not millions, of people.
On the similar time, CMOs and their groups are able to faucet those technologies to reach and influence customers, position their products and problem competitors at the identical speed and scale because the customers.
As it has been with other C-suite executives in this new technology-pushed enterprise paradigm, the CMO should collaborate much more extensively with his or her executive peers with a purpose to keep pace. CMOs also have to be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who might also have the title of vice president of sales and marketing, typically have a minimum of a bachelor’s degree in marketing (though an MBA is often favorred, if not additionally required). They generally have at least a decade of expertise in marketing and/or advertising and multiple years of experience in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, glorious communication skills and a high level of enterprise acumen.
In addition, the CMO role at present requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms that are essential to marketing efforts.
As an example, CMOs are anticipated to supervise the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by user-generated media and how that insight can drive sales.
They’re also anticipated to direct marketing campaigns and buyer outreach by way of present — and emerging — social media sites, as well as by means of traditional channels.
To that finish, CMOs must be highly inquisitive and revolutionary, able to determine rising technologies that could disrupt their enterprise or trade and also then able to answer that by directing his or her C-suite colleagues on the best way to reposition the company in light of that change.