Build Data-Focused Marketing with Fractional CMO
Categorized in: Fractional Marketing, B2B Digital Marketing
These days, it’s true that data drives decisions when it comes to business. Marketing is no exception to this. As is the case with operating any other department in the business, marketing requires a series of strategic decisions that will be in sync with the highest good of the company. Yet, people don’t always think of marketing this way. They look at marketing as a series of tasks strung together with the end goal of getting attention for the company.
This thinking is only partially correct. Without a strategic focus that was developed by examining data, the efforts will not be as effective as they could be. This is where a Fractional CMO comes in.
Assess the Data to Lay the Foundation
What a Fractional CMO brings to the table is the ability to anchor the marketing efforts with a data driven, strategic focus. So, the first thing they will do is assess any existing data to lay a strong foundation of success for the marketing strategy. What kind of data will they view? Here are some possibilities:
- Industry specific and competitive focused data to gain an understanding of the market as a whole.
- Existing data related to digital marketing such as social media metrics, traffic data, keyword data, and more.
- Perform audits of existing marketing initiatives to assess effectiveness.
Taking a step back and analyzing this information will allow the Fractional CMO to conduct a comprehensive audit of existing marketing practices, identify gaps that may exist, and either create a new strategy or amend the existing strategy. Data helps make these decisions a lot more informed, and it also lays a powerful foundation.
Determine the Goals and Objectives of Marketing
The initial phase of analyzing the data and prepare a new strategy could take anywhere from a few days to several months. It all depends on a variety of factors, such as how long you’ve been in business, how much data you actually have to analyze, and whether or not you have an existing digital marketing strategy. Somewhere during this process, too, you need to determine what your primary goals are.
Has leadership already communicated these goals? Were these goals taken into account when creating the initial strategy, if you have one? If not, then it’s time to define them. What are the marketing objectives and KPIs? These need to anchor all your efforts. So, if these aren’t known before you dive into the process, it’s important to take a step back and figure it out. A Fractional CMO will make this process a lot more efficient.
Perform Continuous Monitoring Once Program Is Implemented
Let’s say you’ve analyzed the data and created a great strategy. With the help of the Fractional CMO, you took the strategy and converted it into something tangible – a project plan. You’ve been sticking with the project plan for several months, and now you’re wondering if things have gotten any better. Well, data isn’t just used to make decisions – it’s used to oversee the process. A Fractional CMO will monitor the existing data and determine if a campaign is effective.
As you can see, a Fractional CMO is crucial to help take a data-driven approach for marketing. Someone needs to oversee the efforts and monitor campaign effectiveness!
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