A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in a corporation that have to do with creating, speaking and delivering offerings which have value for patrons, purchasers or business partners.
A CMO’s primary mission is to facilitate growth and enhance sales by developing a comprehensive marketing plan that will promote model recognition and help the group achieve a competitive advantage. To be able to achieve their own goals and effectively shape their companies’ public profile, CMOs have to be exceptional leaders and assume the voice of the customer 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 robust background in information technology may also hold the job title chief marketing technologist (CMT). In some larger organizations, however, these 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 growing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position within the organization, she or he 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 applied sciences corresponding to data analytics;
determine how and the place 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 anticipated to produce top-line outcomes, with marketing efforts raising the model awareness, recognition and loyalty that will ultimately lead to increased sales.
As such, the CMO is predicted to work closely (or in some organizations even lead) the sales unit.
Wage and pay construction
Based on PayScale, total compensation for a U.S.-based mostly CMO ranges from almost $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 dimensions 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 wage, individual 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. These include:
overseeing the development and placement of the artistic parts that position the company 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 external public relations groups to create a coordinated message.
Why the CMO role has gained prominence
The technology advancements of the twenty first century have elevated the importance 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 reach clients and understand their thoughts on products, services and brands.
Additionally they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to potentially hundreds, if not millions, of people.
At the similar time, CMOs and their teams are able to tap these applied sciences to achieve and affect clients, 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-driven enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive peers with a view to keep pace. CMOs additionally have to be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may have the title of vice president of sales and marketing, typically have a minimum of a bachelor’s degree in marketing (although an MBA is often preferred, if not also required). They typically have at least a decade of experience in marketing and/or advertising and a number of years of expertise in a managerial role.
They’re expected to have robust leadership skills, experience in project development, wonderful communication skills and a high level of business acumen.
In addition, the CMO position at this time requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which can be essential to marketing efforts.
For example, CMOs are expected to supervise the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by person-generated media and the way that perception can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach through existing — and emerging — social media sites, as well as by means of traditional channels.
To that finish, CMOs should be highly inquisitive and progressive, able to identify rising technologies that could disrupt their business or industry and likewise then able to answer that by directing his or her C-suite colleagues on learn how to reposition the corporate in light of that change.