The real estate industry is a highly competitive landscape. Between managing listings, organizing open houses, and keeping up with government requirements, most realtors are working night and day just to keep up with the competition. Unfortunately, we only have so many hours in a day—and it can be tough to juggle all the moving parts of a real estate business.
If you want to scale up your marketing efforts, but don’t want to deal with the hassle of hiring and training entry-level employees, you may benefit from the services of a Chief Marketing Officer (CMO).
CMOs, sometimes also referred to as Marketing Directors, are C-Suite executives that are in charge of a company’s marketing efforts. They report directly to the chief executive officer and are traditionally responsible for advertising, branding strategy and management, and market research.
CMO Tasks and Responsibilities
At the start of a marketing campaign, a CMO will typically be in charge of setting the goals and objectives. This allows them to set the direction of the campaign and lay the framework that will be used to define the marketing strategy.
A CMO will identify relevant platforms and distribution channels, including whether the company should put a heavy emphasis on digital marketing. Should they opt to do so, they must create plans for using a combination of inbound marketing and outbound marketing techniques. This includes search engine optimization, search engine marketing, and social media marketing, among others.
After the planning phase, a CMO will supervise the marketing strategy’s execution, keep track of the goals successfully met, and identify the other aspects lacking in your plan.
Using any new details that may come to light, they may also decide to modify any elements of the campaign. This includes everything from content strategy to any of the original goals that may have been set at the beginning of the campaign, especially those that have been rendered irrelevant by the shifts in the industry. Using relevant data, they will shape the marketing strategy as they go along.
However, a CMO is not only responsible for planning and executing campaigns. They also need to be adept at tracking the development of marketing technologies and other trends that may help their companies gain an edge over their competitors.
They must be swift at understanding these shifts and be agile enough to react accordingly.
Does a small company need a CMO?
Don’t let the fancy sound post and description fool you. As a small business owner, you may have already started doing the basic responsibilities of a CMO. This is especially true if you have tried to study your competition’s marketing strategies and execute your own campaigns.
The only real difference is that a full-fledged CMO has the necessary working experience and the bandwidth to study the market at length. They devote their time to studying marketing trends and devising ways to leverage that knowledge in helping their companies grow. Because they are not in charge of day-to-day operations or business development, they are able to do their jobs effectively and efficiently.
A CMO’s service will definitely help accelerate any business’s growth. In the early stages of your real estate company, having a CMO may even be more important than hiring other C-level executives. This is because a solid marketing plan can spell the difference between achieving stability and never making it out of the startup stage. Without achieving growth, startups can quickly lose what little funding and runway they have and burn out.
With the ever-expanding nature of today’s digital marketing landscape, having a CMO will help your real estate company survive and thrive. The challenge then lies in whether small businesses, like yours, can afford to hire an individual with the necessary skill set usually prized for a C-Suite executive position.
How can a small business afford a CMO?
In a word: outsourcing.
It’s true that full-time CMOs often command hefty compensation. After all, the traditional position is a leadership role for many bigger companies that involves managing B-level executives, such as the Vice President of Advertising and the people who directly report to that position.
However, suppose you are looking for a marketing expert who possesses the necessary skill set and is continuously updating their knowledge of the field. In that case, an outsourced CMO will do the job just as well. Outsourced CMO services, like what we offer here at FrameworkPros, will take care of your marketing efforts—allowing you to focus on attending to the leads that the service will bring you.
How will outsourced CMO services help a small real estate company?
Our CMO services will help your real estate business expand its marketing reach through crafting and implementing effective marketing strategies. It will be like having a full-fledged CMO—except that you will not be paying for the cost of hiring, career development, and other expenses related to hiring a full-time employee. While you take care of activities, like open houses and closing deals, your CMO will take care of lead generation.
Our CMO services can be summarized as follows:
- Crafting a dynamic marketing strategy that has a strong focus on digital marketing techniques. This includes social media marketing, PPC advertising, and SEO, among others.
- Creating clear and compelling content that helps you stand out from the rest of your competition while maintaining relevance to your target audience.
- Equip your company with the latest marketing technologies and scalable tools that allow you to stay competitive in the digital era.
- Keep a good record of relevant metrics of all your campaigns in easy-to-digest formats to help you keep track of your return on investment.
What are the advantages of hiring a CMO?
Having a CMO helps your real estate business in many ways. For one, it allows you to have an experienced professional handle all your digital marketing efforts. While the CMO will still technically report to you, as the owner, he or she will have the experience necessary to make important decisions on their own.
This allows you to rest easy and divert your attention to other equally important aspects of the real estate business, like managing listings, preparing for open houses, and navigating clients through the closing process.
Another advantage of hiring a CMO is the ability to scale your marketing efforts, making them more effective in the long run. A CMO will have the necessary expertise to run a campaign on several different platforms all at once. This gives you more space and capacity to attract leads, build and reinforce brand identity, and generate revenue and growth for your real estate company.
Conclusion
Outsourced CMO services are great for real estate businesses who want the necessary expertise without the cost and difficulty of hiring a C-level executive. A competent CMO will help you achieve your sales goals primarily through a combination of digital marketing techniques that drive measurable growth for your company.
Are you looking for a digital marketing agency in St. Louis, Missouri, that can provide your business with CMO services? At FrameworkPros, we specialize in crafting data-driven campaigns that drive your real estate company’s growth and revenue. Contact us today to learn more!