What is a Fractional CMO and Why Hire One?

Whether you’re the head of an established family owned business or the founder of an early-stage start-up, if you’re reading this, you’re likely concerned with the same challenge: 

Growth.

While there’s more than one path to a successful growth strategy, marketing can – and often should – play a critical role in your company achieving more revenue. 

But businesses owners and founders are often too busy with other aspects of running a successful company to be craft and implement a smart, modern marketing strategy. 

Enter the Fractional CMO.

A Fractional CMO is a part-time, freelance strategist who helps guide business owners with marketing strategy. Companies receive the expertise of an experienced executive but at a fraction of the overhead cost and over a constrained time period.

Each company – and each growth goal – is unique. But the benefits of a Fractional CMO are almost universal. Take a look below at the three reasons why partnering with a Fractional CMO might be the smart move for your company today. 

Crawl, Walk, Run Approach

Does your company have a comprehensive marketing plan? Do you have a modern, digital website and presence that’s driving inbound leads? Is your Sales organization flush with sales enablement collateral?

Too often, companies dive head first into the world of marketing and try to accomplish everything. And by the end of the week. 

A more impactful approach is slower, methodical and restrained. Instead of throwing money into the furnace and immediately hiring a team or agency, documenting your current state and establishing realistic goals is likely going to set up your organization for long-term success. Together, we’ll crawl (discover your current state of marketing), then walk (set realistic and trackable goals and plans) and then run (activate and drive leads). And then do it again. 

Fractional CMO vs. an In-House Hire

The Chicago-based recruiting and staffing agency Robert Half reports that a well-experienced Chief Marketing Officer commands at least $205,500 on the open market.

That’s a hefty price tag for an organization that might not even have a clear direction of how a marketing strategy might help drive results. 
But it’s also not the full, true cost of an internal hire. 

The federal government, through the U.S. Small Business Administration, reports that the true burden on an employer of an employee is between 1.25 and 1.4 times the base salary. 

So, I ask: Is your company ready to spend $287,000 on an in-house marketing hire before clearly assessing your current capabilities, gaps and goals?

Low Risk, High Reward

Can your organization afford a costly misfire? 

Don’t worry if you immediately said “no.” That’s a bit of a trick question because most can’t. (And if you said “yes,” perhaps you skimmed over the $287,000 figure.)

A Fractional CMO engagement is a limited term, low risk partnership that can yield high, impactful rewards. You can dip your toe into the market, while strategically planning for more robust, more complicated marketing over the next few years. 

If this resonates with you – or you’re curious to ask questions – please don’t hesitate to reach out. We’ll set up a time to meet, listen to each other and discuss a potential partnership. I look forward to it.