October 2025·4 min read
The Marketing Multiplier: Five Questions That Can Exponentially Increase Your Valuation
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When ownership changes hands, marketing often becomes the wild card. It is one of the first areas new investors assess, yet one of the last that many founders optimize.
As a Fractional CMO, I often step into companies right after an acquisition to get their marketing house in order. But the biggest ROI is usually if I get involved with the seller before the sale. If those sellers had started working with me 18 months before the sale, they could have earned a much higher valuation.
The good news is that you can fix it. The process starts with asking the right questions.
Every high-value company masters what I call the Three Knows:
These aren’t abstract concepts. They define the difference between a brand that drifts and one that commands a premium multiple at exit.
Many business owners, even the most strategic ones, struggle to assess their marketing strength. That blind spot can cost them real value.
If you’re preparing to sell or looking to acquire, these five questions will reveal the company’s marketing maturity and uncover its true value potential.
Most companies serve multiple segments, but not all customers are equal. Have they defined an Ideal Customer Profile (ICP) that pinpoints their most profitable and least resource-intensive clients? Does that audience offer enough scale to support growth goals? And is that segment expanding or shrinking?
Do they truly understand what customers value, or do they rely on assumptions? When was the last time they had direct customer feedback from their biggest fans? The real brand promise lives in what satisfied customers say. If the company can’t explain why people choose them and are willing to pay a premium, they haven’t clarified their value proposition.
Each loss tells a story. Leaders who analyze churn and missed opportunities uncover weaknesses they can fix before those issues erode profitability.
A mission that ignores the customer isn’t a mission—it’s most likely a grandiose collection of buzzwords . A meaningful mission focuses on how the company creates measurable value for its customers.
Which channels bring in leads? Do they measure results or just activity? Most companies skip setting clear campaign objectives, so they can’t identify which tactics drive growth and which drain resources.
Once you answer these questions, the next steps become clear. Most marketing functions fall into one of three categories:
If you plan to sell within the next 18 to 24 months, strengthen your marketing foundation now. Define your value proposition, identify your ideal customer, and build a reliable acquisition engine. Those steps can significantly increase your sale price, as it demonstrates a systemic approach to growth that isn’t dependent on a founder or specific management team.
If you recently purchased a company and the marketing function isn’t delivering, start here. Use these five questions to guide your diligence, uncover the issues, and focus your improvements where they matter most.
Marketing drives valuation. It’s not a support function—it’s a multiplier. When you gain clarity across these five dimensions, you turn an average company into a market leader.
Alex Hultgren, author of The Three Knows of Marketing and CEO of Customers 1st Marketing, is a partner at Chameleon Collective. He helps companies engineer growth through practical marketing strategies that deliver measurable results.
Chameleon Collective’s Fractional CMOs and marketing leaders help private equity firms and founders build marketing systems that scale and endure.
Connect with Chameleon Collective to learn how we embed world-class marketing expertise to accelerate value creation.
Alex Pacia
Expert, Deal Maker, Internal Viewer, Admin, Collective Manager
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