What is a fractional CMO? Why should your startup hire one?
For Challenger Brands to successfully take on their industry’s leaders, navigate uncertain times and find a secure foothold, they need a marketing plan with backbone, designed by someone who truly understands strategic marketing and the Go To Market process. Typically, this is something left to a full-time CMO.
But, what if you don’t have the budget to hire a full-time CMO, or the marketing experience to really drive customer acquisition? That is where a Fractional CMO comes in. As someone you hire on a short-term basis, a Fractional CMO is a solution that offers the in-depth experience you need, without the high levels of commitment and risk.
Here, we outline five reasons why you might feel it’s time to use the startup marketing consulting services of a Fractional CMO.
When it comes to the strategic marketing process, Fractional CMOs are quick hires that deliver value immediately. With a full-time CMO, there’s a lot of important but less pressing issues for them to take care of day-to-day. With a Fractional CMO, a deadline is mapped and a strict timescale is outlined. By the time that deadline comes around, you’ll be secure in the knowledge that whatever you need reworking or building is done to the highest of standards.
Generally, Fractional CMOs promise senior experience for less equity. In Canada, according to payscale.com, the average annual salary for a CMO is over $148,000. With a Fractional CMO you’ll be getting the same (if not better) expertise for a fraction of the price. Whether it’s building a marketing strategy from the ground up, devising a long-term social media and content plan or harnessing SEO to your advantage, a Fractional CMO’s vast experience in building real brands is invaluable. As with any role, there’s also the benefit of having an outside voice and fresh perspective, and having someone see your brand as part of the bigger picture.
If you’ve ever built a business you’ll know the hiring process is time-consuming, costly, and there’s a risk you might end up hiring someone who’s not quite right for you and your brand. Especially when it comes to hiring a CMO, the process can typically take up to a year. Hiring a Fractional CMO alleviates that risk by bringing in the startup marketing consulting services you need to propel your brand forward, without raising your risk during the hiring process.
As well as reducing your risk in the short-term, hiring a Fractional CMO reduces your risk in the long-term. How? By buying you time. With that time, you can better refine your marketing strategy which, in turn, will better streamline and optimize the process of bringing a full-time CMO onto the team. Because of a Fractional CMO’s understanding of your brand and what is needed when it comes to hiring a CMO full-time, they can help guide you through that process too, ensuring you find the right candidate for the job.
Due to their wide, varied experience learned through offering their marketing consulting services to all manner of brands, Fractional CMOs tend to have better productivity and make fewer mistakes. From growing your reach and impact externally, with sales and marketing, to mentoring and guiding your employees internally, Fractional CMOs provide a deeply strategic but holistic service. Whether you already have a marketing team or not, a Fractional CMO’s level of expertise will work around existing infrastructure without friction or imbalance.
5&Vine’s Fractional CMO Services
Our marketing planning process includes articulating your go-to-market, reframing your brand’s narrative and producing tailor-made strategies that promote growth and customer acquisition. If you want to know more, we strongly recommend checking out our recent case studies here. Alternatively, if you’re ready to elevate your brand to the next level, you can get in touch with us.