What Is A Chief Marketing Officer
A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in a company that must do with creating, communicating and delivering offerings which have worth for patrons, shoppers or enterprise partners.
A CMO's primary mission is to facilitate progress and increase sales by developing a comprehensive marketing plan that will promote brand recognition and assist the group achieve a competitive advantage. With a view to achieve their own goals and effectively shape their corporations' public profile, CMOs should 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 both enterprise and marketing. A CMO who has a powerful background in information technology may also hold the job title chief marketing technologist (CMT). In some bigger organizations, nonetheless, these positions are separate and the CMT reports to the CMO.
Chief marketing officer job description
More specifically, the CMO is the executive answerable for creating the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position within the organization, he or she oversees these features across all firm product lines and geographies.
It is the CMO's job to:
understand the company's position within the marketplace, utilizing traditional strategies, as well as newer applied sciences reminiscent of data analytics;
decide how and where the company needs to 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 brand 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 keeping with PayScale, total compensation for a U.S.-based 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 dimensions of the organization.
PayScale puts the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money through an annual wage, individual bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to assist its overall mission. These embrace:
overseeing the development and placement of the creative parts that position the corporate 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 exterior public relations groups to create a coordinated message.
Why the CMO function 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 clients and understand their ideas on products, services and brands.
In addition they have given a new, a lot more prominent voice to consumers who can instantaneously broadforged their opinions to doubtlessly hundreds, if not millions, of people.
On the similar time, CMOs and their teams are able to faucet these technologies to succeed in and affect clients, position their products and challenge competitors at the identical speed and scale as the customers.
As it has been with different C-suite executives in this new technology-driven business paradigm, the CMO should collaborate a lot more extensively with his or her executive friends to be able to keep pace. CMOs also should be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.
Qualifications
CMOs, who may also have the title of vice president of sales and marketing, generally have at least a bachelor's degree in marketing (though an MBA is often desirered, if not additionally required). They typically have a minimum of a decade of expertise in marketing and/or advertising and a number of years of experience in a managerial role.
They're anticipated to have sturdy leadership skills, expertise in project development, glorious communication skills and a high level of enterprise acumen.
In addition, the CMO function as we speak requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which can be essential to marketing efforts.
For instance, CMOs are anticipated to oversee the company's use of analytics platforms to understand customer preferences, priorities and patterns particularly via person-generated media and the way that perception can drive sales.
They're also anticipated to direct marketing campaigns and customer outreach through current -- and emerging -- social media sites, as well as via traditional channels.
To that end, CMOs should be highly inquisitive and progressive, able to determine rising applied sciences that could disrupt their business or business and also then able to respond to that by directing his or her C-suite colleagues on how you can reposition the company in light of that change.
