Home What Is A Chief Marketing Officer?

Friday27 May 2022

What Is A Chief Marketing Officer?

A CMO (chief marketing officer) is a C-level corporate executive liable for activities in a corporation that need to do with creating, communicating and delivering choices that have value for customers, shoppers or enterprise partners.

A CMO's primary mission is to facilitate growth and increase sales by creating a comprehensive marketing plan that will promote brand recognition and assist the group acquire a competitive advantage. In order to achieve their own goals and effectively shape 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 operating officer (COO) and hold advanced degrees in both business and marketing. A CMO who has a strong background in information technology may additionally 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 command of creating the strategy for corporate advertising and branding, as well as buyer outreach. Because the senior most marketing position in the group, she or he oversees these features throughout 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 technologies 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 results, with marketing efforts elevating the brand awareness, recognition and loyalty that will ultimately lead to elevated sales.

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

Wage and pay construction
In keeping with PayScale, total compensation for a U.S.-based mostly CMO ranges from almost $85,000 to about $315,000.

The CMO's expertise level and the geographic location of the position affect the pay, as does the size of the organization.

PayScale places the median compensation for a CMO in the United States at $170,000.

CMOs make that money by way of 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 overall mission. Those include:

overseeing the development and placement of the creative elements that position the company 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 internal and exterior public relations groups to create a coordinated message.
Why the CMO function has gained prominence
The technology advancements of the 21st 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 reach prospects and understand their ideas on products, providers and brands.

Additionally they have given a new, a lot more prominent voice to consumers who can instantaneously broadcast their opinions to doubtlessly 1000's, if not millions, of people.

On the similar time, CMOs and their teams are able to tap those technologies to reach and affect clients, position their products and problem competitors at the same speed and scale because the customers.

As it has been with different C-suite executives in this new technology-driven business paradigm, the CMO must collaborate a lot more extensively with his or her executive peers with a purpose to keep pace. CMOs additionally have to be capable of adaptation and innovation, as applied sciences evolve and markets shift in response.

CMOs, who may additionally 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 commonly favorred, if not additionally required). They typically have at the very least a decade of expertise in marketing and/or advertising and multiple 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 enterprise acumen.

In addition, the CMO function at present requires a high level of technical aptitude to maximize the tools and leverage the social media platforms which are essential to marketing efforts.

As an illustration, CMOs are anticipated to oversee the company's use of analytics platforms to understand buyer preferences, priorities and patterns particularly via user-generated media and the way that insight can drive sales.

They're also expected to direct marketing campaigns and buyer outreach via existing -- and emerging -- social media sites, as well as by traditional channels.

To that finish, CMOs must be highly inquisitive and innovative, able to establish rising technologies that could disrupt their business or industry and likewise then able to respond 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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