A CMO (chief marketing officer) is a C-level corporate executive accountable for activities in an organization that should do with creating, speaking and delivering choices which have value for customers, shoppers or business partners.
A CMO’s main mission is to facilitate development and improve sales by creating a complete marketing plan that will promote brand recognition and help the organization achieve a competitive advantage. With the intention to achieve their own goals and effectively shape their corporations’ 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 powerful background in information technology can also hold the job title chief marketing technologist (CMT). In some bigger 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 accountable for creating the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position within the organization, he or she oversees these features 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 company should 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 results, with marketing efforts elevating the model awareness, recognition and loyalty that will finally lead to increased sales.
As such, the CMO is predicted to work carefully (or in some organizations even lead) the sales unit.
Wage and pay construction
In accordance with PayScale, total compensation for a U.S.-based CMO ranges from nearly $eighty five,000 to about $315,000.
The CMO’s experience level and the geographic location of the position affect the pay, as does the dimensions of the organization.
PayScale places the median compensation for a CMO in the United States at $one hundred seventy,000.
CMOs make that cash by way of an annual wage, individual 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. These embrace:
overseeing the development and placement of the inventive parts 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 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 reach clients and understand their thoughts on products, companies and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadcast their opinions to probably thousands, if not millions, of people.
On the similar time, CMOs and their groups are able to faucet those applied sciences to succeed in and affect prospects, position their products and challenge competitors on the same speed and scale as the customers.
As it has been with other C-suite executives in this new technology-driven business paradigm, the CMO should collaborate a lot more extensively with his or her executive friends so as to keep pace. CMOs also should be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may also have the title of vice president of sales and marketing, generally have at least a bachelor’s degree in marketing (although an MBA is commonly favorred, if not additionally required). They typically have at the least a decade of expertise in marketing and/or advertising and multiple years of expertise 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 position today requires a high level of technical aptitude to maximise the instruments and leverage the social media platforms which can be essential to marketing efforts.
For example, CMOs are anticipated to oversee the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by way of user-generated media and how that insight can drive sales.
They’re also expected to direct marketing campaigns and customer outreach through existing — and emerging — social media sites, as well as by means of traditional channels.
To that end, CMOs should be highly inquisitive and revolutionary, able to establish emerging applied sciences that could disrupt their enterprise or business and likewise then able to respond to that by directing his or her C-suite colleagues on how one can reposition the corporate in light of that change.