What Is A Chief Marketing Officer?

What Is A Chief Marketing Officer?

A CMO (chief marketing officer) is a C-level corporate executive chargeable for activities in an organization that need to do with creating, speaking and delivering choices that have value for customers, purchasers or business partners.

A CMO's primary mission is to facilitate progress and improve sales by developing a complete marketing plan that will promote model recognition and assist the group acquire a competitive advantage. In order to achieve their own goals and effectively form their companies' public profile, CMOs have to be exceptional leaders and assume the voice of the customer across the company.

Chief marketing officers typically report to the CEO or chief operating officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a robust background in information technology may additionally hold the job title chief marketing technologist (CMT). In some bigger organizations, nonetheless, those positions are separate and the CMT reports to the CMO.

Chief marketing officer job description
More specifically, the CMO is the executive in charge of creating the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position in the group, he or she oversees these features throughout all firm product lines and geographies.

It is the CMO's job to:

understand the company's position in the marketplace, utilizing traditional strategies, as well as newer technologies reminiscent of data analytics;
decide how and the place the company ought to 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 predicted to produce top-line results, with marketing efforts elevating the model awareness, recognition and loyalty that will in the end lead to increased sales.

As such, the CMO is expected to work intently (or in some organizations even lead) the sales unit.

Wage and pay construction
In accordance with PayScale, total compensation for a U.S.-based mostly CMO ranges from practically $eighty five,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 $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. These include:

overseeing the development and placement of the inventive parts 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 inner and exterior 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 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 prospects 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 broadcast their opinions to potentially 1000's, if not millions, of people.

On the identical time, CMOs and their groups are able to faucet those technologies to succeed in and affect prospects, position their products and problem competitors on the identical speed and scale because 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 with a view to keep pace. CMOs additionally should be capable of adaptation and innovation, as technologies evolve and markets shift in response.

CMOs, who may also have the title of vice president of sales and marketing, typically have no less than a bachelor's degree in marketing (though an MBA is usually desirered, if not additionally required). They typically have a minimum of a decade of experience in marketing and/or advertising and multiple years of experience in a managerial role.

They're expected to have robust leadership skills, expertise in project development, excellent communication skills and a high level of business acumen.

In addition, the CMO function in the present day requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms which might be essential to marketing efforts.

As an illustration, CMOs are anticipated to supervise the corporate's use of analytics platforms to understand customer preferences, priorities and patterns particularly by way of user-generated media and the way that perception can drive sales.

They're additionally expected to direct marketing campaigns and buyer outreach by way of current -- and emerging -- social media sites, as well as by way of traditional channels.

To that finish, CMOs have to be highly inquisitive and progressive, able to establish rising applied sciences that would disrupt their business or trade and also then able to respond to that by directing his or her C-suite colleagues on how one can reposition the corporate in light of that change.