As a purpose based executive search firm, Y Scouts frequently helps companies hire a Chief Marketing Officer who shares the company’s purpose. But how do you know when to hire a CMO for your business?
There is no clear-cut answer for when to hire a CMO. Some companies include a chief marketing officer in their group of founders. Others do not hire a CMO until long after their business has become successful. If you are unsure about your executive staffing needs, here are four signs that can help you decide when to hire a CMO.
1. Your business is not growing as fast as its competitors
A lack of growth jeopardizes your company’s position in the marketplace. If all of your competitors grow while your company remains the same, you risk falling behind the times. Hiring a CMO can redirect your company’s focus, pull it out of stagnation, and keep it on the cutting edge of the industry.
2. You need to revamp your marketing strategy
Sometimes, all the contacts and networking you can handle is not enough to help your company attract attention. In order to be successful, your company needs to be able to turn attention into new business.
If you’re struggling to optimize your marketing, it may be time to try a different approach. A new chief marketing officer could provide fresh insight that moves your company to the next level.
3. Your brand’s voice lacks consistency or passion
Most marketing campaigns utilize multiple methods of communication: including email, social media platforms, or advertising. In order for a campaign to be successful, all of these methods must communicate the same message. Having one person in charge of marketing helps create consistency in your message, no matter how the message is distributed.
Furthermore, with so many platforms available to market your company, it is important to convey passion in every form of communication. A CMO can help your company connect to its audience and make them feel passionate about your service.
4. Your internal marketing staff needs a leader
If your current marketing team is small (or virtually non-existent), hiring a CMO may be beneficial. Hiring a chief marketing officer gives your employees a leader who can help them on current and future projects while providing industry experience and creativity. Both of these attributes are necessary for innovation.
How did you decide when to hire a CMO for your business? Let us know in the comments.
Y Scouts is a purpose-based, performance-proven leadership search and development firm focused on transforming how people and organizations connect to work that matters. When you’re ready to hire a new leader, Contact Y Scouts. If you are looking for your next leadership role within a purpose-driven, performance-focused organization, please join the Y Scouts Leadership Community.
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