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- WHO IS A CHIEF MARKETING OFFICER (CMO)?
- CHIEF MARKETING OFFICER’S (CMO’S) JOB DESCRIPTION
- CHIEF MARKETING OFFICER’S (CMO’S) SALARY
- THE ESSENTIAL SKILLS OF A CHIEF MARKETING OFFICER’S (CMO’S)
Whether to achieve market penetration, brand promotion, or any other marketing goal of a company. It’s apparent that the role of a marketing team is pivotal in a company. And just like every other C-level position of a company the Chief Marketing Officer is in charge of the marketing team. So, what should you know about this position? The job description, the skills. Let’s iron out your questions with this post.
WHO IS A CHIEF MARKETING OFFICER (CMO)?
A CMO (chief marketing officer) is the C-level executive who is responsible for planning, developing, implementing, and monitoring the marketing activities of a company. So, the position of CMO is vital to every company. Because they are the guys that know ins and outs, pros and cons of the market a company wants to function in.
CHIEF MARKETING OFFICER’S (CMO’S) JOB DESCRIPTION
Basically, the CMO’s job description involves overseeing the marketing team’s activities and reporting to the CEO of the company. The list below shows a customizable template of a CMO’s job description.
- Set marketing goals and objectives
- Research on the target market of the company
- Keep the marketing strategies of competitors in check
- Create, plan, implement the company’s marketing strategies
- Work with the sales team
- Review and analyze companies marketing strategies for improvements
- Know the latest technology and best practices
Also, in some companies, sales management is incorporated as part of the job description of a CMO.
CHIEF MARKETING OFFICER’S (CMO’S) SALARY
The CMO’s salary varies based on the company with big companies giving out the big pay. So, basically, the salary of a CMO is dependent on the company’s budget. And the range for the CMO’s salary in the US varies wildly. With top CMOs earning as high as 15 million USD per year. However, on the average the CMO’s salary in the US is just over a hundred and seventy thousand USD per year.
THE ESSENTIAL SKILLS OF A CHIEF MARKETING OFFICER’S (CMO’S)
The marketing environment is dynamic, affected by many factors that can throw a company off if they are neglected. The chief marketing officer is the C-level cooperate executive whose functions interact most with the market environment. So, they, the chief marketing officers, need some essential skills that will keep their company in the industry and also keep them as a CMO in the future.
Constant consumer observation:The consumers are a major force in the market. Even loyal customers are easily by better products that satisfy their needs. So, the smart CMO should always keep watch at the interest of consumers in his industry. Because this will help him make the right decisions in his marketing activities.
Data aficionados:Data about the market and about every of the company’s marketing activities are very important to the CMO. Because they are needed for better judgement in the next marketing activities of a company. Also, CMO that’s a data aficionado can easily defend any of his marketing activities in corporate meetings.
Innovation and creativity:Creativity and innovation make marketing activity unique. For example, when most big companies go into experiential marketing, they rarely copy an old idea that has been done by another company. Copycatting a rival suggests the mediocrity of your company in the minds of consumers.
Flexibility in tech adoption:Technology has proven itself, several times, as a facilitator of activities. Therefore, a smart CMO must realize the power in every new technology and how it can foster his marketing activities. Hence, dropping old ones when necessary and picking up new ones.
Resilience:Depression can manifest as a result of failure in a marketing activity. As a CMO, marketing is a war and your job is to make your company the best in the market. So, in an attempt to do this you can lose some battles, and win some. However, make sure you win the major battles and to do this, your resilience should be top-notch in the face of failure.