Is your marketing budget a black hole, with little to show for your investment? Perhaps your in-house team is overwhelmed, lacking the strategic vision to drive real growth. If so, it’s time to consider an outsourced CMO. These seasoned marketing executives offer a cost-effective alternative to hiring a full-time Chief Marketing Officer, bringing a wealth of expertise and a laser-focus on results to your business.
Let’s explore the signs that you’re ready for a fractional CMO and how they can transform your marketing from a cost center to a revenue engine.
24 Signs It’s Time to Consider Hiring an Outsourced CMO:
- Hit a Revenue Plateau: Your growth has stalled, and you need fresh ideas to break through.
- Experienced Failed Launches: Previous product or campaign launches haven’t met expectations.
- Sick of Guessing: You’re tired of throwing spaghetti at the wall and hoping something sticks.
- Want to Accelerate Growth: You’re ready to take your business to the next level.
- Can’t Reach Target Market: You’re struggling to connect with your ideal customers.
- Commoditization/Lost in Pricing Wars: Your product or service has become a commodity, and you’re losing out to competitors on price.
- Losing to Unworthy Competitors: You know your offering is superior, but the market doesn’t seem to agree.
- No ROI on Marketing: Your marketing efforts aren’t delivering a return on investment.
- Lack of Clear Marketing Strategy: You don’t have a well-defined marketing plan or direction.
- No Marketing Team: You lack the in-house resources to execute a comprehensive marketing strategy.
- No Predictable Sales Pipeline: Your lead flow is inconsistent and unpredictable.
- Low Quality Leads: Your leads aren’t converting into customers.
- Need for Team Direction: Your existing marketing team needs strategic guidance and leadership.
- Sales and Marketing Misalignment: Your sales and marketing teams aren’t working together effectively.
- Expanding into New Markets: You’re entering new markets and need a strategic approach.
- Want to be More Data-Oriented: You want to make data-driven decisions to optimize your marketing efforts.
- Not Sure What to Do: You’re feeling overwhelmed and need expert guidance.
- Increasing Valuation Before Selling: You want to boost your company’s value before selling or seeking investment.
- Acquisition Strategy: You’re considering acquiring another company and need help with the marketing integration.
- Improving Internal Communications and Employer Brand: You want to enhance your company culture and attract top talent.
- Complex Sales Cycle: Your sales process is lengthy and involves multiple stakeholders.
- New to Digital Marketing: You want to leverage digital channels but don’t know where to start.
- Not Enough Revenue for Full-Time CMO: You need C-level expertise but can’t afford to pay a full-time salary.
- Product Aging Out of the Market: You need to innovate and revitalize your product or service.
If you identify with one or more of these scenarios, it’s a strong indicator that it’s time to consider hiring an outsourced CMO.
What Does an Outsourced CMO Do?
A fractional or part-time CMO is not just a consultant or a hired gun. They become an integral part of your team, providing strategic direction, leadership, and expertise to drive your marketing and overall business growth.
“They need to be providing clarity, prioritization, and clear and measurable impact on revenue.” – Daisy McCarty
They bring order to chaos, answer your burning questions, build a sustainable marketing system, and elevate the skills and performance of your entire team. They also act as a revenue advocate, relentlessly focused on driving results and maximizing ROI.
Learn more in our deep dive episode on hiring an outsourced CMO.
Three Ways to Work with an Outsourced CMO
- Do It For You (DIFY): The CMO and their team take on the entire marketing function, from strategy to execution.
- Do It With You (DIWY): The CMO supplements and directs your existing internal marketing team.
- Do It Yourself (DIY): The CMO provides one-on-one coaching and strategic guidance, empowering you to execute your marketing initiatives.
The ideal approach for your business will depend on your specific needs, budget, and available resources.
A Fractional CMO Can Help You:
- Create a brand messaging playbook.
- Build and implement a marketing plan and execution roadmap.
- Grow and nurture your email list.
- Track and review marketing data to optimize your strategy.
- Prioritize initiatives and allocate resources effectively.
- Accelerate revenue growth and improve profitability.
- Hire and manage internal or freelance marketing staff.
- Build and manage a marketing budget.
- Develop and execute paid marketing campaigns.
- Create a robust SEO strategy.
- Align sales and marketing processes for maximum impact.
- Train and mentor your existing marketing team.
How to Select and Hire an Outsourced CMO
Choosing the right outsourced CMO is a critical decision that can significantly impact your business’s success. Here are some key factors to consider:
- B2B vs. B2C Experience: Ensure the CMO has relevant experience in the B2B space, as the strategies and tactics differ significantly from B2C marketing.
“If you’re talking to an outsourced CMO and you’re wondering if they’re a right fit for a B2B company, you need to be asking them specific questions about revenue outcomes, about sales outcomes, about where they think their responsibility ends in the transition from Marketing to Sales.” – Daisy McCarty
- Industry Expertise: While not essential, familiarity with your industry can be an advantage. However, a CMO with strong strategic skills and a proven track record in B2B can quickly adapt and learn the nuances of your specific market.
- Focus Area: Consider whether you need a CMO who specializes in operational efficiency, brand building, or sales enablement. Choose someone whose strengths align with your company’s most pressing needs.
- Personality Fit: Ensure the CMO is a good cultural fit for your organization and that you can build a strong working relationship.
Best Practices for CMO Outsourcing
To get the most out of your outsourced CMO, follow these best practices:
- Trust the Process: Grant your CMO the autonomy to develop and execute a comprehensive marketing strategy.
- Ask About Timelines: Establish clear timelines and expectations for deliverables.
- Ask Lots of Questions: Proactively seek clarification on any aspect of the strategy or execution.
- Data and Rationale: Ensure the CMO uses data to inform decisions and can clearly explain their rationale.
- Focus on Systems: Look for a CMO who is focused on building a sustainable marketing system, not just solving short-term problems.
By following these guidelines, you can establish a productive and mutually beneficial partnership with your outsourced CMO, leading to increased brand awareness, accelerated growth, and a stronger bottom line.
Hiring an Outsourced CMO From The Marketing Blender
At The Marketing Blender, we work with B2B companies across the country who are looking to meet their marketing challenges head-on. Whether you’re looking to accelerate revenue growth, get strategic clarity and messaging, or improve ROI on marketing spend, we’d love to help.
Get more information on our fractional CMO services or check out our additional resources:
