What is a Fractional CMO?
The concept of a Fractional Executive isn't exactly new. It's on-demand leadership for companies that are growing or are in transition. And with the explosion of growth-stage businesses and incubators—more and more businesses find themselves needing part-time senior leadership for various functions. So in a nutshell, a Fractional CMO is an experienced marketing leader who can help with your marketing needs on an interim or part-time (fractional) basis.
Fractional CMOs are still a new concept—but other business functions such as finance, HR and IT have embraced fractional leadership more and more over the past few years.
Why use a fractional CMO?
Your Fractional CMO can:
jump in and keep marketing programs running (or create new ones)
lead and mentor a marketing team (of any size) while the company hires a full-time leader
crystalize messaging, product strategy or go-to-market plans
create and execute programs or campaigns
advise an existing marketing team about best practices
become a member of a company's leadership team-audit or do a needs analysis to focus efforts on highest-return activities
deliver industry and competitive insight
A fractional CMO can be the outsourced marketing department you need, at exactly the right level of engagement. That's because most fractional CMOs also have an extensive network of specialist vendors that they can pull in to cover your exact need.
And with budgets tighter than ever, having the ability to ramp up a marketing department without investing full-time resources might be exactly what your growth curve needs.
Getting the right fit
Personality also has a huge part in this. You need to feel as comfortable with your fractional CMO as you would if this was a full-time member of your team. Make sure you sit down face-to-face, even if the CMO will be working remotely, so you can make sure the chemistry and the 'vibe' are right.
And like all consulting arrangements, make sure the terms of engagement are clear and then set regular touch-points to keep up with progress.
If you are interested in learning more about how a fractional CMO can help your business, drop us a line at letstalk@yourfractionalcmo.com.