Chief Marketing Officer Job Description and Responsibility
In the last years, more and more companies have made room for an extra member in their C-suite, the Chief Marketing Officer (CMO). This is one of the most commonly talked designations, as companies have realized the tremendous potential of marketing in ensuring financial success. In spite of this understanding, the Chief Marketing Officer's tenure is on average of 26 months, compared to a Chief Financial Officer who typically lasts for 4-5 years in a company. It is without a doubt, one of the most demanding and stressful jobs out there, as it is expected to deliver instant results.
The Chief Marketing Officer reports directly to the Chief Executive Officer and is primarily in charge of conducting a company's marketing strategy. The CMO has various responsibilities, from marketing communication, market research, distribution channel management, to product development, sales management and pricing. Its main task in any organization is to connect the company with its customers, helping it to become a customer centric organization. A CMO has an in-depth knowledge about customers and markets and has the responsibility to point a company in the right direction in order to facilitate its growth.
A CMO elaborates marketing strategies and implements them by constantly communicating with other departments. He or she leads teams of experts in market research and market communication (advertising and promotion), makes suggestions and offers solutions to improve a company's presence on the market. In addition, the CMO is always up to speed with any new information and acts rapidly in order to align the company to market demand.
The CMO has to periodically report to the CEO and present his or her ideas or strategies. Most often, he or she has the task of convincing other executives in following or adopting a certain course of action. A CMO's performance is easily evaluated, as their task is to deliver immediate and tangible results, so he or she should be accountable for every action. In many situations, CMOs face difficult challenges in doing so, both externally and internally, and they are rapidly held responsible for any loss or decline in a company's activity. This can be an explanation for the short life a CMO has in a company.
As a marketer, a CMO must possess numerous skills such as creativity, analytical skills, interpersonal and communication skills, leadership skills, the ability to persuade, meet deadlines, a high resistance to stress and so on.
The Chief Marketing Officer position is a very complex one, and requires many qualifications, a tremendous number of skills, and solid experience. Regularly, the person appointed as the CMO is a highly educated person who holds a bachelor's or a master's degree in marketing and has strong knowledge of leadership, management, sales, and even finance. To aspire to a CMO position, one must demonstrate relevant experience in marketing and leadership.
The profile of Chief Marketing Officer is a very complex one and cannot be depicted in just a few words. There is one thing you could say though: the CMO is the best customer psychologist there is.