What is Fractional CMO ?
What is Fractional CMO ?
Bringing on a Fractional CMO is trending as a true form of payroll expense relief for small-to-medium businesses (SMBs). The fractional model is a form of growth hacking strategy savvy executives are implementing to escalate revenue growth while simultaneously reducing expenses. Utilizing fractional resources has become one of the best ways for any size firm to run lean while tapping into a source of experience and insight, for what sales and marketing strategy is working and just as important, what is not.
Innovative firms have embraced the concept of hiring the most experienced CMO professional available, only for the hours of consultation needed each month and for a fraction of the cost of hiring a full-time CMO.
Despite industry level salaries, often times, full-time CMOs are unable to leverage their time and Marketing strategies to accomplish the greatest ROI for the company’s growth.A Fractional CMO can become the right-hand to an existing CMO, as an outside, unbiased peer, to add valuable insights. Where there is no CMO, the CEO is usually forced to fill in the role of Chief Marketer and Chief Sales Strategist, whereas, a Fractional CMO, contracted for fraction of a full-time CMO’s salary, provides an on-demand perspective towards strategies, thereby, yielding customer acquisition and topline growth, allowing the CEO to gain back his title.
Simply put, top marketing heads quote Fractional CMO as “Economical, Impactful and highly Effective” for outsourced marketing.
When we consider what Fractional CMO is, it is equally important to know who actually needs a Fractional CMO and why! So, here are the answers.
- Companies that already have a team of marketing executives, who may be overwhelmed with running all campaigns, or they are unable to reach the objectives of their plans. In this situation, they need a Fractional CMO with the expertise in providing executive level instruction and perspective, and who can help lead the internal team and if needed, bring in additional, on-demand virtual resources to the reach the target growth level.
- Organizations with completely practical and influential CEOs, CMOs and company primary heads, ready to adopt external perspectives and ideas in their marketing models, need a Fractional CMO.
- Firms that are looking for a kick start in the market during their early stages, to acquire and maintain client acquaintances, can certainly benefit from a Fractional CMO hire.
- Management heads who are looking to execute and implement strategy, rather than plan and manage marketing campaigns and activities, are often delighted with the result, after hiring a Fractional CMO.
- Large companies with bloated, bureaucratic marketing departments who have a hard time accomplishing tasks with quick turn-around times or for minimal cost, need to consider bringing in a Fractional CMO.
The following lists some benefits of what you can expect when hiring a Fractional CMO:
- They sort out the best market opportunities and most insightful target audience based on experience with other clients, market research and analysis.
- They Pipeline the end-to-end sales engagement with a perspective known as ‘Full Funnel’ execution.
- They gather, segregate and optimize the most relatable content that appeals to and engages target audience to drive results and customer conversion rates.
- They keep an eye on growth rate, lead generation and customer acquisition costs, and execute the best strategic sales/marketing campaigns that will yield the highest ROI.
They insure that every task has ROI attached to it and ties to KPIs built into every campaign.
With an exceptional forte at CMO level marketing, a Fractional CMO can aid your business with increased flow of qualified leads, while building and maintaining a well-structured, cutting-edge sales & marketing strategy in the process, to win over competition and increase revenue.