C-Suite Network™

Menu
Search
Close this search box.

Category: Advice

Categories
Advice Case Studies Marketing

Gen Z: How to Market to This Financial Powerhouse

Many aren’t yet old enough to vote, but Gen Z wields a mighty economic sword. Savvy brands are onto the reality that this new generation is becoming the developed world’s largest-ever generation of consumers. Market researchers have announced astonishingly high buying-power numbers for Gen Z — as in $143 billion in direct spending, with another few hundred or so billion in influencer spending.

In other words, Gen Z has enormous influence over how their parents and peers spend money — I’d venture to say, more so than any previous generation. Gen Z is also demanding different attributes from the brands they are willing to support, so it is essential to know how to market to them.

Who is Gen Z?

Most market researchers identify Gen Z as the group born roughly between 1997 and 2012. According to a 2020 Pew Research Center study, they are also the most racially and ethnically diverse generation ever, with roughly 25% Hispanic, 14% Black, 6% Asian, 5% other races and 52% white. In addition, one study (registration required) by Barkley found this generation is more interested in global trends and issues, connecting with others around the world via social media and apps.

Characteristics of Gen Z: The duality generation

Ironically, in some ways, Gen Zers have more in common with baby boomers and Generation X than millennials. Like these two older generations, the Barkley study found that Gen Zers tend to demonstrate more conservative views regarding personal responsibility, dependability, work ethic, finances and independence. However, according to the same Pew Research Center study above, they are more liberal and open-minded than any previous generation regarding social issues such as racial, gender and LGBTQ equality.

So, while these young consumers hold “old-school” values regarding financial independence, education and personal responsibility, they also hold progressive, non-conformist beliefs — and they aren’t afraid to speak out against brands that fail to authentically support issues important to them.

Top things to know about marketing to Gen Z

Gen Z grew up with the internet and they’ve become masters at instantly sorting through the deluge of information they receive, meaning they can tune out traditional advertising. Marketing to them requires a different approach than previous generations, so understanding the following attributes will help you connect with them.

Gen Z lives online. They have short attention spans, so your messages must be brief and catchy — short-form videos with music, visual effects and overlays are king. The Barkley study also found that these young consumers operate in FOMO (fear of missing out) mode, so using time-sensitive posts, such as the Stories feature on Instagram, often engage them. Keep in mind, Gen Z uses each social media app differently, so your online messaging approach needs to fit each platform. Regardless of which platform you use, be respectful of their privacy and ask permission before you share their content or data.

Gen Z needs opportunities for engagement and personalization. Interactive features such as quick polls, questions or contests in your social media advertising are a great way to get Gen Z’s attention. Provide opportunities for feedback and respond quickly, whether the feedback is positive or negative. It’s also essential to allow them to contribute ideas for product design and co-creation. Best of all, provide opportunities for them to experience your brand in an experiential marketing campaign such as product sampling and pop-up events. Make your experience spontaneous and delightful so participants will naturally want to snap and share hashtagged selfies of their interactions with your brand.

Gen Z values authenticity and uniqueness. Gen Z is more accepting of non-traditional beauty ideals and prefers to see realistic portrayals from advertisers and celebrities, according to the Barkley study. To connect with them, avoid hiring paid actors or “perfect-looking” celebrities and instead work with micro-influencers on social media (someone with 1,000 to 100,000 followers). Another excellent strategy is to work with in-person influencers on college campuses, concerts and extreme sports events.

Gen Z cares about social responsibility and positive change. As previously mentioned, Gen Z cares deeply about racial, gender and LGBTQ equality. They will not hesitate to call out a brand on social media that embraces a cause inauthentically or refuses to take a stand against inequalities. Their global connectivity and instant access to information have made them more aware of global, national and local inequalities compared to previous generations. As consumers, Gen Z leverage that information when making decisions about which brands to support. If you haven’t already engaged in cause marketing (e.g., partnering with a nonprofit), it’s time to do so.

Gen Z engages with brands they find ethical. Again, due to their ability to access information, these young consumers can often find out where, with what and how things are made. If a company claims to be “green” or support diversity but can’t transparently demonstrate its stated principles, Gen Z may turn its back. Gen Z sees a brand as a whole and doesn’t distinguish between owners, partners, distributors and suppliers. The takeaway here is that even if your brand behaves ethically, you could still lose Gen Z support if any link in your network appears not to do so.

Categories
Advice Case Studies Marketing

4 Ways Fractional CMOs Can Help Develop Your Brand

Building a strong market presence is essential for companies to thrive. Effective brand development plays a pivotal role in establishing a distinct identity, creating customer loyalty, and driving business growth. To achieve these goals, an increasing number of businesses are turning to fractional Chief Marketing Officers (CMOs) for their expertise in brand development. In this article, we will explore how fractional CMOs contribute to building a strong market presence and why they have become invaluable resources for companies seeking to elevate their brands.

Understanding Fractional CMOs

Fractional CMOs are experienced marketing professionals who provide strategic guidance and executional support on a part-time or project basis. Fractional CMOs bring knowledge and skills, collaborating with companies on brand development strategies. They understand market dynamics, consumer behavior, and industry trends, enabling impactful branding initiatives.

Developing a Solid Brand Strategy

One of the primary roles of a fractional CMO is to help businesses develop a solid brand strategy. They work closely with company leadership to define the brand’s core values, positioning, and unique selling proposition. By conducting thorough market research and competitor analysis, fractional CMOs identify opportunities to differentiate the brand and create a compelling value proposition. They collaborate with internal teams and external stakeholders to develop a cohesive brand strategy that resonates with the target audience and aligns with the company’s goals.

Crafting Consistent Brand Messaging

Consistency is key when it comes to building a strong market presence. Fractional CMOs play a vital role in ensuring that the brand’s messaging is consistent across all touchpoints. They help define the brand voice, tone, and visual identity, ensuring that it remains consistent in marketing collateral, advertising campaigns, social media channels, and customer communications. By maintaining a unified and cohesive brand message, businesses can establish trust, recognition, and loyalty among their target audience.

Implementing Effective Branding Initiatives

Fractional CMOs bring their expertise in implementing effective branding initiatives. They oversee the execution of marketing campaigns, ensuring that they are aligned with the brand strategy and objectives. Fractional CMOs leverage their marketing expertise to identify effective platforms for reaching the target audience. They guide businesses in selecting the right initiatives for brand visibility and engagement, including digital marketing, content creation, public relations, and event marketing.

Measuring Brand Performance and Iterating

Building a strong market presence requires continuous evaluation and refinement. Fractional CMOs utilize data-driven insights and metrics to measure the performance of branding initiatives. They analyze key performance indicators (KPIs) such as brand awareness, customer perception, and market share to assess the effectiveness of the brand strategy. Based on these insights, fractional CMOs collaborate with businesses to make data-backed decisions, iterate on branding efforts, and optimize strategies for better results.

Final Thoughts

Building a strong market presence is crucial for companies aiming to stand out in a competitive landscape. Fractional CMOs play a pivotal role in developing and implementing effective brand development strategies. Fractional CMOs use brand strategy, messaging, initiatives, and data evaluation to help businesses build a strong market presence. With their specialized skills and guidance, companies can elevate brands, gain a competitive edge, and achieve long-term success.

Categories
Advice Human Resources Marketing

Fractional CMO vs. Traditional CMO: Which Is Right for Your Business?

In the rapidly evolving world of marketing, businesses are constantly seeking effective strategies to gain a competitive edge. The digital landscape, evolving consumer behaviors, and emerging technologies demand companies stay ahead. Choosing between fractional and traditional CMOs is crucial for organizations of all sizes. Each option brings distinct advantages and considerations, requiring careful evaluation of needs and resources. Businesses must assess their requirements before making a decision.

Traditional CMOs

A traditional CMO is a full-time executive who assumes overall responsibility for an organization’s marketing activities. They are seasoned professionals with extensive experience and a deep understanding of various marketing channels, strategies, and industry trends. Traditional CMOs are typically well-suited for larger enterprises with substantial marketing budgets and complex marketing needs. They provide strategic guidance, build high-performing marketing teams, oversee large-scale campaigns, and drive brand awareness in a cohesive manner across multiple channels.

Fractional CMOs

On the other hand, a fractional CMO is a part-time or outsourced professional who works with multiple clients simultaneously. Fractional CMOs provide cost-effective and flexible solutions for small and medium-sized businesses in need of senior-level marketing expertise. With their extensive experience, they offer targeted guidance and specialized skills to meet specific marketing objectives. These professionals can be engaged on a project basis or for a specific duration, bringing valuable expertise to the table.

Factors to Consider

To determine which option is right for your business, it is essential to consider several factors. Budget is a significant consideration, as hiring a traditional CMO involves a substantial financial commitment. Alongside a competitive salary, benefits, and potential equity or bonuses, traditional CMOs often require additional resources to build and manage a marketing team. This investment may be well-justified for larger organizations with extensive marketing budgets and long-term growth strategies. Fractional CMOs, on the other hand, can be engaged at a fraction of the cost, making them a more accessible choice for businesses with limited budgets or specific short-term marketing needs.

Marketing Needs

Another critical aspect to evaluate is the scope and complexity of your marketing needs. In highly competitive industries or with a global presence, a traditional CMO is equipped to handle extensive marketing campaigns across multiple channels. Their full-time dedication enables a deep understanding of unique challenges, opportunities, and long-term strategies aligned with company goals. Traditional CMOs often excel at building and managing marketing teams, fostering collaboration, and driving cohesive marketing initiatives across various departments. Fractional CMOs, however, excel in providing targeted expertise for specific marketing projects. They offer fresh perspectives and specialized skills for product launches, rebranding campaigns, and digital marketing strategies. Working across clients and industries, they leverage diverse experiences and best practices, providing invaluable solutions to marketing challenges.

Time Requirements

Time is yet another factor to consider. If your business requires ongoing marketing support, strategic decision-making, and continuous monitoring of marketing initiatives, a traditional CMO’s full-time dedication can ensure consistent progress. They can effectively lead the marketing function, adapt to market changes, and drive long-term growth. Conversely, if you need specialized guidance for a limited period, such as conducting a marketing audit, developing a short-term campaign, or addressing a specific marketing challenge, a fractional CMO can provide the necessary expertise without the long-term commitment. This arrangement allows businesses to tap into senior-level marketing talent without incurring the costs associated with a full-time executive.

Collaboration and Company Culture

Collaboration and company culture also play a significant role in the decision-making process. Traditional CMOs become an integral part of the company, working closely with other executives, team members, and external stakeholders. They contribute to building a marketing culture, mentor junior staff, and drive the organization’s overall marketing vision. Their deep integration allows them to align marketing strategies with broader business objectives and foster a cohesive brand identity. Fractional CMOs, while temporary, can still integrate well with existing teams, provide fresh perspectives, and offer valuable insights based on their broad experience working across different industries and businesses. Their external perspective can challenge the status quo and infuse new ideas into the organization’s marketing efforts.

Key Takeaways

The choice between a fractional CMO and a traditional CMO depends on factors like budget, marketing needs, time requirements, and company culture. Traditional CMOs offer full-time dedication, comprehensive strategies, and deep industry expertise, suited for larger companies with complex marketing needs. Fractional CMOs provide flexible and cost-effective solutions, specialized expertise for projects, ideal for small and medium-sized businesses with limited resources or short-term objectives. Understanding your business’s unique requirements, growth trajectory, and marketing goals is key to determining the right fit for marketing success in today’s dynamic and competitive landscape.

Categories
Advice Leadership Networking Strategy

Unleash the Power of Micro Events to Grow Your Business

Think about the last time you attended or hosted a big, grand event. You probably don’t remember every person you met or every word from the presenters. You likely remember the personal connections you made and nuggets of helpful information you learned that have enhanced your personal or professional life. You likely made those meaningful connections during smaller, more informal encounters throughout the event, not during the large presentations — in other words, in a micro event setting. Micro events foster the potential for brands and target audiences to make mutually beneficial connections. Hosting or attending a micro event is a powerful tool to have in your marketing strategy toolbox. Here’s why.

What are micro events?

While there is no definitive definition of micro events, most event planners consider them short in duration (less than a day), focused on a limited or niche topic and carefully tailored. Micro events can happen during large, multi-day events (e.g., workshops or breakout sessions within conferences) or be stand-alone functions. They involve a smaller audience and fewer presenters but may be virtual, hybrid, or in-person. Examples include lunch-and-learn sessions, workshops, webinars, happy hours, VIP events, discussion panels, experiential events, guest speakers and expert Q&A sessions.

Micro events allow you to make meaningful connections with your target audience.

As marketers, we’re always trying to cut through the noise and differentiate ourselves from our competitors to attract and engage with our target consumers. If you’ve ever meandered around a big trade show or convention, you probably don’t remember most of the brands you encountered. Brands compete next to one another for your attention, and unless one offered you something highly beneficial or made a personal connection with you, you likely ignored or forgot them.

By hosting a micro event, you cut through the noise — and if done well, you connect with the right people at the right time with the right message. Instead of wasting your efforts on consumers who are not interested in your product or service (or are too distracted to pay attention), your micro event provides your target audience with relevant, meaningful information or experiences.

Micro events save you considerable money.

It should come as no surprise that a multi-day or even a single-day “wow” event comes with a hefty price tag. Renting event space, catering, presenters, marketing, audiovisual support, event staff, entertainment and transportation costs add up fast, and sometimes the ROI fails to deliver. Furthermore, the pandemic shut down big events for quite a while, and as a result, many people have realized that attending or participating in them isn’t always necessary. Even as mega-events ramp back up, attendance is down in some markets. Micro events are appealing for hosts and attendees because they require far less money to plan and attend.

Micro events can happen more frequently, showcasing your brand more often.

Complex events take several months or even years to plan (and, as noted earlier, are expensive), and most brands can only do them once every year or two. Micro events typically take far less time and effort to plan, so you can hold them as often as necessary. For example, instead of hosting a multi-day conference, consider splitting up the topics you were planning to cover into single micro events held over a series of weeks or months. Attendees can choose which ones to attend instead of having to commit to a time-consuming event. Another option is to take your event on the road and host small events in multiple cities. Keeping your brand in front of your target audience regularly and beneficially builds long-term connections — gold in marketing speak.

Micro events naturally allow for better networking.

One of the primary reasons people attend business events is for networking opportunities. Micro events often provide less formal, more social activities, so attendees have more opportunities to meet others and have memorable encounters. Additionally, small events have fewer people, so making connections with presenters and others is more manageable than at a large-scale meeting. Instead of meeting dozens of people for a few short moments, participants have time for lengthier, more in-depth conversations.

Micro events increase engagement and participation, especially for introverts.

Most of us have wanted to ask a question during a presentation but didn’t feel comfortable asking it in front of a room full of people, or perhaps many others were asking questions and time ran out. Micro events are often more relaxed, making presenters and attendees feel more comfortable engaging with one another. You may also attract new, valuable yet introverted members of your target audience who avoid stressful, high-energy events.

Micro events allow for more control over content and experiences.

When your brand participates in a large-scale event, you often have limited influence over topics, presenters, entertainment, venues, catering and overall feel. With a micro event, your team has significant control over the design and execution of all aspects. You can hyperfocus on specific objectives and create custom experiences. Additionally, micro events are nimbler, which means they can be timelier, especially in industries such as tech or fashion. Because large-scale functions take so long to plan, what’s new and hot may be different by the time the event occurs.

Micro events provide excellent experiential marketing opportunities.

Experiential marketing is all about creating memorable, meaningful experiences for target audiences. Due to the smaller number of participants, micro events can be fabulous places to allow consumers to touch, taste, feel, hear, see and interact with your brand’s products, services and brand ambassadors in memorable ways that aren’t possible at crowded functions.

Micro events are here to stay and on the rise.

Out of necessity, during the pandemic, marketers turned to micro events for safety. But now people are starting to realize their immense potential. The ROI can be worthwhile, and not just financially. Your staff and consumers are seeking more meaningful activities and opportunities to re-engage with others: micro events can fulfill those desires.

Categories
Advice Management

What is the Qualified Business Income Deduction?

The Qualified Business Income Deduction (QBI), also known as Section 199A, is a tax provision of the Tax Cuts and Jobs Act of 2017. This deduction allows businesses to reduce their taxable income by up to 20% of the business’s qualified business income. QBI applies to certain pass-through entities such as sole proprietorships, partnerships, S corporations, and some trusts and estates.

How does the QBI Deduction Work? In order to qualify for the QBI deduction, first you must have an eligible trade or business. Qualified trades or businesses include those that earn money through income from services performed in fields such as health, law, consulting, athletics, financial services, and more. The deduction can only be used in relation to taxable income generated by these types of services; it cannot be applied to wages earned from a job or other forms of passive income. 

Once you have confirmed that your trade or business qualifies for the QBI deduction, you must then calculate your total qualified business income. To do this, first you need to add up all regular and capital gains net incomes earned by your trade or business throughout the year. Once you have determined your total qualified business income amount, you can subtract 20% of this amount from your taxable income for that year. 

Why would this benefit my business? The QBI deduction offers tangible benefits for small businesses owners who qualify for it. The main advantage is that it helps reduce overall tax liability at the end of each year. A lower tax burden can mean more funds available for reinvestment into your business or other investments such as retirement accounts. Additionally, if you are filing taxes jointly with a spouse who also has qualifying trades or businesses, both parties may be able to take advantage of the full 20% deduction – which could potentially double the savings! 

Schedule a call today with one of my experts http://www.calendly.com/Stephan-controllers or call my office at 775-384-8124. 

Much Success, 

Scott L. Arden, CEO Controllers, Ltd www.controllersltd.com 

Categories
Advice Wealth

Unlock the Door to a Blissful Future: Discover the 10 Compelling Reasons Why You Absolutely Need a Prenup!

Unlock the Door to a Blissful Future: Discover the 10 Compelling Reasons Why You Absolutely Need a Prenup!

Love is in the air, and wedding bells are ringing! As you embark on this incredible journey of matrimony, it’s vital to lay a solid foundation for a harmonious and secure future. Introducing the secret weapon that can safeguard your love and protect your dreams – the prenuptial agreement!

Now, hold on a minute! Before you dismiss this concept as unromantic or unnecessary, let’s delve into the exhilarating reasons why a prenup can be a game-changer for you and your beloved. Buckle up, because we’re about to take you on a thrilling ride that will transform your perception of this powerful document.

  1. Fortify Your Love, Preserve Your Bond:

A prenup isn’t a sign of doubt or mistrust; it’s a testament to your commitment and love. By openly discussing your financial expectations and aspirations, you’ll deepen your understanding of each other and foster a stronger bond that can withstand any storm.

  1. Clear the Path to Financial Transparency:

Money matters can often ignite fiery conflicts in relationships. But fear not! With a prenup, you’ll establish open lines of communication about your finances from the very beginning. It sets the stage for honesty, trust, and a shared vision of your financial future.

  1. Protect Your Hard-Earned Assets:

You’ve worked tirelessly to build your wealth, so why leave it to chance? A prenup ensures that your individual assets, investments, and businesses remain secure, providing you with the peace of mind you deserve.

  1. Safeguard Your Inheritance:

Do you have cherished family heirlooms or an inheritance on the horizon? A prenup can shield these precious treasures from potential disputes, preserving your family’s legacy for generations to come.

  1. Shield Yourself from Debts:

Nobody wants to be haunted by their partner’s financial liabilities. With a prenup, you can shield yourself from assuming responsibility for each other’s debts, safeguarding your financial independence.

  1. Navigate Blended Families with Grace:

Second marriages and blended families bring unique dynamics and financial considerations. A prenup can help you establish fair provisions for children from previous relationships, ensuring their well-being and protecting your financial obligations to them.

  1. Keep Your Business Ventures Intact:

Entrepreneurs, rejoice! A prenup shields your business ventures from the turbulence of divorce, allowing you to focus on your professional success without worrying about its impact on your personal life.

  1. Preserve Your Peace of Mind:

Imagine a future where both you and your partner have predetermined guidelines for the division of assets and liabilities. By establishing these parameters in advance, you’ll eliminate the stress and anxiety that often accompanies the uncertainty of divorce.

  1. Reduce Emotional Turmoil:

Divorce can be emotionally draining, but a prenup can mitigate the turmoil by streamlining the process. With clear guidelines already in place, you can transition with grace and dignity, focusing on healing and personal growth.

10 Foster a Fair and Equitable Future:

Life is full of surprises, and while we hope for everlasting love, it’s essential to prepare for any unexpected turns. A prenup ensures that both partners are treated fairly and equitably in the event of a divorce, allowing you to face the future with confidence.

So, dear reader, as you embark on this incredible chapter of your life, take a moment to reflect on the power of a prenup. It’s not just a piece of paper; it’s an embodiment of love, trust, and foresight. Embrace the opportunity to safeguard your dreams, protect your passions, and build a future filled with excitement, harmony, and endless possibilities.

Remember, the greatest love stories are the ones that endure, guided by the wisdom and foresight of those who dared to prepare for the unexpected. Dare to secure your love, and unlock the door to a blissful future with a prenuptial agreement. Your love story deserves nothing less than an extraordinary happily-ever-after!

Schedule a Free Financial Fitness Strategy Session with Kris Miller, LDA

Legacy Wealth Strategist #1 Bestselling Author, Speaker & Educator

Use the Calendar Below to Schedule Your One-On-One Session with Kris

Calendar

30+ years of experience assisting others to grow & protect their wealth. Helped more than 6,000 families avoid financial disaster by strategically planning for their futures. Not one person has lost a single dime on her watch. Her clients learn how to change their families’ financial realities and create incomes they will never outlive

For more Healthy Money Tips:

linktr.ee/healthymoneyhappylife

Kris@HealthyMoneyHappyLIfe.com

Phone (951) 926-4158

Categories
Advice Technology

Master the Art of Financial Privacy: Unlock the Secrets to Safeguarding Your Wealth

In a world where financial transparency is the norm, how can you protect your hard-earned wealth and pay lower taxes? The answer lies in the art of hiding your money from prying eyes and ensuring your financial privacy. In this captivating article, we will delve into the strategies and tactics that will empower you to safeguard your wealth while maintaining a fulfilling and prosperous life.

Picture a life where your financial affairs remain discreet, shielded from unnecessary scrutiny. By adopting a simple and easy-going lifestyle, you can avoid drawing unwanted attention to your wealth. The key is to minimize outward displays of opulence, as these can attract the watchful gaze of both neighbors and government agencies.

Start by carefully curating your surroundings. Avoid flaunting expensive appliances and luxury cars that could raise suspicions about your financial standing. Blend in with the crowd, leading a modest yet fulfilling life that doesn’t raise eyebrows. Remember, the less attention you draw, the more control you have over your financial destiny.

When it comes to managing your income and property, discretion is paramount. Avoid showcasing your wealth through extravagant purchases or ostentatious displays of affluence. By living within your means and maintaining a low-profile lifestyle, you can minimize the taxes imposed on both your income and property.

But financial privacy goes beyond appearances. It requires careful planning and strategic decision-making. Explore legal and legitimate avenues to protect your wealth and optimize your tax obligations. Consult with financial advisors and tax professionals who specialize in asset protection and tax optimization. Their expertise will guide you toward legal strategies to minimize your tax burden while ensuring your financial security.

In today’s digital age, it’s crucial to protect your financial information from prying eyes. Stay vigilant against cyber threats and safeguard your online presence. Implement robust security measures to protect your personal and financial data, utilizing encryption and secure platforms for financial transactions.

Remember, financial privacy is not about evading taxes or engaging in illegal activities. It’s about preserving your wealth, securing your financial future, and maintaining control over your financial destiny. By mastering the art of financial privacy, you empower yourself to make informed choices, protect your assets, and live a fulfilling life while paying your fair share of taxes.

Don’t let unnecessary scrutiny dictate your financial decisions. Embrace the power of financial privacy and embark on a path that allows you to protect and grow your wealth while maintaining the lifestyle you desire. It’s time to take control and unlock the art of hiding your money from prying eyes. Let the journey begin!

Schedule a Free Financial Fitness Strategy Session with Kris Miller, LDA

Legacy Wealth Strategist #1 Bestselling Author, Speaker & Educator

Use the Calendar Below to Schedule Your One-On-One Session with Kris

Calendar

30+ years of experience assisting others to grow & protect their wealth. Helped more than 6,000 families avoid financial disaster by strategically planning for their futures. Not one person has lost a single dime on her watch. Her clients learn how to change their families’ financial realities and create incomes they will never outlive

For more Healthy Money Tips:

linktr.ee/healthymoneyhappylife

Kris@HealthyMoneyHappyLIfe.com

Phone (951) 926-4158

Categories
Advice Best Practices Human Resources Marketing Strategy

How Fractional CMOs Adapt to Changing Marketing Needs

Organizations seek marketing leadership that can swiftly respond to changing needs. Fractional Chief Marketing Officers (CMOs) provide a flexible solution, allowing businesses to leverage expertise on demand. In this article, we explore the advantages of fractional CMOs, enabling organizations to navigate shifting marketing landscapes and stay ahead.

The Rise of Fractional CMOs

Fractional CMOs are experienced marketing professionals who work part-time or on a project basis, offering strategic guidance and executional support as needed. Businesses can access their expertise without the commitment and cost of a full-time executive. This flexibility is especially valuable in fast-paced industries or uncertain market conditions, where adaptability and responsiveness are crucial for success.

Quick Response to Changing Needs

One of the primary advantages of fractional CMOs lies in their ability to respond swiftly to changing marketing needs. Fractional CMOs, with their extensive knowledge and experience, quickly analyze market dynamics, consumer behavior, and industry trends. They swiftly adjust marketing strategies and tactics based on these insights, allowing businesses to seize opportunities and tackle challenges promptly. Unlike traditional hiring processes, fractional CMOs provide an immediate solution, enabling businesses to capitalize on market shifts without unnecessary delays.

Affordable Expertise

Fractional CMOs offer an affordable solution, providing top-tier marketing expertise without the financial burden of a full-time executive. Engaging them allows businesses to access specialized skills and experience, receiving strategic guidance and leadership at a fraction of the cost. By optimizing marketing budget and resource allocation, businesses achieve higher ROI and maximize the impact of their marketing efforts.

Strategic Marketing Execution

Fractional CMOs bring a wealth of strategic insight and industry experience to the table, offering businesses a distinct advantage. Collaborating closely with organizations, fractional CMOs assist in developing and implementing effective marketing strategies that align with the company’s overall goals and objectives. They excel in areas such as market research, branding, digital marketing, and campaign execution, providing comprehensive support throughout the entire marketing process. Their expertise allows businesses to navigate the complexities of the modern marketing landscape with confidence and precision.

Embracing New Technologies and Trends

Staying up-to-date with the latest technologies and trends is crucial for sustainable marketing success. Fractional CMOs excel in this area, as they possess a deep understanding of emerging tools, platforms, and methodologies. Their expertise enables businesses to leverage innovative marketing techniques, capitalize on digital advancements, and adapt to shifting consumer preferences. By embracing these new technologies and trends, fractional CMOs ensure that businesses can maintain a competitive edge in a rapidly evolving marketplace, fostering continuous growth and expansion.

Seamless Collaboration and Knowledge Transfer

Fractional CMOs seamlessly integrate with existing marketing teams, fostering collaboration and facilitating knowledge transfer. Their presence brings fresh perspectives and best practices from various industries, injecting new energy and ideas into the marketing function. Additionally, fractional CMOs can mentor and guide in-house marketing professionals, enhancing their skills, capabilities, and overall performance. This collaborative approach strengthens the marketing function as a whole. It also ensures a smooth transition as business needs evolve over time.

Last Considerations

In an era where adaptability and responsiveness are paramount, fractional CMOs offer a flexible and adaptable solution for businesses seeking marketing leadership that can swiftly respond to changing needs. Their agility enables organizations to navigate the ever-shifting market dynamics and industry trends, seize emerging opportunities, and address challenges promptly. By accessing cost-effective expertise, benefiting from strategic guidance and executional support, and embracing new technologies and trends, businesses can position themselves ahead of the curve and achieve sustained marketing success. With the flexibility advantage of fractional CMOs, organizations can effectively adapt to the ever-changing marketing landscape and drive sustainable growth in today’s competitive business world.

Categories
Advice Marketing Strategy

Selling Services Instead of Products? Don’t Rule Out Experiential Marketing

Experiential marketing is all about creating opportunities to invoke your customers’ senses as they interact with your brand — seeing, touching, smelling, hearing and tasting your products. When executed well, customers walk away from an experiential marketing experience with a positive, meaningful memory of their interaction with your brand. But what if your business sells services that can’t be touched, smelled or tasted?

As it turns out, many experiential marketing tactics successfully employed by product-based companies work equally well for service- or other non-product-based companies. After all, service-based companies also aim to create delightfully memorable experiences to engage with their target audiences. Let’s delve into three ways service-based businesses can incorporate experiential marketing to attract customers and build brand loyalty.

1. Try a different take on product sampling.

Most of us are familiar with product sampling, typically at a store, tradeshow, festival or street corner. Brand ambassadors invoke our senses by talking with us and showing us their product, handing over a sample to taste (or smell) or letting us try something on. Then the ambassadors answer questions and offer a discount coupon or sample to take home.

You can employ this same tactic as a service business, either by performing a small service sample or by using enticing freebies to attract potential customers. For example, a physical therapy practice might offer free five-minute chair or foot massages and then a discount coupon for later use. A pediatric dental practice might attract families by handing out fresh-baked cookies, branded dental hygiene sticker reward charts and a chance to win a free dental cleaning. The cookies have nothing to do with a dental practice, but customers may remember how good they smelled and tasted.

Be sure to launch your product sampling campaign where your target audience is likely to be. Using our pediatric dental practice example, it should be somewhere parents of young children congregate, such as a parade, school event, soccer game, etc. The physical therapists should choose a location like a gym or a park where amateur athletes (who tend to get frequently injured) or patients recovering from joint replacement surgeries are likely to spend time.

2. Sponsor or create engaging opportunities at events.

Street fairs, town festivals, concerts, sporting events, tradeshows and conferences are teeming with people expecting to interact with multiple brands. Make yours stand out by creating appealing hospitality suites where attendees can take a break from the crowds, sit in comfortable chairs and enjoy a refreshing beverage or snack. Play brief, engaging videos demonstrating your service offerings that customers can watch as they relax. Entice them to enter a giveaway or give them a discount code to use later for your services.

Another wildly successful option for businesses of all types is to use cutting-edge virtual and augmented reality technology to create immersive experiences at events. For example, each year at the U.S. Open, American Express runs legendary tennis fan experiences, where fans can do entertaining things such as compete virtually against artificial intelligence opponents. Unfortunately, creating these memorable experiences comes at a hefty price and is out of reach for most businesses. However, smaller companies can host low-tech, affordable activities such as old-fashioned county fair games — think softball throws, beanbag tosses and dunk tanks. The essential idea is to create pleasantly surprising opportunities for your target audience to engage with your brand so they walk away with a favorable impression.

3. Plan stand-alone experiential marketing events.

Unlike a booth at an event where you’re competing with many businesses for attention, a stand-alone event or series of events may result in a higher ROI. State Farm ran a successful smaller-scale campaign to increase brand awareness in Florida years ago called “Get to a Better State Campus Tour.” During stressful midterm and final exam weeks, they sent brand ambassadors to four university campuses. To help students get to a more relaxed “state,” they hired yoga instructors to conduct short classes and took photos of students in front of green screens depicting dreamy vacation destinations.

Another example: In 2014, New York City-based TD Bank created three pop-up art galleries featuring 10 pieces of environment-focused art as part of a campaign to support MillionTreesNYC, an initiative to plant one million trees across New York City. TD Bank’s services are unrelated to trees or art, but the campaign was effective because it created positive impressions of its brand and increased awareness.

Businesses with more limited budgets can run less costly stand-alone events. For example, mobile vehicle tours and pop-ups (temporary tents or booths) are typically nimble, affordable ways to get your brand where your target audience is. Focus on creating authentic experiences that will be meaningful and uniquely suited for your customers and your brand. Handing out a free pen or tote bag is pretty ho-hum these days, whereas running a game or contest or providing a sample service makes a longer-lasting impression. For example, a dog grooming service could launch a pop-up near a dog park and perform free nail trims or other quick grooming services.

Final thoughts

It’s crucial to avoid gimmicky or inauthentic offerings or activities, or you risk having your campaign backfire. Consider your brand from your customers’ perspectives: How do your service offerings benefit them? Then design your experiential marketing campaign thoughtfully and creatively to deliver the right message at the optimum time and place for the best results.

Categories
Advice Best Practices

How to Safely Give Your Child More Independence!

Happy Independence Day to my American friends! We celebrated our nation’s birthday this past Tuesday, July 4th, commemorating the United States becoming independent from England.

This festive holiday is associated with summer, family and friends coming together, barbecues, and fireworks—all to commemorate the day our country was born.

As we celebrate our country’s independence, let’s not forget that as individuals, we have the same right to our autonomy. Many parents often ask me, “How much independence should I give my kids?”. As parents, it’s our duty to encourage and develop a sense of autonomy in our children.

So, in the spirit of the holiday. . . here are a few ways to give your children more independence.

. . . hug your kid a little tighter today and tell them you’re thankful for exactly who they are.

. . . let them know you value their thoughts, feelings, and opinions, and that you admire their ability to self-direct.

. . . reassure them that even though they drive you up the wall sometimes, they’re never “bad kids” for speaking and living their authentic truth.

Whether you celebrate this holiday or not, I want to wish you a Happy Independence Day!

May we model the freedom, respect, and equality that every human being—including our children—deserves!

Love and Blessings,

Katherine