A newly founded business costs loads of time and money.
And, as you’re holding for straws trying to keep the business together, Steve the junior marketer comes with a report showing a no-return ad investment for a sum which would keep the business floating for the next couple of months. I wouldn’t want to be you when this happens.
Recently, such a client came to us for assistance, and when I took a peek at how much money was going down the stupid marketing efforts drain, I stood up, casually strolled to the bathroom, peacefully locked the door… and cried myself to oblivion.
No, seriously, relying on Steves is the reason why most startups fail. Yes, I know you don’t have the money to hire a full-time experienced CMO.
But, have you heard about a part-time CMO?
Fractional Marketing Is Actually a Thing
Whatever old-school corporate big shots taught you, you need to forget it. Mark my words, part-time CMOs are a godsend for every business. And I’m not talking only about startups.
What Is a Part-Time CMO Anyway?
A part-time CMO (or Chief Marketing Officer) is a cost-effective end to your marketing problems.
These experts can oversee your in-house marketing team, contracted marketing teams, or your DIY marketing projects, then scrap them all and make such a bespoke marketing strategy that will change your life forever.
All jokes aside, a part-time CMO is, as the name suggests, a part-time basis expert which can help you with long-term growth and process optimization.
They will offer you a veteran-level marketing experience for a fraction of the cost of full-time employment. These hires are an outstanding idea for every startup and most mid-sized B2B and B2C businesses currently in existence.
Even large enterprises constantly hire outsourced CMOs for an outside view of their internal marketing efforts.
Is a Part-Time CMO Right For You?
So, let’s compare Steve the junior marketer with a bonafide interim CMO:
Cost
From a yearly perspective, you’ll have to pay a temporary CMO… wait for it… around the same amount, you pay Steve. And, this isn’t taking into account additional employment benefits and payroll costs.
So, when I say a part-time CMO is a cost-effective investment, I mean it.
Adaptability and Expertise
The last time Steve attempted to launch a paid ad, it almost ruined the business forever. This probably isn’t completely true, but there’s only that much an inexperienced junior marketer or team of marketers can do for you. After all, is as much as your budget can afford.
On the other hand, an outsourced Chief Marketing Officer possesses years’ worth of experience bringing results for businesses in most major industries, and be sure they can adapt to yours too.
Even if you have an in-house marketing team, you must remember that working with different people is the part-time CMO’s job description.
These people possess experience which would take years to get if they’ve worked a 9 to 5 job at the local startup. They are always in touch with experts in every digital marketing field, should the need for their help for a project arise.
The Perfect Person to Pick Habits From
This is especially true for businesses that have an in-house marketing team. Having a part-time CMO working with your team will definitely enable them to pick up some practices that can’t be found anywhere else.
Or, you can just hire a CMO for coaching. The right person at the right time can make all the difference in the world. A temporary CMO will motivate your in-house team, optimize their processes, and from it will arise an efficient marketing machine which brings exceptional results.
They will be the expert leader on your team, be it for a day, week, or longer. What matters is that they will teach your team how to predict results, create and implement great strategies, and not only that. A great CMO will teach them the pitfalls which might look tempting but are a money drain in the long run.
Sounds too Good to Be True?
The whole concept of part-time CMOs might sound too good to be true. In some cases, it is, in some, it isn’t. Many people present themselves as CMOs without having the necessary experience and know-how.
But, if you choose the right person, be sure that you’ll get much more than you paid for.
Additionally, a part-time CMO:
- Is ready to deliver the same day you hire them;
- Is always keeping up with the latest marketing trends;
- Has an entire team of CMOs in their close network on who they can rely on.
Keep this in mind.
Final Thoughts
Are temporary, or part-time CMOs the be-all and end-all to your marketing problems?
Probably.
Let me elaborate. An outsourced CMO level involvement can have multiple benefits, for each stage your business is in.
When as a startup, they can give you the necessary marketing guidance and train your team. When as a small business, they can work together with your team on creating and executing of marketing strategies. And, when as an enterprise, they can give you an out-of-the-box insight on things that even your veteran marketers might miss.
So, save yourself the trouble, and hire a part-time CMO today!
