CMO


Chief Marketing Officer

Interim and fractional CMOs provide focused expertise and efficiency

/ Revenue Growth / Build Team / CMO

The Chief Marketing Officer’s role is increasingly complex. Qualifications for the role include the ability to think broadly and strategically while having tactical acumen in multiple areas.

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Customers, competitors and markets continually change adding to the challenges of being a Chief Marketing Officer today. Tenures for CMOs are among the shortest for all executives at less than three years. One reason is the wide disparity in what organization’s expect from their CMOs. Some may want a strategist paying attention to go-to-marketing planning and target marketing.

Others may want CMOs focused on close integration with sales including building brands and awareness, developing content and generating leads. Still others may want to emphasize product marketing and product management.

CMO Roles and Responsibilities

The CMO must continuously refine the marketing strategy in response to shifting external and internal factors. A high-performing CMO must take on the following tasks:

Go to Market Planning

Why a business does what it does

Product | Market | Competitors | Distribution | Budget

A Go-To-Market Plan answers fundamental questions about why a business does what it does. It answers questions about what its products and services are, who benefits from their use and how they benefit. It is a guide for companies to stay on track.

Product / Market Fit

Select target customers. Define value. Test features.

Finding a fit

When trying to reach Product – Market Fit, the company needs first to determine the target customers and their underserved needs. Afterwhich, the business needs to find a way to define its value proposition, feature set, and lastly the user experience.

Target Marketing

Exploring preferences

People predisposed to buy

Exploring specific data about the preferences of people who are predisposed to potentially buy your product can include where they live, age, gender, interests, education, relationship status, buying concerns and more.

Brand Building

Compellingly complete tasks and create feelings

Valuable connections

Companies need to have a clear idea about who they are, what they do, why they do it, who they do it for and how they make their customers lives more enjoyable, convenient, or valuable when they use their products.

Content & Digital Marketing

Paid... Owned... Earned... Creating Demand

Drawing Potential Buyers

The mix of content, be it owned media that tells your story, bought media that finds buyers and draws them in, or earned media that generates interest and curiosity, the marketer has to build awareness and draw potential buyers.

Data, Product & Platforms

The science of business attraction and optimization

Roadmaps, market data and analyses

Understanding how prospects and customers are reacting to your offering is detailed and sensitive work. It includes formulating pricing strategies and offers. Working on detailed buyer/user personas, developing a product roadmap and interpreting data, including win/loss analyses.

The Chief Marketing Officer & Strategy

Success in the CMO role includes bringing in new customers into the business. To ensure that that happens, CMOs need to formulate the right kind of marketing strategy to match and complement the business plan.

Jobs to Be Done

Understanding the jobs customers want products to do touches every part of product marketing, customer segmentation, messaging, sales strategy and sales processes. Many times motivations can be hidden and even seem irrational. A marketing strategy presumes nothing, and will explore what knowledge needs to be gained from customers.

Deep Customer Insight

Along with fundamental demographic and psychographic data, successful CMOs go deeper into all kinds of questions about motivations and timing, such as What time did people buy or consider buying products? What were they wearing? Were they alone?

Research that Leads to Innovation

The purpose of researching is not to replicate whatever competitors are offering, but to try to think of ideas to make it better or different. Before you can sell within a successful sales process, you should establish a substantive value proposition for clients to establish sales traction.

Selecting Marketing Channels

Companies now have many promotional, influencer, social media and traditional advertising options. Understanding buying centers, personas and roles, particularly in B2B is critical.

Sales Funnels & The Buyer’s Journey

The sales funnel starts with awareness, then interest, desire, and ends with action. For each step of the journey, companies have to determine which channels can achieve each of its goals.

Integration with Sales

Achieving marketing and sales alignment can be complex, and success often requires overcoming significant cultural barriers and the complete transformation of the marketing and sales model.

Metrics

Marketing strategy hinges on the ability to measure key lagging, leading, and behavioral indicators. These KPI’s help develop a great pipeline and forecasting process. Equally important, they provide the roadmap for front-line sales management, insights, and coaching. Clarity around metrics is also central to effective sales analytics and reporting.

Technology

An effective sales strategy leverages technology. A great CMO knows how to maximize their sales technology stack, including CRM, marketing automation, and enablement tools

Interim CMO or Fractional CMO

Given the skills, complexity, sophistication and requisite experience to have an effective CMO, many organizations feel an interim or fractional CSO is a good option to consider.

An interim or fractional CMO offers the following specific advantages:

compare fractional and interim CMO to in-house CMO

Speed

A search for a Chief Marketing Officer typically takes 4-5 months with another several weeks expected to get the new in house CSO to full capacity. You may face a 1-2 quarter gap in finding your next CMO. TechCXO part-time and interim CMOs hit the ground running, usually with less than a two week learning curve.

CMO Compensation

Options for on-demand executives include defined project fees (e.g. assessments, project plans), hourly rates, day rates, or monthly retainer. A typical in-house CMO’s compensation, benefits and bonus will typically exceed $200k and include significant equity from a startup. There are no contracts, equity or loaded salaries with a fractional CMO who works faster and more efficiently than in-house resources.

CMO Capabilities & Experience

A fractional or interim CMO is a proven executive. The experience of an in-house CMO may be mixed, particularly their skills and experience in digital marketing. TechCXO On Demand CMOs are ready now to stabilize martech functions, identity issues, implement changes, and help with ramp up.

TechCXO Interim and Fractional Chief Marketing Officers

Lewis Goldman
Lewis GoldmanPartner - Chief Growth Officer, Fractional CMO
David Grocer
David GrocerPrincipal - Marketing; Fractional CMO
Rose Lee
Rose LeePartner, Interim & Fractional CMO
Carrie Pastolove
Carrie PastolovePartner; Interim & Fractional CMO

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If you’ve never outsourced or used executives on demand before, you’re sure to have a lot of questions. Don’t worry, we’re more than happy to answer them all.
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