John Wanamaker is often credited with the saying, “Half of my marketing budget is wasted, the trouble is, I don’t know which half.”
That was over 100 years ago, and the good news is we’ve come a long way since then thanks to modern tools and technology. The bad news is, for leaders of many small and medium-sized businesses, while you’re focused on running the operations of your business, your marketing efforts can remain a bit of a guessing game.
The Difficulty of Adapting to Marketing Changes
The world of marketing changes rapidly. Between the launch of new social channels, algorithm updates, and the latest advertising trends, there’s a lot to keep up with. it can be difficult to know where and how to spend your efforts (and finances) on marketing and advertising. And that’s just on a tactical level.
What about your strategy? Will your current efforts help achieve your business goals? What are your business goals? Are you sure those are the right things on which you should be focusing? If you’re not asking yourself these questions, someone should be.
That’s where a Fractional Chief Marketing Officer (FCMO) comes in.
How a Fractional CMO Can Help You Succeed
What is a Fractional CMO exactly? Think of it as a marketing director for rent–part business growth consultant, part marketing executive–fully bought in on helping build your business.
If you want a better handle on your marketing efforts, a deeper understanding of the resources you need and how best to use them, or support in developing a more purposeful growth strategy for your business, tapping into a Fractional CMO may be one of the best decisions you make for your business this year.
Maybe you have some big ideas you’ve been waiting to try out or you’re working on a major initiative or two–launching a new product or service, entering a new market/region, opening up a new location–whatever your goals look like, connecting with a Fractional CMO can increase your odds of achieving them.
You may be asking yourself, “How exactly is this different from what I’m getting with my current agency?”
Most agencies (ours included) will set you up with an account executive as your primary point of contact. This person’s two main responsibilities will be to help manage your budget and act as a liaison between the agency staff and your team, responding to your requests and ideas and coming up with a plan to achieve those ideas. They do so in an effort to support your business while also growing their own as well.
A Fractional CMO on the other hand has no concern whether or not you use typical agency services, theirs or anyone else’s, or if you employ in-house staff. FCMOs would rather ensure your team is focused on the right strategy, not wasting energy or budget on ineffective tactics, and developing an effective plan to achieve your goals.
At no point does the focus become to sell services (but if you need help, your FCMO can bring in whatever resources you need to accomplish your goals.)
Another question you probably have is, “But what if I already have in-house marketing resources?” Our reply would be, “Great!”
It’s a major commitment to employ in-house talent. Let’s make sure you’re using them wisely and focusing their energy on the most effective tools, tactics, and strategies that will actually help you accomplish your growth goals.
Let HS’ Fractional CMO Help You Grow
Curious about what else a Fractional CMO does? Check out the rest of this blog series for a deeper dive into what this could look like for your business or give us a call to discuss more.