The growth journey is challenging. Competence, capital, and lack of time are often the entrepreneur’s most significant concerns. When it comes to sales and marketing, a common scenario for growth companies is hiring a senior CMO resulting in strategic competence. Still, the needs are also operational, so different agencies are signed to help with SEO, advertising, content production, and social media. It can become expensive and inefficient. Another common scenario is hiring a junior operational marketing person who lacks experience. As a mid-way solution, bringing in a CMO-on-demand can provide senior expertise and hands-on power to match the growth company’s needs.
What does a CMO do?
The CMO is responsible for the company’s marketing and branding, designing and implementing strategies, developing a marketing plan, identifying target groups, and creating advertising campaigns and sales tactics. A CMO is also responsible for evaluating and enhancing the marketing results and improving methods and tactics to reach the company’s target groups more efficiently. The CMO can work with various marketing channels, such as social media, print media, radio, and TV, and is responsible for managing budgets and related resources. A CMO usually reports to the company’s CEO or business management.
Common challenges for the CMO of a growth company
The growth company needs to quickly create an efficient marketing and sales function and create a framework for scaling up and down. It is crucial to have the right strategy for different phases of the growth journey, and the key to success is often about the following:
• Identify the target groups and understand their behaviors
• Produce value-creating content efficiently
• Drive organic visibility via a variety of (digital) channels, but in sync
• Advertise via many different digital channels with a compelling ROI
• Set up and use systems and tools (marketing automation and CRM systems) for efficient processes
• Create relevant KPIs and analyze data
• Work data-driven, constantly analyzing and adjusting for better results
• Create and manage possible new customers (leads)
• Automate and optimize the process from leads to orders
• Get new customers to start using the company’s products and services (onboarding) and monitor customer satisfaction (satisfied customers buy more over time)
Bringing in new customers and new businesses is crucial for growth. Marketing and sales need tight cooperation, and a sales-oriented CMO could bridge the gap and make growth happen.
What are the benefits of buying CMO on-demand?
A CMO on-demand can contribute to the growing company to a greater or lesser extent based on the actual needs and over time. During specific periods the need may be more significant and then decrease. The arrangement with a CMO on-demand creates flexibility and reduces risk but gives the company resources and support when and where it is needed.
How can Cooach help your growing company with marketing services?
Cooach has a broad network of marketing managers with extensive experience from growth companies, and they know the common challenges and opportunities. Based on the customer’s needs and actual situation, we will tailor a scope to support in the best way. Cooach can also provide experienced HRM:s, CFO:s, and legal counselors to give the smaller growth company quick access to skills and expertise usually only affordable for larger companies.
Purchasing services and functions
The hybrid organization opens up great opportunities and provides enormous flexibility. Today, as an entrepreneur, you probably spend a lot of time on tasks not connected to the core business and are perceived as unnecessary “admin time” instead of value creation. But you take help with individual services or even entire functions. As a company founder, you will release time, avoid fixed salary costs and reduce risk. You can get traditional business support functions within Finance, HR, Company Administration, and Marketing & Sales to your smaller start-up/ramp-up company without hiring staff resulting in lower risk and the possibility to scale up or down as needed.
Cooach’s business support platform allows you to scale up and down according to how your conditions change. The platform also offers innovative automated services and features, making repetitive tasks cost-effective. Cooach’s platform makes it easy to handle demands and needs from investors and employees, and you, as an entrepreneur, get support and relief.
The digital workplace and flexible communication tools enable easy collaboration. And even if the core competence should stay tightly linked to the company, business support functions – distributed among several people – can become the internal resource previously missing and give you, as an entrepreneur, support and relief to focus on building your company.