A CMO (chief marketing officer) is a C-level corporate executive liable for activities in an organization that must do with creating, speaking and delivering offerings that have value for purchasers, clients or enterprise partners.
A CMO’s main mission is to facilitate progress and improve sales by growing a comprehensive marketing plan that will promote brand recognition and help the organization gain a competitive advantage. With the intention to achieve their own goals and effectively form their companies’ public profile, CMOs must be exceptional leaders and assume the voice of the shopper throughout 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 strong background in information technology can 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 answerable for growing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position in the group, she or he oversees these functions across all company 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 needs to be positioned sooner or later;
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 increased sales.
As such, the CMO is predicted to work closely (or in some organizations even lead) the sales unit.
Salary and pay structure
According to PayScale, total compensation for a U.S.-primarily based CMO ranges from practically $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 size of the organization.
PayScale puts the median compensation for a CMO within the United States at $a hundred and seventy,000.
CMOs make that money by 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 assist its general mission. These embody:
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 inside and external public relations teams 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 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 achieve clients and understand their ideas on products, providers and brands.
They also have given a new, much 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 these technologies to succeed in and affect prospects, position their products and problem competitors at the same speed and scale as the customers.
As it has been with different C-suite executives in this new technology-pushed enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive friends so as to keep pace. CMOs also have to 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, typically have not less than a bachelor’s degree in marketing (though an MBA is usually choosered, 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 strong leadership skills, experience in project development, glorious communication skills and a high level of enterprise acumen.
In addition, the CMO role in the present day requires a high level of technical aptitude to maximise the instruments and leverage the social media platforms which are essential to marketing efforts.
For instance, CMOs are expected to oversee the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by way of consumer-generated media and how that insight can drive sales.
They’re also expected to direct marketing campaigns and customer outreach by way of existing — and rising — social media sites, as well as via traditional channels.
To that end, CMOs should be highly inquisitive and revolutionary, able to identify emerging technologies that might disrupt their enterprise or trade and in addition then able to reply to that by directing his or her C-suite colleagues on the right way to reposition the corporate in light of that change.