Make a big impression without a big marketing budget.
So one of the things we do really well at CMO Centre is to not spend money where we don’t need to. Since we have all at some point in our careers been working for B2B businesses on shoestring budgets we are very used to making a little go a long way. We like to think that we can make any business look bigger than they are just by being clever with the available marketing budget and spending it wisely. Most, not all of our clients are in this position; they want to make a big impression but don’t yet have the big marketing budgets to spend.
What’s your current marketing budget allocation?
In an ideal world a business should allocate a minimum of 7-10% of revenue on the marketing budget. In the real world in early stage and fast growth B2B businesses we are often lucky to see 3-5% revenue allocated for marketing. So a business that has £1-5m revenues is allocating approximately £50K per £1m to the marketing budget rather than the £70-10K that they really should allocate. But we like a challenge so will always work on the basis that we spend only what is available (or less) but if revenues start to trend higher than forecast (because of some prudent marketing) we try to agree with our clients that additional money can be allocated to keep that upwards momentum going. We know only too well from experience that if revenues trend below forecast it is the marketing spend that gets cut first.
Outsourced skills – carry no overheads.
In most businesses the cost of marketing resource is not included within this budget and is expensed within employee costs. The same principle should apply to part-time or outsourced marketing costs; it is our belief these should not be costed as part of the marketing budget. Why do we say that? The reality is that your CMO Centre outsourced marketing resource costs will be less than the equivalent employment costs because there are no hidden costs. Outsourced skills come with no overheads, just the day rate or monthly retainer that is contracted. No costs of desk, no equipment, no NI, no pension, no holidays, no sick, no employee benefits. With CMO Centre resources you also get the benefit of a team of specialist skills, an average of 15 years plus experience each (and some of us have a lot more than that), a pragmatic approach to your marketing problem without the politics or constraints of being an employee and flexible t&c’s, so no redundancy when you don’t need us any more. So don’t impact the marketing budget by throwing outsourced costs within it, use outsource resources to ensure that you maximise the gains from your marketing budget whilst keeping your employment costs low.
We’re always available even if we are hired part time.
Usage of freelance resources has increased by 25% in the last 5 years since the recession and this trend continues to grow. One in 7 people in the workforce are now freelance and businesses are really starting to see the benefits of a flexible workforce with fantastic experience and skills. This is particularly true with marketing and demand generation skills. CMO Centre has a pool of hugely experienced B2B marketing and lead generation people that just get on with the job. We scope the business requirements, we discuss the available budget and then we put together a marketing strategy and plans that deliver clear measurable results within the budget and then we can prove if it is worthwhile investing more. We do this on a part-time basis but you would probably never notice we are part-time because we are always available.
Ring fence your marketing budget.
Our advice is to ring fence your marketing budget however high or low it is to use for measurable marketing that makes a difference. Use part-time and outsource marketing experts to run and deliver the best marketing strategy for your business and save money. That is what we do at CMO Centre, we deliver big footprint marketing on low footprint budgets. Give us a try (if after 6 months you don’t see a measurable benefit, you can let us go – that’s our guarantee).