A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in a corporation that have to do with creating, communicating and delivering choices that have worth for customers, shoppers or business partners.
A CMO’s primary mission is to facilitate growth and increase sales by developing a comprehensive marketing plan that will promote brand recognition and assist the group acquire a competitive advantage. As a way to achieve their own goals and effectively shape their corporations’ public profile, CMOs have to be distinctive leaders and assume the voice of the client throughout the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a strong background in information technology may additionally hold the job title chief marketing technologist (CMT). In some bigger 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 within the group, he or she oversees these functions across all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, utilizing traditional strategies, as well as newer applied sciences resembling data analytics;
decide how and the place the corporate 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 predicted to produce top-line results, with marketing efforts elevating the brand awareness, recognition and loyalty that will finally lead to elevated sales.
As such, the CMO is anticipated to work intently (or in some organizations even lead) the sales unit.
Wage and pay construction
According to PayScale, total compensation for a U.S.-primarily based 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 scale of the organization.
PayScale places the median compensation for a CMO in the United States at $one hundred seventy,000.
CMOs make that money via an annual salary, individual bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to support its general mission. These embrace:
overseeing the development and placement of the inventive components 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 corporate’s public relations efforts, or working in conjunction with internal and external public relations groups to create a coordinated message.
Why the CMO role 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 customers and understand their ideas on products, services and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to doubtlessly thousands, if not millions, of people.
On the identical time, CMOs and their groups are able to tap those applied sciences to succeed in 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 business paradigm, the CMO must collaborate much more extensively with his or her executive friends with a view to keep pace. CMOs additionally should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who can also have the title of vice president of sales and marketing, usually have at the very least a bachelor’s degree in marketing (although an MBA is commonly wantred, if not additionally required). They generally have no less than a decade of expertise in marketing and/or advertising and a number of years of expertise in a managerial role.
They’re expected to have robust leadership skills, expertise in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO role as we speak requires a high level of technical aptitude to maximize the tools and leverage the social media platforms that are essential to marketing efforts.
For instance, CMOs are anticipated to supervise the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by means of person-generated media and the way that insight can drive sales.
They’re additionally anticipated to direct marketing campaigns and customer outreach by way of existing — and emerging — social media sites, as well as by way of traditional channels.
To that finish, CMOs have to be highly inquisitive and modern, able to identify emerging technologies that could disrupt their business or trade and likewise then able to answer that by directing his or her C-suite colleagues on the best way to reposition the company in light of that change.