A Chief Marketing Officer (CMO) is an executive-level job, demanding a good level of experience in marketing and excellent marketing skills. The CMO is the head of the marketing department and they are responsible for the management of the department. Generating revenue by increasing sales through the means of marketing and advertisement is the main goal of a CMO. There are a number of duties and responsibilities that a CMO performs, which concerns the working of the whole organization and the profit-making process. Therefore, having knowledge and information about other working departments is crucial.
Academic qualification to become a chief marketing officer
- A Bachelor’s degree
- Master’s in marketing or business
- At least 8 years of experience in the specialized field of marketing
- 2-3 years experience as the head of a team or department to show leadership skills.
Duties and responsibilities
There are a number of duties and responsibilities that a CMO perform, comprising:
- Managing the marketing department: The CMO is the person, who is responsible for the efficient working of the marketing department. The CMO discusses all the problems, ideas and reports of the marketing department, directly tot the CEO of the company. In addition, the CMO of a company monitors and function the marketing department, in an organized and effective way.
- Increasing sales: The end goal of a CMO is to increase the revenue of the organization he is working for, by increasing sales through varied marketing strategies and techniques. Certainly, the CMO plans and develops new marketing strategies and advertising techniques to achieve the planned goal.
- Maintaining momentum with other departments: The CMO of a company needs to know the overall functioning of the organization. Therefore, keeping up with the varied departments of the organization to know the current working of the company and the to accomplish the future sales goal, communication and knowledge about other departments is crucial.
- Building and maintaining the image of the company: Maintaining good media image of an organization is very crucial. Especially when the influence of social and digital media on the lives of people is rising at a consistently high rate. The CMO works on building the imagine of the company and develops the brand name.
- Making and executing marketing plans and strategies: A CMO develops varied strategies and plans. Starting from the very basic planning of new strategies and plans to accomplish the goal of finding ways and techniques to execute them in a cost effective way, is one of the many duties of a chief marketing officer.
Skills required to become a CMO
There are a number of skills that a chief marketing officer should have, including:
- Excellent leadership skills: Managing a department and simultaneously working to accomplish other varied overall goals of an organization is not an easy task! Therefore, the basic and foremost skill which a CMO needs is, good leadership skills. To manage the department in an organized and cost-effective way.
- Outstanding communication skills: A CMO needs to be able to express his thoughts and ideas to their team. Therefore, effective communication skills are very important. Moreover to maintain good public relations, to build and maintain the brand name, having good oratory skills is crucial.
- Understanding of market dynamics: The dynamics of the market are changing constantly. Therefore, to keep up with the changing business environment, knowledge about the market and changing market environment is crucial.
- Technical skills: With the increase of influence of social media and technology, on the minds of people, knowing basic technology is crucial. Especially when varied social media platforms have started to become the advertising and marketing place for multi-furious companies.
- Vision and innovative thinking: To fulfill the demands of people and to outshine our competitors, having a vision and creative ideas is mandatory! Especially during the current times when customers have multiple options to choose from. To form plans to achieve goals, vision is crucial. And to executive those plans having innovative ideas is pivotal.
Salary base of a CMO
The role of a CMO is considered to be an executive-level job, therefore the pay of a CMO is also high. That is $ 222,000 average annual pay, with additional cash compensation depending upon company to company. The salary may be up or down from the mentioned amount, depending on the company one is working for and the years of experience one has.