A CMO (chief marketing officer) is a C-level corporate executive responsible for activities in a corporation that need to do with creating, communicating and delivering offerings that have value for customers, clients or business partners.
A CMO’s major mission is to facilitate progress and improve sales by growing a comprehensive marketing plan that will promote brand recognition and assist the group gain a competitive advantage. As a way to achieve their own goals and successfully shape their companies’ public profile, CMOs have to be exceptional leaders and assume the voice of the customer across 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 robust background in information technology may additionally hold the job title chief marketing technologist (CMT). In some larger organizations, nevertheless, those 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 creating 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 features across all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, utilizing traditional methods, as well as newer applied sciences resembling data analytics;
determine how and the place the company must be positioned in the future;
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 brand awareness, recognition and loyalty that will finally lead to increased sales.
As such, the CMO is predicted to work carefully (or in some organizations even lead) the sales unit.
Wage and pay structure
In keeping with PayScale, total compensation for a U.S.-based mostly CMO ranges from practically $85,000 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 $a hundred and seventy,000.
CMOs make that money through an annual wage, particular person bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to support its overall mission. Those embrace:
overseeing the development and placement of the inventive elements that position the company 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 company’s public relations efforts, or working in conjunction with inner and external public relations groups to create a coordinated message.
Why the CMO position 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.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadsolid their opinions to probably thousands, if not millions, of people.
On the same time, CMOs and their teams are able to tap those technologies to achieve and influence prospects, position their products and challenge competitors on the similar speed and scale as the customers.
As it has been with other C-suite executives in this new technology-pushed enterprise paradigm, the CMO should collaborate much more extensively with his or her executive peers with a purpose to keep pace. CMOs also have to 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 very least a bachelor’s degree in marketing (although an MBA is often favorred, if not additionally required). They typically have at least a decade of expertise in marketing and/or advertising and a number of years of experience in a managerial role.
They’re expected to have sturdy leadership skills, expertise in project development, wonderful communication skills and a high level of enterprise 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 which might be essential to marketing efforts.
As an example, CMOs are anticipated to oversee the company’s use of analytics platforms to understand customer preferences, priorities and patterns particularly through consumer-generated media and the way that insight can drive sales.
They’re additionally anticipated to direct marketing campaigns and buyer outreach via current — and rising — social media sites, as well as by way of traditional channels.
To that end, CMOs must be highly inquisitive and innovative, able to establish rising technologies that could disrupt their business or industry and likewise then able to answer that by directing his or her C-suite colleagues on the right way to reposition the company in light of that change.