Good help can be incredibly difficult to find—especially when it comes to qualified marketing talent. A great CMO can take your business to the next level. But finding the right marketing personnel is a challenge now more than ever as nearly 70% of employers are experiencing a major talent shortage. Enter fractional CMO services.
Getting adequate marketing support can be even harder for smaller businesses. Growing companies need a savvy team to develop strategies that align with their goals and growth projections— without paying an arm and a leg. Not only is the process of recruiting and hiring expensive, but bringing on a C-suite executive requires a fairly large salary and benefits package.
If your business has struggled to find a worthy CMO—or you aren’t ready to build an in-house marketing team—fractional CMO services could be the perfect solution.
Let’s discuss why.
What is a Fractional CMO Service?
In the simplest terms, a fractional CMO is an outsourced executive who provides consulting and strategic marketing services to a business. It is similar to hiring a temp to fill a position; however, in this case, it is for a C-level executive.
What does a fractional CMO do exactly?
There are a variety of fractional CMO services a company can choose from. For instance, if their main focus is building a website with fantastic content, a fractional CMO can take on this project. Or if the company wants to experiment with different campaigns and lead generation strategies, the fractional CMO will head these efforts.
There are countless benefits to working with a fractional CMO for small to medium-sized businesses. First, it is far less expensive than hiring a full-time employee, especially if your company is not quite ready to scale. The average salary for a CMO is over $175,000, but fractional CMO services are contracted based on the types of services provided. It’s far easier to fit into your marketing budget if money is tight.
The consulting aspect of fractional CMO services is also a key benefit. While your business is ultimately in control of what strategies are used, fractional CMOs offer years of experience and will pitch expert ideas.
Signs Your Company Could Benefit from Fractional CMO Services
Every company needs a competent marketing leader to organize, plan, and direct successful strategies. But how do you know if fractional CMO services are the right solution for your business specifically?
Your Marketing Efforts Aren’t Seeing Big Returns
First, take a look at where your company is currently and where it’s heading. If you’re running a brand-new startup or a relatively young business, chances are you don’t have a full-time marketing genius taking the reins. If your company has gotten off to a slow start and you’re struggling to capture new leads, a fractional CMO may be the right addition.
Your Current Marketing Team Needs Support
You can also consider adding fractional CMO services to help your current marketing team. According to the latest reports, 37% of marketing teams struggle to generate leads. Other common challenges included pushing out adequate content, reaching target audiences, and proving the ROI of their efforts. Bringing on a talented and experienced fractional CMO for assistance can give your team the support and guidance to execute strategies more effectively.
How to Find the Right Fractional CMO Agency
Although bringing on a temporary fractional CMO may not be as complicated as hiring a full-time exec, you still want to make sure they’re the right fit. There are many fractional CMO services out there.
Here are some factors to keep in mind when narrowing down your options to find the right one:
The most important factor to consider is the type of services your business needs versus what the agency specializes in. Be sure your goals align with the fractional CMO services offerings. Ideally, the provider will be proficient in a wide range of fractional CMO services to provide a strong marketing mix, including (but not limited to):
- Strategic digital marketing planning
- Content marketing
- Content creation
- Website and landing page design
- Social media
- Digital advertising
- Search engine optimization
- Search engine marketing
Take some time to dive into the agency’s previous work. They may have some past client testimonials published on their website. But don’t be afraid to take things a step further and do your own research. Check out their client websites—do you like what you see? Do they seem to be thriving and succeeding? How are their digital marketing presences, social media, and online content?
The cost of fractional CMO services can be a worthwhile investment. It’s best to work with a fractional CMO agency that provides regular reports, both to back up their strategies and prove their ROI.
Methodologies and Customized Plans
Before you sign on the dotted line, inquire about the agency’s approach and methodologies for their clients.
- Do they have a set system or will they personalize a strategy based on what your company needs? Will you have a chance to meet with the fractional CMO before they begin implementing strategies?
Over to You
Hiring a fractional CMO could make all the difference in the growth trajectory of your company. This type of agency offers countless benefits and can be the push your business needs to move to the next level.
If you have additional questions on what a fractional CMO does or if you want to learn more about our services, reach out and let’s talk!
We have helped dozens of companies reach greater success by serving as their fractional CMO and providing marketing expertise and guidance. Contact us today to see what we can do for you.