Could CMA become the new CMO?
How to support your CMO’s strategy with a full or partial outsourced approach
It is not uncommon for an organization to employ the services of a chief marketing officer (CMO) thinking that it is a silver bullet that will revolutionize the company’s marketing strategy. But to ensure the success of a marketing strategy, perhaps a business should look to work with a chief marketing adviser (CMA) as well.
The CMO oversees marketing initiatives and facilitates growth by developing areas such as sales management, product development, distribution channel management, marketing communications, including advertising and promotions, pricing, market research, and customer service.
Forbes has published research that found that CMOs typically only stay in position for an average of 28 months. Thinking about that in a cyclical way, the CMO would come into a business, build out a 60/90/120 day plan and begin to deliver it. They are often unable to deliver the full plan, resulting in growth limitations or constraints that can lead the CMO to seek new challenges elsewhere.
So how can these bottlenecks and challenges be resolved? The strategy that the CMO creates for the marketing and communications function of the business is only a small percentage of the overall success of the marketing growth strategy. Delivery is everything, and supporting, creating and deploying deliverables is vital to success.
The CMA can play a key role in supporting a CMO. It is a team of associated specialists with a wide experience of software and other tools that are used to deliver marketing activities. This includes marketing automation tools, CMS, CRM and analytics. It can tap into the knowledge of industry experts across all sections of the modern marketing mix and deliver a strategic plan that is potentially more refined and specific in its actionable deliverables.
The CMA is also agile and able to move with, or in advance of, a fast-changing market, unhindered by slow-moving processes and bureaucracy of the corporate company.
For businesses who do not have the budget to support a CMO, a CMA such as Hup may be an alternative. Hup can work with key functions of the business to build out your marketing and go-to-market communications strategy. The company would not only have a reliable partner focused on the development and growth of the business, but would also have greater access to service, technology and ideas – all rolled into a measurable retained fee. Budgets would become easier to manage and performance more measurable, as it is in the interests of the CMA to demonstrate performance at every opportunity. All of these benefits result in significant savings over a more traditional disjointed approach – savings that can be redirected to projects that drive more revenue.
So, if you are looking for a silver bullet to revolutionize your marketing strategy or you need support with your existing CMO strategy, why not consider Hup as your chief marketing adviser.