What is a fractional CMO, and why might you need one?
A Fractional Chief Marketing Officer (CMO) performs the function of a CMO without your company needing to commit to a full-time person in that role; think of it as CMO as a service. You get a wealth of industry knowledge and experience without the full-time cost to help address marketing challenges needing attention. Many organizations already recognize the value of outsourcing other C-Suite functions, such as the CFO, where they need someone to come in and perform this function for a certain amount of hours a week for a designated period of time. In other words, they dedicate a fraction of the time that a regular CMO would spend on the company and receive a fraction of the pay.
Like most, you probably feel overwhelmed by the number of items on your to-do list and the deadlines for getting them done. Hiring a fractional CMO can be an intelligent choice for firms that need high-level marketing expertise but don’t require a full-time, permanent employee in that role. Here are some reasons why hiring a fractional CMO can be beneficial:
Expertise: Fractional CMOs are typically seasoned professionals with a wealth of experience in marketing and in your industry. They can provide expert guidance and develop effective strategies to help firms achieve their marketing and business development goals.
Cost-effective: Hiring a full-time CMO can be expensive, especially for small or medium-sized companies. Fractional CMOs offer a cost-effective alternative, as companies only pay for the services they need and can adjust the level of support as required.
Flexibility: Fractional CMOs can work on a project-by-project basis or on retainer, providing businesses with flexibility in terms of the scope of work and duration of the engagement.
Fresh perspective: Fractional CMOs can provide a fresh point of view and allow for more objective decision-making when it comes to marketing strategies and tactics. A fractional CMO can bring new ideas and help you figure out how to communicate your brand, culture, and value proposition through authentic storytelling and creative outreach.
Focus: Fractional CMOs are typically focused solely on marketing and can dedicate their time and energy to developing and executing effective marketing plans, which can be especially beneficial for businesses that don’t have a dedicated marketing team or need additional support for specific marketing initiatives.
Hiring a full-time CMO or director of marketing takes time, energy, and money, which many managers don’t have in excess. If you’ve tried to handle marketing on your own and you’re not moving the needle, bringing in a senior marketing professional on a fractional basis can help you bring your marketing to the next level.