Many businesses now hire a fractional CMO (Chief Marketing Officer) whenever they need outside support for their marketing department. There are a variety of situations that benefit from such external expertise.
But who exactly benefits from hiring a fractional CMO? And in what situations is hiring a fractional CMO truly worth it?
The Basics of Fractional CMOs
We can break down the fractional CMO into two components: the CMO component and the fractional component. Each fractional CMO candidate typically has the experience and qualifications necessary to become a traditional, full-time CMO. These are typically people with impressive credentials, a history of work as marketing leaders, and the leadership and creative abilities necessary to help them thrive in any marketing environment.
Additionally, fractional CMO candidates are capable of working on a fractional basis. Depending on the context, that could mean working full-time for short stretches of time or working on a part-time or contractual basis.
Fractional CMOs can have a variety of specialties. They might be generalists, capable of unifying your marketing department and creating overarching strategies. They might also be specialists, capable of helping you solve specific problems or incorporate new tactics into your marketing approach.
Either way, they have the potential to take the place of a traditional CMO in your organization, supplement your marketing department with extra intellectual power, or simply serve as a consultant, offering direction and guidance.
Businesses That Can Utilize Fractional CMOs
What types of businesses can utilize fractional CMOs?
Essentially, all types of businesses. Nearly every business needs some kind of marketing strategy if it’s going to be successful. And nearly any business with marketing needs can potentially benefit from a fractional CMO candidate. Even if you’re generally satisfied with your marketing results, they could always be better, and a fractional CMO can help you push that ceiling higher.
Part of the reason we can make this assertion is because fractional CMO candidates offer such a wide variety of skills and are available in such a wide range of capacities. If there’s only one minor issue in your marketing department, and you only need a fractional CMO for a couple of weeks to iron things out, that’s perfectly acceptable. Other businesses strongly benefit from using fractional CMO candidates on a revolving basis as a substitute for a traditional, full-time CMO, simultaneously saving money and keeping a rotation of fresh perspectives in their organization.
Situations When a Fractional CMO Is Especially Valuable
That said, there are some situations when a fractional CMO is especially valuable to an organization:
- You’re stuck on a marketing problem. The classic situation for hiring a fractional CMO candidate from a hiring platform is when you’re stuck on a specific marketing problem. For example, you might not know how to reach a specific target demographic, or you might be struggling with a particular channel or platform. Your fractional CMO can bring niche expertise to your organization, so you can address whatever seems to be holding you back.
- You’re launching a new product. If your business is launching a new product, you could probably use some additional help with branding, promoting, and supporting. A fractional CMO with product marketing skills could be indispensable here.
- You want to try a new marketing strategy. Are you interested in trying a novel marketing strategy? Or a new angle for your brand? A fractional CMO can help you do it gracefully.
- You’re ready for a rebrand. Rebranding can be a great way to breathe new life into a stagnant brand. However, it’s also a massive undertaking that needs to be handled responsibly for both your current and future audiences. A fractional CMO could be exactly the type of temporary brain power you need to be successful here.
- You’re reshaping your marketing department. You might also consider a fractional CMO if you’re in the process of reshaping or redefining your marketing department. As an outside, authoritative voice, they can be valuable in helping you rebuild effectively.
- You need fresh, outside perspective. Similarly, you can hire a fractional CMO if you need some fresh, outside perspective. Many large organizations and marketing departments struggle with groupthink and creative stagnation, which fractional CMOs can easily help with.
- You have variable marketing needs. If your marketing leadership needs are temporary or inconsistent, a fractional CMO can help you close the gap.
- You just need some extra support. And of course, you might want to hire a fractional CMO if your marketing department just needs a little extra manpower.
If you find yourself in any of these positions, consider hiring a fractional CMO to relieve the pain. With the right fractional CMO candidate and the right environment to support them, you can solve almost any marketing problem and multiply your results many times over.