What Is A Chief Marketing Officer?

What Is A Chief Marketing Officer?

A CMO (chief marketing officer) is a C-level corporate executive accountable for activities in a company that need to do with creating, speaking and delivering choices that have worth for customers, clients or business partners.

A CMO's major mission is to facilitate growth and enhance sales by developing a comprehensive marketing plan that will promote model recognition and assist the organization achieve a competitive advantage. In an effort to achieve their own goals and effectively shape their companies' public profile, CMOs have to be distinctive leaders and assume the voice of the client 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 can also hold the job title chief marketing technologist (CMT). In some larger 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 answerable for growing the strategy for corporate advertising and branding, as well as buyer outreach. As the senior most marketing position within the group, she or he oversees these capabilities across all company product lines and geographies.

It's the CMO's job to:

understand the company's position within the marketplace, utilizing traditional strategies, as well as newer applied sciences similar to data analytics;
determine how and where the company must be positioned sooner or later;
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 outcomes, with marketing efforts elevating the model awareness, recognition and loyalty that will finally lead to increased sales.

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

Wage and pay construction
In response to PayScale, total compensation for a U.S.-based CMO ranges from almost $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 within the United States at $one hundred seventy,000.

CMOs make that money by way of an annual wage, particular person bonuses, profit sharing and commission.

Chief marketing officer roles and responsibilities
The CMO has a breadth of roles and responsibilities to help its general mission. These include:

overseeing the development and placement of the inventive parts that position the corporate within 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 company's public relations efforts, or working in conjunction with inside and external public relations teams to create a coordinated message.
Why the CMO position has gained prominence
The technology advancements of the 21st century have elevated the significance 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, providers and brands.

They also have given a new, much more prominent voice to consumers who can instantaneously broadcast their opinions to doubtlessly thousands, if not millions, of people.

On the identical time, CMOs and their groups are able to tap these technologies to reach and influence clients, position their products and problem competitors on the similar speed and scale because the customers.

As it has been with other C-suite executives in this new technology-pushed business paradigm, the CMO should collaborate a lot more extensively with his or her executive peers in order to keep pace. CMOs also 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, usually have no less than a bachelor's degree in marketing (although an MBA is usually favorred, if not also required). They typically have at the very least a decade of experience in marketing and/or advertising and multiple 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 role immediately requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which can be 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 means of user-generated media and how that perception can drive sales.

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

To that end, CMOs must be highly inquisitive and modern, able to determine emerging applied sciences that could disrupt their business or industry and likewise then able to answer that by directing his or her C-suite colleagues on how you can reposition the company in light of that change.