According to the U.S. News portal, the marketing manager specialty ranks 19th out of the 100 highest-paid jobs. We tell you how this profession will develop and where it is better to get it.
Who Is CMO?
The Chief Marketing Officer (CMO) is the manager responsible for the marketing strategy for a product or service. This position exists only in large companies where marketing is handled by a separate department. In smaller companies, this role may be performed by the CEO, head of sales, or marketer.
The Marketing Director is responsible for:
- Analysis of the market, target audience, and distribution channels
- Development and implementation of a marketing strategy
- Bringing new products to market
- Brand building
- Advertising and PR
- Coordination with other departments
Along with these, a CMO is also responsible for representing his/her company in international events like CMO Summit and other business conferences.
According to the forecast of the British magazine, The Economist, in four years CMO will be responsible for the entire consumer direction. 90% of CMOs believe their departments will have a major impact on their companies’ business strategy by 2020, and 80% believe they will have the same impact on a company’s technology decisions.
“We all thought that the advent of social, mobile, and digital technologies changed our world, but in reality, this is only the beginning of change,” said Christine Lemkau, director of marketing at JPMorgan Chase. “Marketing is now the very essence of the company. It is a brand. Marketing is the customer experience.”
What A CMO Must Have?
As a rule, applicants for the position of director of marketing must have:
- Higher specialized education
- Experience in solving complex marketing tasks
- Acquaintances and connections
- Managerial skills
- Presentation, negotiation, and argumentation skills
- SMM skills
- Technical skills
Pros And Cons Of This Position
Key Benefits of being a Marketing Director:
- High level of remuneration
- Status, the prestige of the position
- High demand for such leaders
- Creative, non-trivial tasks
- Decision-making autonomy, independence, and the ability to directly influence the activities of the enterprise
There are other nuances that some consider pluses, while others consider disadvantages:
- Frequent business trips
- Irregular working day (it is not necessary to come to the office by nine, but sometimes you can finish the tasks scheduled for the day only late in the evening)
- The unpredictable rhythm of life
- High level of responsibility
All this entails both deep satisfaction 15minutes4me with personal achievements and constant stress, which often turns into emotional burnout and chronic fatigue syndrome.
Where To Study To Become A Marketing Director?
Some of the strongest business schools in the world are located in the USA. According to the Top Universities ranking, 4 of the top 10 universities in the world are in America. For example, the University of South Carolina offers to study marketing in the context of an MBA program. This will allow you to master management skills and apply for a leadership position immediately after graduation.
If you have already decided in which area you would like to work, then it is better to study marketing immediately in a specific area. Or take postgraduate programs that will help you learn the specifics of promoting goods in this industry.