Along with the development and growth of the business, it is CMO marketing strategies. CMO is a person who has the convergence of factors including good management and high intelligence. They have a role to help businesses have the best image and brand in the competitive market.
For detailed explanation What is CMO?Let's find out more detailed information in the article below:
What is CMO?
CMO essence is an abbreviation of the phrase "Chief Marketing Officer” also known as Marketing Director. It is a senior management position in a company who is responsible for Marketing and reports directly to the chief executive officer (CEO). Currently, this title is considered to play an important role in the development of modern enterprises.
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5 Main roles of CMO
Roles of position What is CMO? :
- Branding for businesses
- Capturing market marketing trends
- Evaluating the effectiveness of marketing activities
- Create a cohesive and collaborative working environment
- Understanding customers
CMO will hold important roles and responsibilities of the business. They are the vanguard to bring the most effective brand and market values to the organization. We share the detailed roles of a CMO below, check it out!
Branding for businesses
Corporate governance and branding is a company's greatest commitment and responsibility CMO. A strong brand will contribute to attracting interested consumers. At the same time, increasing customer loyalty, creating brand equity for the company.
Brand is something you can't touch or feel it but you have to make sure you can see it on the financial statements. Brand is a huge asset that can be called the result of credibility, which is the customer's perception of the company's brand.
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Brand is an intangible but invaluable asset for any business. However, that asset is a huge asset of the business that we must protect, especially of a company CMO. That's called measuring brand equity in business.
A business with a strong brand name will make its share price on the stock market higher. High stock prices, on the other hand, facilitate brand enhancement. At that time, the business will be more valued by experts, investors and customers in the market. It is the most successful step any business desires.
What is a CMO job? Being the person who helps create the brand for the company, and at the same time creates the loyalty and trust of customers. A customer comes to a product they all learn about the brand of that business. In the strict tastes of consumers, good brands will be trusted by consumers and especially will become long-time customers. That's what businesses are trying to achieve.
Capturing market marketing trends
Currently, the business market is very diverse and fierce competition between units. There are hundreds of different trading trends at a time. But there are only certain trends that are attractive and create a highlight in the hearts of customers.
Therefore, large enterprises can spend heavily to build their own brand. That's also how they expand their client file. However, when it comes to market trends, it's usually only about timing.
Every year, trends change very quickly and you have to keep up to not become outdated. For example, talking about the Nokia brand, they have been storming the electronics market for a while. And they failed because they could not keep up with the trend, they became obsolete compared to the later technologies. That's what a CMO Also need to pay attention and learn from experience
As a CMO, you need to keep up to date with the latest marketing trends. That is the "leverage" to take your business further.
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Evaluating the effectiveness of marketing activities
Evaluating the effectiveness of marketing activities is a regular work of an enterprise. It's how businesses measure their marketing goals based on specific numbers. For example: increase sales and sales revenue.
Therefore, the evaluation of the effectiveness of each marketing campaign should be CMO elaborate and clear. Before businesses start marketing campaigns, they must ensure that the campaign is most effective.
A good process is created that will connect the company's activities. The experience of the personnel is also used and supported. That's what every CMO aspires to achieve. But to achieve this, the CMO Marketing manager also needs to gain the support and contribution of senior directors, operating experts in all parts of the business.
In case the performance evaluation is not as good as the target, the CMO needs to rethink both the process and the market. They need to find the key bottleneck to solve this difficult problem. And of course no manager wants this to happen. They can only be avoided by getting really serious about market research before launching a particular campaign.
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Create a cohesive and collaborative working environment
A development business is an enterprise with the best contact and cooperation between departments and members. To understand the role What is CMO?, they are also a person who needs to create that connection. The CMO should not work alone with the team. They are leaders, they need to have or develop leadership. CMOs need to find talented people and develop them so that they can fulfill their potential.
In addition, creating a culture of cooperation is also a factor to focus on. There, everyone is heard and has a voice. As a good marketing manager, you'll know how to apply principles to your day-to-day work to help spark new ideas in your operations.
The CMO looks at issues from new angles through internal activities. At the same time, it will lead to surprisingly effective solutions that stimulate ideas and problems.
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Understanding customers
A marketer is not a person who sells products or services to a business. The head of Marketing takes care of the company's greatest asset, the customer experience. .'s biggest mission What is CMO? is to protect and improve the customer experience.
To be effective, CMO needs to have a foresight, a basic understanding of “Design Thinking”. They are willing to stand up to represent customers as the company's board of directors.
Thus, it can be seen that the customer is the center of all services. All businesses operate for a single purpose, which is to satisfy customers. A CMO needs to understand the psychology of customers at each time, that is how to do the right service to hit what customers lack, what customers need.
Experience to become a successful CMO
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The skills needed to become a professional CMO
Must-have skills of a What is CMO? Let's take a look at some of the essential skills below:
- Analytical skills: It is necessary to know how to read data, identify and evaluate sensitive information to develop effective marketing strategies.
- Planning skills: The CMO will be the advisor to the CEO, giving the strategy to build and position the brand.
- Communication skills: Good communication, building cooperative relationships with directors means perfecting the strategy, expanding the market. The CMO must also establish good relations with partners, distributors, press and media.
Job of a CMO
Good CMO marketing manager must ensure multitasking responsibility and must master complex specialties such as: implementing Marketing campaigns, brand management, brand communication, public relations, product development and distribution channels, … Speaking of which, you must have understood something about the high-level expertise and multi-disciplinary knowledge of a CMO, right?
If you become CMO You will have roles in product development, marketing communications, customer service, market research, public relations, distribution channel development, sales administration, performing promotional activities administration. business, business support, etc. Specifically, the CMO's work is as follows:
- Manage and supervise the working process of the marketing department.
- Evaluate and develop business marketing strategies.
- Plan, implement, direct and coordinate with multiple departments to implement marketing plans.
- Research demand for products/services, understand the market and identify target customer segments.
- Research and analyze competitors..
- Work with sales to devise pricing strategies, optimize profits, market share and increase customer satisfaction.
- Identify potential customers
- Develop promotions and promotions
- Plan and develop budgets for marketing activities such as research and development, provision for return on investment and profit and loss.
- Develop and manage advertising campaigns
- Building brand awareness and positioning
- Oversaw online and content marketing strategy.
Salary of Marketing Director position
Do you believe marketing manager Is personnel hard to find? Can anyone take on a stressful, brain-intensive job? The CMO or Marketing Director is a senior employee of the organization, so their salary needs to be "worthy" of the effort they have worked to build.
According to statistics of Vietnam Salary, CMO The lowest salary is 10 million VND and the highest is 120 million VND depending on professional experience and education level. In which, there is a remarkable range, ranging from 28.5 to 43.3 million VND for low to medium high level personnel.
Not to mention that, besides the salary of thousands of dollars, CMO They also enjoy extremely attractive remuneration policies and extensive promotion opportunities in the immediate future. In addition to the hard salary, the marketing directors also have the most other income, which is bonuses and allowances. If they possess at least 1 or 2 foreign languages, they can be sent to work abroad to help businesses expand their markets in the host countries.
Future career prospects
When the market economy is developing, the competition for goods and services is extremely fierce. Companies and businesses need professional marketers to make a difference to attract customers. Marketing industry in the future will be one of the top industries with high output and high income.
Marketing manager is a "hot" profession because not only has many rights but also can receive an extremely attractive salary. Therefore, at present, the demand for this position is also quite large in the job market. Most companies operating in the form of business, buying and selling products or services need to recruit CMO. The development opportunities of this industry will be very open in the future.
Conclude
Marketing is a profession full of experience and challenges. Successful CMO Marketing managers are usually those who love their job, are dedicated, and selfless because of their passion and creativity. This article shared about the question What is CMO?, as well as detailed information on the role of a Marketing manager in the business. We hope that this knowledge is useful to you.
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