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What's 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, communicating and delivering choices that have value for patrons, purchasers or business partners.
A CMO's main mission is to facilitate development and increase sales by developing a comprehensive marketing plan that will promote brand recognition and help the group achieve a competitive advantage. With the intention to achieve their own goals and successfully shape their firms' 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 working officer (COO) and hold advanced degrees in each 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, those 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 growing the strategy for corporate advertising and branding, as well as customer outreach. Because the senior most marketing position in the organization, she or he oversees these capabilities throughout all firm product lines and geographies.
It's the CMO's job to:
understand the corporate's position in the marketplace, using traditional strategies, as well as newer applied sciences corresponding to data analytics;
determine how and where the corporate should 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 anticipated to produce top-line results, with marketing efforts elevating the model awareness, recognition and loyalty that will finally lead to elevated sales.
As such, the CMO is expected to work intently (or in some organizations even lead) the sales unit.
Salary and pay structure
According to PayScale, total compensation for a U.S.-based mostly CMO ranges from practically $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 puts the median compensation for a CMO within the United States at $one hundred seventy,000.
CMOs make that cash 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 help its overall mission. These embrace:
overseeing the development and placement of the creative components that position the company 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 company's public relations efforts, or working in conjunction with internal and external public relations groups 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 succeed in customers and understand their thoughts on products, services and brands.
They also have given a new, a lot more prominent voice to consumers who can instantaneously broadsolid their opinions to doubtlessly thousands, if not millions, of people.
At the same time, CMOs and their teams are able to faucet those technologies to reach and affect prospects, position their products and challenge competitors on the same speed and scale because the customers.
As it has been with different C-suite executives in this new technology-pushed business paradigm, the CMO should collaborate a lot more extensively with his or her executive friends with a purpose to keep pace. CMOs also must be capable of adaptation and innovation, as technologies evolve and markets shift in response.
CMOs, who might also have the title of vice president of sales and marketing, generally have a minimum of a bachelor's degree in marketing (although an MBA is usually preferred, if not additionally required). They typically have at the least a decade of expertise in marketing and/or advertising and a number of years of expertise in a managerial role.
They're expected to have robust leadership skills, expertise in project development, glorious communication skills and a high level of business acumen.
In addition, the CMO position right this moment requires a high level of technical aptitude to maximize the instruments and leverage the social media platforms that are essential to marketing efforts.
For example, CMOs are anticipated to oversee the corporate's use of analytics platforms to understand buyer preferences, priorities and patterns particularly through user-generated media and the way that insight can drive sales.
They're additionally expected to direct marketing campaigns and buyer outreach via current -- and emerging -- social media sites, as well as through traditional channels.
To that end, CMOs should be highly inquisitive and modern, able to establish emerging technologies that would disrupt their business or industry and also then able to reply to that by directing his or her C-suite colleagues on the way to reposition the company in light of that change.
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