Generally speaking, Small & Medium enterprises (SME’s) can’t afford to employ Chief [anything] Officer. Typically, the Managing Director / Owner, who sometimes title himself/herself as CEO, is very lonely in the C Suite. Such businesses employ the services of an accounting firm to manage finances, a legal firm for legal work, etc. however, In the marketing space, businesses typically use various agencies to perform various tactical duties, and use an internal resource (young and inexpensive) to manage those relationships and tactical work. Sometimes there will be a marketing agency who oversee all that tactical work, handling bits and pieces of promotional work, branding, social media, websites and optimisation etc. What’s missing, is an experienced, strategic marketer (such as the qualified Lawyer or Accountant), acting as an outsourced CMO, drive strategy and manage the tactical execution, and be responsible and accountable for the work of the marketing function within the business.
If you’re unsure, here’s what a senior, part time CMO can bring to a Small / Medium size business:
- Corporate level overall marketing expertise – Client acquisition, retention and expansion strategies and tactics, Pricing, Promotions, targeting, product / services mix, etc.
- Strategic experience – help define / refine the business marketing strategy
- Free up MD/CEO time to manage the business.
- Tell the forest from the trees – as a strategic advisor to the business, the CMO can bring the most appropriate service providers, and orchestrate activities.
- Responsible executive to handle budgets and P/L.
- Contacts – both high-level and suppliers. This is often an overlooked benefit, but most marketers will have a sizeable network.
- Fresh eyes – an outsourced CMO would typically work with a variety of businesses, and can outsmart the competition by using tactics used by other industries.
Over the past 2-3 decades, businesses have brought in external experts to drive certain functions of the business. Those service providers (Lawyers, Accountants, HR / Recruitment executives, amongst others) have shown tremendous value to smaller businesses on a part time basis.
Now is the time to bring a Marketing Director on a Part Time basis, to help propel your business to the next level!