How To Know If You Need A Fractional CMO
Is a Fractional CMO Right for Your Business?
When your orgnaization is growing rapidly, sometimes your marketing needs don’t scale uniformly. You may need specialized marketing and strategy services to help you transition through different stages of growth. Most companies have had to choose between options that were less than ideal or that didn’t fit their specific growth trajectory, our Fractional model offers custom options that can be molded to fit your organization perfectly. How do you know when you’re ready to hire a Fractional CMO? Keep reading.
A Fractional CMO may be an ideal solution for your organization under the following circumstances:
You Have a Limited Budget: If you’re seeking the expertise of a Chief Marketing Officer but are apprehensive about the associated costs, a Fractional CMO provides you with access to top-tier strategic leadership without the commitment to a full-time salary. A full-time CMO can easily cost your company more than $250,000 with salary, bonuses, and benefits. A fractional CMO allows you to get the expertise and advice you need at a fraction of the cost.
Your Internal Marketing Team is Small: If your team is bereft of marketing specialists, rest assured that a Fractional CMO can offer comprehensive assistance, spanning from devising robust strategies to their meticulous execution. You may have a couple of marketing personnel that are specialists in one marketing discipline or another but lack the experience and expertise to design, execute, and improve tactical and strategic plans. A fractional CMO can step into your organization and assess not only how to move your sales and marketing efforts forward but also can address your human capital needs.
You Are Working With an Ineffective Marketing Strategy: If your existing marketing endeavors are yielding subpar results, it is prudent to reevaluate and adjust. The expertise of a Fractional CMO can guide you in recalibrating your approach to optimize performance and returns. One of the most consistent reasons companies engage a Fractional CMO is that their marketing just isn’t working, and there is a realization that to continue throwing time and resources at the strategies is a failing endeavor. A Fractional CMO should be able to step into your organization and, in relatively short order, diagnose what is working and what is not. This information will allow you to course-correct quickly to drive new and better results.
Collaboration with Junior Marketers and/or Freelancers: Leveraging a Fractional CMO can enhance the output of your in-house junior marketing team or freelance collaborators. They craft overarching strategies and institute the necessary systems to ensure that such strategies are effectively implemented. A skilled Fractional CMO will be able to marshal all of your organization’s resources and employ them toward a new and better marketing strategy. Many Fractional CMOs will build and train internal marketing teams as an additional service.
Looking For Funding or To Be Acquired: If your objective is to secure a new round of funding, a Fractional CMO’s experience and insights can be invaluable. They possess firsthand knowledge of the intricacies involved in fundraising and can guide you through the nuances of the pitch process with potential investors.
Ready to take your company’s growth to the next level?
Schedule a no-obligation discovery call today to learn more about engaging a Fractional CMO
