Virtual CMO vs Virtual Chief Marketing Officer FAQS
Every business in modern times needs marketing in order to continue to grow and find new customers. This is true for businesses of all sizes, from startups all the way to multi-national organizations. As a VCMO, I get asked a lot of questions about what makes partnering with a Virtual CMO the right decision. Here are some of the common ones I hear and, more importantly, the answers to them:
What Is A Virtual CMO?
In most large businesses, a Chief Marketing Officer (CMO) is responsible for developing and executing the marketing activities outlined for growth. This person is also responsible for maintaining consistent branding across all forms of communication, developing new ways to reach current and potential clients, and ensuring that the appropriate tracking is in place so that a positive or negative ROI can be determined for each marketing investment effort. Sounds like tedious work doesn’t it?
Like a CMO, a Virtual CMO takes on these responsibilities at a fraction of the cost by performing only necessary duties on a part-time basis. This is particularly advantageous for small and medium-sized businesses as these businesses typically do not have a large enough budget to keep a full-time CMO position occupied at all times. However, even large businesses can benefit from the services of a vCMO, particularly during a vacancy period when marketing plans can’t be halted.
While running every facet of your business may seem like a great idea at first, once you start to grow, finding the time to keep all of your ducks in a row can seem like an insurmountable challenge. In the business world, time is money. If you aren’t keeping up with your marketing demands because you have other matters to attend to, you could be missing out on that money!
One other common problem that business owners have when they begin to grow is that the marketing strategies, they used to get to that point may no longer be providing the same results they once had. In truth, you may just be throwing your marketing budget at the same people over and over. If they’ve already purchased from you, should you still be using that money to get their attention, or would you rather actively be building that pool?
A great vCMO should be able to complement your marketing plans and give your insight into the best strategies to implement to achieve those goals. A vCMO works with you to streamline marketing and organize data so that you can make smarter decisions. This allows you to take out the guesswork and put your effort exactly where your business needs it at the exact moment it makes sense.
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.