What’s a Chief Marketing Officer?

A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in an organization that should do with creating, communicating and delivering choices which have worth for patrons, shoppers or enterprise partners.

A CMO’s primary mission is to facilitate progress and improve sales by developing a complete marketing plan that will promote brand recognition and assist the organization achieve a competitive advantage. With the intention to achieve their own goals and effectively form their firms’ public profile, CMOs should 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 might also hold the job title chief marketing technologist (CMT). In some larger organizations, however, those positions are separate and the CMT reports to the CMO.

Chief marketing officer job description

More specifically, the CMO is the executive answerable for developing 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 is the CMO’s job to:

understand the company’s position in the marketplace, utilizing traditional strategies, as well as newer applied sciences akin to data analytics;

decide how and where 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 anticipated to produce top-line results, 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 closely (or in some organizations even lead) the sales unit.

Wage and pay construction

In response to PayScale, total compensation for a U.S.-based mostly CMO ranges from nearly $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 size of the organization.

PayScale puts the median compensation for a CMO within the United States at $one hundred seventy,000.

CMOs make that cash by way of an annual salary, 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 total mission. These include:

overseeing the development and placement of the inventive elements that position the corporate in 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 exterior public relations groups to create a coordinated message.

Why the CMO role has gained prominence

The technology advancements of the twenty first century have elevated the significance 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 reach customers and understand their ideas on products, services and brands.

Additionally they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to potentially 1000’s, if not millions, of people.

At the identical time, CMOs and their teams are able to tap those applied sciences to succeed in and influence clients, position their products and challenge competitors on the similar speed and scale as the customers.

As it has been with different C-suite executives in this new technology-pushed enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive peers with a view to keep pace. CMOs additionally must be capable of adaptation and innovation, as technologies evolve and markets shift in response.

Qualifications

CMOs, who can also have the title of vice president of sales and marketing, typically have not less than a bachelor’s degree in marketing (although an MBA is usually choosered, if not additionally required). They generally have not less than a decade of expertise in marketing and/or advertising and multiple years of experience in a managerial role.

They’re anticipated to have strong leadership skills, expertise in project development, glorious communication skills and a high level of business acumen.

In addition, the CMO function as we speak requires a high level of technical aptitude to maximise the tools and leverage the social media platforms which might be essential to marketing efforts.

For example, CMOs are anticipated to oversee the corporate’s use of analytics platforms to understand customer preferences, priorities and patterns particularly by consumer-generated media and the way that perception can drive sales.

They’re additionally expected to direct marketing campaigns and customer outreach via current — and rising — social media sites, as well as by means of traditional channels.

To that end, CMOs must be highly inquisitive and innovative, able to identify emerging applied sciences that would disrupt their business or industry and likewise then able to respond to that by directing his or her C-suite colleagues on methods to reposition the company in light of that change.

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