Outsourced CMO has been in vogue for quite some time now. With the increase in demand for e-commerce and online business, the requirement of a content management system or CMS became inevitable. The CMS is basically a platform on which various types of web pages are developed. This helps in keeping a track of the development and progress of the website through a systematic approach. This, in turn, helps in improving the performance and the bottom line of the company. Hence, with the help of a content management system or CMS, e-commerce can flourish without any hassle.
To understand the importance of outsourced CMO, it is important to chalk out the exact definition of this concept. According to Internet marketing experts, Outsourced CMO is “A strategic initiative by an organization to get its unique brand messages developed and disseminated through different channels like print, broadcast, and the Internet. The process is usually done through a fractional or offshore provider who serves as a mediator between the client and the creative team. Outsourced CMO helps organizations to accomplish marketing goals by developing a customized solution to meet individual customer needs.” For example, an outsourced CMO may have advanced methods to get Spotify streams for content that markets the company’s product.
As per another definition of outsourced CMO, “The creation of an Internet marketing strategy, consisting of the creation of multiple durations or versions of a product or service to reach a specific audience over a period of time in a cost-effective manner. This strategy can be implemented on a part-time basis or full-time basis with the choice depending on the budget available.” The above two definitions clearly indicate that an organization adopting a part-time approach to implement a marketing agency’s work would be able to implement the strategy on a small scale while a large company will have to opt for a full-time outsourcing option.
A part-time approach is a very effective one, as you have the option to execute the strategy whenever it suits you. However, if you are running a larger company then it may not be feasible at a small scale. On the other hand, a full-time outsourced CMO option can be implemented when you need to focus only on a specific segment of the market. Such an option is a better option for a huge company as they do not have to bear the burden of finding, training, and retaining a full-time in-house digital marketing agency and also the agency has the expertise and resources to develop different strategies for smaller companies.
In order to effectively execute a digital transformation plan, a digital marketing agency needs to understand the nuances of the market. It requires detailed research to make a correct decision regarding the direction of the strategy. When a decision is made to use an outsourced CMO, the first step will be to train all the key members of the marketing team so that there is a clear understanding as to what needs to be done for a particular segment. A CMO will also make sure that a full-time employee is not put in a situation where he or she is not able to contribute to the strategy.
The process of incorporating an outsourced CMO can take time. When a large company implements this method, it takes time for the marketing team to adjust to the new system. For small businesses, it may not be possible to immediately implement a new strategy following an abrupt change. This is why it is advisable to hire someone who has extensive knowledge of small businesses.
It is important to note that a fractional marketing plan is not always a viable option. If you are considering hiring in-house employees, then it is not possible to make a decision based on cost alone. While hiring employees can be more costly, it is a better option than hiring an outsourced service. A fractional plan will ensure that the agency will charge a flat fee for each lead and this fee cannot be increased. Furthermore, the business will know exactly how much to expect from the contract and will have a clear budget.
A small business should not necessarily opt for an in-house, so unless it is absolutely necessary. Outsourced services have provided businesses with services that would have been impossible to implement within an in-house department. Many outsourced companies provide services like appointment setting, follow up and lead capture. The best way to hire a fractional CMO provider is to ask the right questions and conduct a thorough investigation to ensure that the business is getting exactly what it needs at the best possible price.