Last updated on April 3rd, 2024 at 11:19 am
Do you play an active role in the marketing of your company? Or are you a postgraduate student well-versed in digital marketing and would like to pursue a full-fledged career in marketing in the future?
Do you believe you possess more marketing skills than anyone at your level? Also, if you are more inclined toward marketing, you can pursue CMO (Chief Marketing Officer) as a career.
Here are the roles and responsibilities of a CMO and everything related to it you should know to build a successful career as CMO.
Career as a CMO
A career as a CMO means you should be ready and skilled enough to perform the following tasks:
Take the initiatives to find new marketing strategies related to social media marketing campaigns, print media advertising, billboard advertising, and more.
Enhance and implement the marketing campaigns for each business division
Create a brand image and brand loyalty that appeals to the audience
Bargain and coordinate marketing activities with third-party contractors like graphic designers, content creators, social media managers, etc.
Not just ideate, strategize, and implement but also analyze the daily marketing revenue reports, social media campaign analytics, and more.
CMO in a company
A Chief Marketing Officer (CMO) in a company is responsible for overseeing overall marketing tactics implanted in the business. Any marketing strategy is undertaken to increase business sales while keeping the marketing budget minimum.
Here are a few of the tasks a CMO has to handle in a company:
Market research
Market research is all about researching the company’s target audience. It is also about researching the business niche. For an automobile company, market research will involve finding out about the preferences of its audience when buying a car. Marketing research is also about finding the demographic details of the audience (age, employment, salary, etc).
Such data collected helps CMO frame the marketing strategies accordingly.
Pricing strategy
Pricing strategy is another major decision put forward before a CMO. A CMO is approached before deciding on a price of a product/service. A pricing strategy is based on several factors like the pricing models used by competitors, competitive pricing, and more.
You can learn more about the pricing strategies in a CMO Program.
Marketing communications
Communication is key to implementing successful implement marketing strategies. CMO is also responsible for executing marketing communications i.e. using different marketing communication mediums to speak to the target markets. This can be done through a mix of several marketing communications – direct marketing, sponsorships, influencer marketing, presentations, traditional advertising, etc.
Customer experience analysis
No marketing campaign is successful without proper feedback. A CMO must analyze the customer experience and bridge the gap wherever necessary. As the customer is king, customer EX is integral in marketing. Customer experience analysis is the process of measuring if a product/service meets or fails to meet the expectations of the end user.
Being a non-metric factor, a CMO should be aware of the different ways customer experience can be calculated – through surveys, promoter scores, and more.
How to become a CMO – insights?
Anyone with a commerce background can become a CMO. Art students who have shifted to commerce during graduation or post-graduation can also become CMO.
For a career as a CMO, you need to have wide marketing knowledge, gaining which isn’t rocket science either.
Postgraduate students pursuing MBA in marketing are a perfect fit for a CMO. Students with a slightly different who have an experience in marketing can also upskill themselves to become a CMO.
There are various courses, CMO programs, and certifications that can help even non-commerce background postgraduate students to gain the needed insights to be a CMO.
The confidence that comes from experience is above any degree. Take up marketing-related jobs, work under a CMO, and gradually make your way up. Once you gain confidence and know how marketing works, you will find yourself ready enough to handle the role.
The starting salary of a CMO in India is 40k to 50k per month. This amount goes up as one gains experience. A CMO with 4 to 9 years of experience can easily collect 15 lakhs per year.
Witnessing how the need for good marketing skills is in demand, the payscale of CMOs is expected to grow in the future.
Walk down the path of becoming a CMO today!
Calling out to future and current CMOs, to join a well-developed postgraduate certificate program for CMO designed by professionals from IIT Raipur. It’s a 10-month online CMO certificate course created in association with IMARTICUS Learning. The course covers and provides insights into various marketing concepts needed to work as a successful CMO.
IMARTICUS Learning is a leading learning platform for professionals. We bring high-quality learning courses for individuals and corporates.
