In the world of competitive business today, if you don’t have a fractional CMO, you could be shooting yourself in the foot. Marketing a business and doing it effectively is key to success and growth, and that’s even more important in 2022 when the landscape is changing so rapidly. Everything and everyone is online, clamoring to be heard.
While you might be able to do some marketing on your own if you’re a solopreneur––provided you know what you’re doing––if you’re a larger business that’s growing, you simply can’t wear all the hats. At least not if you want to do well and grow. Delegation is important because your other employees are already busy with the jobs you hired them for, and you simply do not have the bandwidth to both markets effectively and run your business.
In short, you need pro help!
So What’s a Fractional CMO?
Essentially, it’s like hiring a senior marketing pro for a ‘fraction’ of their time while also offering services to other clients. So you aren’t forced to pay someone full time if it’s not in your budget, but you can still reap the rewards of skilled marketing help to keep your business growing.
Typically, you will hire a fractional CMO for at least six months or longer, and they will develop and execute a comprehensive marketing strategy tailored to your business needs. Think, more leadership skills than hiring a freelancer, and more involved in the day-to-day than, say, a consultant.
What are the Benefits to Your Business?
There are multiple reasons you should seriously consider taking this route, especially if you’re growing and do not have a desire to hire a full-time CMO or marketing team.
1) You Save Your Business Money
Hiring a fractional CMO can be an excellent compromise for businesses on a tight budget that can’t afford to hire someone full-time until you’re in a better position financially.
2) You Improve a Lackluster Marketing Game
If you have no real strategy or plan in place, you’re essentially doing whatever you can think of and hoping something sticks. A fractional CMO can help you create a winning strategy and help execute it. They can also lead your team into performing optimally, resulting in the real growth of your business.
3) You Streamline Your Operations
Every business has to utilize its resources as efficiently and effectively as possible. If you’ve got someone overseeing marketing, but it’s not their forte, you might be paying them for subpar results. In addition to eating up time, they could put to better use doing tasks they excel at and leaving the marketing to someone who lives and breathes, well, marketing.
4) You Harness Fresh Perspective
Creative innovation is vital for any business, especially in the realm of marketing, which is always changing. Bringing in someone new allows you to gain fresh eyes that can evaluate your current strategies without bias and help you let go of tactics that may not be working as well as they once did. Fractional CMOs are professionals with cross-industry knowledge and experience that can use those skills for your benefit.
5) You Gain Massive Flexibility
Think about it. Hiring a full-time CMO is a commitment to one professional for a very long time, which ultimately may prove not to be as valuable as you thought when you first hired them. Hiring a fractional CMO is a short-term commitment, and if that person isn’t a great fit for your company, you can always try someone else relatively quickly to find the best fit for your marketing dollars. Plus, you can use any cash you save for pouring into new opportunities.
There’s really not much of a downside to hiring a fractional CMO. You get to make changes as your needs change, try out different ideas and marketing styles, and place your marketing initiatives into the hands of someone focused and experienced in growing a business. That frees you up to do all the other important things on your plate. We call that a win!