What is an outsourced CMO?
An outsourced CMO is a chief marketing officer who works with a company on a contractual basis for 10 to 40 hours a month. Outsourcing provides organizations with the financial advantage of obtaining top-level talent to guide and support their marketing, without the cost of having a full-time CMO.
An outsourced CMO is a crucial member of the company's executive team who is responsible for assisting the CEO and board of directors in achieving their objectives. They must have extensive knowledge of all aspects of advertising, including branding, lead generation, and various social media channels. They should also be capable of handling paid media campaigns, such as Facebook and Google Ads, as well as print ads, radio, and TV commercials. Their versatility and expertise make them an essential asset to any organization looking to improve their marketing efforts.
Why hire an outsourced CMO?
If your company is rapidly expanding, you may need the services of an Outsourced CMO to oversee marketing initiatives. Hiring an Outsourced CMO can help you understand your company's position, potential for growth, and focus your marketing and sales efforts. A full-time CMO may be necessary if your management team requires a CMO to work 40 hours per week. However, if you want the services of a marketing strategist and leader without requiring them to work full-time, an Outsourced CMO is a good option. Companies with annual revenues from $1 million to $50 million often benefit from hiring an Outsourced CMO to deploy a comprehensive go-to market strategy.
How does an outsourced CMO help?
To achieve ambitious business goals, it's important to have the right team in place. An Outsourced CMO can provide strategic marketing leadership by understanding your company's assets, including customer lists and marketing materials. They can also bring in and manage the right people to achieve goals. While in-house marketing is generally preferred in the long term, there are situations where outside suppliers or agencies can be helpful. An Outsourced CMO can take full responsibility and accountability for the marketing department's outcomes, making them a valuable asset to your business.
How does this CMO support my marketing?
An Outsourced CMO provides strategic leadership to complement your existing marketing team. This allows your team to focus on achieving long-term outcomes rather than wondering what to do each day. The Outsourced CMO also provides support and guidance to the organization, freeing up the CEO or others to focus on other areas. The goal is to grow the marketing team's capabilities and capacity, and to make recommendations or even fire underperforming team members to achieve business outcomes.