A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in a company that have to do with creating, speaking and delivering offerings which have value for purchasers, shoppers or enterprise partners.
A CMO's main mission is to facilitate development and improve sales by growing a comprehensive marketing plan that will promote model recognition and help the organization achieve a competitive advantage. To be able to achieve their own goals and successfully form their corporations' public profile, CMOs have to 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 can also hold the job title chief marketing technologist (CMT). In some bigger 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 developing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position in the organization, he or she oversees these features throughout all firm product lines and geographies.
It is the CMO's job to:
understand the corporate's position in the marketplace, using traditional methods, as well as newer technologies corresponding to data analytics;
decide how and where the company must be positioned sooner or later;
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 elevating the model awareness, recognition and loyalty that will in the end lead to elevated sales.
As such, the CMO is predicted to work intently (or in some organizations even lead) the sales unit.
Salary and pay construction
In keeping with PayScale, total compensation for a U.S.-based CMO ranges from almost $85,000 to about $315,000.
The CMO's expertise level and the geographic location of the position affect the pay, as does the dimensions of the organization.
PayScale places the median compensation for a CMO within the United States at $one hundred seventy,000.
CMOs make that money via 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 general mission. These embody:
overseeing the development and placement of the artistic 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 corporate's public relations efforts, or working in conjunction with internal and external 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 significance 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 succeed in clients and understand their thoughts on products, services and brands.
Additionally they have given a new, much more prominent voice to consumers who can instantaneously broadforged their opinions to probably thousands, if not millions, of people.
On the similar time, CMOs and their groups are able to faucet those applied sciences to reach and affect prospects, position their products and challenge competitors on the same 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 a lot more extensively with his or her executive peers in an effort to keep pace. CMOs also must be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
Qualifications
CMOs, who may additionally have the title of vice president of sales and marketing, generally have a minimum of a bachelor's degree in marketing (although an MBA is usually choosered, if not also required). They typically have at the least a decade of experience in marketing and/or advertising and a number of years of expertise in a managerial role.
They're expected to have sturdy leadership skills, experience in project development, wonderful communication skills and a high level of business acumen.
In addition, the CMO role right this moment 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 illustration, CMOs are anticipated to oversee the company's use of analytics platforms to understand customer preferences, priorities and patterns particularly through user-generated media and how that perception can drive sales.
They're additionally expected to direct marketing campaigns and customer outreach via existing -- and emerging -- social media sites, as well as through traditional channels.
To that end, CMOs must be highly inquisitive and progressive, able to establish emerging applied sciences that might disrupt their enterprise or business 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.