Propel Offers Fractional CMO Services to Mid-Sized Companies + Venture-Funded Startups
During the latest Small Business & Startup Stories DSM podcast, Greg Bailey, Founder and CEO of Propel, a business strategic marketing organization, and Hailey Stomp, Founding Partner, Principal and Fractional Chief Marketing Officer (CMO), spoke with Greater Des Moines Partnership’s Diana Wright about spending money to make money by staying competitive when it comes to marketing thought leadership.
Because marketing and technology is changing so quickly, finding employees who know how to stay ahead of the curve and adapt to what’s current is integral to long-term success. Stomp said if a business owner is not sure what platform to use to reach customers, but they know they need to spend marketing dollars to get a return, bringing in fresh and urgent ideas on growth strategy will help reach customers. A fractional CMO can help — by working with businesses on a contracting or consulting basis.
Longstanding, profitable mid-sized companies and venture-funded startups are the two audiences that Propel focuses on as it connects fractional CMOs with businesses around the world. Marketing is a significant way to grow venture-funded startups. Stomp said since hiring and training can take a long time, Propel can easily step in or fill the gaps to help with marketing to keep projects rolling while leadership goes through the hiring process.
Henry Ford once said, “Culture eats strategy for breakfast.” Bailey follows that up with, “But strategy is for lunch.”
Various campaigns, execution plans, marketing channels, measurements, analytics and tools will determine strategy in order to build a solid foundation. This is how businesses on the venture-funded startup side have engaged with Propel. For mid-sized companies, Propel acts as a marketing leader for the business by filling the gap when someone has left. That can turn into a long-term business relationship if a company finds that utilizing Propel’s services is more cost-effective than hiring someone new in that role. If someone at an established company has tried hiring a CMO in the past, but the role remained empty, Propel offers a new subscription-based CMO service that allows a monthly recurring fee basis to plug in an experienced CMO quickly. Clients gain the benefit and value of input from the best innovative ideas from everyone within the organization. Stomp said as businesses grow, they have different needs. Once a business hits a scale and wants to grow beyond that, it’s also beneficial to gain insight from marketing leadership that has experience with larger companies.
Bailey said that as an entrepreneur, there are some simple things to remember as you build your business:
Bailey and Stomp also discussed the Greater Des Moines (DSM), Iowa and Midwest startup community.
Watch the interview here:
Listen to the entire podcast above.
Startup Stories DSM
Startup Stories DSM is a podcast featuring conversations with entrepreneurs who share both their victories and failures on their paths to success. It is produced by the Greater Des Moines Partnership.