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June 13, 2024
Sometimes referred to as the chief business officer, the chief commercial officer role is an important strategic role within an organisation. This individual is part of the C suite and works alongside the chief executive officer to help guide strategic decision making.
They will typically guide departments like sales, marketing and branding. This is a highly creative role that requires an innovative approach to help drive strategic growth. Not only do you need to know how to lead entire departments, you also need to be able to inspire others to get behind your ideas.
If you’re a leader in the marketing sector, you might wonder how you can expand your career. A role as a chief commercial officer is about as high in an organisation as you can expect to get. So, if you’re curious about how to become a chief commercial officer, read on to find out how to get on the right path to the C suite.
The chief commercial officer is responsible for the strategic growth of a company through innovation, branding and sales. This role typically takes charge of the marketing, branding and customer experience departments.
The primary focus of this role is to drive increased revenue and profitability for a company through creative strategies. To succeed in this role, you will need to be headstrong in your ways and able to take on board information from lots of conflicting sources. You’ll then turn this information into strategy, helping to drive growth through increased sales and awareness. The chief commercial officer is often a target-driven individual who thrives on KPIs.
The CCO is a very senior position within an organisation. You’ll work below the CEO and help to inform their decision making. You’ll also work alongside others in the C suite, such as the chief financial officer, who will be responsible for your budgets, and the chief operating officer, who will support you in ensuring you have the assets you need to carry out your plans.
The majority of chief commercial officers will start with a Bachelor’s degree in subjects like marketing, business or finance. Next, they might complete an MBA, but others may enter the workforce and begin to develop their experience.
Alongside your professional qualifications, you will also need to demonstrate a track record for innovation and profit driving initiatives. This could include establishing strong brands, pushing a brand message, or developing strong brand positioning.
You’ll need excellent commercial knowledge and an understanding of branding, positioning and competitor analysis. This is one role where you could make your name as the CCO for a brand new startup. This will enable you to quickly make it to the head of an organisation and show what you are capable of.
Many chief commercial officers will work in sales, marketing and branding before they move into the top position. It requires extensive experience at director level before taking on the challenge of the C suite.
Working at C suite level offers some unique challenges, as you not only need to be excellent in your role and have a strong stance in your opinions. You also need to be able to convince others and lead a team. You might be called in to reassure investors that your strategy is worth backing.
It’s a good idea to gain as much experience as possible before applying for the top job. You should aim to be in a marketing director role for a large organisation for a minimum of 5 years to ensure you have the skills and experience to progress to the next level.
The alternative would be to put your skills to the test with a fast-growing startup. If you choose to head down the startup route, you might be expected to take a much smaller salary (or no salary) while the company gets established. It will be down to you to increase profitability, and in doing so, paving the way for more enviable salaries.
As part of the C suite, you can expect to command a 6 figure salary in this role. Your final salary will often be bolstered by perks such as bonuses or stock options. This will tie your personal financial success to the financial success of the company. This can be highly rewarding and also incredibly motivating.
The average salary for a chief commercial officer in the UK could be between £100,000 and £160,000. This is well above the UK average salary of £29,669. While you will be rewarded for this role, it also comes with some considerable expectations. The chief commercial officer will work long hours to ensure the commercial goals of the company are met.
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