What Is a Virtual CMO? And 5 Great Reasons to Utilize One!
If your business has continued to grow over the years and you are struggling to keep up with your operations and maintain your marketing alone, you likely have thought about hiring a marketing coordinator or outsourcing your marketing to a firm. While this is one option, it may not be the most cost-efficient and could eat away at your budget without the proper precautions. However, by working with a Virtual CMO, you can be sure your marketing is in the right hands and only be charged for the time needed to perform specific duties.
For a small business looking for a Chief Marketing Officer, partnering with a Virtual CMO is like having a real CMO working for your business at a fraction of the cost. This can save you money on time, resources, money and, most importantly, your sanity. An effective Virtual CMO will have the ability to focus on running your business while new customer acquisition and more effective marketing is performed in the background.
Let’s face it. As a small business owner, you likely have a limited view of what marketing options could be effective for your business and they may even be specific to your unique understanding of your industry. When working with a Virtual CMO, you have access to potentially decades of marketing experience across many different industries and an outside perspective that you can utilize to further refine and improve your marketing.
Save Your Money
A traditional Chief Marketing Officer can cost a business, on average, up to $183,796 annually in salary, even without travel expenses or other benefits included. For most small businesses, this is an expense that they simply cannot afford. However, by partnering with a Virtual CMO, you are able to receive the same services at a fraction of the cost with no added benefits because your marketing is being outsourced.
When looking to outsource your marketing, you may feel limited to searching in your own geographic area. While this may be true with a traditional Chief Marketing Officer, a Virtual CMO can perform their duties from anywhere in the world. Not only does this expand your candidate pool, it allows you to find the perfect fit for your unique needs and explore a wider range of marketing expertise.
Working with an experienced Virtual CMO means that you will receive regular marketing updates that provide valuable insight into whether you are on the right path to achieving your marketing goals. With full transparency, you have the ability to make sure that your marketing is in great hands. And if it isn’t, you have the information needed to let them go and seek services elsewhere.
Hiring a Virtual CMO allows you to remain flexible in your marketing efforts and only focus on strategies that are actually working. If your budget changes throughout the year, you have the ability to adjust how much you are spending or stop services until needed. When you hire a traditional Chief Marketing Officer, you are stuck paying the same salary annually and are limited with replacement options if things go wrong.
There are many different facets to a successful marketing plan that require access to designers, writers and other experts. While you may not have direct access to these resources available currently, a Virtual CMO will have access to a large network of professionals in the industry. This expands your resources and ensures that your marketing remains as effective as possible.
With over two decades of in-the-trenches marketing experience, Matthew Maennche’s views on developing and supporting a successful business are fundamentally different from the norm. As a developer and strategist, Maennche has helped thousands of businesses of all sizes, both domestic and international, take their organizations to the next level.
Matthew also spends time giving back to the local business community as a volunteer, mentor, and leader for the local chapter of SCORE.