The Outsourced CMO - Power Digital

The
Outsourced CMO

Does your organization have only one person in charge of your marketing efforts? Has this person proven that they can scale multiple businesses in your industry?

Having a proven CMO (Chief Marketing Officer) running your marketing initiatives is great, and is 100% necessary for most businesses. However, it also often comes with years of recruiting and integrating … plus that $250K+ price tag.

Let us introduce you to the idea of the outsourced CMO. An outsourced CMO can do it all and impact your business growth very quickly.

Book a Consultation with
Your Potential CMO

What Can You Expect From an Outsourced CMO

Most companies know that marketing products and services is the most direct path from lackluster sales to stellar results. As a result, they may hire an in-house CMO, and although this may seem like a logical next step, it’s not always the most impactful. Why?

To fully understand the answer, it’s important to understand the major differences between a traditional in-house CMO and one that is outsourced. Let us explain.

The In-House CMO

The in-house CMO works directly for your company, and you pay them a salary. And if they’re really talented, that price tag may be pretty large. This person oversees all the planning, development and execution of a company’s marketing and advertising initiatives. They work to create strategies that generate revenue and boost sales, which may include many different areas, such as the following:

Pricing

A CMO develops strategies around the pricing of your products through an understanding of current market conditions, evaluating strategies of the largest competitors and strategic product positioning.

Product Marketing

A CMO creates strategies for the marketing of new and existing products.

Marketing Communications

A CMO develops the overarching strategies for all marketing communications outreach and materials.

Advertising

A CMO creates direction for advertising, including online, print, and social channels.

Public Relations

A CMO develops strategic direction for public relations efforts, which can include newer forms of outreach, such as influencer marketing.

Advertising

A CMO creates direction for advertising, including online, print, and social channels.

Public Relations

A CMO develops strategic direction for public relations efforts, which can include newer forms of outreach, such as influencer marketing.

The in-house CMO ensures that a company’s messaging is consistent throughout all the channels — and today, there are many different channels. He or she may also manage strategic direction for channels such as social media, video integration and mobile platforms.

As you can see, this a pretty large job and
requires the ability to integrate many different
moving parts and ensure they’re all working
seamlessly together. Not an easy task!

Most companies, however, are overlooking something important. There is an alternative to the traditional CMO, one that can scale with your business and includes much more: the outsourced CMO.

The Outsourced CMO

Outsourced CMOs do everything that an in-house person does, but they do much more. They can provide in-depth insights and strategic direction that can be applied to your specific business and generate even greater impact. Take a look.

Outsourced CMOs...

Problems Your Organization Is
Likely Facing Without a CMO

Some organizations don’t have a CMO in place, and handle marketing using a different infrastructure. Perhaps the organization is a startup that experienced fast growth and the CEO is acting as the CMO, which is getting overwhelming. Or perhaps a company has a marketing department, and maybe a marketing manager, but does not have anybody filling the “CMO” role. The ship might be running, but there may be critical leaks — and not all of them are obvious.

Do you want to know if your company truly needs a CMO? Check out these red flags in order to find out.

There is a lack of reporting and clear data available.

Data is the lifeblood of your organization because without it, you can’t get a clear picture of existing trends and next best steps. If you aren’t capturing critical data, this may be a sign that you need a CMO who is trained in not only extracting this data but also gleaning valuable insights that can transform your business.

Goals aren’t set becuase of a general lack of understanding.

Do you feel like you have a clear understanding of trends? If not, it’s difficult to set the right goals and, as a result, some companies don’t set goals at all. Without clear goals, marketers may deploy “shot in the dark” strategies that stem from not truly understanding the market.

Marketing feels like running on a “hamster wheel.”

Do you feel like you’re completing many activities but each returns little-to-no results? If so, you might be missing something on the strategic level — such as the careful and integrated planning of a CMO.

The company is falling behind competitors.

Every time you seem to gain on the competition, they pull ahead. If sustaining a competitive advantage feels difficult, having a CMO may be the ticket to turning things around. The right CMO partner will understand not only your marketing strategy but also the strategies of your major competitors. They will then use that knowledge to your advantage.

Launching marketing campaigns is slow and time-intensive.

The best marketing campaigns are nimble and can be modified at a moment’s notice — especially when you’re dealing with digital or online marketing efforts. Because when your customer’s demands change, so, too, should your marketing. If your marketing feels clunky or time consuming, it’s a red flag that it’s not operating as efficiently as it should.

Money is being wasted and campaigns are disappointing.

Have you ever launched a marketing campaign with high hopes, only to reach the 50-yard line and never make it to the end zone?
Executing a successful marketing campaign does not have to be hard, if you have the right team. A CMO partner has experience with the successful execution of marketing efforts and can spot pitfalls before they occur. It’s like having “cliff notes” to all your marketing efforts.

Not having a marketing leader who is focused only on the end game.

Every CMO should keep profit in mind — especially if lead generation and sales are the goals for a specific marketing campaign. But it’s also important to have a leader in place who can see the big picture and avoid trading out short-term success with long-term pitfalls. You must strike the right balance of profits and long-term results.

Lack of nurturing programs to increase the lifetime value of your clients.

Existing clients are the low-hanging fruit. So why do so many companies not capitalize on this opportunity? The answer is simple: They don’t have nurturing programs in place. Nurturing programs provide an efficient and effective method for increasing the lifetime value of each and every customer. When you continually nurture existing relationships, customers are more likely to trust your brand and continue buying in the future.

Limited sharing of information between marketing, sales, and operations.

All business leaders know that when departments work in silos, many opportunities are missed, especially when it comes to marketing, sales, and operations. Each has critical data that provides a distinct benefit to the other, but when that data is not shared, everyone misses out. The right partner can ensure that data is pollinated seamlessly between critical departments for maximum results.

We Have a Solution:
Outsourced CMO Profile

Having a CMO at a fraction of the cost sounds like a great idea. But let’s discuss the details of how outsourcing your CMO works, and the value he or she provides to your organization when compared with a traditional role. Here is a quick breakdown of what you can expect from an outsourced CMO.

Strong cross-channel knowledge.

You may have several different buyer personas, but not all buyers like to communicate with your company in the same way. Some may prefer social media, while others prefer brick-and-mortar interactions or a mobile experience. An outsourced CMO has a strong cross-channel knowledge and can ensure that regardless of how customers prefer to communicate, they will receive a consistent and effective message.

Strong business understanding and marketing analytics.

Timing is everything to customers today. You must deliver not only the right message, but it must be communicated at the right time. This creates those moments of serendipity when the customer feels truly known by your brand. An outsourced CMO understands how to create these serendipitous experiences at the exact moment of relevance.

Network of channel experts.

The CMO must generate an effective strategy and put together the right team to bring those concepts from idea to success. An outsourced CMO has a network of industry and channel experts such as copywriters, designers, ad experts, a technical SEO and many more to make each campaign a success.

Creates “bite-sized” goals.

A goal may seem overwhelming when first created, but a CMO partner can break down even the largest strategy into bite-sized pieces, so the team can understand what comes next. Each piece works together to create measurable and effective campaigns, without the risk of overwhelming staff.

Generates motivation and inspiration.

Even the most talented teams can perform terribly under poor leadership. In contrast, average teams can perform amazingly under excellent leadership. The point? Great marketing leaders are a must for success. They must keep marketing pros inspired and motivated from project start to finish.

The outsourced CMO provides all of the above perks, but what else do they bring to the table? Let’s discuss some major benefits of bringing an outsourced CMO into your business.

How an Outsourced CMO Benefits Your Business

The largest benefit to using an outsourced CMO is more revenue. And not just any revenue, but strategic revenue that will keep your business growing in the future! The benefits of partnering with an outsourced CMO include:

Is an Outsourced
CMO Right for You?

The benefits of an outsourced CMO are clear, but still, you may wonder, “Is an outsourced CMO right for our company?” Here is a quick checklist to determine whether it makes sense for your business.

    Is your revenue stagnant or declining?

    Do you see your competitors everywhere, but you’re having difficulty making headway in the market?

    Do you feel confused on your marketing plans and goals?

    Are you not receiving clear weekly executive summaries on marketing performance and how existing strategies are affecting your bottom line?

    Do you think that you’re spending money trying random initiatives that are not totally vetted or thought out?

    Do you find it difficult to recruit and manage another high-level executive? Perhaps you feel that you don’t have the time or the energy?

    Can your business not afford to bring on $400K+ a year in fixed costs to hire the necessary CMO and marketing staff?

If you said yes to any of these questions, outsourcing the CMO function may be a good option for your company.

Because when you create a partnership with a company that truly understands the traditional functions of a CMO and blends those with additional strategies, you don’t get just a traditional CMO — you get much more.

Plus, as your company grows (as it should with a CMO partner!), you continue getting access to the talent that you require with an infrastructure that scales.

Have questions about the benefits
of an outsourced CMO?

If so, we’re here to help. For more details, simply contact us or give us a call today!

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