A CMO (chief marketing officer) is a C-level corporate executive responsible for activities in an organization that must do with creating, speaking and delivering offerings which have worth for customers, purchasers or enterprise partners.
A CMO’s main mission is to facilitate development and enhance sales by growing a comprehensive 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 must be exceptional 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 both business and marketing. A CMO who has a strong background in information technology may 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 growing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position in the organization, she or he oversees these functions across all firm product lines and geographies.
It’s the CMO’s job to:
understand the company’s position within the marketplace, using traditional methods, as well as newer technologies equivalent to data analytics;
decide how and the place the corporate should be positioned in the future;
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 results, with marketing efforts raising the model awareness, recognition and loyalty that will ultimately lead to elevated sales.
As such, the CMO is expected to work intently (or in some organizations even lead) the sales unit.
Wage and pay structure
In accordance with PayScale, total compensation for a U.S.-based CMO ranges from practically $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 puts the median compensation for a CMO within the United States at $a hundred and seventy,000.
CMOs make that money by 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 overall mission. These include:
overseeing the development and placement of the artistic components that position the corporate in 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 internal and external public relations teams to create a coordinated message.
Why the CMO role has gained prominence
The technology advancements of the 21st 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 reach clients and understand their ideas on products, companies and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadsolid their opinions to potentially hundreds, if not millions, of people.
On the same time, CMOs and their teams are able to tap those applied sciences to succeed in and affect clients, position their products and problem competitors at the same speed and scale because the customers.
As it has been with other C-suite executives in this new technology-pushed business paradigm, the CMO must collaborate a lot more extensively with his or her executive friends with the intention to keep pace. CMOs additionally should be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may 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 often wantred, if not also required). They often have at the least a decade of expertise in marketing and/or advertising and a number of years of expertise in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, excellent communication skills and a high level of business acumen.
In addition, the CMO function at present requires a high level of technical aptitude to maximise the instruments and leverage the social media platforms which can be essential to marketing efforts.
For example, CMOs are expected to supervise the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by consumer-generated media and how that perception can drive sales.
They’re additionally expected to direct marketing campaigns and buyer outreach by way of existing — and emerging — social media sites, as well as through traditional channels.
To that finish, CMOs must be highly inquisitive and progressive, able to determine emerging applied sciences that might disrupt their business or business and likewise then able to respond to that by directing his or her C-suite colleagues on learn how to reposition the corporate in light of that change.