Chief Marketing Officers (CMOs) oversee all aspects of marketing within an organization or company. Their jurisdiction covers a wide range of areas, including advertising, sales, product development, promotions, pricing, market research and customer service.
Although CMOs delegate many tasks to other employees, they are ultimately responsible for developing the marketing strategy and inspiring others to implement it successfully. CMOs are most concerned with generating revenue and minimizing costs and risks.
Like most top executives, CMOs hold master’s degrees in business administration or marketing. Other beneficial courses include economics, mathematics, advertising, computer science and communications.
In addition to education, CMOs have extensive marketing experience and a proven track record. Some companies may promote upper-level managers to a CMO position, or they may prefer to hire a candidate who has prior executive management experience. To lead their teams successfully, CMOs must stay abreast of current trends by attending conferences and participating in continuing education programs and forums.
Responsible for all marketing operations, CMOs must have in-depth knowledge of marketing principles and the factors that drive the consumer market.
In addition to years of marketing experience, CMOs should have skills in the following:
CMOs and other top executives enjoy spacious offices and flexible schedules. Attendance at various meetings and conferences can require substantial travel, both domestically and abroad.
According to the Bureau of Labor Statistics, employment among top executives is expected to experience little to no change through the year 2018. Some industries, such as health care, may experience greater growth, while CMOs employed in the manufacturing industry may see a decline in employment.
According to a May 2008 government report, the average salary for a campaign manager was just under $90,000. Top executives earn some of the highest salaries in the country, but they can vary greatly according to the industry and size of the organization. CMOs also have access to many other perks, such as corporate expense accounts, club memberships, dining privileges, company cars, private jets and significant bonuses.