As the CEO of a growing company, you know your industry inside and out. You've got the technical terms down pat, and you're fluent in the unique language of your business. But when it comes to finding your next fractional CMO, does that mean they need to be an industry insider, too?
It's tempting to think so. After all, wouldn't someone who already knows the ropes be the most efficient choice? Maybe, but hear me out: sometimes, a little fresh blood can do wonders for your marketing, especially if you are working in an industry that isn’t known for great marketing.
We were talking to a prospective client in the industrial automation business, and the prospect decided to go with another Fractional CMO who had a lot of industry experience. In fact, that person had just retired from one of their competitors, so the prospect saw it as a slam dunk. It turns out that it wasn’t as much of a slam dunk as they thought. It turns out the CMO recommended they do things the way they had always done them, and guess what… They got the same results as always and flat revenue growth.
The Case for the Outsider's (Sometimes Clueless, But Always Curious) Perspective
- Avoiding the Same Old Song and Dance: People who have been in the same industry for a long time can get stuck in a rut, doing things the way they've always been done: attending the same tradeshows, running ads in the same trade journals, and using the same tactics. Lather, rinse, and repeat. An outsider can offer a fresh set of eyes and shake things up a bit.
- Borrowing Brilliant Ideas from Other Places: Imagine a CMO who just crushed it with a social media campaign for a trendy fashion brand. Now, they're applying those same creative tactics to your software company. Suddenly, your software is the hottest thing on TikTok. (Okay, maybe that's a stretch, but you get the idea!) Some industries are just more adventurous in the way they explore marketing tactics, and that exploration sometimes pays off, even if means just learning what works and what doesn’t. Why not take advantage of what they learned with their previous clients?
- Staying Ahead of the Game (Even if They Have to Google a Few Things): Marketing is constantly changing, faster than you can say "algorithm update." Someone who's worked in different industries might be more adaptable and willing to try new things, keeping your marketing fresh and exciting.
- Asking the Tough Questions (and Making You Think): A CMO who doesn't know your industry from a hole in the wall might just ask the questions you have yet to even think of. They can help you uncover hidden problems and opportunities that someone more familiar with the industry might overlook. In every consulting engagement, we always ask for permission “to ask stupid questions.” And we do, frequently. Sometimes though when we ask a stupid question like “what does OTDIF mean?” we find many others don’t know or have an unclear/conflicting definition.
- Skills That Translate to Any Industry (Even if They Don't Know All Your Acronyms): Sure, industry knowledge is helpful. But what you really need is a CMO who can think strategically, analyze data, come up with creative ideas, and communicate effectively. Those skills work in any industry, and they can learn your specific lingo in no time.
What to Look for Instead of a Mini-You
Instead of trying to find your industry twin, focus on these qualities in your next fractional CMO:
- Proven Success: Have they gotten results in their past roles? We're talking real achievements, not just fancy titles.
- Strategic Thinking: Can they create a marketing plan that fits your specific business goals, not just a generic industry approach?
- Data-Driven Decision Making: Do they base their decisions on facts and figures, not just hunches or how things have always been done?
- Willingness to Adapt: Are they comfortable with change and ready to try new things, even if it means stepping outside their comfort zone and yours?
- Excellent Communication: Can they explain complex ideas in simple terms and get everyone on your team excited about the marketing strategy?
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