Casey Stanton is the Founder of CMOx, a Fractional CMO, and author of the Wall Street Journal #1 bestseller, The Fractional CMO Method. Casey shares what to consider when selecting clients as a Fractional CMO to determine if they could be a potential long-term client for you.
Takeaways:
When you are evaluating prospects, it’s important to see if they have the potential to be a long-term client for you. The distinction to look for is whether they have a collection of offers or a business with more enterprise value.
One example of an offer is a company that sells an individual product, such as car seats for dogs, where the success outcome is simply selling the product rather than a business with enterprise value.
Business owners that provide an offer are usually very open to testing. They usually employ copywriters, funnel builders, and media buyers.
The downside of offers is that they generally have a shelf life. Sometimes the shelf life can be a decade, while other times an offer’s shelf life is a season.
The two main reasons Fractional CMOs should avoid working with clients that provide offers are the chaotic energy that is inherent in offers and there is nothing of enterprise value being built. Without enterprise value, the business tends to be unsellable.
One sign that a company has enterprise value is that it has a sales team. Two additional signals are that the company is making strategic relationships with other companies and that the company is investing in itself. An example of the latter is investing in a CRM.
Quote of the Show:
“If you are working with a company that does a couple million a year at a minimum and doesn't have a CRM, you're probably going to struggle” - Casey Stanton
Fractional CMO Show