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Why Your Company Should Hire a Fractional CMO

Why Your Company Should Hire a Fractional CMO

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A fractional Chief Marketing Officer (CMO) is a professional who provides marketing leadership and expertise part-time or project-based. Fractional CMOs are a smart choice for companies that need marketing support but lack the resources or knowledge.

You might be thinking, “I already have a digital agency. What could be better than that?” Well, I’m going to tell you: hiring a fractional CMO. A fractional CMO is a consultant who specializes in marketing strategy and implementation. 

Unlike other consultants, they don’t just give you advice; they manage all aspects of your marketing team’s operations. This means that instead of having one person take on every task in your marketing department—from managing budgets and staff members to creating campaigns and delivering ROI—you’ll have multiple experts working together towards one common goal: ensuring your company gets results through effective marketing strategies.

A fractional CMO will train you and your employees while passing on their knowledge of what makes a successful marketing campaign.

The Zen Chief

A fractional Chief Marketing Officer (sometimes referred to as an outsourced CMO or part-time CMO) is a marketing executive serving businesses by leading marketing strategy, sales development, growth opportunities, and heading the marketing department. Businesses use fractional CMO services because they do not need a full-time CMO but still require expert strategy and leadership.

Businesses enjoy the flexibility that a fractional CMO provides. It often makes sense to bring in a fractional chief marketing officer instead of a full-time CMO. This can be for financial reasons, as a typical full-time CMO salary can cost far more than $252,930 per year. Or because the work needed to be done by the CMO does not require a full-time position—and the dirty little secret is that most companies under fifty-million dollars in revenue don’t need a full-time CMO anyway!

EXPERTISE YOU NEED: Don’t rely on inexperienced marketers to dictate your business’s overall marketing strategy. Bring in a Fractional CMO to provide a comprehensive marketing plan for your business.

COST YOU CAN AFFORD: You don’t need a top-heavy organization with a full-time CMO on staff. A fractional CMO will provide you with the insights and reporting you need—without the high price.

SELF-MANAGING EXECUTIVE: A CMO will lighten your workload by managing all aspects of your company’s marketing department. From vendors to employees, the CMO act

A fractional CMO can help you do more of what you do best.

It’s important to note that a fractional CMO is not a replacement for your current marketing manager. Your company still needs a marketing coordinator or manager who can implement the tactics, techniques, and tasks that come out of the CMO’s strategic planning, but it may be that you’re struggling to do so because most marketing implementors on the execution team aren’t self-managing; they tend to need the CEO to babysit them.. A fractional CMO can help you do more of what you do best, while freeing up time and resources for other focus areas.

The cost-effective solution

With a fractional CMO, your company can get the same benefits of having a full-time CMO without the high cost. Fractional CMOs are more affordable than hiring a full-time CMO and can even be more effective than a full-time CMO, depending on their experience. The bottom line is that fractional CMOs are more cost-effective than hiring either executive type for your business.

It's all in the approach.

When you hire a fractional CMO, you’re not hiring an employee you need to micromanage. You’re hiring an expert, working as an independent contractor, who can help your team see opportunities they would otherwise miss. They bring their perspective and experience to the table, where they make all the difference.

Fractional CMOs are team leaders who can lead your entire marketing department and all of your agencies and vendors. They take responsibility for their success while empowering others on your staff to do their best work. This approach allows everyone involved in marketing decisions to make informed choices without being bogged down by bureaucracy or indecision; it also encourages open communication between departments, so everyone knows exactly what everyone else is doing at all times (or at least as much as possible).

Get more value from your marketing budget.

As you know, marketing is an investment. You need to spend money on advertising and other marketing activities to reach your target audience, but it’s often difficult for small businesses to justify such expenses unless they are measuring the results and holding people accountable.

A fractional CMO can help you get more value from your marketing budget by:

  • Helping you focus on your core business instead of spending too much time on tasks that aren’t essential for success (like babysitting digital agencies or vendors).
  • Helping develop strategies that work with what you already have in place so as not to waste resources trying something new or different when what worked before continues working now (and into the future).

Fractional CMOs can help your company grow by working collaboratively with your team and providing expert guidance on every aspect of marketing.

Fractional CMOs can help your company grow by working collaboratively with your team and providing expert guidance on every aspect of marketing. The best part? They’ll still be there when you need them, but only when you need them.

What does this mean for the future of your business? First, it means being able to focus on what matters most: growing profits and building relationships with customers. Second, it means having access to the best talent in the industry—a fractional CMO—when they’re needed most (which is probably not all day).

Here are five reasons why a company should consider hiring a fractional CMO:

  1. Cost-effective solution: A fractional CMO can be a more cost-effective solution compared to hiring a full-time CMO or building an in-house marketing team on your own. The company only pays for the time and services needed rather than incurring the costs of a full-time salary, benefits, and other overhead expenses.
  2. Access to expertise: A fractional CMO brings a wealth of marketing experience and expertise to the table. They have worked with various clients and industries, giving them a diverse perspective and the ability to provide valuable insights and recommendations.
  3. Flexibility: A fractional CMO can be a flexible solution for a company with fluctuating marketing needs. The company can adjust the hours and scope of work as needed rather than being locked into a full-time employee, which is difficult to find, recruit, hire, and then increases costs substantially.
  4. Fresh perspective: A fractional CMO can bring a fresh perspective to the company’s marketing efforts. They can provide an outside perspective on the company’s marketing strategies and help identify areas for improvement.
  5. Professional development: Working with a fractional CMO can be a great opportunity for the company’s marketing team to learn and grow. The CMO can provide guidance, mentorship, and training to help the team improve their skills and advance their careers.

Fractional CMO Responsibilities:

  • Developing the marketing strategy for both the short-term and long-term. 
  • Deciding and committing to which marketing strategies are best for your business, such as SEO, content marketing, paid advertising, Google PPC, Bing, Facebook, social media, email, direct mail, a podcast, etc. 
  • Solving marketing problems that will arise and need to be resolved quickly.
  • Leading the marketing department and inspiring team members. 
  • Hiring new employees and building out your team for success.
  • Working with outsourced agencies leaning on their experience and holding them accountable.
  • Your Fractional CMO should have a wealth of marketing and managerial experience. Therefore, the Fractional CMO should be the natural leader of the marketing team.
  • In addition to leadership qualities, the Fractional CMO is to be seen as the c-suite level marketing strategist who helps organizations achieve their marketing goals. 
  • As a Fractional CMO, I will work closely with your organization’s leadership team and the marketing talent executing the marketing tactics daily.

Benefits of a Fractional CMO

In summary, hiring a fractional CMO can be a cost-effective, flexible, and strategic solution for a company looking to improve its marketing efforts. The CMO can provide expertise, a fresh perspective, and professional development opportunities while the company benefits from all of it. 

Stoddard Agency’s Fractional CMO system, increased the revenue of a home services business from 13.8 Million to 17.8 Million in one year, and another from 11 Million to 16 Million in 9 months. How can we help you?

Call Stoddard Agency for your Fractional CMO consultation. (206) 880-0913

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