The chief marketing officer of a company is in charge of the marketing plan’s overall strategy and budget, which includes internal and external branding initiatives, advertising strategies, and departmental structure. He or she is also in charge of the marketing department’s overall performance. The position usually reports directly to the company’s president or chief executive officer. This term can also refer to the company’s highest-ranking marketing official, in which case it is more of a descriptor than a title. The employee in question could be a vice president of sales and marketing or a director of marketing services, and he or she will typically report to a vice president or a c-level (top-level) officer.
The job description for a chief marketing officer varies greatly between companies, and factors such as company size, corporation status, and company structure all play a role in determining the job description. A large corporation with international operations, for example, may employ both a chief marketing and a chief advertising officer. Because a smaller company is unlikely to hire a chief advertising officer, the responsibilities of that position would be transferred to the other position.
Strategy is one of the most common areas of responsibility for this position, which can include determining the target audience for a company’s products or services, developing a brand image, and setting departmental goals. The company’s marketing plan, which all subsequent advertising and promotional campaigns must support, is usually created by the chief marketing officer.
In most cases, this person is also in charge of the department’s overall budget. This means he or she will have to lobby the decision-makers for an annual budget that will allow the department to meet its objectives. He or she must then communicate the approved budget and make any necessary adjustments to campaign allocations. If this person is given a budget that is 10% less than what was requested, for example, he or she will have to decide which programs or initiatives will be cut back or eliminated entirely.
Any c-level executive’s primary responsibility is to represent the company at external functions. Trade shows, charity events, governmental events, conferences, cross-company advisory boards, and other events fall under this category. Participating in meetings with major clients or suppliers, as well as speaking to groups on behalf of the company, are examples of what it entails.
One of the chief marketing officer’s most important responsibilities is to organize his department. This may entail determining whether separate staffs are required for advertising, promotions, marketing communications, public relations, and media relations. He or she will need to figure out how many people will be needed and who will report to whom. The individual will also be in charge of hiring managers who will report directly to him or her, as well as assisting in the hiring of lower-level employees.