Virtual CMO as a Profitable and Viable Marketing Service
August 21, 2018
The expertise of an in-house marketing team minus the premium salary
So your company is ready to take your marketing efforts to the next level. What do you do? Either you hire a full-time, in-house marketing director or chief marketing officer (CMO), but these positions require a $70-$200K salary that is way out of budget. You really need an expert with the experience and ability to lead all marketing aspects to reach your overall marketing goals while getting your money’s worth. But, can one person really execute all your marketing efforts alone?
The answer is not likely. A CMO will have to outsource most of your marketing divisions like a videographer, copywriter, designer, programmer, etc. The list of invoices goes on and on. So what is the best solution for your business?
Partnering with a Virtual CMO (vCMO) who in contrast to the traditional CMO, can provide dynamic expertise across multiple disciplines- digital marketing, social media, analytics, tracking, and programming, just to name a few. It positions your company to collaborate with a dedicated team of marketing experts who deliver strategic marketing to reach your marketing goals, minus the premium salary. Think of it as your all-in-one staffing solution.
What is a vCMO?
A virtual chief marketing officer (vCMO) is a service that gives clients access to the skills, experience and strategic insight of our proven marketing professionals at a fraction of the cost of hiring an in-house Marketing Director.
Why should you hire a Virtual CMO?
The biggest benefit of hiring a cVMO is that your business can save an estimated savings of 20-70%, instead of hiring an in-house CMO. This is because a CMO’s average salary is $170,000, not including the additional costs of the outsourced divisions. With a vCMO, an effective, outsourced team could cost less than a third of that expense. This means you get all your marketing needs, for less.
Jack of most trades
A vCMO provides expertise and experience across many disciplines. If your business launches a new product or service or ventures into a new marketing medium (digital media, public relations, or social media), your in-house marketing director may not have the experience to be able to lead the effort effectively. When you hire an outsourced team, you will have access to a broader range of expertise for less money.
Effective marketing requires consistency to establish brand recognition and positive customer experience. While business owners have every intention of driving their marketing efforts, something more pressing is bound to hit their desk becoming the new priority. An outside team’s priority will always be to provide marketing that delivers proven and measurable results while ensuring you make the right marketing decisions for your business.
With a higher focus and consistency comes a higher quality output. An outsourced vCMO will provide a network of marketing resources to provide their honest opinion on your company and ideas so they identify your strengths to meet your business goals. They will analyze what works, what needs improvement and clearly prioritize the problems needed to be solved. This includes implementing game-changing strategies, execution, and monitoring market trends. They will also be able to provide reports based on valuable tracking tools for your business. Having a dedicated vCMO to report on marketing efforts means better business decisions and accountability.