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If you’re setting up a marketing team for your business, you might need to fill the role of chief marketing officer. In this article, we will explore what a CMO is, what their responsibilities are and why your best option might be to outsource when filling this role.

What is a Chief Marketing Officer?

What is a CMO? A chief marketing officer or CMO is best described as an executive that is part of the C-level team. They oversee and develop marketing plans and advertisements, and will typically report directly to the CEO. Many businesses use the term marketing director, which is essentially the same role, although in some businesses, you will find that a CMO has far more responsibilities compared to a typical marketing director.

It’s important for a chief marketing officer to keep in contact and collaborate with the other C-level executives within a business. That’s vital to ensure the business stays on the right track in an ever-changing market.

Responsibilities and Role Requirements

A CMO will typically have many responsibilities in the typical business model. At the beginning of a marketing campaign, a CMO will set the goals and objectives of a particular campaign. The CMO will need to plan, manage and implement the marketing strategy. The marketing campaign must be set up in a way that ensures the overall growth of the company.

The CMO will constantly explore the marketing campaign and ensure that it is changed accordingly while exploring the content used. They will determine what the key performance indicators are and set them to be tracked in regular reports for the CEO of the company.

A CMO will also handle the financial aspects of a marketing campaign. They will keep a check on the budget, determine where to spend and ensure that costs do not skyrocket. Marketing plans are usually created annually by the CMO, so they will need to explore the latest data to ensure that a marketing strategy matches the latest technology and promotional trends.

On a regular basis, the CMO will to attend educational programs and marketing conferences. This ensures they are keeping tracking of competitors and latest trends.

Why Should a CMO Be Outsourced?

It’s possible that you already have a CMO on your business team. You might be frustrated with the cost and the amount of the marketing budget they consume. It’s true, a CMO can be an expensive hire, but is one even necessary?

In reality, you can save money by outsourcing this role, while still getting a professional who will handle all the responsibilities for a fraction of the cost. You might save thousands of dollars for your business, which allows you to spend this money elsewhere in your marketing campaigns.

This is one of the most crucial benefits, and it’s not just the payroll. You also need to think about the software needed for this role, which can cost a fortune. If you need a custom management system, it can cost thousands each month. It might also be necessary to pay for updates and maintenance. If you outsource, these costs will be handled by the outsourcing team and you pay a flat rate for the service. It won’t increase based on the work required.

Another important benefit of outsourcing is that it can lead to an increased level of trust in your brand. 70% of consumers won’t buy from a brand if there is no trust. An outsourced CMO can prioritize trust, rather than simply creating ad campaigns. They can build a strong relationship between the brand and the customers.

By outsourcing a CMO, you can also save time and manage the resources you have more effectively. An outsourced CMO completes their role daily throughout the year. They have perfected their craft and can complete tasks efficiently compared to the typical in-house business. This leads to a higher level of productivity and further cost reduction.

When you hire a CMO in-house, you will also rely on one individual to complete their job effectively with no backup or help. An in-house CMO won’t have a whole team to back them up, but an outsourced CMO will. There will be a full team to provide support and this leads to a reduced level of risk and a higher level of availability.

One reason a business will typically avoid outsourcing a CMO is that they think it’s only a short-term solution. They fear that once they complete a campaign, the outsourced CMO will move on, but this isn’t the case. In most situations, this is a long-term relationship where the outsourcing solution continues to provide a service to the company for years. This also ensures that a marketing solution is far simpler. You don’t have to worry about finding a new service for each campaign. Instead, you can work with a business and professional that understands your company goals and your individual requirements.

Finally, since you don’t just get one professional with an outsourced CMO, but an entire team, you get a more diverse solution. You gain access to multiple professionals who each have expertise in a certain area which they can use to improve your campaigns. This provides a higher level of service compared to using a professional who specializes in just one area. These CMOs can build up a full campaign for a far lower cost than one full-time employee and will provide a broader campaign strategy.

Ultimately, with an outsourced CMO, you can gain the professional solution you need for a lower cost. It guarantees a high-quality service to build your business and mitigates risks.