Hiring a fractional CMO for around 10 hours a week or 40 hours a month is often a great idea. Your fractional CMO will begin by auditing your current marketing efforts and creating your business development strategy and marketing plan. Then, they will prioritize initiatives, help with budgeting, allocate available resources, and set up a reporting and accountability structure. Generally, a fractional CMO is responsible for improving positioning, differentiation, messaging and branding and, at the same time, developing plans and campaigns to increase current customer revenues, increase potential customers and improve customer quality, as well as organizing strategic initiatives, such as product launches or penetration into new markets.
No meeting should be one-sided. Make sure you give your team plenty of time to ask any questions they have. There will be a lot of uncertainty surrounding a fractional marketing leader, so it's important that you give them the peace of mind to share their opinions and comments about your new plan. They hired a fractional CMO from The Marketing Blender to create a potential customer and a new marketing and sales manual in a virtual world.
A consultant will be happy to schedule a call with your team, but a fractional CMO is ready to dive deeper into the daily operations of your marketing department. The most significant difference between a fractional marketing director and a full-time CMO is the total cost. Another common challenge faced by a fractional CMO is how to develop an engaging customer experience. If your marketing strategy seems disjointed or you don't have the approval of your entire team, a fractional CMO will create a framework of key performance indicators (KPIs) to ensure that everyone is focused on contributing to the company's objectives through marketing initiatives.
A fractional CMO has numerous responsibilities to participate in when trying to revolutionize a company's marketing initiatives. The biggest difference between a fractional CMO and a marketing agency is that an agency's consultants don't dedicate the same type of work to their clients. A fractional CMO is usually available as a contractor immediately and is incorporated quickly, focusing on the business issues in question to achieve the objectives sooner rather than later. The most important part of hiring a successful fractional CMO is finding one who has experience and knowledge in marketing, including digital marketing, advertising, social media, and SEO.
A fractional CMO (marketing director) is a contractual marketing executive who helps grow revenues, optimize marketing and sales, and develop strategies. However, the amount of money that business executives need will also depend on how long they plan to hire a fractional CMO. If you hire a fractional CMO instead of a full-time executive, you'll save up to 50% and be able to hire the best talent. A good fractional CMO will need to manage the daily responsibilities of the marketing team and focus on the company's long-term objectives.
A fractional CMO brings an external perspective to your company and allows you to build on current strategies while highlighting new opportunities.