Think it’s time to invest in marketing? … but concerned about the numbers? A Fractional CMO (Chief Marketing Officer) might just be the answer. As new models for outsourced engagement emerge, growth minded organizations are increasing looking to the Fractional CMO to address both strategic and tactical marketing goals.
Benefits of a Fractional CMO:
Top caliber Marketing — Experienced marketing talent can be hard to find. These individuals can also command salaries that are out of reach for small or mid-sized firms. Companies sometimes opt for less seasoned marketers but may do so at the sacrifice of more strategic perspectives.
Ramp Up Speed — A Fractional CMO brings lots of strategic and practical knowledge into precisely what you’re trying to accomplish. They have built marketing organizations. They have deciphered best practices in generating leads. Opting for a Fractional CMO often demolishes any need for a ramp up period.
Expanded Network — A master Marketer taps into a vast network. This may be customers, analysts, executives, vendors, you name it. A Fractional CMO offers lots of potential introductions.
Knowledge & Toolsets — Marketers today need to embrace the art and science of experimentation. Think A/B tests of highly personalized website experiences. Fractional CMOs have likely experienced a gamut of possibilities. You benefit from that experience, determining what to avoid, and how to convert suspects to leads better.
Financial Leverage — Hiring a Top Marketing Executive means significant investment. Depending on the market, an experienced Marketing Executive in the Technology sector can command a base salary of well over $208K (Salary.com, US Market). That can be a prohibitive number for a Small to Mid-Sized firm. A Fractional CMO can be secured for literally a fraction of that cost.
Flexible Terms — Hiring a permanent CMO can be a risk for an organization. Fractional CMOs engage according to the needs of the firm. You opt to bring onboard the Fractional CMO for whatever time period meets your needs. You can engage, see how the relationship works, and then opt to lengthen the engagement as needed.
Experimental Data — Would you work to reinvent the wheel? Fractional CMOs come primed with lots of experience and best practices. This allows them and you to be extremely efficient in how you approach solving your Sales & Marketing challenges.
Do Your Homework — While engaging a Fractional CMO limits your upfront risks, there’s no excuse for not doing your homework. Experience is one thing. Chemistry is another. It’s critical that the Fractional CMO candidate mesh with the objectives and culture of your firm.
Beware Inflexibility — Fractional CMOs offer immense experience and ultimate value. However, beware individuals who believe they solely have all the answers. Marketing today requires a strong collaborative, agile mindset. The Fractional CMO must be know when to apply tried and true principles, and when to toss out outdated modes of operation.
Spread Thin — Fractional CMOs are likely working with multiple clients at the same time. This sets up the potential for a lack of focus. Organizations should construct the relationship to ensure they get the focus that’s needed to drive them forward.