Growth and Scaling: 5 Signs You Need an Outsourced CMO
Small and mid-sized companies (SMEs) usually operate without C-suite marketing leadership. SMEs typically don’t require in-house chief marketing officers because their promotions requirements are limited and often tied to restricted resources and budgets which may be driven directly by sales or another senior manager. However, when a company decides to scale up its operations, it has to create and execute a multifaceted marketing plan.
Managing any extensive marketing strategy is difficult, if not impossible, without a senior marketing executive at the helm. More than just sending an email or placing an ad, a complete strategy may encompass.
- the sales tools needed to properly sell your product,
- mapping processes and communication touches to assure the best customer experience
- message development to ensure you have a consistent voice across sales and marketing channels,
- optimization and success measurement to assure you are not only targeting and messaging correctly but getting the best bang for your buck.
All of these things may be necessary, but if your financial numbers don’t allow hiring someone at a full-time position, consider outsourcing the position of chief marketing officer on a fractional basis.
This senior, outsourced resource leads your in-house marketing team like any other senior executive of the company, but without the cost of a full C-suite individual — there wouldn’t be a benefits package, computers, or office space required. You just get a senior leader who can develop your strategy, implement your campaigns, and even manage your team. Some, like MarketBurst, have a full implementation team behind them to fill gaps in your organization or execute campaigns.
5 Signs You Might Need an Outsourced CMO
If you are in a bind and can’t decide whether you need a senior marketing executive on a short-term or part-time basis, check out the five reasons below, highlighting why you might need an outsourced chief marketing officer.
- There Is No Marketing Leader in the Company – If your marketing team is small, loosely coordinated, and works without a team lead, you may need to hire a fractional marketing leader. An outsourced CMO can reinvigorate your non-existent or dormant marketing department with their experience, creativity, and worldview.
If you want to keep up with changing times and compete with peers that have already undergone marketing transformation, you need a dedicated professional to lead your marketing department.
- Your Company Can’t Afford a Full-Time C-Suite Executive – If you are spearheading a startup and need someone to lead your marketing strategy but can’t afford a full-time senior executive, you should go for an outsourced CMO. The cost of getting a fractional CMO on board is better justified for a budding business working on a shoestring.
- Your Company Is Not Working with a Centralized Marketing and Branding Effort – If your sales team is also taking care of your marketing, chances are every member will do it their way. This will result in a confused and weakened marketing process. You can get around this issue by getting an outsourced CMO who can help consolidate all individual marketing efforts into one strong message.
- You Require an Interim CMO – You could be in the middle of searching and vetting for an in-house CMO. In this case, an outsourced CMO can fill in the exiting CMO’s shoes for the time being. Taking this step on time will ensure that the ongoing marketing strategy of the company continues to move along smoothly.
- You Need Marketing Insight for Crucial Decision-Making – Many times, companies follow a marketing trend without reviewing it properly. As a result, they end up spending a significant amount of resources with no guaranteed ROIs. An outsourced Chief Marketing Officer can help you identify your unique marketing needs irrespective of trends and fads. Their nuanced marketing insights help you in making sound decisions.
If you can identify with any of these five indicators, get in touch with the team at MarketBurst. We can provide your company with an outsourced CMO who will oversee the development of effective and integrated communication, marketing, and branding strategies.