A Full-Time Marketing Director Is A Waste Of Your Time & Money. Here's What You Need Instead.
Cost of a Full-Time CMO
According to Glassdoor.com, the average cost of a Chief Marketing Officer in the US is around $200,000 per year ($170,000 salary + $32,000 in bonuses). And this person may expect equity, too.
Not to mention the average cost of hiring an employee is $4,129 and has a recruitment time of 42 days (see this study by the Society of Human Resource Management). Expect that to be higher and longer since you’re hiring a C-level position.
Also the turnover rate for CMOs continues to get worse (see this article in The Wall Street Journal).
So you’re going to be doing this again. And again.
If you’re looking for an alternative to all that, keep reading. I provide the key marketing leadership position that many growing businesses are missing. And I do this effectively at a fraction of the cost of a full-time CMO.
Marketing Leadership, As You Need It
For most growing businesses in the seven-figure to low eight-figure revenue ranges, it doesn’t make sense to drop a chunk of change on a semi-permanent hire like a CMO or marketing director.
It’s better to focus on a few key marketing initiatives you can do well that will grow new business and increase profitability. You don’t need a full-time marketing director or CMO for this.
A smarter option is hiring a marketing consultant who can help you make the right decisions with your marketing. Someone you contract and pay for their expertise as you need it. Not someone sitting around sucking up resources.
My strengths are in digital marketing: turning $25,000 into $150,000+ using the Internet. This involves finding patterns, establishing baselines, building effective online marketing campaigns, setting budgets and spending budgets efficiently.
Here’s what to expect from my marketing direction and consulting services.
Scheduling: Phone calls occur over scheduled 30-minute increments. Expect 15 minutes of consulting research for every 30-minute phone call.
We agree on a time and date for a call, then we have the call.
If you need ongoing consulting, we can agree on a fixed amount per month to take the invoicing hassle out of it.
Deliverable: Phone call with recommendations and / or ongoing email discussions.
Requirements from you: You will be required to provide the following:
- Clear explanation of the issues you face and goals you wish to accomplish from the consultation.
- Payment of the invoice in full prior to the start of work.
- Selection of a time and date for the phone call.
Cost: $175 per 30-minutes
Payment terms: Payment due prior to reservation of time and date.
Next steps: Contact to explain your consultation needs, make payment and schedule a consultation.