Chief marketing officers are cornerstones in a business. We’ll explain what is a CEO and CMO, their job description and role first. Then we’ll detail what CMOs do, is marketing a high paying job, can you be a CMO without experience and more!
Table of Contents
What is a CEO and CMO?
Let’s start with explaining the roles of CEO and CMO.
Chief executive officer (CEO)
The highest-ranking executive in a corporation is the chief executive officer (CEO). In general, a chief executive officer’s principal duties include making important business decisions, overseeing a company’s overall operations and financial resources, and serving as the primary conduit for information between the board of directors and corporate operations. The chief executive officer frequently represents the business in public.
The board and the company’s shareholders elects the CEO. They answer to the board and chair, who are chosen by the shareholders.
The chief executive officer (CEO) is the highest-ranking individual in a company. |
CEOs oversee all aspects of a business’s operations. |
In many corporations, the board of directors elects the CEO. |
The average annual salary of the 350 largest firms in America is $24 million, or 351 times the annual salary of the ordinary worker. |
The CEO may have a 45 percent impact on a company’s success, according to some studies, while other researchs indicate that they only have a 15 percent impact on profitability variance. |
Chief marketing officer (CMO)
The title “marketing director,” which has similar use to “CMO,” is used by many businesses. A CMO, however, has a greater duty than a marketing director, according to several management and marketing professionals. The chief marketing officer (‘c’ = ‘chief’) must work with and stay up with the other c-executives. This is essential if the business is to change with the ever evolving market of today.
The chief marketing officer is in charge of creating marketing strategies to boost revenue and business expansion. Additionally, CMOs develop plans to boost brand recognition and provide the business a competitive edge. The management of the distribution network and product creation are key areas of a CMO’s concentration.
Chief marketing officer job description
The main role of a chief marketing officer is to supervise the company’s position and image in the marketplace. In this context, the term ‘marketplace’ means ‘market’ in the abstract sense, i.e., the business environment.
The CMO also determines future market approaches, customer outreach, and manages public relations (PR). In some companies, however, public relations is a separate department. In such cases, the chief marketing officer liaises closely with the PR department.
The role of the CMO is far more significant today than it was in the past. This, according to marketing experts, is a result of communications and technological advancements. Through social media, AI, the Internet, and clients’ cellphones, we can now communicate with them.
Who reports to chief marketing officer?
The CMO is a member of the C-level management team and reports to the CEO. The chief marketing officer is in charge of creating marketing strategies to boost revenue and business expansion. Marketing department will report to the CMOs.
What does a chief marketing officer do?
A Deloitte research points out 4 main roles for a chief marketing officer:
“Our research tells us that the CMO’s C-suite peers routinely recognize their customer expertise. But CMOs don’t always fully understand how influential those insights are to the entire organization. By confidently bringing their unique expertise to the strategic table, CMOs can open new doors to collaborating across the C-suite. In doing so, they can transform every facet of the enterprise—from strategic planning to talent management to innovation—into a customer-centric endeavor. That means confidently leveraging their expertise in four key roles: Growth Driver, Innovation Catalyst, Brand Storyteller, and Capability Builder.”
Growth driver
The obligation to generate and manage profitable growth was one of the key areas of attention when we first categorize the CMO duties. Large discrepancies between the ideal condition and reality have been uncovered in subsequent discussions about the position of the CMO as a development driver. For instance, in interviews with several C-suite executives, both inside and outside the CMO function, 50 percent of the interviewers stated that having an enterprisewide mentality was one of the most crucial elements in a CMO’s success. However, just 6% of CMOs claimed to be actively pursuing revenue growth across all international commercial endeavors.
Similar uneasiness CMOs exhibit in embracing the position of growth driver is shown in a second Deloitte research. In a poll of senior marketing professionals, revenue was seen as the most important indicator of growth (by 95 percent of respondents), and 70 percent of respondents felt most confident generating growth through sales. However, just 32% and 20%, respectively, feel ready to influence market share and drive gross margin, despite the fact that the firm considers both of these to be crucial development areas.
Innovation catalyst
Another aspect of the CMO is marketers who can use these platforms to make breakthroughs. Data and intelligence, according to the majority of marketers who play the function of innovation catalyst, may aid them in advancing their growth goal. However, just 18% of respondents think that moving on to the next stage of growth will be aided by having a thorough grasp of the product range.
Brand storyteller
Despite these developments, marketers still have a responsibility to preserve and spread the news about their company’s brands and to allow customers to take part in the story. The role of chief storytellers in fostering brand relevance and consistency has come to define them, and it doesn’t seem like they are straying far from it. According to Deloitte’s report on the shifting role of the CMO, more than 40% of CMOs are engaged in brand-shaping and campaign execution activities. Only 6% of CMOs claim to be actively pursuing revenue growth across all international business endeavors.
The varied tasks of the CMO are expected to grow even more complex as marketing choices are made in real time more often. Chief marketing officers’ ability to play different roles and contribute to the success of their firms will determine the business outcomes.
Capability builder
One of the characteristics of a major CMO function is the ability to gather and use strong marketing capabilities. The reach of the role across the company is demonstrated by marketers who act as capability builders. A research of marketing technology spending in 2017 and 2018 revealed that the CMO was involved in 75% of new technology investments. However, even if more marketers have access to deeper technical knowledge and customer insights, their application scope hasn’t necessarily increased. For instance, according to a Deloitte research, although 34% of CMOs claim to be leveraging these features to enhance campaign management systems, just 10% claim to be doing so to enhance life cycle management or customer experience management platforms.
So in short, what does a chief marketing officer do:
The roles of a chief marketing officer (CMO) |
Managing a business’s entire marketing and sales plan |
Driving income by boosting sales through marketing initiatives |
Creating the organizational framework for the company’s marketing division. |
Negotiating with potential advertisers |
Accepting marketing campaign suggestions |
Synchronizing marketing initiatives with the business’s financial and branding objectives. |
The daily duties of a chief marketing officer (CMO) |
Budgets for marketing should be planned, directed, and coordinated in line with company objectives. |
Create campaigns with discounts, freebies, or competitions to raise awareness of and interest in one of the organization’s goods or services. |
In order to better understand the market and client preferences, conduct market research studies and evaluate the findings. |
Develop a price plan that will entice potential consumers to buy a product or service after doing research to identify such customers. |
Marketing communications, pricing, product marketing, market research, advertising, and public relations. |
Is marketing a high paying job?
You might be interested in learning what an entry-level marketing wage is as you get ready for a career in marketing or advertising. The answer to this question is strongly influenced by the job route you take.
How much does a CMO make?
There is potential for great compensation in this area because salary for chief marketing officer can go up to $140,000 a year without a graduate degree, according to some of the best paid marketing/advertising positions. Although the range is extremely wide, some marketing and advertising positions pay approximately $60,000 for a chief marketing officer salary. Knowing which careers pay well, especially for those just starting out, will help you decide which path to choose for your career.
What is the highest position in marketing?
The some of the highest positions a CMO can reach are listed below. These positions are mainly, e-commerce marketing director, UX director and marketing research manager.
E-commerce marketing director
The position of e-commerce marketing director extends the marketing director’s responsibilities for overseeing an organization’s entire marketing efforts directly to online shops and marketing. In this position, a strong marketing background is combined with expertise of online commerce and general technology. These employees need to be aware of the particular requirements of internet shoppers. Although the Bureau of Labor Statistics does not identify this occupation, Salary.com reports an average yearly salary of $169,402 for this position.
User experience (UX) director
To make sure that customers like using a brand’s and its goods, a user experience director conducts research and analytics. Because the director must comprehend how the total user experience influences the brand, marketing expertise is a must for this role. According to Salary.com, this position will pay an average of $163,600 a year.
Marketing research manager
In order to generate interest in a company’s goods or services, a marketing research manager assists in the research and planning of marketing initiatives. Highly analytical, marketing research managers analyze markets to identify what advertising would be beneficial for a certain target demographic before monitoring that advertising to make sure it stays effective as markets shift. This job path offers a high pay potential and calls for at least a bachelor’s degree. The average yearly wage for advertising, promotions, and marketing managers, which includes marketing research managers, is estimated by the Bureau of Labor Statistics to be $141,490.
How do you become a chief of marketing?
Planning and commitment to your career are necessary if you want to become a chief marketing officer. But master marketers with the necessary experience and business knowledge may easily attain this dynamic, high-powered position.
You must possess a bachelor’s degree if you wish to work as a CMO. Due to the quantity of technical skills you’ll need to acquire, four years of college is the minimum you should pursue, according to PayScale, the Bureau of Labor Statistics, and LinkedIn. Although business-related degrees are the most popular, LinkedIn and Indeed also list a few noteworthy alternative majors:
- International business
- Economics
- Marketing, marketing management
- Psychology
- Journalism
- Communications
- Public relations
Can you be a CMO without a degree?
To be honest, it’s not that easy to achieve. Due to the quantity of technical abilities you’ll need to acquire, a four-year degree is the absolute least you should pursue.
Do I need an MBA to be a CMO?
A solid history of marketing experience is necessary for someone to become a CMO regardless of their educational background. If you don’t have an MBA, you’ll need to have at least ten years of relevant experience. Look for organizations where you may assume leadership roles and put the soft skills necessary for the CMO job into practice. Watch for promotions that give you the chance to take on more responsibility and gain knowledge of how other marketing divisions operate. Beyond the particular area of marketing in which they began their careers, a CMO will need to have a comprehensive grasp of marketing.
Chief marketing officer qualifications |
Education |
Bachelor’s degree |
The majority of CMOs have around 10 years of comprehensive marketing or business development experience in roles with increasing responsibility, with an emphasis on marketing expansion. |
An advanced degree in marketing or business (MBA) is preferable. |
Three to five years of leadership experience |
Essential skills |
Amazing analytical abilities |
Outstanding interpersonal and communication abilities with the capacity to motivate and lead a team. |
Flexibility |
Enthusiastic support for clients |
Comprehensive understanding of brand, product, and service management |
Thorough knowledge of the dynamics of the changing market |
Extensive expertise in a wide range of fields, including production, information technology, law, and finance |
Spirit of entrepreneurship |
How long does it take to become a CMO?
A marketer typically has to have worked in marketing for at least 10 years, with three to five of those years spent in management, in order to become a CMO. Different levels of marketing management provide many marketers with useful experience; they frequently start out as interns or assistants and work their way up.
How do I become a CMO after MBA?
A range of factors can affect how one becomes a CMO. Some people will advance up the ranks after beginning in a direct marketing position. Ascension would be the proper term for this. Most people who follow this route have at least ten years of experience working in marketing roles with growing responsibilities.
Education is the second route a CMO may use. In this situation, candidates may be able to advance to a CMO job more rapidly by enrolling in a specialized program, such as an MBA with a marketing focus. Before guiding the company’s strategy as a CMO, it will be crucial to have practical marketing experience, even on this path.
These routes each have advantages and disadvantages. Gaining first-hand experience in the positions of the individuals you would be directing is an advantage of ascension. You would have a deeper understanding of their wants and struggles. However, the educational route can provide you a quicker route to this position.
Can a CMO become a CEO?
With an average tenure of two to three years (depending on the region), the chances of CMOs rising to general management and ultimately the top position are not that high. They frequently suffer first when growth objectives are not fulfilled since they are the marketing function’s leaders. They are among of the most exposed members of the executive team due to their position at the crossroads of innovation, sales, supply chain, manufacturing, and business executives. Furthermore, CMOs in the same firm are seldom, if ever, elevated to CEO. A CMO must often migrate out of their role and into a new firm in order to become a CEO.
The challenges that CMOs with ambitions for the top position must overcome are significant, and they are probably too large for individuals who aren’t ready to push themselves outside of their comfort zones.
Therefore, it is crucial to adequately prepare by acquiring the abilities and experiences that will make the shift feasible as well as to be aware of the demands and difficulties associated with holding the top position.
But at the end of the day. The answer is yes. A CMO can become a CEO.
What does a CMO do in a startup?
A startup’s expansion depends on having a CMO. Founders discover they need a team member who oversees the broad picture and has the knowledge and expertise to tie it all together when they realize that employing someone to handle their social media or run Facebook advertisements for them isn’t truly doing anything.
That is when a CMO is crucial. A CMO is essential for a startup due to following factors:
A chief marketing officer develops marketing strategies. Everyone seems to know what they’re doing when it comes to marketing, as we discussed before. But most of them don’t. They are knowledgeable enough to believe they require the creation of landing sites, blogs, and public relations. But that’s not the case. A CMO is essential to develop a succesful marketing strategy.
A chief marketing officer oversees the marketing team. You need personnel to carry out your strategy now that you have one in place. Your present team will have to carry out your marketing to- do’s, or you’ll need to hire contractors, depending on how big your business is and how much budget you have.
In summary:
- A CMO is required to sell products and understand how smaller-scale firm operations interact with long-term objectives.
- CMOs are knowledgeable and skilled when it comes to the “human” side of a business, but they are also extremely keen on a number of goals and quantitative criteria required to deliver outcomes that support the expansion of your firm.
- In order to respond to the changing conditions and requirements of the business that arise with development, CMO is skilled in email marketing, public relations, traffic acquisition, SEO, social media, and mathematics.
Conclusion
We have tried to answer the most important questions about the chief marketing officer position in our article.
- What is a CEO and CMO? They are some of the most important execuitves in a business.
- Chief marketing officer job description The main role of a chief marketing officer is to supervise the company’s position and image in the marketplace.
- Who reports to chief marketing officer? The chief marketing officer is in charge of creating marketing strategies to boost revenue and business expansion. Marketing department will report to the CMOs.
- What does a chief marketing officer do? CMO is in charge of all operations inside a company related to developing, disseminating, and delivering solutions that are valuable to clients, customers, or business partners.
- Is marketing a high paying job? The answer to this question is strongly influenced by the job route you take.
- How much does a CMO make? There is potential for great compensation in this area because salary for chief marketing officer can go up to $140,000 a year.
- What is the highest position in marketing? E-commerce marketing director, UX director and marketing research manager.
- How do you become a chief of marketing? Planning and commitment to your career are necessary if you want to become a chief marketing officer.
- Can you be a CMO without a degree? To be honest, it’s not that easy to achieve.
- Do I need an MBA to be a CMO? A solid history of marketing experience is necessary for someone to become a CMO regardless of their educational background.
- How long does it take to become a CMO? A marketer typically has to have worked in marketing for at least 10 years.
- How do I become a CMO after MBA? A range of factors can affect how one becomes a CMO.
- Can a CMO become a CEO? With an average tenure of two to three years (depending on the region), the chances of CMOs rising to general management and ultimately the top position are not that high.
- What does a CMO do in a startup? A startup’s expansion depends on having a CMO, details above!
If you liked this article and curious about the marketing industry check out fast food marketing strategies of 2022.