COVID-19 has brought the value of marketing into focus, with many businesses having to rely on improvisational tactics and accelerate their digital efforts ad-lib to survive. At times like this, having an experienced marketing strategist to lean on is a huge advantage, but many SMEs don’t see it as an option.
Enter the outsourced CMO.
Many people think CMOs, or chief marketing officers, are reserved for big businesses. However, any business, in particular, small and growth businesses can benefit from having the ongoing expertise of a C-level marketing executive on their team.
Like a traditional CMO, an outsourced CMO is all about strategy. They don’t manage specific activities. Instead, their role is to plan, develop and execute data-led marketing initiatives to boost profits and ROI. At the same time, they work to foster a better, more integrated culture and drive ongoing competitive advantage.
To do this effectively, a CMO must strike the difficult balance between meeting both customer and business needs. If they only focus on the customer, they won’t get the attention within the leadership team. If they do the opposite, they won’t satisfy the market.
The key difference, and one of the main benefits of an outsourced CMO, compared to their in-house counterparts is that they don’t demand a full-time position or salary. Instead, they work as flexible ‘executives for hire’, engaged for their expertise as and when you need it – or on an ongoing retainer basis.
According to a recent survey, nearly half of Australian SMEs are looking to outsource existing in-house marketing roles to cut costs. With executives for hire working out around half the cost of employing in-house, an outsourced CMO can suit a smaller budget while delivering big strategy.
This is a question that often gets asked.
The reality is that any outsourced CMO worth their fee will make getting to know your business in-depth a priority. They’ll quickly absorb themselves into your day-to-day, get to know your customers, staff and culture, and internalise your goals. If they don’t, they won’t drive results – and without results, they can’t prove their worth.
Because they aren’t in your business, outsourced CMOs bring value in the form of fresh thinking, diverse knowledge and new ideas to the table. This comes from working with a wide range of clients – and being absorbed in the discipline.
As well as bringing innovative thinking, a virtual CMO also has access to the best marketing technology – from analytical reporting tools to automation. They have done the research, tried out all the tools, and can implement the right ones in your business to drive efficiencies for the best price.
If your business lacks expertise in a specific area, whether its website management, content creation, SEO, branding, advertising, or PR, outsourced CMOs also come well-connected. After putting the strategy in place, they have a team of vetted experts they can bring in to help deliver the results you need.
If you want a business partner who can create and push your company’s vision with data-driven marketing strategies, build the right team, and help you navigate today’s complex marketing environment, on an affordable budget, an outsourced CMO might be the best investment you can make right now.
To arrange an initial 15 minute introductory chat, please book via the bubble on the right hand side of the website, or by filling in the contact form.
By Jacqui Daley, – Outsourced CMO and Managing Director
The Measured Marketer
Jacqui is a Chief Marketing Officer with over 17 years’ experience driving strategy, change, and return on investment for SMEs and the public sector. Jacqui is the founder and managing director of The Measured Marketer Pty Ltd (TMM), a strategic digital marketing consultancy based in Newcastle. She is on the Hunter Manufacturing Awards Board of Directors and the Hunter Defence Taskforce. This year, Jacqui is a national finalist in the Australian Marketing Institute Marketing Excellence Awards for Chief Marketing Officer of the Year, 2020.