I have spoken with CEOs about this subject and the majority of those who have subcontracted a marketing leadership confirmed they were looking at one thing: Costs. However, the cost is not the only benefit of outsourcing. Let’s look back and see what the implications are on hiring a full-time marketing leadership.
First things first: costs
Yes, hiring a full-time CMO (Chief Marketing Officer) or a Marketing Director can be costly and in some cases not feasible for small and medium companies. The final bill is just too high; it is not about the salary itself, but all other associated costs such as holiday pay, bonus, sick pay, allowances, pension, insurances and exit costs to mention a few. Everything considered this bill can be around 75% higher than the initial salary itself.
By choosing the company and the subcontractor, you won’t need to wait for your team to be knowledgeable on a particular subject or acquires a specific skill set. A subcontracted marketing director brings it all onboard, boosting productivity and efficiency. And we believe that increasing productivity is probably the most significant benefit of working with a subcontractor as by doing so will allow your staff to focus on core business needs.
Time and resources
Finding the right CMO takes significant recruiting resources and often more time than anticipated. Not all organisations are ready to make this commitment given their stage of development.
Interim management tends to be a great alternative to these cases. It allows you to concentrate and focus on product development, and the operations of your business. Interim management is also an excellent choice for companies who are looking at bringing new skills, having a fresh mind and adding an external point of view while at the same time bringing onboard an experienced professional for the time you need. Thanks for reading this and check us out next week again for more tips on different marketing topics.