The Rising Demand for Marketing-as-a-Service: A Game Changer for Small and Medium-sized Businesses
Marketing As-A-Service (MaaS) : Growing Demand with SMBs
In today’s business climate, buying behaviors continue to shift rapidly while digital platforms evolve constantly, and the need for effective marketing has never been greater. Yet, for Small and Medium-sized Businesses (SMBs), where marketing plays a critical role for growth, maintaining or augmenting a full in-house marketing team with the right expertise can be costly. For many of these businesses, acquiring the expertise of a Chief Marketing Officer (CMO) can be budget prohibitive.
Navigating this challenge is where Marketing-as-a-service (MaaS) comes in, offering a plausible and cost-effective solution that opens access to a fractional CMO and revolutionizes the way SMBs approach their marketing efforts.
Why the rise of MaaS?
Several factors are fueling the growing demand for MaaS:
Complex and Evolving Marketing Landscape – The Gartner published article, "What Will Marketing Focus on in 2023," confirms that keeping up with the ever-changing digital marketing trends and technologies can be overwhelming for SMBs. The lack of bandwidth and resources makes it challenging to keep up with market advancements. Marketing leaders are looking for deeper and more valuable connections between customers and brands. With this perspective, MaaS providers bring specialized expertise, experience, knowledge, and ongoing updates to navigate this evolving landscape more effectively.
Cost Effectiveness – Building a full in-house marketing team involves significant costs including salaries, benefits, and other overheads. Hiring a full-time CMO for strategic marketing can be expensive for SMBs. MaaS offers a more cost-effective and flexible model, on a per-need basis, allowing businesses to access expertise only when needed, saving money and resources. This flexibility allows SMBs to scale their marketing efforts up or down based on their needs and budget at a given period. MaaS fills the gaps for smaller marketing teams who must initiate and complete time-bound projects or campaigns, cost-efficiently and with better scalability.
Scaling Expertise – Maas providers often have a diverse team of expertise covering various marketing tactical domains like content development, SEO/SEM, social media, email marketing, and account-based marketing. MaaS providers are supported with the expertise of a CMO for strategy build and GTM directions. This allows SMBs to tap into a broader pool of expertise than they can afford individually.
Data-driven Approach – Reputable MaaS providers leverage data analytics to measure campaign performance and optimize strategy for better results. This data-driven approach ensures campaigns are aligned with business goals and deliver measurable ROI.
How SMBs can benefit from MaaS
Here's how SMBs can best leverage MaaS:
Define Your Needs: Clearly identify your marketing goals and challenges before approaching a MaaS provider. This ensures you work with a partner aligned with your specific needs. A professional and experienced MaaS provider offers tailored solutions to meet the unique needs and objectives of the client. Whether it’s increasing brand awareness, generating leads, or driving sales, clearly defined goals and objectives guide MaaS providers in crafting effective marketing programs that result to desired outcomes.
Seek Transparency: Ask detailed questions about the provider’s experience, team expertise, and service inclusions. Ensure clear communication and expectations are set upfront. A seasoned marketer will tell you what works and what will set you up for success.
Data & Reporting: Insist on regular data-driven reports and performance insights to track progress and measure the impact of your marketing efforts.
Collaboration: Remember, MaaS is a partnership. Actively collaborate with your provider, share valuable insights, and provide feedback for an optimized, results-oriented campaign or initiative.
Accessing CMO Expertise
MaaS unlocks access to fractional CMO services, giving SMBs the benefit of high-level strategic guidance without the full-time cost. These experienced marketing leaders can help develop comprehensive marketing plans, define target audiences, and recommend effective campaign strategies.
In addition, outsourcing marketing functions to a fractional CMO/MaaS provider allows SMBs to focus on their core competencies and strategic initiatives. Instead of getting bogged down in the complexities of marketing, business owners and teams can dedicate their time and resources to driving innovation and growth.
Embracing the Future of Marketing
The rising demand for MaaS reflects the changing dynamics of the business landscape. It is driven by its ability to provide cost-effective access to specialized expertise, proven experience, data-driven strategies, and scalable solutions.
By clearly identifying their needs, choosing the right partner, and fostering collaboration, SMBs can leverage MaaS and the CMO Experience to utilize their full marketing potential and achieve sustainable growth.
Given the current competitive landscape, SMBs who embrace flexible, data-driven, and forward-thinking marketing are empowered to compete effectively in today’s digital and highly competitive marketplace.
References:
What will Marketing Focus in 2023 - https://www.gartner.com/en/articles/what-will-marketing-focus-on-in-2023
Marketing Expenses: Methods, Examples, and Importance - https://www.indeed.com/career-advice/career-development/marketing-expenses-examples
8 Tips on How to Grow Your Service Business - https://www.payaca.com/post/8-tips-on-how-to-grow-your-service-business-according-to-mike-winnet
What is Digital Transformation - https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-digital-transformation
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About Pamela S. Adriano (learn more)
Pamela Adriano is the Founder and Principal CMO of The CMO Experience, a strategic marketing consultancy and services outfit dedicated to empowering small and medium-sized businesses to enhance their marketing for sustainable growth.
With many years of experience, Pamela has successfully accelerated both top and bottom-line performance by merging traditionally separated tactical areas into cohesive synergies. Her marketing expertise spans various industries including finance, hospitality, education, healthcare, automotive, nonprofits, and information technology. For inquiries or service requests, kindly reach out to Pamela via email at info@cmo-experience.com
