Organizational Up-Skill: Why Hire an Outside Marketing Consultant

Marketing executives play a crucial role in driving business growth and maintaining a competitive edge. However, they often face organizational challenges that can hinder their effectiveness while raising expectations. From one campaign to the next, there is far too little time spent on foundational alignment, processes and systems that make it possible to scale, even under constrained resources. Consulting firms, like Marketing Endeavors Consulting, can provide the expertise, dedicated time, and strategic guidance needed to overcome these obstacles, laying a foundation for future growth. In this blog post, we will explore the common pain points faced by marketing executives and how consulting services can address them. If you are interested in hearing more about how marketing consulting can be a game-changer for your business, visit Why Hire a Marketing Consultant.

Emerging Trends: Fractional CMOs and Globalization of Creative Talent

The rise of fractional CMOs and the globalization of creative talent are two significant trends normalizing the outsourcing of what was once a highly secretive function. As the advertising and marketing industry has become highly consolidated, it's no longer uncommon for competitive companies to be served by the same firm. Sector expertise is now a prevailing priority, where the marketing skills are table stakes, and executives are expected to be immersed in sector-specific trends, trade media and product innovation.  It's more than one person can handle, but marketing is often the first victim of "efficiency" initiatives. Enter the Fractional CMO.

Fractional CMOs

Fractional CMOs offer companies the expertise of a seasoned marketing executive on a part-time basis. This model is becoming increasingly popular as businesses seek to leverage high-level strategic insights without the cost of a full-time executive. The outside leader is entrenched in the industry, identifying strategic direction, while the internal teams execute the tactical day-to-day activities. According to Gartner, organizations that utilize fractional CMOs can achieve better alignment of marketing strategies with business goals, leading to improved performance and profitability.

Globalization of Creative Talent

On the executional side, improving technology from apps to broadband have fostered the development of rich creative talent pools outside the traditional hotbeds of New York, London and Chicago. This globalization allows companies to access a diverse pool of skills (developers, animators, video editors, graphic designers, etc.) with quick turnarounds and lower hourly costs around the clock. Operationally, having revisions on your desktop in the morning and getting them completed overnight can be highly efficient. This trend is driven by advancements in sharing technology and the increasing acceptance of remote work. Businesses that embrace a global talent strategy can enhance their creative output and drive innovation, ultimately leading to better market performance.

Investing in Marketing for Better Performance

Data from Gartner and Forrester highlights that organizations that invest more in marketing as a percentage of revenue tend to enjoy better performance and profitability. By allocating sufficient resources to marketing efforts, companies can achieve higher levels of growth and competitive advantage.

1. Adopting a Data-Driven Marketing Strategy

One of the most significant challenges for marketing executives is adopting and implementing a data-driven marketing strategy. With the vast amount of data available, it can be overwhelming to collect, analyze, and derive actionable insights.

How Consulting Can Help:

• Data Analysis and Interpretation: Consultants can help marketing executives make sense of complex data sets, providing insights that drive strategic decisions.
• Technology Integration: They can recommend and implement the right tools and technologies to streamline data collection and analysis.
• Training and Support: Consultants can train marketing teams on best practices for data-driven marketing, ensuring they can effectively use data to inform their strategies.

2. Keeping Up with the Latest Trends

The marketing landscape is constantly evolving, with new trends, technologies, and platforms emerging regularly. Keeping up with these changes can be a daunting task for marketing executives.

How Consulting Can Help:

• Trend Analysis: Consultants stay abreast of the latest marketing trends and can provide insights on which trends are most relevant to the business.
• Strategic Planning: They can help develop strategies that incorporate new trends, ensuring the company remains competitive.
• Innovation Workshops: Consultants can conduct workshops to foster a culture of innovation within the marketing team.

3. Resource Constraints

Marketing executives often face resource constraints, whether it's a lack of budget, personnel, or time. These limitations can hinder their ability to execute effective marketing campaigns.

How Consulting Can Help:

• Resource Allocation: Consultants can assess the current resource allocation and recommend adjustments to maximize efficiency.
• Outsourcing: They can provide additional resources or recommend outsourcing options for specific tasks.
• Process Optimization: Consultants can streamline marketing processes to ensure optimal use of available resources.

4. Increased Competition

As markets become more saturated, marketing executives face increased competition. Standing out in a crowded market requires innovative strategies and a deep understanding of the competitive landscape.

How Consulting Can Help:

• Competitive Analysis: Consultants can conduct thorough competitive analyses to identify strengths, weaknesses, opportunities, and threats.
• Differentiation Strategies: They can help develop unique value propositions and differentiation strategies to make the brand stand out.
• Benchmarking: Consultants can benchmark the company's performance against competitors and recommend improvements.

5. Lead Generation and Conversion

Generating high-quality leads and converting them into customers is a perennial challenge for marketing executives. Effective lead generation requires a combination of strategy, technology, and execution.

How Consulting Can Help:

• Lead Generation Strategies: Consultants can develop and implement targeted lead generation strategies tailored to the company's ideal customer profile.
• Marketing Automation: They can recommend and set up marketing automation tools to streamline lead nurturing and conversion processes.
• Performance Metrics: Consultants can re-examine and establish additional key performance indicators (KPIs) to measure the effectiveness of lead generation efforts.

6. Aligning Marketing and Sales

Misalignment between marketing and sales teams can lead to inefficiencies and missed opportunities. Ensuring these teams work together seamlessly is critical for success.

How Consulting Can Help:

• Alignment Workshops: Consultants can conduct workshops to align marketing and sales teams on common goals and strategies.
• Communication Channels: They can establish effective communication channels and processes to facilitate collaboration.
• Integrated Strategies: Consultants can develop integrated marketing and sales strategies that ensure both teams are working towards the same objectives.

Marketing executives face a myriad of challenges that can impede their ability to drive business growth. Consulting firms like Marketing Endeavors Consulting offer the expertise, resources, and strategic guidance needed to overcome these obstacles. By addressing common pain points such as adopting data-driven strategies, keeping up with trends, managing resources, and improving lead generation, consulting services can help marketing executives achieve their goals and propel their organizations forward. For more detailed insights on why hiring a marketing consultant can be a game-changer for your business, set up a call or visit Why Hire a Marketing Consultant.