What is CMO ? It is a job that is currently very “hot” and is considered very important in every business. Or how to become a CMO? Let’s find out through the article below!
What is CMO? Besides the chief executive officer, the chief financial officer must mention the CMO. It cannot be denied that the success of businesses must have the “shadow” of marketing strategies. Behind our growth through marketing strategies is the operating steps, a position called CMO. So what is a CMO? Let’s dig the article below to know more about what a CMO is!
1. What is CMO?
CMO is an acronym for the English phrase “Chief Marketing Officer”, also understood in the Vietnamese sense as Marketing Director, this is one of the senior management positions in a company, responsible for the field of Marketing. and reports directly to the chief executive officer (also known as the CEO). According to the current situation, this is a title that is considered very important in the development of every business in the new world trend.
Concept of CMO
2. Role of CMO
2.1 Building and affirming the personality of the brand
Managing and building the brand personality of the business is the responsibility of the CMO position. A strong brand attracts consumers and increases their loyalty. Since the brand is something we can’t see, you have to make sure you can see it on the financial statements. This is a huge asset that is easily called “Credibility”, which is the perception of each customer about our company’s brand.
2.2 Stay up-to-date and capture new Marketing trends
There are hundreds of business trends that coexist at the same time, but only a few are relevant to your industry and have an impact on your business. Therefore, many businesses will be willing to invest a large amount of money for new marketing trends that have just appeared on the market. Because of this, choosing the right trend can help open up a market as well as expand a new customer base. However, not all new trends have a long lifespan. As a CMO, having to constantly update and capture new marketing trends is the “lever” to help your business grow.
2.3 Evaluate the effectiveness of the business’s marketing strategy activities
Evaluating the effectiveness of Marketing campaigns is a way that businesses measure the marketing goals that the system sets out based on specific numbers such as: increase in sales or sales,… Effective evaluation of Marketing campaigns needs to be specifically and detailed by the CMO from the time before businesses start a Marketing campaign so that the campaign brings the most successful effect for the business. .
Evaluating operational efficiency
2.4 Ability to build a collaborative environment and culture
CMOs should not have a culture of working separately from their team. As a department/group leader. They need to have or develop their own leadership abilities. Find talents and develop them so that they bring out their best in the assigned task. In addition, building a culture of cooperation is also important because simply where everyone wants to be heard, there are sincere and positive voices are also very important.
A good CMO needs to know how to flexibly apply principles to daily work to inspire new ideas in the marketing activities of the team to be more effective. Through internal activities, business problems can be viewed from many new perspectives. At the same time, it also brings surprisingly effective solutions when the idea is stimulated by psychological comfort.
2.5 CMO is the person who is willing to stand in the position of the customer to understand what the customer wants
After all, a marketer’s job is not to sell products or sell services. It’s about bringing a service experience to customers. Just like a CFO they will keep track of the net profit, a CFO will protect a company’s assets, so the job of a CMO is to protect and improve the service experience and customer’s product. This requires a great vision, a basic understanding of “Design Thinking” knowledge, and a willingness to stand up for customers as a company or brand leader.
Marketing, like many other professions, is a profession with many challenges but also full of opportunities for development. However, the formula to success is of course diligence, trade-off and dedication to the work that you love. What is the challenge for the executive team of the business, including the CMO? It is always facing many dangerous challenges and pitfalls in the marketplace. It is important that they always have the right attitude and stand firm in the face of material difficulties and find solutions to overcome difficulties.
Hope the above article will help you get more useful information about CMO. Good luck!