How an Outsourced CMO Can Improve Your Business and Jumpstart Growth
The idea of businesses hiring an outsourced executive is not something new. In fact, we started this novel business practice for CMO and head of marketing roles in 2004 for SMBs across the United States. This practice has picked up momentum and grown significantly over the past several years. An Outsourced CMO, also referred to as a Fractional CMO, can bring a host of value and untapped potential to companies where a full-time marketing executive wouldn’t make sense – fiscally, financially, or even from a practical standpoint because the scope of challenges that need attention is often so great. In this blog, we will explore exactly what a Fractional CMO is and why they make sense for a business like yours.
What is a Fractional or Outsourced CMO?
Simply put, an Outsourced CMO is a C-level executive who provides far-reaching marketing leadership that focuses on defining a marketing strategy specific to a company’s needs. They then work to translate that into action and results while simultaneously managing, growing, and mentoring the company’s internal marketing department and driving sales growth. The CMO will also work alongside the other executives to help bring the CEO and board’s objectives and goals into reality.
The most magical part is that the Fractional CMO does all of this on a part-time basis, anywhere from 10 to 40 hours per month. Yes, you read that right, per month, NOT 40+ hours a week! And with a depth of knowledge and an arsenal full of proven processes and procedures that nearly implement themselves, an Outsourced CMO is a no-brainer.
In this vital marketing role, the Outsourced CMO will bring a thorough understanding of all aspects of marketing, ranging from branding and lead acquisition to paid marketing, content marketing, social media, television, radio and podcasting, public relations, and more. The Chief Marketing Officer also helps hire and train necessary support staff as needed in the marketing department and assists in realigning and implementing HR best practices to ultimately attract more apt talent, cultivate a positive and engaging workplace, and enhance performance as it relates to overarching business goals.
How will an Outsourced CMO integrate or enhance my in-house marketing department? A Fractional CMO does not replace your team. Instead, a part-time chief marketing executive will provide the strategic leadership to increase your marketing department’s effectiveness, growing their capabilities, capacity, and momentum. The Outsourced CMO will also hire additional marketing support as needed or fire talent that isn’t performing to standard.
Why Does a Business Like Yours Need to Hire a Fractional CMO?
The bottom line is that your business needs a part-time Chief Marketing Executive because, one, it is growing or trying to, and two, it needs the right expertise to lead the marketing strategy. In our experience, companies that make $1 million to $50 million annually tend to do well with an outsourced CMO, and here’s why.
Experience: Outsourcing this expertise allows you to access seasoned talent with diverse knowledge and experience. This person brings a broad understanding of the marketing landscape as well as industry best practices and is always in the know on emerging trends. They also bring a fresh perspective and innovative ideas by keeping your business adaptable to evolutionary market dynamics. We mentioned this before, but an Outsourced CMO also has a proven track record.
Cost-Effective: Hiring a full-time executive is a serious financial commitment that your company may not be able to afford. Outsourcing allows your business to harness top-level marketing leadership and expertise without the costs associated with recruitment, salary, benefits, onboarding, training, etc. In addition, CMOs tend to work on a contract or per-project basis, which provides flexibility in terms of resource allocation.
Scalability: A Fractional CMO can scale efforts based on a company’s specific needs, ranging from short-term projects to long-term marketing strategy and implementation. This flexibility will ensure that marketing efforts align with overarching business goals.
Cutting-Edge Tools and Technology: Technology is vital to marketing, period. Any top-tier marketing talent will be up to date on the latest marketing tools and platforms, which they can leverage to drive more effective marketing campaigns. In addition, marketers are constantly studying the latest trends and utilizing data to make informed decisions. What company wouldn’t want this advanced knowledge base and resource on their team? Companies that don’t have that expertise often find themselves burdened with heavily investing in one-off tools and programs without real know-how.
Objectivity: Part-time marketing leadership brings an unbiased position to the table. As a third party, they can assess the company’s specific marketing efforts objectively and quickly identify areas for improvement while also brainstorming and developing strategies based on a data-driven analysis. Their external position also allows them to provide honest feedback, pitch innovative ideas, and challenge the status quo, ultimately enhancing marketing outcomes.
An Impact You Can See and Feel
Effective marketing strategies and expertise are critical for organizational success and growth in today’s ever-evolving business landscape. An Outsourced CMO plays a pivotal role as the strategic marketing authority who deeply understands all the moving parts within your organization, from past marketing initiatives to the entirety of your team’s capacity, so they can build a comprehensive strategy that fits your business needs.
At Q2Mark, we have successfully grown over 100 brand leaders by providing proven strategy and tailored marketing communications to help scale, strengthen, and establish businesses of all sizes and industries. Let’s chat if you’re ready to discover what unbeatable business growth looks like for your company with a proven fractional CMO. Follow this link to schedule a free consultation.