Businesses of all sizes can reap the rewards of having a fractional Chief Marketing Officer (CMO) on their team. A fractional CMO is a marketing director who works on a contractual basis, dedicating only a fraction of their time to the company, usually just a few hours a month. This type of hire offers Fortune 500 experience at a fraction of the cost of a full-time hire. A fractional CMO can bring fresh ideas and knowledge to your business, helping you identify ways to improve your marketing and branding efforts.
They can also take an objective look at your organization, developing ready-to-use solutions for any issues you may have. A good fractional CMO should have experience and knowledge in marketing, including digital marketing, advertising, social media, and SEO. They should also be able to manage the daily responsibilities of the marketing team and focus on the company's long-term objectives. Hiring a fractional CMO for around 10 hours a week or 40 hours a month is often the best option.
Companies still have access to a senior marketing leader, but at a fraction of the cost. From early-stage start-ups to established brands, CEOs in various industries are increasingly recognizing the advantages of fractional executives, particularly when it comes to CMOs or Chief Growth Officers (CGOs). Ray Smale and George McGowan, executives at InterimExecs RED team, have shared their marketing insights from their careers and when it makes sense to hire an interim or fractional executive for a CMO or CGO position. A fractional CMO can direct the organization and execution of a fractional marketing team to scale growth rapidly and increase the company's value in the exit horizon.
We believe that for a fractional CMO model to be successful, they must not only create an effective strategy for their company but also execute it using both internal and external resources. A fractional CMO has many responsibilities when trying to revolutionize their company's marketing initiatives.
