What exactly is an Outsourced CMO and what does it mean to the company?
Well, an Outsourced CMO can be defined as a senior marketing executive working for a specific company on a contract basis, often between ten to forty hours a week. An outsourcer who is not working for your company full-time, but instead is working for a contracted task, and the company benefits from the economies of scale with both the quality of the product delivered and the quantity of labor employed.
So what are the benefits?
The most obvious benefit of hiring an outsourced CMO is the company saves money.
This is the direct result of the economies of scale created by outsourcing. By eliminating the need to provide benefits, training, and health benefits for your in-house workforce, you’re free to cut costs and increase profits. In addition, by hiring a fractional marketing leader, you eliminate the headaches of maintaining separate payroll departments, accounting, and human resources departments. A fractional marketing leadership company will handle these functions for you.
Another major benefit of outsourcing your marketing functions to a CMO is that you get the added benefit of getting highly qualified professionals.
Typically, when a company outsources its marketing functions, they hire entry-level employees who don’t have a lot of experience and don’t know the complexities of complex marketing strategies. A good marketing agency, by contrast, will help you hire experienced professionals, who have all the skills necessary to execute your outsourced CMO services. They will help you implement your marketing strategy and help you monitor the results of your marketing strategy, including the effectiveness of your media, your online advertising, and the response your new marketing tactics are generating.
The best part about hiring a CMO compared to hiring a traditional marketing agency is that the CMO will be managing your entire marketing strategy.
They won’t be responsible for creating your media, designing your online advertising, managing your website, tracking your analytics, responding to your customer calls, managing your budget, handling your direct mail campaign, handling your online promotions, or handling your general leads. These functions are typically reserved for the staff members of your company and can be time consuming and costly for small business owners. When you hire a fractional cmo, you get the full service marketing strategy that your company requires, and you pay a lower cost.
When you hire a CMO, you also get the added benefit of having a marketing team that’s available around the clock. With a part-time CMO, your marketing agency will handle your online advertising, your social media marketing, your print marketing, and your print advertisements. Because the CMO has a large staff available that works with your company on a rotating basis as needed, you don’t have to worry about spending your valuable time managing your marketing campaign.
Another advantage that the CMO gives you over hiring an in-house who is that your online campaigns are more successful when your CMO handles them.
It’s been proven that when a marketing strategy is handled by an independent third-party, it oftentimes fails to bring you the desired results that you were expecting. The reason for this is because the outsourced who has put together an effective plan for marketing your business online. The team has access to the latest technology and tools, and they know which strategies work best for your business. This means that you won’t have to waste your time developing your own marketing strategy, because the CMO will already have developed it.
When you hire an outsourced CMO, you will also benefit from the fact that they’ll be able to provide your marketing strategy on a full-time basis.
If you were to do this on your own, you would need to hire and train additional staff to handle your in-house staff, which is an added expense that you can’t afford. On the other hand, if you outsource your marketing activities to a third-party, you won’t have to bother with training, since they’ll take care of it for you.
Outsourced CMO companies also use cutting-edge Internet and online technology to increase conversion rates, such as pay-per-click management, content-optimization, social media marketing, and so forth. This is why when you hire them, you’re getting some of the most cutting-edge marketing technologies out there today. The result is that you’ll have access to all sorts of online marketing techniques that your competitors aren’t using. You’ll also be able to save money for business, since the CMO team will be handling everything on your behalf. In addition, if you get a good CMO, they may be able to integrate your website with their own, so you don’t have to learn any new skills. Outsourcing your marketing to the CMO industry is one of the best ways for any business to enhance its online presence and attract more customers.