A rapidly growing organization requires its employees to stretch beyond their job descriptions, addressing countless urgent needs as quickly as possible. Often, during these early stages, you do not have the time nor budget to build the robust team that you need. In this fast-paced environment, it makes sense to hire individuals who can be trusted to wear multiple hats and put out fires as they arise.
No matter how much drive and energy you have, there are only 24 hours in a day. It can be tempting to become accustomed to controlling every move within the business. While there is reassurance in knowing you have the final say, micromanaging every process in your organization is not a sustainable solution. There comes a point when trying to do everything yourself becomes detrimental and requires you to work twice as hard to hit your target growth rate.
Plus, adding marketing specialists to your team can boost ROI. Tasks ranging from copywriting and design to SEO and PPC require experience in both strategy and execution. While you could develop an in-house team to perform many of these marketing duties, some capabilities are stronger when they are outsourced to a group of specialists who can bring more to the table than a single individual.
Once your startup achieves a certain level of growth, you can round out the team with specialists who can expertly tackle specific needs. However, seeing tangible results from marketing programs is not always instantaneous. It can take weeks or months until you see the full benefit of new marketing programs. In the meantime, you may lose valuable time if you do not have experienced specialists on your team.
And by the time you realize your strategy is not working, your business will have lost valuable momentum. Unfortunately, developing in-house talent takes time as well. In situations where an internal resource is not in place, it is a good idea to reach out to third-party to bridge gaps.
If you have several positions to fill, the time and energy required to make the right hire can be time-consuming. In these circumstances, hiring an outside agency can create momentum, accelerate learning curves, and improve the efficacy of your resources. Working with a third-party gives you a reliable and experienced team, so you are not putting all of your faith in a single in-house hire to deliver the results you need.
Turn to an advisor who does not prefer one specialization or channel more than others. This outlook will provide objectivity that takes into account your target segment and your goals.
Imagine if you are considering hiring a social media manager. An impartial consultant will advise against hiring an in-house social media manager or paying top dollar to outsource to a social media agency if your customers do not spend a lot of time on social media. However, if most of your traffic is through organic search, then you stand to benefit by outsourcing your SEO needs. If you ask a social media agency for advice on whether you should outsource, they have a powerful incentive to ensure that you solicit their services.
Generally, unbiased advice will hinge on a few key factors:
Deciding whether or not to hire can be daunting, especially when you have a limited budget. Fortunately, TBGA can help answer your most crucial hiring questions. We have helped organizations large and small grapple with the same questions, and we can put you on a curated path toward successful growth. Take the first step and reach out today for a free consultation.
Ultimately, the people at the helm of your company make or break your organization’s strategic abilities. If what makes a CEO shine is growth, then your CMO is your partner in crime. Their input will be essential to the broad challenges that you will face: competition, innovation, and core customers. Also, few have a better feel for the end-user/consumer pulse than the marketing executive – their relevant and refined perspective on customer preferences will play a vital role in your company’s growth.
In today’s economy, the CMO is at the crossroads of growth and customer experience. CMOs are increasingly seen as a director of growth and customers, rather than the director of spending and advertising, worldwide. The CMO role has changed from working exclusively on brand communication and messaging to driving impactful growth and cultural change. Marketers not only need to funnel customer intelligence into all parts of the business; they also need to keep up their technological proficiency, utilize big data to create meaningful customer interactions, and deliver value within a consistent brand experience.
While CMOs need to be part of the key decision making, they also need to partner closely with your CFO part of the key leadership. It’s important that your CMO partners with chief financial officers to help them contribute to top-line growth and position themselves for a seat at the board table. Together, they can steer the ship responsibly.
A strategic focus on return on investment, coupled with the rise of customer centricity and acquisition allows for CMOs to achieve measurable value within the organization. In fact, the CFO and CMO should be working hand in hand to increase accountability and reduce inefficiency — the CFO’s role is greatly enhanced by today’s savvy marketer as they are often the most resourceful person on your team.
Change the way you work with your CMO. Both CEOs and CFOs stand to gain tremendous insight at the ground level and meet the growing customer expectations. The role of the CFO is also becoming more multifaceted so work closely with your marketing person to help your organization survive and thrive in this increasingly competitive landscape.
How to tell a good CMO from a successful one? The latter has the ability to think long-term, adapt quickly, and pitch in with the team. They are able to shift from focusing on growth to a ‘big picture’ mentality. Thus, your CMO should not only influence decision-making but be able to make the tough calls, embrace uncertainty, and put relevant issues in front of the board to consider. This focus on vision makes a difference. Consider opening a conversation about bringing your CMO to the boardroom and see how they can deliver even more value as your strategic partner in crime.
Want to chat about this topic? I’m speaking at the NASDAQ Entrepreneurial Center in San Francisco on Thursday, June 30th on Marketing through the Funding Lifecycle.