Key Takeaways From The CMO Compensation Report

Professional services marketing online digital strategy

The chief marketing officers (CMO’s) who receive the highest pay are those who have managed to advance and transform the performance of a company’s digital marketing strategies, Marketing Week reports.

A new survey, undertaken by the CMO Council and titled the “CMO Compensation Report” questioned 345 marketing professionals from around the world. The survey found that over 50% of marketing executives who managed to improve the “digital marketing and online customer engagement capabilities” of their company earned more than average, which was measured to be around $200,000.

Donovan Neale-May, the executive director of the CMO Council, noted that with the ever increasing popularity of digital, if a CMO wants to see an improvement made to their salary they should focus on improving the digital marketing capabilities of a business. In fact, big data was used by a number of the top CMO’s to help companies’ measure customer analytics and gain valuable insights into certain campaigns.

More than 60% of the CMO’s who introduced a way of measuring the performance of digital marketing strategies, using data to prove ROI on content, websites and campaigns, for example, earned more than the $200,000 average salary.

Networking with executives from other areas, such as chief finance officers and chief information officers, also meant CMO’s could expect a higher-than-average salary, with more than 52% of those who “formed an alliance” with such figures being amongst the highest paid.

An article in Forbes notes that CMO’s tend to make between $100,000 and $350,000 in base compensation, however these figures are directly related to the size of a business. In order to reach the highest salary possible, CMO’s need to focus on reforming the marketing strategies of a business and growing its digital capabilities.