A CMO (chief marketing officer) is a C-level corporate executive responsible for activities in a corporation that need to do with creating, communicating and delivering offerings that have value for patrons, clients or enterprise partners.
A CMO’s main mission is to facilitate growth and increase sales by growing a complete marketing plan that will promote brand recognition and assist the organization acquire a competitive advantage. In an effort to achieve their own goals and effectively shape their companies’ public profile, CMOs must 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 each enterprise and marketing. A CMO who has a robust background in information technology may also hold the job title chief marketing technologist (CMT). In some bigger organizations, nevertheless, 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 creating the strategy for corporate advertising and branding, as well as buyer outreach. Because the senior most marketing position in the organization, she or he oversees these features throughout all company product lines and geographies.
It’s the CMO’s job to:
understand the corporate’s position within the marketplace, utilizing traditional strategies, as well as newer technologies such as data analytics;
decide how and the place the corporate 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 model awareness, recognition and loyalty that will finally lead to elevated sales.
As such, the CMO is expected to work carefully (or in some organizations even lead) the sales unit.
Salary and pay construction
Based on 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 money by way of an annual wage, 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 overall mission. These embrace:
overseeing the development and placement of the inventive parts that position the company within 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 corporate’s public relations efforts, or working in conjunction with inside and external public relations groups to create a coordinated message.
Why the CMO position has gained prominence
The technology advancements of the 21st 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 achieve prospects and understand their thoughts on products, services and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to probably 1000’s, if not millions, of people.
At the same time, CMOs and their groups are able to faucet these applied sciences to succeed in and influence customers, position their products and challenge competitors at the similar 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 as a way to keep pace. CMOs also must be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may also have the title of vice president of sales and marketing, typically have at the least a bachelor’s degree in marketing (though an MBA is often desirered, if not additionally required). They typically have not less than a decade of experience in marketing and/or advertising and multiple years of expertise in a managerial role.
They’re expected to have sturdy leadership skills, experience 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 that are essential to marketing efforts.
For example, CMOs are anticipated to oversee the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly through person-generated media and how that perception can drive sales.
They’re also anticipated to direct marketing campaigns and buyer outreach through present — and emerging — social media sites, as well as via traditional channels.
To that finish, CMOs should be highly inquisitive and innovative, able to identify rising applied sciences that would disrupt their enterprise or business and likewise then able to respond to that by directing his or her C-suite colleagues on tips on how to reposition the company in light of that change.