A CMO (chief marketing officer) is a C-level corporate executive liable for activities in a corporation that need to do with creating, communicating and delivering offerings that have value for purchasers, clients or enterprise partners.
A CMO’s primary mission is to facilitate progress and improve sales by growing 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 form their companies’ public profile, CMOs should 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 powerful background in information technology can 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 customer outreach. Because the senior most marketing position within the organization, she or he oversees these functions throughout all firm product lines and geographies.
It is the CMO’s job to:
understand the company’s position in the marketplace, utilizing traditional strategies, as well as newer applied sciences such as data analytics;
decide how and the place the corporate should 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 expected to produce top-line outcomes, with marketing efforts raising the model awareness, recognition and loyalty that will finally lead to elevated sales.
As such, the CMO is anticipated to work closely (or in some organizations even lead) the sales unit.
Wage and pay construction
According to PayScale, total compensation for a U.S.-based CMO ranges from almost $eighty five,000 to about $315,000.
The CMO’s expertise level and the geographic location of the position influence the pay, as does the size of the organization.
PayScale places the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money by 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 support its general mission. Those include:
overseeing the development and placement of the artistic parts 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 inner and exterior 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 significance 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, companies and brands.
They also have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to doubtlessly 1000’s, if not millions, of people.
At the identical time, CMOs and their groups are able to tap those 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 other C-suite executives in this new technology-pushed business paradigm, the CMO must collaborate much more extensively with his or her executive friends with the intention to keep pace. CMOs additionally must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may additionally have the title of vice president of sales and marketing, usually have no less than a bachelor’s degree in marketing (though an MBA is commonly choosered, if not additionally required). They typically 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 robust leadership skills, experience in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO role at present requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which can be essential to marketing efforts.
As an illustration, CMOs are expected to oversee the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly through user-generated media and how that insight can drive sales.
They’re additionally anticipated to direct marketing campaigns and buyer outreach by way of existing — and rising — social media sites, as well as by traditional channels.
To that end, CMOs must be highly inquisitive and innovative, able to identify rising technologies 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 corporate in light of that change.