What is CMO (chief marketing officer)?
A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in an organization that have to do with creating, communicating and delivering choices that have worth for patrons, purchasers or enterprise partners.
A CMO’s primary mission is to facilitate growth and increase sales by growing a complete marketing plan that will promote brand recognition and help the organization achieve a competitive advantage. With a purpose to achieve their own goals and effectively form their companies’ public profile, CMOs should be exceptional leaders and assume the voice of the shopper throughout the company.
Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in both enterprise and marketing. A CMO who has a robust background in information technology might also hold the job title chief marketing technologist (CMT). In some bigger 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 buyer outreach. Because the senior most marketing position in the group, he or she oversees these functions across all company product lines and geographies.
It’s the CMO’s job to:
understand the corporate’s position in the marketplace, utilizing traditional strategies, as well as newer applied sciences akin to data analytics;
determine how and the place the company ought to be positioned in the future;
develop the strategy to drive the organization to that future market position; and
execute on that strategy.
The CMO’s work is anticipated to produce top-line outcomes, with marketing efforts elevating the brand awareness, recognition and loyalty that will finally lead to elevated sales.
As such, the CMO is expected to work carefully (or in some organizations even lead) the sales unit.
Wage and pay structure
In keeping with PayScale, total compensation for a U.S.-primarily 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 places the median compensation for a CMO in the United States at $a hundred and seventy,000.
CMOs make that money through an annual salary, individual bonuses, profit sharing and commission.
Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to assist its total mission. These embrace:
overseeing the development and placement of the creative 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 company’s public relations efforts, or working in conjunction with internal and external public relations groups to create a coordinated message.
Why the CMO function has gained prominence
The technology advancements of the twenty first 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 reach prospects and understand their thoughts on products, services and brands.
They also 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.
On the same time, CMOs and their groups are able to tap those applied sciences 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 other C-suite executives in this new technology-driven enterprise paradigm, the CMO should collaborate a lot more extensively with his or her executive peers with the intention to keep pace. CMOs additionally have to be capable of adaptation and innovation, as technologies evolve and markets shift in response.
Qualifications
CMOs, who may additionally have the title of vice president of sales and marketing, generally have not less than a bachelor’s degree in marketing (although an MBA is commonly favorred, if not additionally required). They generally have no less than 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 business acumen.
In addition, the CMO position at the moment 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 instance, CMOs are anticipated to oversee the company’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by means of person-generated media and the way that perception can drive sales.
They’re additionally expected to direct marketing campaigns and customer outreach through existing — and rising — social media sites, as well as via traditional channels.
To that end, CMOs should be highly inquisitive and revolutionary, able to identify rising technologies that would disrupt their enterprise or industry and likewise then able to reply to that by directing his or her C-suite colleagues on the way to reposition the corporate in light of that change.
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