For many years, high growth, startups, and transforming companies are using on-demand or outsourced executive services to manage their different business-related operations. These are finance and accounting, human resources, payroll and hardware, and software systems. Today, businesses have also started applying the same on-demand or outsourced model to marketing expertise and knowledge. Accordingly, companies have started approaching Fractional CMO to handle CMO-level involvement in the company without incurring the costs related to any full-time headcount.
Companies/Professionals Need Part-time CMO Services
- Companies or business organizations looking for an executive-level of perspective, guidance, and leadership for their already existing marketing team.
- Companies planning to hire professionals to play CMO roles i.e. to deal with each of the aspects under any on-going marketing activities.
- CMOS and CEOs of the sales and marketing department like to get an outside perspective on their existing business activities and on-going market strategies and/or tactics.
Hiring Fractional Chief Marketing Officer Offers On-demand Perspective
Other than providing an affordable solution, hiring any fractional chief marketing officer provides the best practices prevailing in the marketing sector for the success of any business. These are sales pipeline development, customer acquisition and execution of marketing activities. In other words, any Outsource CMO professional works with companies/clients to meet the marketing objectives of a company or a business venture.
Key Roles of Outsourced Chief Marketing Officers
Fractional CMO does everything related to the identification of strategic elements to tactfully executing them. Major roles performed by any CMO are-
1. Identifying Target Markets, Prospects, and Buyers
Chief Marketing Officers perform detailed analysis to identify opportunities prevailing in the market or search for prospects. Once they succeed to identify a specific target market or group of prospects, they put different promotional strategies to convert prospects into permanent buyers. Besides, CMOs make sure to retain the already existing buyers of a company.
2. Content Strategy and its Execution
Many companies opt to outsource CMO to handle the content marketing strategy and its execution appropriately. Under this, any marketing expert messages or positions and map contents to the complete buying procedure. Moreover, marketing experts identify various optimal channels to approach the company’s target buyers; their various touchpoints and their specific buying decisions.
3. Execution of Sales Pipeline
Getting a sales pipeline is in the right place is an excellent starting point, companies have to execute it effectively via proper planning and forethought. Thus, businesses approach qualified and experienced chief marketing officers to execute any sales pipeline appropriately to drive sales. Especially, CMO makes sure that the stages included in any sales pipeline make sense for your operational sector and potential clients. For this, they analyze different factors in detail, such as-
- Numbers of sales deals and an average size of any deal in a sales pipeline
- The average percentage of closed deals i.e. the close ratio
- The average numbers of hours or sales velocity required to close any deal
Metrics and Measurement
Last, but not the least, outsourced chief marketing officers and other marketing personnel always take steps to establish and monitor the major performance metrics. These include the growth rate of sales leads, the cost in a single lead, and customer acquisition cost and lifetime value of customers.
To conclude, we should say that any fractional or outsourced CMO helps you in increasing the qualified sales lead flow, set up integrated marketing procedures and expand business at a faster rate.