A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in an organization that must do with creating, communicating and delivering offerings that have value for purchasers, shoppers or enterprise partners.
A CMO’s main mission is to facilitate progress and enhance sales by developing a comprehensive marketing plan that will promote brand recognition and assist the group achieve a competitive advantage. As a way to achieve their own goals and effectively form their corporations’ public profile, CMOs have to be distinctive leaders and assume the voice of the customer across 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 might also hold the job title chief marketing technologist (CMT). In some larger organizations, nonetheless, these positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive in control of growing 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 capabilities throughout all firm product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position in the marketplace, utilizing traditional strategies, as well as newer technologies reminiscent of data analytics;
decide how and where the company ought to 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 anticipated to produce top-line results, with marketing efforts raising the brand awareness, recognition and loyalty that will ultimately lead to elevated sales.
As such, the CMO is expected to work closely (or in some organizations even lead) the sales unit.
Salary and pay construction
According to PayScale, total compensation for a U.S.-based mostly CMO ranges from almost $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 puts the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money 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 general mission. Those embody:
overseeing the development and placement of the creative components 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 company’s public relations efforts, or working in conjunction with inner 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 customers and understand their thoughts on products, services and brands.
They also have given a new, a lot more prominent voice to consumers who can instantaneously broadforged their opinions to probably hundreds, if not millions, of people.
On the identical time, CMOs and their groups are able to tap these applied sciences to reach and affect prospects, position their products and problem competitors on the similar speed and scale as the customers.
As it has been with different C-suite executives in this new technology-driven enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive friends with the intention to keep pace. CMOs additionally should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may additionally have the title of vice president of sales and marketing, usually have at the very least a bachelor’s degree in marketing (though an MBA is usually wantred, if not also required). They often have at least a decade of expertise 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, glorious communication skills and a high level of business acumen.
In addition, the CMO function today requires a high level of technical aptitude to maximise the tools and leverage the social media platforms which can be essential to marketing efforts.
For instance, CMOs are anticipated to oversee the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by way of person-generated media and the way 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 by means of traditional channels.
To that finish, CMOs should be highly inquisitive and innovative, able to identify rising technologies that would disrupt their enterprise or business and likewise then able to answer that by directing his or her C-suite colleagues on methods to reposition the corporate in light of that change.