Why Hire a Fractional CMO
What is a CMO?
CMO is an abbreviation for Chief Marketing Officer, the executive in charge of a company's marketing strategy, including advertising, public relations, and product development.
The CMO is responsible for creating and implementing marketing plans that help the company achieve its business goals, such as increasing sales and improving brand awareness. In short, the CMO is the leader of a company's marketing efforts.
When do you hire a CMO?
It is common for companies to hire a CMO when they are looking to develop and implement a comprehensive marketing strategy. This might be because the company is launching a new product or service, entering a new market, or trying to differentiate itself from its competitors.
Additionally, a company might hire a CMO if it is experiencing stagnant growth and needs to rebrand or reposition itself to stay competitive.
A CMO is typically brought on board when a company is looking to make significant changes to its marketing efforts and needs a seasoned professional to lead the way.
What is a Fractional CMO?
A Fractional CMO is a type of chief marketing officer who works part-time, and are typically a contracted consultant or marketing agency.
Fractional CMOs have many years of experience as marketing managers and directors. They now work independently, supporting entrepreneurs and business owners as they scale and grow their organizations.
The role of a Fractional CMO includes providing marketing and communications advisory, management and tactical support. They have experience and can assist in developing a marketing strategy, managing and implementing marketing tactics, and providing leadership for the growing marketing team.
Fractional CMOs are typically paid a monthly retainer where the contract is pre-determined based on the agreed-upon hours or scope of project commitment.
3 benefits of hiring a Fractional CMO:
There are several benefits to hiring a Fractional CMO.
It can be more cost-effective than hiring a full-time CMO. Fractional CMOs are typically paid on an hourly or project basis rather than a salary, which can save the company money.
Fractional CMOs bring a wealth of experience and expertise to the table. Because they work with many different companies, they have a broad range of experience and can provide valuable insights and perspectives to the company.
Hiring a fractional CMO allows the company to access high-level marketing expertise on an as-needed basis rather than committing to a full-time executive. This can be particularly beneficial for small or medium-sized companies that don't have the resources to support a full-time CMO.
