It’s amazing to see how people say that different things lead to their success: from a great product, well developed digital presence or the right team and work environment.
While all of these factors can contribute to growth, I don’t think they are the leading force of success. In my experience, there is only one thing that can ensure success. For me, the silver bullet is sales and marketing working together. That’s why you need a Chief Marketing Officer. But more on that in a minute.
The difference between the right and wrong sales and marketing approach can be the difference between survival and extinction. It’s too bad, the number of good products and services that never reach their intended market and, with this, the number of founders and executives that feel a helpless sense of failure.
If the product and service isn’t the problem, the answer to these issues almost always lies in the company’s ability to develop and execute an effective and efficient “Go to Market” plan. Leaders of these businesses can get stuck in the way it’s always been, where the marketing team doesn’t talk to the sales team or vice versa. The old thinking from a sales department that marketing doesn’t understand conversion of a sale is long gone or should be. Without question marketing often closes the loop on the entire sale.
One of the best ways to avoid or overcome this scenario, is to hire a strong Chief Marketing Officer. A CMO has strategic oversight on your company’s marketing and can coordinate the sales cycle to match your messaging across all avenues. This role has become ever more important as the online world continues to swallow up the attention of the consumer.
According to PayScale, the median CMO salary in Canada is more than $140k and can go up to over $200K with experience. This investment is too pricey for many and thus they retreat from the game of revenue growth through sales and marketing. A fatal mistake.
I propose a new option: just rent a CMO. By doing so, you could have access to a new set of eyes on your business’s ability to expand further into the current market and possibly into others. You wouldn’t have to fund a six figure salary or expense account; you wouldn’t have to worry about two months vacation, sick days or annual raises.
A rented CMO can be used as much or as little as possible to fit your budget and revenue aspirations where and when needed. All this for a fraction of the investment of a full time hire: a real solution to help ensure your company’s future success.