Today, from 0 to 100 with the CMO , the unknown position
The Digital Marketing Director or Digital Marketing Manager is responsible for the strategy, development and execution of the company’s digital marketing strategy. His or her department typically consists of the following positions :
💼 Digital marketing manager
💼 Social media manager
💼 SEO specialist
💼 SEM specialist
💼 Content Marketing Specialist
💼 Email Marketing Specialist
💼 Marketing Automation Specialist
💼 Web Analytics Specialist
Then, in order to save costs, companies delegate the task of “finding out what the metaverse is all about” to one or more of these people. This is a huge mistake.
The person in charge is forced to turn to consultancies, friends, acquaintances, professional colleagues, at their own expense, instead of accepting that this figure has its application, is a specialist and, in the case of Web3, is in charge of an entire ecosystem that has nothing to do with the time and the way we have lived in the digital world so far. Perhaps he should be hired, even if he is outsourced as a freelancer.
The CMO is considered the senior executive responsible for the strategy, development and execution of a company’s metaverse strategy. The CMO is responsible for ensuring that the company maximises the potential of the Metaverse to achieve its business objectives.
Some of his or her responsibilities include:
📗 Developing and executing the company’s Metaverse strategy.
📗 Leading the company’s Metaverse team
📗 Work with other parts of the business to integrate the Metaverse into their operations.
📗 Forge partnerships with other companies and organisations to drive adoption of the Metaverse
📗 Communicate the company’s Metaverse strategy to employees, customers and stakeholders.
All of this may seem silly at first, but it is not. The problem is the use that has been made of the term ‘metaverse’, which has contaminated its projection, especially in business, creating mistrust, fear and toxicity. If we look away from the tree to see the forest, we will find that the Metaverse offers us solutions such as :
✅ WEB 3 Ecosystem ( more attractive and interactive ).
✅ Blockchain solutions ( transparency, efficiency, security )
✅ Mixed realities ( training, capacity building, prototyping… )
✅ Business Interoperability ( Companies can have more neutral and virtual meeting points, offering offshoring )
Metaverse Chiefs exist, but are not visible (FOR NOW)
The recent hoaxes, the fall of the Metaverse as a house of cards built on unfulfilled promises, in which Meta of course played its part, and the numerous scams in the ecosystem, have also highlighted the fact that although I can act as CMO, it is best to adopt another name or a slightly lateral position of it.
In order to do this, and to prevent third companies from being splashed or others with needs from fleeing from a service your company provides, you protect your official identity with terms such as :
📌 Senior Futurist
📌 Head of Innovation & Technology
📌 Chief Growth Cross-Meta Products & Infrastructure
📌 Head of Web 3
📌 Head of Virtual Environments
In one way or another, people like Marc Petit , Javier Olivan , Shawn Wang , Jason Rubin , Agustin Ferreira , Arthur Madrid are also Chief Metaverse Officer and yet it does not appear in their profiles. The role still lacks a clear and concise definition with a solid roadmap. It is subject to many changes in strategy and redirection of objectives.
We could say that it is a pilot position with great potential to be discovered, but it is also true that if the definition of the metaverse is not yet clear, we cannot fully clarify the CMO position and its usefulness in the short term.
I recently had the opportunity to meet with a developer from a technology consultancy. I asked him if his consultancy had a CMO, and they did. When I pressed him to find out more, his response was:
As a result, some companies have them because they are technologically advanced, while others prefer not to have them and not to innovate in this area, or to outsource the service altogether.
Overall, there is a higher concentration of Chief Metaverse Officers (CMOs) in the United States than in the Spanish-speaking world. This is due to a number of factors, including
🔰 Investment : The US is leading the way in investing in the Metaverse, with companies such as Meta, Microsoft and Google committing billions of dollars to its development. This has led to an increased demand for metaverse professionals, including CMOs.
🔰 Business culture : The US business culture is more entrepreneurial and risk-taking than many Spanish-speaking countries. This has led to more start-ups operating in the metaverse.
🔰 Access to finance : The United States has much easier access to finance than many Spanish-speaking countries. This has made it easier for metaverse startups to raise capital and grow.
According to a report by Gartner, there will be 2.7 million metaverse-related jobs worldwide by 2023. Of these, an estimated 1.5 million will be in the United States.
In conclusion, in addition to the investment of the big technology companies, we face two very important barriers: cultural and financial. This not only slows us down when it comes to hiring for new useful positions, perhaps because we are too cautious, but also when it comes to economic investment, where cutbacks, reduced and limited work teams, or even below what is necessary, forcing some positions to develop activities and tasks that are not part of their job, with the mythical phrase “here we all do everything”, added to the enormous wear and tear on teams when it comes to finding public and private funding, make this a cocktail of business insecurity and low interest in entrepreneurship.
In order of entrepreneurship, we find these data:
Spain ranks 24th in this ranking, with an early entrepreneurship rate of 10.30%. This means that in Spain 10.3 out of every 100 adults aged 18-64 are involved in starting a new business.
Compared to other EU countries, Spain is in the middle of the table.
The countries with the highest rates of early entrepreneurship in the EU are Sweden (15.70%), Finland (15.60%) and Ireland (15.40%).
If we talk about the salaries of an estimated Chief Metaverse Officer:
Meta: 150,000 $ per year.
Microsoft: 125,000 $ per year.
Google: 100,000 $ per year.
Telefónica: €60,000 per year.
Banco Santander: €50,000 per year.
🔱 I WANT TO BE CHIEF METAVERSE OFFICER 🔱
The CMO faces two major challenges as a worker:
On the one hand, we have a green, newborn profession with its ups and downs, and this can lead to job instability, underpinned by a short-term vision that may change or evolve. This means that the CMO is subject to change and constant evolution. Therefore, you need ADAPTABILITY, which means you need to show results, to prove your worth on an ongoing basis, so that the company sees that your job is really useful and not just decoration. In other words, you must be willing to work UNDER PRESSURE on a RESULTS BASIS.
On the other hand, you must be willing to work UNDER PRESSURE FOR RESULTS:
On a professional level, a Chief Metaverse Officer (CMO) should have the following characteristics:
📗 Digital marketing experience: You should have solid digital marketing experience, including SEO, SEM, content marketing and social media.
📗 Metaverse knowledge: A deep understanding of the metaverse, including its technologies, platforms and applications.
📗 Leadership: You will be an effective leader, able to manage a team and develop winning strategies.
📗 Innovation: A willingness to embrace new technologies and strategies.
On a personal level, a CMO should have the following characteristics:
🔸 Creativity: You must be creative and able to think outside the box.
🔸 Passion: You will be a nerd who is passionate about the metaverse and its potential to transform business.
In addition to these characteristics, a CMO must also have a strong sense of ethics and values, if not their own, then those of the company that chooses to bring them under its umbrella. ⚠️
What do you think of the CHIEF METAVERSE OFFICER (CMO)? ⚠️ I read your comments.