So what are some of the advantages of using a Fractional CMO?
Having worked as a Fractional CMO for over 10 years it is evident that the motivations for hiring one are wide and varied. However, the following represent some of the key advantages clients enjoy when working with a Fractional CMO.
1. Derisks a full hiring decision.
Hiring sales and marketing leaders is difficult. Why? Well the good ones tend to be excellent at marketing and selling their services. A fractional CMO represents less commitment and thus can be viewed as a means to better assess the value a CMO could bring.
2. Helps keep the cost down
A full-time CMO can be expensive and when you add in expectations around bonuses the cost can be hard to justify (naturally depends on your stage of business). Most fractional CMO’s work to day rates and flexible terms (By way of an example I offer clients contracts without fixed terms making it easier to part company).
3. They bring leadership to the function
In many instances a junior marketing is often running the function, despite the fact they’ll likely lack the requisite experience. A senior leader can make the big calls and set the function up for a junior to execute on.
4. Different CMO’s bring a range of skills
The marketing function is a very broad one, and marketing leaders need to be generalists and thus cover a lot of ground. Perhaps you hire an initial Fractional CMO who has strong ‘product marketing’ skills before transitioning to someone who is stronger on ‘lead generation’.
5. They’ll often bring trusted contacts
The more experienced ones should have a rolodex of freelancers (or agencies) they’ve used over the years which means they can fast track processes.
6. They can bring playbooks
Most will have playbooks from previous engagements meaning they will have templates, documents and recipes for everything from SEO optimisation to product roadmaps.
In summary, there are several advantages of utilising a Fractional CMO to kick start your marketing function.
Perhaps you need maternity cover, or have a specific project you need assistance with. Perhaps the hot seat is already occupied, but you want to provide leadership support in the guide of a consigliere.