Running a small business can be a daunting task. In addition to creating, managing and growing a company, you must also be concerned with legalities, IT, accounting, and marketing. Outsourcing lawyers, managed IT service providers, and accountants are pretty straight forward, but outsourcing marketing can be complicated. If you hire an advertising or marketing agency, what is their specialty, who will they report to, what will be their scope of services? These can all be too much for a small business owner to manage. What you really need is a partner with marketing experience, an On-Demand Chief Marketing Officer.
What is the function of an On-Demand CMO?
An On-Demand CMO is not a full-time, payrolled employee of a company, because of this you may also hear them referred to as a Fractional CMO. They are often independent contractors or heads of their own agency. They serve the role of the CMO, but only on a part-time basis. This brings the wealth of experience and expertise of a seasoned professional to the table for a business, but at the fraction of the cost of a full-time employee.
Being a part-time advisor is really the only key difference in an On-Demand CMO. As Gianni D’Alerta of Naka puts it best “An On-Demand CMO helps business leaders to become accountable for their marketing goals, akin to an accountability coach.” The On-Demand CMO is still tasked with some of the same responsibilities as a full-time version. They can still do the research, create the strategy and execute all marketing services for a company. They can be responsible for communicating with various agencies to execute specialized marketing and even communicate in-house to see goals are met. By setting the strategy for the company, they can put into practice projects that can help even the smallest companies succeed.
On-Demand CMOs generally have their own staff or contractors they work with. These professionals are often hand-chosen by the On-Demand CMO for their high level of work or skill in an area of expertise. This allows even small businesses to have access to some of the best minds in marketing.
How this differs from a traditional agency
An On-Demand CMO differs from a marketing or advertising agency in the spectrum of items that they manage. Your On-Demand CMO is a business partner you rely on, not an agency you send tasks to. They provide you with a full spectrum of marketing services, not the niche plans that many of the smaller agencies offer you. Plus they do it all without the overhead of a full agency to run.
Benefits of an On-Demand CMO
For a small business, the benefits of hiring an On-Demand CMO are highly profitable. Having the industry expertise of a highly qualified marketing professional offering the insight, creating the marketing plan, and executing it with their own, chosen staff, is invaluable. The access to resources and expertise is hard to come by otherwise and the benefit of having a partner you can discuss the big picture, not just one aspect of your marketing plan, with is invaluable. Hiring an OnDemand CMO is one of the best marketing decisions you can make to grow your business.