A CMO (chief marketing officer) is a C-level corporate executive answerable for activities in a company that should do with creating, communicating and delivering choices which have worth for patrons, 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. With a purpose to achieve their own goals and effectively form their companies’ public profile, CMOs should be distinctive leaders and assume the voice of the customer throughout 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 strong 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 growing 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 is the CMO’s job to:
understand the company’s position within the marketplace, utilizing traditional strategies, as well as newer applied sciences equivalent to data analytics;
decide how and where the company 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 predicted to produce top-line results, with marketing efforts elevating the model awareness, recognition and loyalty that will ultimately lead to increased sales.
As such, the CMO is expected to work closely (or in some organizations even lead) the sales unit.
Wage and pay structure
In response to PayScale, total compensation for a U.S.-primarily based CMO ranges from almost $85,000 to about $315,000.
The CMO’s expertise level and the geographic location of the position influence the pay, as does the scale of the organization.
PayScale puts the median compensation for a CMO in the United States at $one hundred seventy,000.
CMOs make that money by 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 support its overall mission. Those embrace:
overseeing the development and placement of the creative components that position the company 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 inner and exterior public relations teams to create a coordinated message.
Why the CMO position has gained prominence
The technology advancements of the twenty first century have elevated the significance 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 achieve customers and understand their ideas on products, services and brands.
Additionally they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to probably thousands, if not millions, of people.
At the identical time, CMOs and their groups are able to faucet those applied sciences to reach and affect customers, position their products and problem 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 must collaborate much more extensively with his or her executive friends with the intention to keep pace. CMOs additionally must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who may additionally have the title of vice president of sales and marketing, generally have at the very least a bachelor’s degree in marketing (although an MBA is commonly preferred, if not also required). They typically have no less than a decade of experience in marketing and/or advertising and a number of years of expertise in a managerial role.
They’re anticipated to have robust leadership skills, expertise in project development, wonderful communication skills and a high level of business acumen.
In addition, the CMO position at present requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms that are essential to marketing efforts.
As an example, CMOs are anticipated to supervise the corporate’s use of analytics platforms to understand buyer preferences, priorities and patterns particularly by user-generated media and how that perception can drive sales.
They’re also expected to direct marketing campaigns and customer outreach via current — and emerging — social media sites, as well as by means of traditional channels.
To that finish, CMOs have to be highly inquisitive and revolutionary, able to establish emerging technologies that might disrupt their enterprise or industry and likewise then able to answer that by directing his or her C-suite colleagues on methods to reposition the company in light of that change.
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