In this post (4 Reasons That Rent A CMO Makes Sense - Enterprise Value), Josh Patrick poses a sensible solution for a problem many small businesses, especially small professional service firms, have -- The firm is not big enough to support a full-time CMO but it needs those skill sets.
Josh's solution -- rent a CMO, or hire a CMO on a contract basis.
This can work for many firms IF you are clear on the following when vetting a contracted CMO:
- Their industry experience. Make sure that this person understands your industry and has a track record of success in your industry - not tangentially related to your industry.
- Their marketing experience. Some people have, say, 20 years of cumulative experience and some people have, say, one year of experience 20 times. Do you see the difference?
- Understand what kind of help you are seeking. If you just need help with a marketing tactic or two, that is a very different thing than help devising your marketing strategy based upon your business goals and then delivering a plan to meet those goals.
- Their marketing expertise. See the bullet point above. No consultant can have expertise in everything. Make certain that their expertise fits your needs.
- Realistic expectations You, the client, are the biggest part of the marketing equation. In a professional services firm, marketing is not something you can totally outsource. You have to be an active partner. Before you hire any consultant, determine what success looks like.
What have I missed in this list?
Source: Stage 2 Planning Partners Making Your Life Better Blog