A CMO (chief marketing officer) is a C-level corporate executive accountable for activities in a corporation that have to do with creating, communicating and delivering choices which have worth for purchasers, clients or enterprise partners.
A CMO’s main mission is to facilitate progress and enhance sales by developing a complete marketing plan that will promote brand recognition and help the group achieve a competitive advantage. With a purpose to achieve their own goals and successfully shape their firms’ public profile, CMOs must be distinctive leaders and assume the voice of the client across the company.
Chief marketing officers typically report to the CEO or chief working officer (COO) and hold advanced degrees in each enterprise and marketing. A CMO who has a strong background in information technology may also 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 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, he or she oversees these capabilities throughout all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position in the marketplace, using traditional strategies, as well as newer technologies equivalent to data analytics;
determine how and the place the company ought to 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 predicted to produce top-line outcomes, with marketing efforts elevating the brand awareness, recognition and loyalty that will finally lead to increased sales.
As such, the CMO is predicted to work intently (or in some organizations even lead) the sales unit.
Salary and pay structure
In response to PayScale, total compensation for a U.S.-based mostly CMO ranges from practically $eighty five,000 to about $315,000.
The CMO’s experience level and the geographic location of the position affect the pay, as does the size of the organization.
PayScale puts the median compensation for a CMO within the United States at $a hundred and seventy,000.
CMOs make that cash by means 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. Those embrace:
overseeing the development and placement of the inventive components 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 company’s public relations efforts, or working in conjunction with internal 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 importance 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 prospects and understand their thoughts on products, companies and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadforged their opinions to doubtlessly thousands, if not millions, of people.
At the identical time, CMOs and their teams are able to faucet those technologies to reach and influence customers, 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-driven enterprise paradigm, the CMO should collaborate much more extensively with his or her executive friends in an effort to keep pace. CMOs additionally should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
CMOs, who may have the title of vice president of sales and marketing, usually have a minimum of a bachelor’s degree in marketing (although an MBA is usually wantred, if not also required). They generally have no less than 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, wonderful communication skills and a high level of enterprise acumen.
In addition, the CMO function right this moment requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which are essential to marketing efforts.
As an illustration, CMOs are expected to supervise the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by way of person-generated media and how that insight can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach through current — and rising — social media sites, as well as by means of traditional channels.
To that finish, CMOs must be highly inquisitive and progressive, able to establish emerging applied sciences that might disrupt their business or business and in addition then able to answer that by directing his or her C-suite colleagues on tips on how to reposition the company in light of that change.