A Fractional Chief Marketing Officer (CMO) can fix your bigger marketing problems and resolve your lack of marketing performance issues. How?
In 2007, the Institute of Corporate Productivity found that out of 332 companies surveyed, close to half were concerned about their employees delegation skills. Leaders need to reflect on why they are not delegating, how they are performing and the cost to the business.
With the power of delegating to experts in the Marketing Field (like a Fractional CMO), that will help get your manufacturing business to the next level.
Stefanie
CMO
Here are six ways your manufacturing company needs a Fractional CMO to fix bigger marketing problems:
1. Delegate
From speaking to leaders, it’s surprising to learn how much time they spend each week on repetitive tasks such as attending meetings, updating spreadsheets, and managing their email inboxes. It makes me wonder: How much time do leaders spend on the business?
According to McKinsey, 60% of a CMO’s time in the office goes to admin tasks.
Hiring an advisor, like a Fractional CMO allows one to focus on strategic initiatives to bring the CEO’s vision to reality. There is no time for anything else.
2. Stay Focused and Remove Distractions
A Fractional CMO can bring practical marketing insights to your marketing setup that requires shaking up your marketing efforts. Those insights come from real experiences. Once you give complete authority over the marketing resources to a Fractional, data gets collected to align your marketing activities with specific KPIs. A Fractional CMO can drive the right marketing metrics to get business results.
A Fractional CMO will find answers to these crucial questions:
- What is your cost per acquisition per marketing channel?
- Are you tracking your marketing efforts?
- What is the cost per lead?
- How to scale up your business based on the current figures?
- Do you have a strategy for reputation management? By the way, word-of-mouth is not a strategy!
3. Identify Marketing Needs (not Wants)
Executives love to hire in-house. Is it really needed? When?
Employing third parties with the skills, knowledge, and expertise to get work done rapidly and to a high standard means, you will spend less than you would to hire one full-time employee.
Many businesses, especially small and medium-sized, don’t need specialists all the time. For example, you may need a copywriter to write an article once each month, an SEO expert to establish or update your SEO strategy once a month, and a PPC expert for a few hours.
The main benefit of outsourcing is that you can handpick the skills you need for the amount of time you need them. That way you can remain strategic, hire senior specialists and optimize your marketing budget.
4. Cost Control (Investment vs Expense)
For a marketing team to function efficiently, the team needs to work on strategic projects. Removing ideas coming from the executive team, the sales team, or the new employee that just joined the company helps stay focused on the business goals.
Each marketing project or tactic should be strategic. If not, it’s an expense that distracts the marketing team from getting results.
5. Unbiased Advice
A Fractional CMO is free from business politics and internal bias.
The perspective of an external advisor is valuable. A Fractional CMO is objective and distances itself from office politics because the role is not part of the day-to-day running of your business.
For example, a Fractional CMO is not:
- Afraid to raise concerns
- Shy to take the time to understand a marketing problem
- Backing up a friend’s idea over anyone else
The independence of a Fractional CMO can open the door to fantastic new ideas, methods of working, and revenue streams.
- making the process workflows faster and more agile,
- clarifying the employee value proposition (EVP) to attract and retain the best marketing talent,
- investing in putting processes in place to identify areas to automate, and
- using the right metrics to measure marketing initiatives.
6. Build Strategic Foundation for Growth
A Fractional CMO can create a growth framework customized for your business that is missing so far. It includes creating marketing campaign strategies and optimally using the marketing budget to achieve predictable revenue growth.
By making sure you get ROI from the money you have spent on marketing, a Fractional CMO helps build confidence in the team and work together to grow the business — making the CEO’s vision a reality one quarter at a time.
The growth marketing framework changes the mind set through a long-term strategy and measurable results. There is no magic pills!
It’s time to Hire a Fractional CMO to Equip Your Manufacturing Company with the Tools to Grow during the Post-Pandemic Recession!
The implications of the pandemic are driving the global economy toward a potential recession beginning in Q1 of 2023. According to Gartner, an enterprise can take several winning actions against the economic slowdown.
The services of a Fractional CMO can help take those actions, such as:
Want to know more about how a Fractional CMO can take your manufacturing business to the next level? If you’re ready to add 7+ figures to your manufacturing company’s revenue, book a quick virtual coffee with Stefanie. Stefanie is a Fractional CMO, award-winning agency owner, master of content marketing with 15+ years of Marketing Experience in the Manufacturing industry.