How a Virtual CMO Can Grow Your Business
If you’re searching for a chief marketing officer, hiring a traditional CMO is not the only option available to you. As an alternative, perhaps it’s time for your business to consider working with a virtual CMO (also called a Fractional CMO), especially if you run a small company. While an in-house CMO is entirely responsible for overseeing and implementing your marketing strategies, a virtual CMO can help you manage a variety of marketing tasks such as designing and executing campaigns, without the need to hire full-time staff.
Furthermore, a CMO may only possess specific industry knowledge, whereas, a fractional CMO has an exceptionally diverse background of expertise across several media, including social media, public relations, and more. As a result, this can create a greater opportunity for you to take on more professionals in other important areas of your company and ultimately helping it grow and succeed.
Reasons Your Business Needs a Virtual CMO / Fractional CMO
Contrary to popular belief, having a full-time employee is not necessarily required to effectively manage your marketing campaigns and initiatives. Here is a look at why making the small switch to working with a virtual CMO can have a big impact on your bottom line:
- Save You Money: For most businesses, marketing takes up a vast amount of resources. After all, how well you market your products can ultimately determine how successful your company becomes. Not only are marketing campaigns expensive to run, but an in-house CMO also comes at a hefty price. A qualified CMO can cost your business anywhere from $100,000 up to $150,000 a year, not including additional benefits and business perks. By outsourcing a virtual CMO, you could cut this expense by half or more.
- Elevates Product: One of the most common fears amongst executives is the idea that products will be downgraded due to the absence of a physical marketing department. However, the outside perspective of a virtual CMO can offer an unbiased assessment and as a result, give your product the boost it needs.
- Broaden Your Network: While having an in-house CMO comes with many benefits, their knowledge is often limited to a specific industry or outreach. For instance, if your company introduces a product and would like to target a different audience or use another marketing platform, a CMO may not be able to effectively lead your team in this new direction. By working with a fractional CMO, your talent pool extends past your physical area, so you gain exposure to a wider range of expertise.
- Deliver Consistent Results: Consistency is the key to a successful marketing plan. Isolated campaigns that are executed over the course of a few months are ineffective and will not yield the results you desire. In reality, the focus and commitment of a single marketing leader is divided amongst multiple tasks. Therefore, he or she may not have the time or resources to deliver the expected results for a particular product. On the other hand, the priority for an outside team will always be to provide your business with marketing and PR strategies that present continual results.
Today, an increasingly digital workplace calls for you to make investments beyond the four walls of your office. If you have ever felt as though you excelled at the operations and systems aspect of business but struggled with marketing, you have come to the right place. At eMedia Technologies Inc., we can help you overcome a number of challenges related to your business by providing digital solutions that will increase your lead generation and sales performance. As a valued client, you can trust that you will benefit from our nearly two decades of experience in the industry and see results that reflect positively on your business.