Chief Marketing Officer (CMO) Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a Chief Marketing Officer. Feel free to use our Chief Marketing Officer job description template to produce your own. We also provide you with information about the salary you can earn as a Chief Marketing Officer.
Who is a Chief Marketing Officer (CMO)?
The chief marketing officer (CMO) of a company is accountable for the overall strategy and budget of the marketing plan, which includes internal and external branding initiatives, advertising strategies, and departmental structure. He or she is also accountable for the marketing department’s overall performance. Typically, this position reports directly to the company’s president or chief executive officer. Additionally, this term may be used to refer to the company’s highest-ranking marketing official, in which case it serves as a descriptor rather than a title. The described employee may be a vice president of sales and marketing or a director of marketing services, and he or she will typically report to a vice president or a c-level (top-level) officer.
The duties and responsibilities of a chief marketing officer vary significantly between companies, and factors such as the size of the company, its status as a corporation, and its structure all contribute significantly to the job description for this position. For instance, a large corporation with international operations may have a chief marketing officer in addition to a chief advertising officer. Because a small business is unlikely to have a chief advertising officer, the responsibilities of that position would be incorporated into the other role.
One of the most common responsibilities of this position is strategy, which includes determining the target audience for a company’s products or services, developing a brand image, and setting departmental goals. Typically, the chief marketing officer is responsible for developing the company’s marketing strategy, upon which all subsequent advertising and promotional campaigns must be built.
Typically, this individual is also in charge of the department’s overall budget. This requires him or her to lobby the deciding powers for an annual budget that enables the department to meet its annual goals. He or she must then communicate the approved budget and make necessary adjustments to campaign allocations. For instance, if this individual is given a budget that is 10% less than requested, he or she must determine which programs or initiatives will receive reduced funding or will be eliminated.
Any c-level executive’s primary responsibility is to represent the company at external functions. This includes trade shows, charity events, government functions, conferences, and cross-company advisory boards, among others. Additionally, it may include attending meetings with significant clients or suppliers and speaking to groups on behalf of the business.
The chief marketing officer’s primary responsibility is to structure his department. This may include determining whether distinct staff for advertising, promotions, marketing communications, public relations, and media relations are required. He or she will need to determine staffing requirements and assign accountability. Additionally, the individual will be responsible for hiring managers who report directly to him or her, as well as assisting in the hiring of lower-level employees.
A CMO may also be tasked with identifying potential business partners and even executing some dual marketing campaigns in which both companies are promoted.
These alliances are frequently formed between businesses that are related or share some customers but are not in direct competition with one another.
Another significant aspect of a CMO’s job is assessment. Any executive must keep track of which strategies are effective and be adaptable enough to make necessary adjustments quickly. As a result of this aspect of the job, many CMOs have a solid foundation in not only marketing principles, but also statistics.
Both education and experience are critical factors to consider when hiring a CMO. Though it varies by company size, a minimum of ten years of experience with increasing levels of responsibility is a common requirement. A graduate degree is typically also required.
Oftentimes, this education and experience are rewarded with a sizable salary. CMOs frequently earn well into the six figures. Salary ranges of $300,000 or more are listed in recent advertisements for companies seeking a CMO.
With high salaries, however, come even higher expectations. According to Business Week, the average tenure of a CMO is 26 months. The rest of the executive team anticipates near-instantaneous results from the CMO. Occasionally, those expectations may be unattainable. Building a brand takes time, but with the amount of money frequently spent on marketing campaigns, patience is not a common virtue.
Chief Marketing Officer (CMO) Job Description
Below are the Chief Marketing Officer job description examples you can use to develop your resume or write a job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of a Chief Marketing Officer include the following:
- Establishing the business’s marketing goals and objectives.
- Creating change throughout the organization in areas such as social media or digitization
- Developing and implementing an organization’s marketing strategy.
- Recognizing market opportunities and propelling the business forward
- Researching the customer’s interaction with the organization and recommending improvements
- Taking ownership of the appearance and content of the website(s) and social media outlets, to increase visitor conversion
- Contributing to the business’s growth.
- Establishing marketing objectives and goals
- Strategizing, implementing, and managing marketing campaigns
- Contributing to the company’s overall growth
- Conducting a review and management of your content marketing strategy.
- Establishing key performance indicators for the marketing department
- Maintaining a healthy marketing budget by tracking key performance indicators (KPIs) regularly and presenting reports.
- Collaborating with the sales and development, as well as the customer success teams
- Developing and presenting an annual marketing strategy and plan.
- Utilizing data and reports to assist you in making evidence-based decisions.
- Analyzing the company’s marketing strategy and making recommendations for improvement
- Maintaining current knowledge of emerging technologies.
- Maintaining current knowledge of industry best practices.
- Participating in marketing seminars and educational programs.
- Create, plan, and implement successful marketing campaigns
- Planning, executing, and supervising all marketing and advertising campaigns.
- Collaborating with sales and public relations teams to ensure that objectives are aligned.
- Developing and growing the internal marketing team.
- Establishing a network of trustworthy third-party agencies and marketing professionals.
- Researching and maintaining an awareness of competitor positioning.
- Contributing to the development of new business ventures.
Additional critical tasks include the following:
- Brand management
Brand management is the process of developing a business’s brand and connecting it to its intended customers. A CMO may develop marketing strategies and conduct user research to increase brand awareness.
- Product management
Product management is the process of creating a product from conception to release. CMOs frequently work in product management, as they are responsible for all aspects of a business’s product marketing.
- Market research
Market research is the study of marketing trends to gain knowledge about consumer behavior and competitors’ products. CMOs conduct market research regularly to ensure they are up to date on pertinent data that may affect the company’s marketing and advertising.
- Pricing strategy
This entails establishing the most competitive prices for a business’s goods and services. CMOs frequently collaborate with price strategists to determine appropriate prices that balance the item’s value and market demand.
Qualifications
The Chief Marketing Officer (CMO) is charged with a broad range of responsibilities that include the following:
Education
Chief marketing officers must have a bachelor’s degree in marketing, though most companies prefer or even require an MBA in addition to ten years or more of marketing and advertising experience, as well as several years of managerial experience.
Additionally, individuals can earn degrees in creative fields such as journalism, communications, advertising, or public relations. Additionally, an individual in this position may be required to have a working knowledge of economics, accounting, and data analysis.
Training
To become a Chief Marketing Officer (CMO), you typically need at least ten years of marketing or business development experience, preferably in positions of increasing responsibility, plus approximately five years of experience in leadership roles. Specialized skills, such as targeted marketing, can help you stand out as a candidate. Numerous marketing professionals enroll in online marketing courses to further their education.
Certifications
Certifications enable professionals to demonstrate their competence to prospective and current employers. Prospective CMOs can earn certifications to increase their theoretical understanding of their roles, validate their professional abilities, and advance their careers. These are two of the most frequently awarded certifications in this field:
- Certification of Marketing Management Professional
The CMMP was developed by the International Institute of Marketing Professionals and is a globally recognized standard of marketing excellence. There are four certification levels in this program: associate, manager, executive, and chartered CMMP. Professional ethics, market analysis, planning, and strategy are just a few of the topics covered.
- Certified Professional Marketer
This certification, offered by the nationally recognized American Marketing Association, is available in four specialties and covers topics such as marketing strategy, ethics, insights, buyers and markets, and pricing.
Essential Skills
- Leadership Skills
Chief Marketing Officers leaders. They collaborate with others, assist in motivating them, and coordinate their efforts to accomplish goals. Additionally, they assist in the development of staff for future leadership opportunities.
- Data analysis
The CMO’s analytical thinking abilities are critical. She or he will be tasked with analyzing marketing and financial data and drawing meaningful, actionable conclusions from it.
- Strategic thinking skills
The CMO will employ strategic thinking to develop strategies and coordinate multiple marketing functions. This requires a high level of logical reasoning ability.
- Creative thinking
Creative thinking is just as critical as strategic thinking ability. The CMO must constantly adapt to the rapidly changing landscape of technology-driven marketing, which necessitates the ability to generate new ideas.
- Technical ability
Because so much of modern marketing strategy is technological, CMOs must possess some technical ability. They should feel at ease working with social media, search engine optimization, and other forms of online advertising, as well as developing campaigns for each.
- Collaboration
Due to the complexity of today’s marketing practices, a CMO must be able to collaborate effectively with others. This is particularly true when collaborating with IT to develop technology-based strategies and campaigns.
- Marketing
Of course, the CMO’s knowledge of traditional marketing is required. This knowledge, however, must also be adapted to modern methodologies. To be successful, CMOs must be able to develop and coordinate a variety of marketing strategies.
- Communication Skills
Communication is a necessary component of both marketing and executive leadership. The CMO’s communication skills will need to be effective with both the target audience and the board.
How to Become a Chief Marketing Officer (CMO)
- Earn a degree
Most companies require a bachelor’s degree to become a CMO. Because this is the most senior position in marketing, it necessitates a high level of knowledge and expertise. Degrees in business and marketing are two popular educational paths to becoming a CMO. Additionally, you could earn a bachelor’s degree in a field related to advertising, communications, public relations, or economics. Certain CMOs holds degrees in psychology, as the position necessitates an understanding of consumer thoughts and behaviors. While these majors are all related to marketing, you can still work in the industry even if you studied something unrelated.
- Acquire work experience
Apply for entry-level marketing positions after earning your degree to gain experience. As a senior position, the CMO requires approximately ten years of professional experience. The majority of marketers begin their careers in entry-level positions such as marketing assistants. As they advance in their education, they may earn promotions and advance into higher-level positions. This is typically how candidates acquire the necessary professional experience to advance to the level of CMO. Working in the marketing industry enables you to develop job-related skills that will assist you in your professional development as a marketer. Additionally, you could begin with an internship and progress to full-time marketing.
- Consider pursuing additional education.
Consider further education once you’ve gained some experience in the marketing field. While this is not a requirement, several CMOs holds master’s degrees in marketing, business, or a closely related field. A master’s degree demonstrates that you have specialized knowledge and experience, which is why many CMOs pursue one. This may be advantageous if your bachelor’s degree was not in marketing or a closely related field. It demonstrates that you now possess professional marketing education, which is advantageous for your resume. Another option is to obtain a marketing or business certification or license.
- Establish contacts and build a network
While this is not a prerequisite for becoming a CMO, networking and developing professional contacts can help you increase your chances of landing this position. Oftentimes, becoming a CMO is contingent on who you know in the industry. While having contacts in the field does not guarantee employment as a CMO, it can expedite the process. For instance, if you meet all of the requirements for a CMO position, a professional contact may be able to recommend you to a hiring company.
- Apply for higher-level positions
After acquiring the necessary qualifications for a CMO position, begin applying for higher-level positions. Typically, the jobs you apply for are determined by the role you currently hold. For instance, if you work in management, you may apply for director positions such as marketing director. From a director position, you may apply for vice president positions. Vice president of marketing is one of the highest positions you can hold before becoming a chief marketing officer. When applying for these positions, keep your resume current by adding any relevant credentials.
Where to Work as a Chief Marketing Officer (CMO)
The skills of a chief marketing officer are applied in a variety of industries, including the following:
- Educational institutions
- Business enterprises
- Governmental organizations
- Health care industries
- Nonprofit organizations
Chief Marketing Officer Salary Scale
The average annual salary for a chief marketing officer in the United States is $127,024 per year.