Increased globalization has led to organizations facing multiple marketing challenges, especially with the onset of new market trends, heavy competition, evolving technology and empowered customers. Transformation and reinvention of the marketing strategies as well as business models is the need of the hour to adapt to the fast-paced environment. The deployment of a CMO on demand becomes a must under such conditions enabling a smoother transformation digitally, making organizations susceptible to larger profits.
Who is a CMO?
A Chief Marketing Officer is responsible for the aligning of organizational goals to the various marketing campaigns reaching the audiences. The expertise of a CMO enables the company to mitigate risks, reduce costs and generate revenues along with driving profits.
What is a CMO On Demand?
A CMO on demand boosts the growth of an organization by providing guidance to gain a competitive advantage. A company typically outsources the marketing wing with a motive of positively transforming the business. This transformation may involve reducing marketing costs and creating operational advantages to achieve increased levels of ROI.
In the case of marketing on demand, the CMO would ideally do the following:
- Build the culture of the organization
- Guide to stimulate the organization’s vision
- Develop marketing plans and budgeting
- Enhance the quality of the lead
- Promote Brand Building
- Conduct market research & evaluate channel plan
- Orchestrate a competitive analysis
- Provide Digital marketing solutions
- Position the brand, online as well as offline
- Streamline Sales & Marketing
Why hire a CMO On Demand?
Many small to medium enterprises tend to try their hand at marketing due to financial constraints. This could hamper the success as well as the image of the company. Hiring a CMO on demand for marketing on demand has proven to be the best option for companies to bring expertise, skills and experience in-house.
Advantages of a CMO On Demand:
- Develops an integrated marketing plan aligned with the organizational goals ;
- Connect well with the clients and build lasting relationships with the stakeholders ;
- Facilitates constant evolution with the latest marketing best practices, advanced tools and types of software ;
- It is more economical than appointing a senior marketing manager or an agency
It also becomes essential for a company to make the CMO on demand understand the key challenges, opportunities, needs and goals of the organization. With this information, a CMO on demand would create a marketing plan and ensure its implementation within the desired timeframe and budget. Eventually, making sure of measuring and monitoring the results of the campaigns.
How to select a CMO On Demand?
- Qualification – It is important to be of a certain level to be trusted by an organization with their marketing endeavours
- Industry Experience – An exposure and insight in the industry functioning norms may prove to be beneficial
- Compatibility and Trust – It is essential for the organization and CMO to have a mutual understanding and interest in collaborating with each other
A Thoughtful Conclusion
The decision of getting on-board the CMO on demand services have seen an increase in the valuation and improved marketing performances in many organizations. Significant growth in their sales and revenue has also been noted. Know more about how to change the scope of your business and re-define the face of marketing in your organization by referring to our blog on ‘Marketing To Transform Your Business – With CMO On Demand’.