You may have noticed that fractional CMOs (Chief Marketing Officers) are becoming increasingly popular. More businesses and marketing departments are turning to these additional resources to supplement their efforts.
Why is this the case? Why are fractional CMOs so popular? And when should you consider hiring one?
What Is a Fractional CMO?
A fractional CMO is, as the name suggests, very similar to a traditional CMO. Each candidate is a person with years of marketing experience, and generally experience as marketing leaders. These are people who can generate, run, and oversee a multitude of different marketing campaigns, and they have the leadership skills and business acumen to thrive in a traditional CMO position, if they wanted to.
However, the fractional CMO is distinguished by his flexibility and versatility. Instead of hiring a full-time CMO, you can hire a fractional CMO for a portion of the costs. You can also use a fractional CMO as a supplement to your existing marketing department, or harness their experience to solve a very particular marketing problem.
Why Companies Love Hiring Fractional CMOs
So why do companies love hiring fractional CMOs so much?
- They’re available. For starters, there is a diverse pool of fractional CMO candidates available, and that pool seems to keep growing bigger. On top of that, because fractional CMO candidates work on a flexible and often part-time basis, they’re much easier to recruit and hire than traditional CMO candidates.
- They’re flexible. Companies also appreciate that fractional CMO candidates are extremely flexible. Although there are some fractional CMO candidates who have specific working hours and arrangements in mind, or limitations for where and when they can work, most candidates are very accommodating, and the pool of candidates is big enough that you can always find such an option. If you only need a fractional CMO for a limited time, or if you only need them for a specific problem, you should have no issues finding a good fit.
- They’re inexpensive. Businesses also appreciate that fractional CMOs are inexpensive, at least relatively speaking. If you’re trying to run your organization as lean as possible, you may not need a full-time CMO; a fractional CMO is an excellent substitute. Hiring a fractional CMO may also be less expensive than contracting with a marketing agency, or bringing on teams of new full-time staff members. Compared to the benefits they confer, these candidates are ridiculously inexpensive.
- They have significant experience. As you might imagine, most fractional CMO candidates have many years, if not decades, of experience in marketing. This is a somewhat intangible, but easily noticeable benefit that can help your marketing department accomplish more.
- They often have specialized expertise. In line with this, many fractional CMO candidates have specialized expertise; they may be extremely skilled with respect to certain types of marketing strategies, industries, or verticals. This is particularly valuable if you’re looking for someone to solve a niche problem your organization faces.
- They bring fresh perspectives. Another major benefit of hiring a fractional CMO is that they can bring a fresh perspective to your organization. No matter how talented your team is, they are probably bogged down by preconceived notions, biases, and the manifestation of groupthink. When you hire a fractional CMO, you’ll often inject a healthy dose of outside perspective that can help everyone in your marketing department see the problems they struggle with in a different light.
- They help you achieve your goals. Whatever your high-level marketing goals are, a fractional CMO can help you achieve them. Are you looking to boost your conversion rate? A fractional CMO can help you uncover the optimization strategies to do it. Are you trying to work more closely with sales? A fractional CMO can coordinate your departments efficiently. Are you interested in rebranding and rebuilding your public image? A fractional CMO will provide guidance and direction to make it happen.
- They can adapt and grow with your business (or not). If you’re interested in growing your business and evolving your marketing strategies over time, most fractional CMO candidates will be able to help you. You can learn, grow, and adapt with your fractional CMO as they get to know your brand better. Of course, if you don’t want such a long-term relationship, that’s also acceptable; this arrangement truly is flexible.
The fractional CMO phenomenon is unlikely to go away anytime soon. This relationship is mutually beneficial, so both fractional CMO candidates and the companies that hire them have a vested interest in continuing this type of relationship. If your business is currently struggling with a specific marketing problem, or if you just need a little extra marketing expertise or leadership, consider exploring fractional CMO candidates that could be a good fit for your organization.
