What Does A Chief Marketing Officer (CMO) Do?

A Chief Marketing Officer (CMO) is an all-rounder professional responsible for a company’s marketing and brand management. These individuals understand customer requirements and help develop a strategy to convey a company’s unique selling points to its intended target group. A CMO acts as a marketing expert, manager and executive.

Job Profile of a CMO

The main role of a Chief Marketing Managers (CMOs) is to lead the marketing efforts in a company which includes developing marketing strategies, implementing them, and overseeing marketing teams. The Chief Marketing Manager is also responsible for analyzing customer data and trends to identify opportunities for growth and to develop effective marketing campaigns. Additionally, they must ensure that marketing campaigns are properly executed and that they support the overall goals and objectives of the organization.

These teams can usually be divided into the following categories:

• Marketing analytics – Team that oversees planning, reporting, lead management, etc.
• Integrated marketing – Team that’s in charge of product marketing, pricing strategy, packaging strategy, etc.
• Digital marketing – Team responsible for social media strategy, website strategy, SEO, etc.
• Brand marketing – Team that handles brand strategy, design, copy, etc.
• Communication – Team responsible for executive thought leadership, PR, crisis communications, etc. This small and mighty group manages regional agencies to support their efforts.

Chief Marketing is a strategic job and the CMO is a c-level executive. Therefore, the CMO is closely involved in the board of directors or the management.

A Chief Marketing Officer is employed by companies of almost all sizes – from global corporations to start-ups. This applies to all industries, since every company has to build a brand image.

Find the right CMO for your business here

Responsibilities of a Chief Marketing Officer

The function of a CMO with regard to strategic alignment is based on the “Four Ps” of marketing: 

• Product (Product)
• Price (Pricing) 
• Promotion (Communication) and; 
• Placement (Distribution) 

Therefore, the day-to-day work of the CMO is varied. Their main goal is to develop and implement a marketing strategy that improves brand awareness, increases customer loyalty and ultimately, drives sales.

Typical tasks include the planning and conception of measures for marketing, advertising and strategic positioning. The CMO commissions market research, initiates product testing and is responsible for the marketing budget. Their goal is to ensure that the marketing initiatives are cost-effective.

They also analyse customer data to create more effective campaigns and to better target potential customers, monitor distribution and sales, are members of the board of directors and take on managerial tasks like annual appraisals, target agreements, assessments.

One of the ongoing tasks for CMOs is to monitor industry trends and the competitive environment. A Chief Marketing Officer (CMO) reacts quickly to changes and, if necessary, implements new marketing measures to ensure that the company is keeping up with the trends and competition.

As the CMO has a lead position, they must be able to ensure that the whole marketing team works together effectively and efficiently. 

What are the responsibilities of a Chief Marketing Officer?

• Planning and conception of marketing measures
• Growing and developing the marketing team
• Managing the creation of marketing materials and campaigns
• Conducting market research
• Determining KPIs for the marketing department and report on marketing performance
• Creating a plan for product testing
• Creating and presenting the annual marketing plan and strategy
• Analysing company’s marketing strategy and suggesting improvements
• Monitoring the marketing strategy and ensuring goals are reached
• Planning and implementing marketing budget for promotional activities and campaigns
• Monitoring market trends, the competitive environment and customer behaviours
• Staying up-to-date with the latest best practices
• Building a network of reliable marketing professionals and maintaining relationships with key strategic partners
• Approving marketing campaign ideas
• Lead the planning and execution of webinars, conferences, events
• Collaborating with other departments to guide a unified approach to customer service, distribution etc. 

What Skills Do You Need to Become a Chief Marketing Officer?

A Chief Marketing Officer must be familiar with the economic way of thinking and have a strong market and customer orientation. They need deep knowledge of business operations and strategies to develop effective marketing plans.

They must also possess very good conceptual and analytical skills, creativity and the ability to grasp things quickly. 

Communication skills and sales talent also make a successful CMO.

The requirement profile is supplemented by team spirit, leadership skills and the ability to inspire employees and customers for a product. 

As digital marketing becomes increasingly important, Chief Marketing Officers must stay up-to-date on the latest trends and technologies in the digital world.

In addition, good time management, resilience and flexibility are among the required skills. Good foreign language skills are also particularly important for internationally oriented companies.

What makes a good Chief Marketing Officer?

• Demonstrable experience in developing efficient strategies for various marketing aspects
• Deep understanding of changing market dynamics
• Deep knowledge of business operations and strategies and a strong economic mindset
• Knowledge of marketing principles
• Knowledge of brand, product and service management
• Exceptional knowledge of marketing techniques and platforms
• Experience in customer acquisition and retention strategies
• Hands-on experience with CRM and SEO tools such as Google Analytics, HubSpot and SalesForce
• In-depth knowledge of big data analysis
• Proficient in MS Office and business software
• Budgeting skills to ensure maximum ROI
• Strong market and customer orientation
• Good sales  and communication skills 
• Strong leadership skills

Background and education

The training to become a Chief Marketing Officer (CMO) is not formalised. Nevertheless, most employers have clear ideas about the background of an applicant, since this is a managerial position.

A CMO typically holds a bachelor’s degree, usually in the field of Marketing, Economics, Business or a related field. Also, master’s degrees in business administration (MBA)  or marketing may be beneficial.

In addition, the applicant is expected to have several years of professional experience in sales and marketing, communication or leadership. 

Lateral entry is also possible with a degree in a subject outside of economics. In that case, professional experience and additional qualifications are particularly important.

Continuing education

A Chief Marketing Officer (CMO) should continue to educate themselves regularly. This is because market conditions and customer expectations are constantly changing, and competitors are also adapting their marketing measures. 

In some cases, a CMO may need additional professional certifications, courses or workshops:

Private educational institutions offer courses and workshops on this. You can find examples of some down below:

• Project management certification
• Google Data Analytics Professional Certificate
• Chief Marketing Officer (CMO) Program
• AMA Digital Marketing Certification 
• CMO Foundations: Become an Effective CMO
• Certified Professional Sales Consultant (CPSC)
• Fundamentals of Digital Marketing (Google)
• Hubspot certifications

Salary of a Chief Marketing Officer

The average salary of Chief Marketing Officers is around $178,000 per annual year. The starting salary is almost $90,000 per year whereas the top salary is $278,000. 

These numbers can vary depending on the size and solvency of the employer, the industry, region, individual experience and qualifications, the scope of personnel development and negotiating skills.

In Germany, the salary range for CMOs is around €65,000 – €192,000 whereas in the UK, the range is £56,000 – £200,000.

In Spain, the salary range for Chief Marketing Officers is €29,000 – €105,000 per year.

What is the salary of a CMO?

US	$90,000 – $278,000
Germany	€65,000 – €192,000
UK	£56,000 – £200,000
Spain	€29,000 – €105,000

How much do freelance Chief Marketing Officers charge?

What is a fractional CMO?

Now that you know what a CMO is, let’s talk about fractional CMOs. A fractional CMO is someone who acts as a CMO on a part-time basis. They typically hold the same responsibilities and work on the same tasks as a full-time CMO without forcing companies to have to hire them full-time.

What is the difference between a fractional CMO and an interim CMO?

Think of fractional CMOs as freelance Chief Marketing Officers –  these are professionals who have the option to work for multiple companies at any given time. 

An interim CMO, on the other hand, is usually hired on a full-time basis but only for a short period of time. They are hired in order to fill a gap and will only be around until a full-time CMO is found. 

Why hire a fractional CMO?

Hiring a fractional CMO is a good idea for businesses and organisations that could benefit with a CMO’s guidance without having to have one on staff full-time. 

Additionally, since a fractional CMO isn’t a full-time employee, they know that time is of the essence and they will dedicate their time to getting the project done as quickly as possible.

Many companies are increasingly recognising the value of outsourcing other C-Suite roles as well, such as the CTO. They bring in professionals with top-level experience and knowledge without having to bear the cost of hiring someone permanently.

How much does a fractional CMO cost?

On average, a fractional CMO charges between $200-$350 per hour for their services. This means their annual salary can vary depending on their rate and the number of hours they work for. 

Thanks to platforms such as freelancermap, it’s easier to access part-time, independent, or fractional CMOs and other c-executives.

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