A Fractional Chief Marketing Officer (FCMO) is a marketing executive or consultant who offers marketing services to organizations on an as-needed basis. Fractional CMOs help companies by identifying and leading strategic initiatives that may be too complex for internal staff alone. In many cases, a Fractional CMO provides part-time (fractional) support when an organization doesn’t need or have the budget for executive-level marketing leadership on a full-time basis. Fractional CMOs usually have extensive marketing experience and provide expertise and strategic direction on a contract basis.
Advantages Of Hiring A Fractional CMO
Since Fractional CMOs aren’t full-time employees of the organizations they serve, there are several advantages of working with them as opposed to having your own marketing team or agency.
- Marketing expertise – You can benefit from the Fractional CMO’s experience of working with many organizations. This means they understand multiple markets and industries while being able to forge relationships with a wide array of executives.
- Access to marketing resources – Fractional CMOs provide leadership that would otherwise be too costly for a small or mid-sized company. They can help you access marketing tools, technologies, and personnel to complete tasks efficiently.
- Ability to scale marketing efforts – It’s easy to scale your marketing efforts up or down depending on your needs and budget. Plus, you aren’t locked into a long-term agreement and can easily reduce services when you need to.
- Cost-effective solutions – Hiring a Fractional CMO is more cost-effective than hiring an agency or full-time personnel because you’re only paying for the specific marketing services you need without the overhead burden of in-house marketing specialists, insurance, PTO, and other employee benefits. When projects are completed, you can end the agreement with the Fractional CMO without any ongoing financial commitments.
- Experienced marketing professionals – Fractional CMOs usually have an extensive network of skilled marketers in a variety of functions. Fractional CMOs provide them with strategic direction so they can easily complete tactical functions.
Potential Challenges When Working With A Fractional CMO
While there are many advantages to working with a Fractional CMO, nothing is perfect and there are a few considerations to think about before beginning a collaboration like this:
- Adequate spin-up time is needed – Since Fractional CMOs provide marketing services on an as-needed basis, it might take some time to gain a comprehensive understanding of your objectives and to develop appropriate strategies before the team can dive into implementation and deliverables.
- Communication preferences – Communication is key when it comes to success, but communication can be challenging, especially when there are numerous communication channels available. It’s important to ensure the Fractional CMO has a clear and consistent understanding of your marketing goals and objectives. It’s also important to make sure your communication styles are aligned.
- Buy-In is essential across departments – When working with a Fractional CMO, it’s essential to have buy-in from each of the stakeholders and departments. This can be more difficult than it sounds and working with a Fractional CMO can highlight areas where this is not happening. But this can also be positive because more than likely the alignment and buy-in needed to happen anyway.
Tips For Choosing The Right Fractional CMO
There are multiple Fractional CMO firms available to you, so it’s important to know what to consider so that all of your expectations are realized. Here are some tips:
- Research Fractional CMOs with similar expertise as the industry you’re in to ensure they fit well with your marketing goals.
- Ask for references from previous clients to get a better idea of their work and communication style.
- Be sure to discuss any previous or existing marketing objectives and strategies beforehand so both parties are on the same page.
- Have an idea in mind for how you want progress and success to be communicated and make sure to ask the Fractional CMO if they can accommodate it.
Final Thoughts
When it comes to marketing, a Fractional CMO can provide the expertise and resources needed without committing to an expensive marketing team or agency. By leveraging experienced professionals and cost-effective solutions, you can get the services you need without incurring unnecessary costs.
Gladiator offers Fractional CMO services, giving businesses access to marketing professionals who understand their objectives and needs. With our expert resources and strategies, we can help your business achieve its goals. Contact us today to discuss how Gladiator can fulfill the role of a Fractional CMO for your organization.
