How a Fractional CMO Can Take Your Marketing to the Next Level

 

When a company wants to expand its marketing activities quickly, it may need the help of an experienced marketing executive. A fractional CMO (Chief Marketing Officer) or CMO consultant is an outsourced marketing executive who works part-time on a "for hire" or retainer basis. With CMO you get the expertise of a senior level marketing professional, but without the cost of having a full time executive in the position. 

Fractional executives become more and more popular, that is why it is important to know what they actually do. In a company's marketing department, fractional CMOs are employed to take on the job of senior leadership. They look at present marketing expenditures, plans, branding, sales goals, competition, and expansion goals. They design a marketing roadmap for the company based on this knowledge and then guide the company down this marketing path. A fractional CMO will come in and interview your leadership and marketing teams to get a sense of where the firm stands in terms of marketing and business. Then they'll conduct a competitive advantage study to see where your company's current practices differ from what it should be doing.

An Interim CMO differs from a Fractional CMO in a few key ways. An Interim CMO is a full time (or near full time) position. While Fractional CMO’s are part time roles for companies that are just starting to need executive level marketing leadership, Interim CMO’s are for businesses who have an established marketing team and are in a period of growth or transition.

So why should your company hire a Fractional CMO? If you are a startup, you are probably focused on creating a product, bringing it to market, and attaining funding. At this stage, a CMO of any kind is unlikely to be in your sights. The tasks of a fractional CMO include establishing marketing objectives and allocating a budget to the resources required to carry out those goals. As an Enterprise, you are much more in need of an actual CMO. A Fractional CMO only works part time, 10-30 hours a week, and after the first few months of engagement they usually work less hours per week. CMO should work 60+ hours a week, creating and executing complex marketing strategies.

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