What is a Fractional CMO?
A fractional CMO is a chief marketing officer that works with organizations, typically on part-time engagements with one or more clients at any given time. Also known as an outsourced CMO or freelance CMO, a fractional CMO serves as a temporary executive for a business.
Fractional CMOs are a cost-effective and impactful solution for companies that need to stay ahead of their marketing strategies to reach their business goals. With fractional marketing leadership, organizations benefit from experienced professionals who can join the team quickly and bring strategic direction to any marketing effort. Fractional CMOs equip companies with the knowledge they need to drive new revenue while avoiding the costs associated with a full-time in-house CMO or marketing leader.
What does a Fractional CMO do?
A fractional CMO works with a company to develop and execute effective marketing strategies. This includes creating cohesive plans that focus on the organization’s goals, as well as setting strategies for achieving those objectives. In addition to providing strategic guidance, a fractional CMO can also be a great source of inspiration and help foster innovation throughout the company. A fractional CMO can help you:
- Accelerate revenue growth
- Develop and execute effective marketing strategies
- Overseeing marketing planning and budgets
- Align sales and marketing processes
- Shape brand messaging
- Market and client research to define the target market
- Provide a marketing vision for your company
- Identify and manage progress towards KPIs
- And much more…
When should you hire a Fractional CMO?
There are several situations in which hiring a fractional CMO makes sense. If your company is experiencing stagnant or declining sales, if you’re launching a new product or entering a new market, or if you simply feel like your marketing efforts could use a boost, then bringing in a fractional CMO may be the right move.
Another common reason companies hire fractional CMOS is because they don’t have the internal resources to support a full-time marketing executive. This is often the case with small businesses or startups that are growing quickly and don’t yet have the bandwidth to add another senior-level employee to their team.
How to find the right Fractional CMO for your business
Finding the right fractional CMO to fit your business is an important process.It’s essential to define the scope of the project prior to engaging in a working relationship. Consider your goals, budget, and desired outcome before selecting a fractional CMO who is able to assist and understand your needs.When looking for the right person for the job, be sure to consider their:
- Experience: Look for someone with plenty of experience in both B2B and B2C marketing.
- Skill set: Make sure they have a well-rounded skill set, including experience with digital marketing, lead generation, and brand management.
- Personality: It’s important that you find someone who meshes well with your company culture. After all, they will be working closely with your team.
- Strong work ethic: A good fractional CMO is ready to work hard for your company. They produce consistent and outstanding results because of their broad experience.
If your company is in need of some high-level marketing guidance but you don’t have the budget or bandwidth for a full-time marketing executive, then hiring a fractional CMO may be the right solution for you. A fractional CMO can provide an outside perspective that can be invaluable in terms of identifying new opportunities and generating innovative ideas—and best of all, you only pay for the time you need them!
