How To Become a Vice President of Marketing: Step-by-Step Guide
Learn about the steps important to pursuing a career as a vice president of marketing, including education, skills, salary and more.
The vice president of marketing is responsible for the planning, development and execution of marketing strategies for their company. They work with other members of the executive team to develop long-term plans and objectives. If you are interested in becoming a vice president of marketing, it is important to have a solid understanding of what this position entails. In this article, we discuss the duties of a vice president of marketing, the necessary skills and experience, and the steps to take to pursue this career path.
What Does a Vice President of Marketing Do?
The vice president of marketing is responsible for the planning, development and execution of an organization’s marketing and advertising initiatives. They work closely with other members of the executive team to ensure that all marketing goals are aligned with the overall business strategy. The vice president of marketing is also responsible for overseeing the marketing budget and ensuring that all marketing activities are within the allocated budget.
Some of the specific duties of the vice president of marketing include:
- Developing and implementing marketing plans and strategies
- Managing the marketing budget
- Overseeing the development and execution of marketing campaigns
- Supervising the marketing team
- Conducting market research
- Identifying new marketing opportunities
- Analyzing marketing data
- Creating reports on marketing activity
- Presenting findings to the executive team
- Negotiating contracts with vendors and suppliers
Vice President of Marketing Salary and Job Outlook
The average salary for a Vice President of Marketing is $169,950. This figure can vary based on the level of experience, education, industry and geographical location of the Vice President.
The Bureau of Labor Statistics expects job prospects for marketing managers to increase at a faster than average rate over the next decade. This is due in part to the growing importance of digital marketing and the need for companies to have someone at the helm who understands how to leverage this ever-changing landscape. As more companies enter the market and competition increases, the demand for qualified marketing managers will continue to rise.
How to Become a Vice President of Marketing
Here are several steps you should take to become a vice president of marketing.
1. Earn a bachelor’s degree in marketing, business administration or a related field
A bachelor’s degree is the minimum education requirement for most marketing roles. A degree in marketing or business administration provides you with the foundational knowledge and skills needed to succeed in a marketing role. Coursework may include principles of marketing, advertising, sales management, consumer behavior, data analytics and more.
Some employers also prefer candidates who have earned their degrees from accredited institutions. Accreditation ensures that an institution meets certain standards set by independent organizations.
2. Gain experience in marketing and sales roles
Entry-level marketing roles can provide you with valuable experience and skills that you can use in a vice president role. Consider working as an assistant account executive, sales representative or other entry-level position in the field to learn about how companies develop and implement marketing strategies.
You may also consider internships at your alma mater or another university where you can gain hands-on experience in marketing. You can also work in customer service or sales roles to understand how customers interact with products and services offered by a company.
3. Develop strong leadership skills
As you advance in your career, you may need to supervise other employees and manage projects. To do this successfully, you should develop strong leadership skills. Leadership training can help you learn how to motivate your team members and delegate tasks effectively. You should also practice giving presentations and delivering speeches so that you’re prepared for any meetings or conferences you attend as a marketing professional.
4. Understand the principles of marketing and advertising
Marketing is a complex field that involves many different aspects. To become a vice president of marketing, you should have a strong understanding of the principles behind this industry. Understanding how companies create and promote products to consumers can help you make informed decisions when working in this role.
You may want to take courses on marketing or read books about this subject to gain a better understanding of the industry. You can also learn more by reading trade publications and staying up to date on current events in the marketing world.
5. Stay up to date on changes in the marketing industry
The marketing industry is always changing, and it’s important for vice presidents of marketing to stay up to date on the latest trends. For example, social media has become a major platform for companies to promote their products and services, so you should be familiar with how to use these platforms effectively.
You also need to know about new developments in your field. For instance, if you work at a company that sells physical goods, you should know about e-commerce and online sales.
6. Join professional organizations such as the American Marketing Association
The American Marketing Association (AMA) is a professional organization that provides networking opportunities and training for marketing professionals. You can join the AMA as an individual member or through your employer. Through the AMA, you can attend conferences and seminars to learn about trends in the marketing industry and build your network of contacts. The AMA also offers certifications for those interested in pursuing a career in digital marketing.
7. Consider getting a master’s degree in business administration (MBA) with a concentration in marketing
While a master’s degree in marketing is not required for most vice president of marketing positions, having an MBA with a concentration in marketing can help you advance your career. An MBA program provides you with the business knowledge and skills to work in leadership roles in addition to providing you with advanced marketing training.
You may also consider pursuing an executive MBA (EMBA) if you are interested in becoming a CEO or C-level executive. An EMBA typically takes one to two years to complete and focuses on developing leadership skills as well as providing you with more advanced training in areas such as finance and strategy.
