Marketing is an essential if you want to expand your ecommerce firm in 2022. Not just marketing, but a holistic marketing plan that defines and supports your brand, communicates consistently, raises brand and product recognition, and produces quantifiable outcomes.
This necessitates the presence of more than one “social media expert” at the steering wheel. Real marketing leadership is required.
A full-time CMO is frequently employed by companies that devote a significant percentage of their money to marketing. With this option, you have a member of your executive team who is privy to all business decisions and, in most cases, is compensated accordingly.
There are also fractional CMOs, who provide an outsourced solution to your marketing needs rather than a full-time employee. Fractional CMOs have numerous customers, similar to accounting, payroll, and other outsourced company functions, and you just pay for the time spent to your firm.
You’ll have more freedom and, in most cases, a reduced cost since you’ll only be charged costs that represent the fractional nature of the function.
Why would you hire a fractional CMO instead of bringing in a full-time CMO for your ecommerce business? There are a variety of reasons for this, and not all of them are financial. Let’s have a look at what we’ve got.
Business development
Nobody starts an ecommerce company with the intention of it being static. Marketing is a wonderful approach to concentrate and examine your company’s development, which is usually at the forefront of business strategy.
When it comes to scaling your company, marketing leadership is critical. You’ll need someone with the requisite expertise to take your company from where it is today to where it wants to be—and beyond.
This sort of expansion needs more than marketing leadership. You’ll need a fantastic marketing staff to keep track of everything.
My CMO services can either assist you in finding and hiring that team, or we can provide you with access to our amazing, experienced staff for a fraction of the cost.
Budget It’s impossible to speak about growth without mentioning the budget. When starting a new ecommerce marketing enterprise, financial flexibility is critical.
Typically, marketing activities do not provide major results straight immediately. After frequent assessment, some modifications are usually required, which means you can expect to put in at least six months of work before evaluating success.
Hiring a fractional CMO frees up cash flow that may be invested in marketing rather than executive wages and perks. This is particularly useful for a smaller company that may not have enough income to employ a full-time CMO or provide the advantages that full-time executives expect.
You will still have a committed and skilled leader for your marketing team if you outsource your marketing activities, but you will not be spending outside of your budget.
Strategy/experience
Full-time CMOs are focused on one firm at a time, and as a result, their expertise and inspiration may be restricted. You may have access to a far larger range of marketing knowledge, including digital marketing and conventional advertising, with a fractional CMO.
More opportunities to attempt, learn, try again, and achieve.
The more experience a CMO has, the more chances they have to attempt new things, perfect their talents, and develop the most important tactics. A fractional CMO can create a plan for your firm that is tailored to your requirements, thanks to their expertise in different sectors and access to verified individuals.
Insight
Perhaps your team has been working hard on ecommerce marketing, but you’re not sure how to track their progress. You may not have an experienced employee who can support and manage your team, and you don’t want to forego such leadership in order to keep your budget intact.
A fractional CMO will not only have the abilities to guide your team to marketing success, but he or she will also provide a new perspective, useful information and tools, and contacts that a full-time employee may not have.
Flexibility
The freedom that comes with outsourcing your marketing leadership is one of the most major advantages of this arrangement. You’ll notice that your company’s time management improves, your permanent workers are freed up to work on other projects, and you receive all of the same professional leadership that you’d get from a full-time CMO.
It also allows you to determine the path your business takes without having to worry about the financial consequences of having to pay severance to CMOs who don’t quite suit your vision or provide the outcomes you’d hoped for.
Thanks to Liz Papagni at Business 2 Community whose reporting provided the original basis for this story.
