What is CMO (chief marketing officer)?
A CMO (chief marketing officer) is a C-level corporate executive liable for activities in a corporation that should do with creating, communicating and delivering choices that have worth for purchasers, clients or business partners.
A CMO’s major mission is to facilitate growth and increase sales by developing a complete marketing plan that will promote brand recognition and help the group achieve a competitive advantage. With a view to achieve their own goals and effectively shape their firms’ public profile, CMOs must be exceptional 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 business and marketing. A CMO who has a robust background in information technology may also hold the job title chief marketing technologist (CMT). In some larger 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 control of developing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position in the organization, she or he oversees these functions across all company product lines and geographies.
It is the CMO’s job to:
understand the corporate’s position within the marketplace, utilizing traditional strategies, as well as newer technologies equivalent to data analytics;
decide how and the place the corporate 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 predicted to produce top-line outcomes, with marketing efforts raising the brand awareness, recognition and loyalty that will in the end lead to elevated sales.
As such, the CMO is predicted to work carefully (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 nearly $85,000 to about $315,000.
The CMO’s experience level and the geographic location of the position influence the pay, as does the scale 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 by way of 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 support its total mission. Those embody:
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 corporate’s public relations efforts, or working in conjunction with inner 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 succeed in customers and understand their thoughts on products, companies and brands.
Additionally they 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 achieve and affect prospects, position their products and challenge competitors on the identical speed and scale because the customers.
As it has been with different C-suite executives in this new technology-pushed enterprise paradigm, the CMO must collaborate a lot more extensively with his or her executive peers to be able to keep pace. CMOs additionally must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
Qualifications
CMOs, who may have the title of vice president of sales and marketing, typically have no less than a bachelor’s degree in marketing (although an MBA is usually wantred, if not also required). They typically have at least a decade of experience in marketing and/or advertising and a number of years of experience in a managerial role.
They’re expected to have strong leadership skills, expertise in project development, excellent communication skills and a high level of enterprise acumen.
In addition, the CMO position at this time requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which can be essential to marketing efforts.
As an example, 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 perception can drive sales.
They’re also expected to direct marketing campaigns and buyer outreach via current — and emerging — social media sites, as well as through traditional channels.
To that finish, CMOs have to be highly inquisitive and revolutionary, able to determine rising applied sciences that might disrupt their business or industry and in addition then able to reply to that by directing his or her C-suite colleagues on the right way to reposition the corporate in light of that change.
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