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May 3, 2024
A chief marketing officer is a C-suite level executive responsible for the marketing strategy of a business. They are responsible for conducting market research, understanding what competitors are doing, and formulating a marketing plan that will cut through the noise.
It goes without saying that a CMO needs to have extensive experience in all aspects of marketing. While they won’t be responsible for day-to-day marketing campaigns, they will be responsible for assembling the teams that put these campaigns together. They will also determine the overarching strategy and how to allocate marketing budgets.
The chief marketing officer is the highest ranking marketing officer within an organisation. They are responsible for determining the direction of the marketing plans. They will allocate budgets, hire teams and be accountable for the results. Marketing is a key part of generating revenue, so a lot rests on finding the right person for this role.
The CMO often works closely with the CEO, as they need to be able to share the CEO’s vision for the future of the company with their ideal target customers. Being able to understand and capture this vision is essential for success.
They will also have to assemble a team of marketing professionals. They will often hire a director or a series of directors to sit directly below them. Every marketing professional in the organisation is accountable to the CMO.
The role of the CMO can broadly be split into four areas: driving revenue, driving growth, building teams and managing the brand and tone of voice. The responsibilities of the CMO could include tasks such as:
The CMO will commonly work closely with other C-suite executives to achieve these objectives. For example, they will have the support for the chief data officer to help turn customer data into actionable insight. They might also work closely with the chief financial officer to help turn marketing plans into financial projections.
The CMO needs to be a confident marketer. They will often cut their teeth in a director of marketing role before taking the next step into the C-suite. They are naturally creative and are able to control the brand story and tone of voice.
They are also confident leaders and are able to inspire a whole team of marketing professionals to get behind the same message.
They are also commercially aware, so they can see what is working for other organisations and what they should replicate, innovate or avoid. While creativity is key, they also need to be able to justify their activities as drivers of revenue and know when to cut their losses on an idea that is not translating into sales.
And finally, they need to be confident communicators. They will often need to justify and explain their activities to the CEO and CFO.
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