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:
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.
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.
We Have a Solution: The Outsourced CMO
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.