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3 Keys to Hiring a Successful Chief Marketing Officer

CMOCompanies are starting to see the value in hiring senior marketing leadership to help increase the success and growth of their businesses. In fact, 71% of Fortune 500 companies currently have a Chief Marketing Officer(CMO).

The CMO role has become increasingly impactful and there can be some confusion about how the role is defined, what qualities the candidate needs to have, and how to make it work financially. Keep reading to learn 3 tips that will help you hire a successful CMO for your company.

Provide a Clear Job Description and Expectations

The job description for a Chief Marketing Officer is going to vary for different companies depending on the company’s specific objectives and goals. For example, one company may need a strong creative direction while another company may need a CMO with analytical skills. You first need to figure out where you want to improve and what skills are crucial to achieving your overall goals. Also, when you make the job description and objectives clear to candidates in the beginning, then it minimizes any potential miscommunication about what is expected of them in the future. Having a CMO who fits your needs and is in line with your goals will help increase the success of the business and their tenure.

Digital Qualities

It’s not enough for CMO candidates to be aware of the latest technologies, they also need to be aware of emerging trends and where technology is headed in the future. Part of knowing about these trends is having technical abilities themselves. Ask candidates if they have any experience coding or developing applications, using data to make strategic decisions, and how they keep up with the latest trends. Not every CMO candidate needs to have developed an app or built a website, but they should be familiar with the concepts. As business continues to rely heavily on technology, it will be crucial for the CMO to become technically savvy themselves or risk falling behind.

On-Demand Talent

Many companies need the strategic skills and experience of a CMO, but few companies have the funds to pay the high salary costs. According to glassdoor.com, the median salary for CMOs is currently $330,000 per year while some highly paid CMOs may make over $470,000. One way to get past these high salary costs and avoid the risk of turnover is to hire CMOs on a contract basis. For example, you can hire a CMO to work for only one day a week to help with strategy and marketing direction. This option is ideal for companies hiring their first CMOs and wants to get an idea of what senior marketing leadership can do for their business.

Hiring top marketing leadership can transform your business and hiring a candidate who fits your description and who has the right skills will help them be more successful.

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