Chief Marketing Officer (CMO) – Did you know that a company cannot run without an executive board. Where, the executives themselves are the people who sit on the board of directors. His job is to set the direction and course of a company. It is the people who are in it who have different ranks.
Starting from the top ranks, namely the main director or also known as the CEO ( Chief Executive Officer ). A CEO, of course, cannot lead a company alone, therefore a CEO must get help from his subordinates, who are probably most familiar with the title deputy director.
In such a company, there may not be only one deputy director. Because, it is determined by how many company positions are needed. With one deputy director who has a very important role in a company, namely the Chief Marketing Officer or also called CMO.
The Chief Marketing Officer (CMO) is one of the key players who is very responsible for conveying company information to the right audience. The Chief Marketing Officer has major primary responsibilities in several areas such as sales management, product development, distribution channel management, marketing communications.
Not everyone can occupy this position, because a Chief Marketing Officer is required to have very high managerial technical knowledge. So, before discussing in more depth the roles and duties and qualifications that a Chief Marketing Officer must have , you should first understand the meaning of a Chief Marketing Officer (CMO).
Definition of Chief Marketing Officer (CMO)
According to the Market Business Review, it states that the Chief Marketing Officer (CMO) is an executive position or company leader who has responsibility for marketing or marketing matters. Where as one of the elements of leadership, a Chief Marketing Officer must coordinate in carrying out his duties.
This is so that the various decisions he makes are in line with the company’s vision and do not overlap with other leadership elements. Many other sources also say that the Chief Marketing Officer is the same as the Marketing Director. This is because the Chief Marketing Officer (CMO) is the leader of the company.
Meanwhile, Forbes stated that the Chief Marketing Officer (CMO) is a pretty terrible position. This is because the Chief Marketing Officer does not only deal with marketing, but is also closely related to business development. Not infrequently, the company’s major innovations actually come from the work of a Chief Marketing Officer .
Duties and Authorities of the Chief Marketing Officer (CMO)
As a leader in the field of marketing, a Chief Marketing Officer has very broad duties and authorities. Referring to Talent Ft, there are several duties and authorities of a Chief Marketing Officer (CMO), including the following:
1. Define Marketing Goals and Achievements
As a company leader, a Chief Marketing Officer (CMO) has the task of determining marketing objectives and achievements. After that, various goals with each achievement are implemented in the form of a marketing strategy.
A Chief Marketing Officer , is responsible for deciding what kind of strategy to do and what is suitable for the company. Therefore, a Chief Marketing Officer must be able to combine various decisions with fellow company leaders and staff so that marketing goals can be achieved.
2. Aligning the Strategy with the Budget
After determining the marketing objectives and achievements of the company, another task of a Chief Marketing Officer that must be carried out is to oversee their implementation. various strategies that do of course require a lot of money. Therefore, a Chief Marketing Officer is obliged to monitor the implementation so that it can be in accordance with the given budget.
Good marketing performance can be judged by the suitability between the budget and the amount of results achieved. Therefore, if there are problems in the process, a Chief Marketing Officer must make a decision regarding the implementation of the marketing strategy.
3. Analyzing Company Strategy
Once a strategy has been successfully executed, a Chief Marketing Officer (CMO) needs to know what happened to the process. In addition, to ensure that the strategy can run according to the plan and budget set, it is also used to determine the strategy going forward.
By understanding the market and business conditions as a whole, a Chief Marketing Officer can analyze the accuracy of the strategy he is implementing, as well as to improve the strategy in the future.
4. Understand the Latest Marketing Practices
The world of marketing or marketing is a dynamic world. Where, the company occurs erratically. As a Chief Marketing Officer (CMO) it is your responsibility to understand these changes. It is intended that the strategy implemented is not left behind by other companies.
Therefore, as previously stated, various innovations often emerge from a Chief Marketing Officer . This is due to the ability to understand marketing dynamics and be able to adapt quickly.
5. Contributing to the Company’s Growth
With various strategies that have been implemented, indirectly, a Chief Marketing Officer (CMO) also contributes to the company’s growth. In fact, a Chief Marketing Officer can also be a liaison between a company and other companies.
This is often done when a Chief Marketing Officer attends a marketing conference. At that moment, the task of a Chief Marketing Officer (CMO) is mandatory to establish relationships with other parties in order to develop and grow the company better.
The Role of a Chief Marketing Officer (CMO)
Like most executive levels, a Chief Marketing Officer (CMO) has a full schedule and meetings, emails, new projects, and so on. The day-to-day responsibilities of a Chief Marketing Officer vary depending on the size of the company and the products or services it offers.
For example, a Chief Marketing Officer from a small consumer goods company that focuses more on direct marketing strategies from Business to Consumer (B2C), such as social media marketing, product branding, and market research. Following are the 4 (four) roles of the Chief Marketing Officer (CMO), including:
1. Drivers of Company Development
One of the important roles of a Chief Marketing Officer is to increase sales and profits and ensure a positive Return On Investment (ROI) figure from the marketing budget. The part that is the focus for improving a Chief Marketing Officer includes gross margin income, and market share.
2. Supporting Consumer Convenience
It is the responsibility of a Chief Marketing Officer to provide a good experience to customers. Where a good experience will make these customers stay to become repeat customers.
3. Innovation Drivers
A Chief Marketing Officer can experiment and innovate to develop his company. Where, a Chief Marketing Officer is able to try the use of new marketing technologies and tactics while providing new solutions to meet customer wants and needs.
Deloitte states that a Chief Marketing Officer must act as the architect and steward of a particular brand by telling a story and inviting consumers to participate in that story.
Key Qualifications to Become a Chief Marketing Officer (CMO)
By looking at the duties and authorities, as well as their quite a number of roles, of course, a Chief Marketing Officer (CMO) candidate is needed who can meet several key qualifications. The following has presented some of the main qualifications to become Chief Marketing Officer , including:
1. Have a Vision and Strategic Planning
Marketing is an important part that drives the company’s growth. Therefore, the Chief Marketing Officer needs to be a visionary who is able to assist the executive team in making forward-looking decisions based on marketing opportunities and challenges.
Strategic planning also has a very close relationship with the company’s vision. The top Chief Marketing Officer (CMO) needs to play a critical role with the ability to identify market trends and patterns. If the Chief Marketing Officer is able to identify market tastes before competitors do, then the company will gain significant profit potential.
2. Mastering Data Analysis and Interpretation
No company can survive in the digital age without a data-driven marketing system that includes powerful software with the capacity to collect and analyze massive amounts of data. This is because the Chief Marketing Officer (CMO) requires analytical skills to participate in strategy formulation and infrastructure development, data collection processes, and program development.
After that, assisted by technology and SOP implementation in collecting customer data, a Chief Marketing Officer also still needs to turn it into a report and interpret the results. Quality interpretation can help optimize the customer experience, target marketing efficiency, and return marketing investment.
3. Focus on Consumers and Customer Experience
Not only data-based marketing systems, customer experience is one of the driving factors in a successful business in the digital era. Internal expansion and cellular technology give customers access to a wide range of choices to meet their needs.
Leading companies realize that providing a high quality user experience, both from their website , home mobile application and throughout the buying process will result in high sales and customer satisfaction.
Currently, a number of marketing agencies and companies also have their own experts whose job is to observe and evaluate user experience. these professionals understand all aspects of optimizing UX ( User Experience ) and user experience. In order for a Chief Marketing Officer (CMO) to be able to successfully lead people in this field, he also needs to know how the USD is evaluated, developed, and continuously improved.
4. Think Innovative
The customer behavior data obtained is the main source of feedback about the company’s performance and future projections. This information requires a Chief Marketing Officer to be able to think innovatively and identify opportunities to add, remove or modify products, services and processes.
By monitoring and improving the customer experience, a Chief Marketing Officer (CMO) will be able to recognize when there are changes in customer approaches and demands. If a company is always able to meet customer demands and always update purchasing channels according to market preferences, then the company’s position will be increasingly leading in the industry it is in.
5. Content Management
Marketing content is part of a marketing strategy and system in today’s digital era. Where content marketing includes optimized development and distribution through a block, social media, website, and so on. Based on the Google/Millward Brown Digital B2B Path to Purchase Study Report , it states that 89% of B2B buyers use the internet as part of their product research. The majority of companies use Google to find information and help solve business problems.
Therefore, the Chief Marketing Officer also needs to understand all the processes of cash management, so that he can properly lead the planning and implementation of content. The process covers content creation plans aligned with the needs and behavior of targeted customers, as well as regarding content distribution.
Good content processing will require collaboration between marketing communication strategies on social media, as well as conversations that occur on other communication channels. For example, e-mail or telemarketing .
Chief Marketing Officer (CMO) Skill Qualifications
To carry out complex tasks as above, a Chief Marketing Officer (CMO) is required to have and fulfill several skill qualifications. The following are a number of skill qualifications that must be possessed by a Chief Marketing Officer, including:
1. Strategic Planning
Given the important duties and roles carried out by a Chief Marketing Officer (CMO) as explained above, it can be said that a Chief Marketing Officer must be able to make a good planning strategy. Where the planning strategy includes branding planning, marketing planning, to product manufacturing planning.
2. Data Science
In making a planning strategy, a Chief Marketing Officer is required to be able to process various data. Not only being able to process it, the Chief Marketing Officer is also required to be able to interpret and analyze the data. This data can later be used by the Chief Marketing Officer in determining and developing product planning, marketing and manufacturing planning strategies.
3. Innovative Thinking
In their duties, such as brand management, marketing communication , to product management , the Chief Marketing Officer is also required to have innovative thoughts. The Chief Marketing Officer (CMO) is required to be able to formulate important innovations related to how companies carry out communication, branding and product management.
This innovation is closely related in determining competition with competitors. It’s not imaginary, if to increase brand awareness, then marketing must be done by following the trends that apply to the community.
The movement of digital technology, and very tight business competition requires the Chief Marketing Officer to have adaptable and adaptable characteristics in every competition and trend in the business. These adaptable skills are related to the west with innovative thinking .
Education or Majors Chief Marketing Officer (CMO) Can Take
There are a number of companies that require a master’s degree to become a Chief Marketing Officer (CMO). However, there are also small companies that only hint at bachelor graduates becoming Chief Marketing Officers . So, what majors can become Chief Marketing Officer ? Below are several majors that can become Chief Marketing Officer, including:
- Business Administration
- Business management
Chief Marketing Officer (CMO) Salary
Salary for a Chief Marketing Officer (CMO) varies, it depends on company policy. In large companies, the average salary and benefits of a Chief Marketing Officer range from IDR 20,000,000 to IDR 35,000,000 per month.
Meanwhile, in a number of financing companies the Chief Marketing Officer receives a basic salary, including:
- WOM Finance Chief Marketing Officer IDR 2,943,553 .
- Chief Marketing Officer Mandiri Utama Finance IDR 3,800,000 .
- Chief Marketing Officer Adira Finance IDR 3,800,000 .
- FIF Group Chief Marketing Officer IDR 6,000,000
In addition to salary, usually a Chief Marketing Officer at a financial finance company also earns a sizable commission.
This is information related to the Chief Marketing Officer. Hopefully the information presented above can help and add insight to the knowledge of the readers.
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