According to research, the average tenure for CMOs is less than 3 years. One reason for this is that organizations often have disparate expectations for what they want their CMO to focus on – some may want more strategy, while others prioritize sales enablement. Hiring a fractional or interim CMO can help bridge gaps during CMO transitions and provide more flexibility.
Here are some of the key benefits of working with a fractional CMO:
Speed
The typical CMO search takes 4-5 months, with more time needed to get them fully up to speed. A fCMO can start contributing much faster, usually within 2 weeks. This helps avoid productivity gaps during transitions.
You will find that with the help of a fCMO, you can opt for cross-industry innovations. They can bring new ideas that can make it easier for you to bridge operational gaps and ensure that your company can provide the necessary products and services on time and as per client requirements.
Cost Savings
A fCMO is paid for time worked, with no long-term commitments. Hourly rates, day rates, or monthly retainers are common. This is far less expensive than a full-time CMO’s salary, benefits, and equity grants. Here is how a fCMO can prove to be cost-saving for your company:
- It is optional to provide him with the company benefits, which are associated with full-time employees of the company.
- They will provide their expertise as per requirement and on flexible budgets. This will reduce any unnecessary burden on your company.
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Proven Experience
fCMO’s have track records of success. You don’t take a chance on unproven capabilities like with a new hire. These on-demand executives have the skills to quickly assess situations and implement changes.
This is essential if you are looking to expand your company’s business operations. A fCMO will have experience across industries. When you hire a CMO with proven industry experience across several business platforms, you will find it easier to identify the best way to expand your business operations.
Flexibility
Workloads can fluctuate a lot in marketing. With a fCMO there’s flexibility to dial usage up or down based on evolving needs and budgets. This is important as it makes it easier to choose the employment hours and services you can expect from the CMO based on your company’s requirements and budgetary constraints.
For instance, you need a CMO to help you with strategic planning, resource allocation and evaluation of the business operations. Here, you can employ a CMO who has industry-specific knowledge and the know-how of other industries so that it can help you expand and manage your business operations. This flexibility can make it easier for you to manage your company budget and its operational requirements.
Resources
A fCMO brings access to vetted service providers, platforms, and discounted rates – whether it’s CRM tools, ad campaigns, or website design. This on-demand access brings startup-like agility.
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Responsibilities
Some key responsibilities a fCMO can handle include go-to-market strategy, brand building, content marketing, product marketing, and analyzing data to optimize campaigns. They can guide you on customer personas, pricing, and product positioning.
| Engagement | Type of business | Objective served | Business operations |
| You can engage fCMO as per your budget and company requirements | Small and medium-sized businesses can employ fCMOs as it will not significantly strain your company. | When you hire a fCMO, resource allocation becomes easier. It ensures that the correct resource is allocated for the right job. | You can expand your business operations as fCMO will bring experience across multiple industries into your company. |
Cost Models
There are a few common models for accessing fractional marketing executives:
- Advisory services for high-level strategy
- Interim CMO to fill a gap
- Part-time CMO for ongoing fractional time
- Full department outsourcing
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The Bottom Line
For many companies, hiring a fractional marketing executive can provide seasoned expertise and flexibility at a fraction of the cost of a full-time CMO. This on-demand model allows smaller teams to punch above their weight. With the speed of business today, fractional talent is proving to be a key way for nimble startups and growth companies to accelerate.
AIDigitalProfit’s team of experienced fractional CMOs can help you determine the best strategies for optimizing your growth through various strategies including Go-To-Market, Growth Alliances, Growth Pricing, SaaS Product Packaging, Growth Product-market fit (PMF), SEO etc. Schedule a call with us to learn how we can help contact us.