Heading up a marketing team is a difficult task. Moreover, the effectiveness of the leadership can have a significant impact on the overall success of your business. According to a recent survey, 86% of marketers stated that the “lack of leadership depth and capabilities has resulted in missed revenue, growth, and customer acquisition opportunities.”
Fractional CMOs are similar to consulting services. Instead of just offering up ideas and suggestions, a fractional CMO will guide your team to make things happen.
Now, you may be thinking that this all sounds too good to be true – and there must be a catch, right?
This is why it’s very important to set realistic expectations if you’re looking to hire a fractional CMO. You need to know exactly what they can do and exactly how they can support your growing company.
Let’s discuss the biggest expectations versus realities of hiring a fractional CMO.
Expectation: They’ll Completely Take Over Your Marketing Strategies
One concern that many business owners have when it comes to partnering with a fractional CMO is the loss of control. Since the CMO is responsible for heading up the entire marketing department, they tend to have the final say on budget allocations, campaigns, and strategies.
But business owners fear that a fractional CMO is going to overtake all aspects of marketing. This could potentially ruin the company’s brand reputation or dry up its financial resources.
Reality: A Fractional CMO Empowers Your Marketing Team
The reality is that while a fractional CMO takes over the position as the head of marketing, your company is still very much in control. They are intended to step in as a leader – not to take over the task of marketing completely.
That said, a fractional CMO will help your marketing department accomplish set objectives, such as:
- Driving in more leads
- Establish a set marketing strategy
- Increase email lists or online engagement
- Manage digital advertisements
- Create marketing reports and track results
- Discover new tactics or technologies to improve marketing efforts
Essentially, a fractional CMO will help to monitor the day-to-day tasks and support your marketing team as needed. But when it comes to major decision-making, that will still fall to the company leaders – so you don’t need to fear that the fractional CMO will take over.
Expectation: They Will Push for a Major Rebrand
Hiring a fractional CMO means that there will be a lot of changes to your marketing department. If your business hasn’t been growing for a while, you know that many of these changes will be necessary.
Since a fractional CMO’s job is to improve your business’s marketing outcomes, they may suggest some fairly significant alterations to your current strategies. But there is always the risk that comes with testing new strategies or altering your brand in any way.
Reality: They Will Enhance Your Branding Initiatives
A good fractional CMO is here to improve your business, not to take it over. While a rebrand may be necessary in some cases, chances are that the fractional CMO will instead work to find ways to improve the work your marketing team is already doing.
Now, it should be noted that if you are looking for a more hands-on service that will take over marketing tasks, you’re better off working with an agency rather than a fractional CMO. Again, the fractional CMO is meant to step in as a leader and support your team, but they won’t be taking over the grunt work/fulfillment tasks.
Reality: Work with a Fractional CMO as Much (or as Little) as You Need
You are in control of how long your fractional CMO works with you. Their work is contracted for a set period, such as for a few months, a full year, or until a campaign wraps up. This gives you control over how much the services will cost and how long a fractional CMO will be part of your team.
Fractional CMOs want to help your business succeed. Part of their purpose is to set up systems that your marketing team can follow to effectively carry out strategies and complete their work more efficiently. By hiring a fractional CMO for even a short time, you can see lasting effects for years to come.
If your company has been struggling to hit marketing objectives or you need a qualified leader to step in temporarily, consider hiring a fractional CMO. These services can make an impressive difference and help to set your marketing team down the right path for even better results in the future.
Thinking of bringing on a fractional CMO in the near future? River Avenue Digital can help to answer any questions or concerns you have about these services and see how our team can help. Contact us online to get the conversation started.