Chief Product Officer
The role of a Chief Product Officer is now more important than ever, with customer expectations at an all-time high around digital applications and how they integrate into their daily lives.
If you are looking for a Chief Product Officer job role or would like to find out how to become a CPO, what skills you need, and what salaries are on offer, you will find a complete guide below.
If you’re an employer looking to recruit a Chief Product Officer, please see our product recruitment services page, and the full overview of our services to employers. If you need to hire and would like our services, contact us today.
We place over 100 CPO candidates within London based companies each year. With the rise of flexible working over the last 2 years, we are extending our recruitment services to candidates across the UK, Europe and North America.
There are many factors used to determine the Chief Product Officer salary and package expectations – size of business, industry, growth stage, product pipeline and company turnover – just to name a few.
We’d expect a salary between £130,000 – £300,000 with additional benefits such as private medical insurance, performance related bonuses and pension contributions as standard for this level of role,
Traditionally, those CPO’s working within London could expect a salary at the higher end of this scale, but with the rise in demand from candidates for flexible working, employers are tending to level out this playing field.
If an employer requires a CPO with specific niche experience and knowledge, the candidate will often be able to negotiate a salary at the higher end of this scale.
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Example Job Description
A typical Chief Product Officer job description will read something like the below:
The Chief Product Officer will have full end-to-end product ownership for a portfolio of 5-10 eCommerce, reward, and retail products. In this role the Chief Product Officer will be expected to formulate and execute on an ambitious product strategy which will ultimately achieve 10x growth, making it a multi-billion $ business.
The Chief Product Officer will:
- Ideate and execute the product strategy
- Create customer feedback loops and really dive into what they want/need
- Build a world class product team, including Heads of various product lines. Manage a team of UX and Product people
- Speak with investors, at conferences, forum and to the media and be seen to be the voice of the company where appropriate
- Work with the C-team to ensure the product delivers the company strategy
- Advise on acquisition strategy and integrate acquired product sets
- Build business cases for new product initiatives with a keen focus on market & opportunity sizing
The Chief Product Officer must have:
- Experience building and leading world class product teams
- Demonstrable experience of scaling a high growth B2B or B2B2C start-up
- Outstanding stakeholder & client management skills
- Gravitas and be comfortable working with ambiguity
- A sharp mind for growth, expansion and product enhancement
- Experience building APIs
- Knowledge of creating Prioritisation framework
Candidates with a combination of the above will be welcomed, as will applications from candidates with a Consulting background on the proviso they have real life delivery experience at Chief Product Officer level.
The successful candidate will be responsible for the delivery of the company’s commercial strategy, working across marketing, sales and customer teams to drive business growth.
Key roles for Chief Customer Officer:
- To develop and implement sales and marketing strategies, plans, forecasts and KPIs
- Sit on the senior management team and work cross-functionally to maximise outputs from business projects
- Develop strategies to be innovative in the market and win new customers to the business
- To manage customer relationships and measure customer satisfaction through customer insight programmes
- To oversee and evaluate market research and adjust the business strategy as required
- To manage and develop the sales, marketing and customer services teams and instil a culture of continuous improvement
- To generate new sales leads via a multichannel approach
- To meet measure and exceed performance results, within agreed budget. Actively analyse sales performances against quotes and plans to determine effectiveness
- Effectively manage and lead the sales, marketing and customer team to success
- To report to the company Directors and Board
- A strong, proven commercial background
- Proven ability to plan, implement and analysis performance results against objectives and KPIs
- Significant senior management and leadership experience.
- Demonstrable experience of managing operational performance within financial budgets.
- Proven ability to attract new sales and retain existing customers.
- Demonstrable personal leadership qualities
What are employers looking for?
Creating a job description is a difficult task for a product management role – each business will have different requirements depending on its size, how established the business is, the budget, and what product the business sells, from software, a service to a tangible product. Saying this, businesses looking to fill a CPO, are more than likely looking for evidence of experience including:
- Development and definition of a product vision and strategy, using customer research, industry insights, competitor analysis and understanding the latest technology advancements.
- Definition of the product roadmap, including lead times to market, budget, target performance indicators and employee project allocation.
- Cross functional team management. The product needs to be designed against customer needs, marketed to relevant customer groups to create warm leads for the sales department to close. All of this requires continuous cross department communication and synergy. A CPO needs to be able to bring their team together around the product vision, leading and coaching teams to success – without micromanaging.
- Product analysis. With the changeable market landscape, Chief Product Officers need to ensure their product stays relevant and consumer focused and never falling behind in the market.
- What is the role of a Chief Product Officer?
- The ultimate aim of a Chief Product Officer is to achieve business growth by constantly improving the businesses product offering against customer feedback. The CPO will need to define and develop the product vision, strategy and roadmap, ensuring their product always stays relevant in the market, and doesnt fall behind in customer expectations. Crucial to the success of the role is the ability to lead cross functional teams - delegating, leading and coaching their teams to success.
- What makes a good CPO?
- The biggest objective of a Chief Product Officer (CPO) is to ensure that the customer, sales and marketing teams are collaborating effectively, producing a customer centric product that ensures business growth through customer acquisition and retention.
- How much do CPOs make?
- A Chief Product Officer (CPO) can expect to make between £130,000 and £300,000 depending on the size of the business, its growth ambitions and the specific domain experience and specialism required within the role.