A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in an organization that have to do with creating, communicating and delivering offerings that have value for purchasers, shoppers 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. As a way to achieve their own goals and successfully form their corporations’ public profile, CMOs must be distinctive leaders and assume the voice of the shopper throughout the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in each business and marketing. A CMO who has a powerful background in information technology may additionally 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 accountable for creating the strategy for corporate advertising and branding, as well as customer outreach. As the senior most marketing position in the group, she or he oversees these capabilities throughout all company product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, using traditional methods, as well as newer applied sciences comparable to data analytics;
determine how and the place the company should be positioned sooner or later;
develop the strategy to drive the group 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 in the end lead to elevated sales.
As such, the CMO is anticipated to work carefully (or in some organizations even lead) the sales unit.
Wage and pay structure
In line with PayScale, total compensation for a U.S.-primarily based CMO ranges from nearly $85,000 to about $315,000.
The CMO’s expertise level and the geographic location of the position influence 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 cash 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. These embrace:
overseeing the development and placement of the artistic elements 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 inner and external public relations groups to create a coordinated message.
Why the CMO function has gained prominence
The technology advancements of the twenty first 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, companies and brands.
They also have given a new, a lot more prominent voice to consumers who can instantaneously broadsolid their opinions to probably thousands, if not millions, of people.
On the identical time, CMOs and their groups are able to tap those technologies to succeed in and influence clients, position their products and problem competitors on the identical speed and scale as 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 peers in an effort to keep pace. CMOs also must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may have the title of vice president of sales and marketing, generally have at the least a bachelor’s degree in marketing (though an MBA is often choosered, if not additionally required). They often have at the least a decade of expertise in marketing and/or advertising and multiple years of experience in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, excellent communication skills and a high level of enterprise acumen.
In addition, the CMO position at present requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which can be essential to marketing efforts.
For example, CMOs are anticipated to supervise the corporate’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly via consumer-generated media and how that insight can drive sales.
They’re additionally anticipated to direct marketing campaigns and buyer outreach by way of present — and emerging — social media sites, as well as by way of traditional channels.
To that end, CMOs must be highly inquisitive and modern, able to establish emerging technologies that would disrupt their enterprise or trade and also then able to answer that by directing his or her C-suite colleagues on the right way to reposition the corporate in light of that change.