When it comes to hiring a fractional CMO, the cost of their services can vary greatly. This is because their annual salary depends on their rate and the number of hours they are hired for. An experienced fractional CMO should be able to accurately assess your needs and provide a quote for the project, rather than charging by the hour. In other words, the cost of a fractional CMO should be a small part of the revenue growth it generates for your company.
The main difference between a fractional CMO and a marketing director is the hours they work and the salaries they receive. If you are considering if a fractional CMO is right for your company, this will be one of your first questions. When evaluating a fractional CMO, it is important to consider their results. The right fractional CMO for your needs should have measurable results that demonstrate their skills and abilities.
You will still need to invest in marketing, but you will get a higher return on investment if you work with a fractional CMO. The benefit of working with an Authentic Brand fractional CMO is more than just the dollar-for-dollar cost savings. An average hourly rate is a good starting point for understanding the cost of a fractional CMO. Part of the value equation of a fractional CMO is to consider how quickly they can make a significant difference in your company.
The popularity of “fractional CMO” has led to several organizations claiming to offer fractional CMO services. As a result, the fractional salaries of CMOs represent only a fraction of the cost of salaries for marketing managers. A so-called fractional CMO that is an expert in two or three tactics can generate some growth in revenues and, at the same time, incur a high opportunity cost. These “flying overhead” fractional CMOs are much cheaper than hiring a full-time CMO and can offer considerable wisdom to small businesses.
In fact, one of the benefits of working with a fractional CMO is that you can start with a smaller budget.