As a smart business owner, you know how important marketing is to your business’s success. You have a variety of options to market your business, and most businesses are doing at least a few things to ensure their message is out there. Unfortunately, there’s one thing many entrepreneurs are missing: the benefits of outsourcing marketing through the use of a CMO. When you hire a CMO, you not only take marketing off your busy plate, but you also increase ROI and ensure targeted integration. Sound good? Read on!
The Way Most Small Businesses Do Marketing
The likelihood is that you own or work in a small business. How do you define “small business”? The Small Business Administration has a number of definitions, which are delineated by industry. A small business could generate from $50,000 a year to up to $25 million. And it could be a solo-run company or have hundreds of employees. Suffice to say that most companies in the US are considered small. And the vast majority of small business is really small—with as few as a handful of employees and up to $5 million in annual revenue. If this is your business, you’re probably handling most of your marketing yourself because you don’t have an onsite team of people to help.
This is the way it usually works: You, as the business owner, hire a variety of vendors to implement marketing tactics for you. You might have one company for SEO, one for social media marketing, one for blogging and content, and another for paid advertising. You might also be dealing with advertising through magazines or be partnered with a public relations firm to secure media opportunities.
All of these are great things to have in your marketing toolbox.
But one question: Who’s defining your marketing strategy and supervising and coordinating all of these vendors? If it’s you, it might be time to consider the benefits of outsourcing marketing.
The Role of a CMO
Large companies have a C-suite of lead employees. These include CEO, COO, CTO or CIO, CFO, and CMO. A CMO is a chief marketing officer. In those larger, enterprise-level operations, the CMO is defining the marketing strategy and working closely with the other C-level team as well as a board of directors, in many cases. The CMO also oversees a team of implementers, which can range in numbers depending on the company.
If you’re large enough to have an onsite, full-time CMO, you’re probably spending $150,000+ a year in salary and benefits for that individual. And that, of course, doesn’t include the team of implementers. Typically, the people on an in-house marketing team can include all of those vendors your small business has been hiring: graphic designer, website designer, SEO and digital marketing specialists, media planners and buyers, advertising executives, content creators, and social media managers. Your investment in that team is dependent on whether those individuals are part time, full time, or contract. But no matter how you do it, you’re likely looking at $200,000 a year or more.
The Benefits of Outsourcing Marketing to a CMO: It’s Cost Effective
Now that you’ve nearly had a heart attack at the expense associated with marketing, take a breath. It doesn’t have to be that way. If you’re an IBM or Coca-Cola, you have the millions of dollars to support a robust marketing and advertising team. But let’s face it, if you’re reading this blog, you’re likely not running an enterprise-level company. You’re a small business. And you have a small-business budget.
There’s good news. You can enjoy the benefits of outsourcing marketing by hiring a CMO firm to manage your marketing on a part-time basis.
Some companies refer to this outsourced marketing as fractional CMO. In this model, you get all of the support of a full-time CMO on a fractional, or part-time, basis. Even better is when the CMO brings with them a team. Now you don’t have to pay all of those different vendors; instead, you pay one firm to create the strategy and implement the tactics. Winning!
Let’s say that you have your own team, though—and you want to keep them. That’s okay; a CMO can work with your existing team. Typically, you’ll just end up paying a percentage above and beyond what you pay your team to manage the implementation. You still get all of the strategy, one point person, and a focus on your business without getting rid of any of the team members you love. How awesome is that?
The Benefits of Outsourcing Marketing to a CMO: It’s Integrated
Still not sure that hiring a CMO is for you? After all, why pay for something when you already have vendors, right? Let’s look at a hard example of the benefits of outsourcing marketing by hiring a strategy lead.
As a successful business owner, you’re already sold on the idea of SEO. But your SEO company only does the optimization part; they don’t provide the blogs. So you hire a content-marketing firm to write blogs for you. But what if your SEO company doesn’t know that you have a blogger, and your blogger doesn’t know that you’re working with an SEO firm?
While pretty much all marketing needs to be integrated to be successful, it’s even more imperative when looking at SEO and content. Ideally, they are married and talking to each other daily. Blogs should feed the efforts of SEO and vice versa. But you’re a busy business professional. You don’t have time to create that strategy.
Enter your CMO.
Because one of the best benefits of outsourcing marketing is that your CMO defines and implements strategy, they’re going to be talking to SEO and blog folks (either internally or externally) to ensure everyone is on the same page.
And of course, that means your business will reap the rewards! Faster results? Yes! More ROI? Yes! And best of all: less work for you!
Get the Full Benefits of Outsourcing Marketing
Ink & Quill Communications IS an outsourced marketing firm. When you work with us, you get a dedicated CMO and a full team of strategists and tacticians. Our brain trust includes content, digital and traditional advertising, digital and traditional marketing, social media, graphic design, website design and development, SEO, and even print and promotional products. You need it; we have it. Plus, we provide everything at a static, manageable monthly budget that’s unique to you and your needs. That’s our Smartest-for-You Package, and it gives you everything you need to get marketing handled.
Curious if outsourced marketing and a CMO are the right fit for you? We’d love to chat. Schedule a brief 10-minute call to learn more.