Why Companies are Turning to Fractional Marketing Leaders
Businesses are constantly changing the way they work, including relying more on the gig economy to get work done. With more than 1.1 billion on-demand gig workers worldwide, there is no shortage when it comes to finding the talent you need for your team.
One of the most efficient ways to get work done is by hiring someone who can dedicate an exact amount of time to your business, whether it's a few hours or a couple of months. However, instead of committing to full-time hires, companies turn to Fractional Marketing. Leaders rather than Fractional CEOs. This blog will cover what is causing this shift and why companies now prefer to choose a fractional CMO.
Wondering what a Fractional CMO can do for your business? Watch this video below.
What Is A Fractional CMO?
A Fractional CMO is someone who comes on board to help your company with the strategy, planning, and executing marketing plans. Not only are they great at helping you develop the right marketing plan for your business, but they can also help you grow your brand in this rapidly changing world of digital marketing.
The CMO position has one of the highest turnover rates. The average CMO only stays in the role between 1 1/2 to 2 years. It can be hard to find and retain the talent you need. Having an open leadership role this big is not ideal, especially when we live in a digital age that demands companies to focus on digital growth and ROI. That's where hiring a Fractional CMO becomes essential for most companies.
Fractional CMOs Save Companies Time And Money
One of your primary concerns is saving both money and time as a business owner. When it comes to CMOs, you may have the option to hire someone for an interim basis or go through the process of finding someone long-term. Unfortunately, hiring an interim leader can take valuable time away from running your business, while searching for a full-time candidate could take months.
With Fractional CMOs, you get all the benefits of having a full-time employee without any of the risks or headaches that come with hiring them full-time. As a result, our Fractional Marketing Leaders can help businesses grow their brands through digital marketing. While still giving them the freedom to take on other tasks outside of marketing.
When Should I Consider Hiring A Fractional CMO?
There are many reasons why companies are turning to Fractional CMOS rather than full-time talent. Still, three of the top reasons are that it requires less time commitment, saves companies money, and allows them to focus on their core competencies. First, however, here are some situations where you should consider hiring a Fractional CMO.
1. Your Marketing Team Is Lacking Direction
Suppose your company lacks a clear vision or goals of where you want to go. In that case, a Fractional CMO will help provide the support and direction needed to get you going in the right direction. In addition, this type of marketing leader will work with you to develop the right strategies for growing your company.
2. You're Struggling With A Skills Gap
Another important factor when hiring a CMO is finding someone who understands how to deal with skill gaps within your business. It can be not easy if you don't know where they are or how to fix them. By hiring a Fractional CMO, you don't need to worry about these skill gaps, as they can help your business improve in lacking areas, all while still focusing on sales and marketing.
3. Your Business Is Not Achieving The Growth You Needed
If your business isn't growing fast enough or meeting your goals, it may be time to bring in some outside help. By hiring a Fractional CMO, you're hiring a professional who can evaluate your progress towards your business goals and create a plan to help you achieve them successfully.
4. Your Company Needs A Highly Skilled CMO
Whether you're a small business with a few employees or a large company with thousands, scaling your marketing plan will need to be done by someone who understands how different channels can fit together. Not only do you want to find someone who can understand these big picture concepts, but they should also have the skills to execute them to get the results you need.
5. You Only Need Temporary Leadership
There may be certain situations in which you only need a Fractional CMO for temporary help or cover for an employee on leave. However, it is crucial for companies that may not have the budget to hire someone full-time. A Fractional CMO can be employed as needed and will work with your business to complete the tasks at hand before they move on to their next project.
How Do I Hire A Fractional CMO?
Now that you know when it's an excellent time to hire a Fractional CMO, it's essential to learn how you can go about finding the right one for your company. Once you have an idea of what you're looking for, you can begin reaching out to agencies and professionals who work as or have a team of Fractional CMOs. Be sure to speak with any potential companies and ask about their experience to determine if they would be a good fit for your company.
You'll want to ensure you're speaking with someone who can give you a clear understanding of how their team works and what they offer. Ask any potential Fractional CMOs to go over services and the types of companies they work with. Ask for samples or a portfolio of brands they've worked with in the past.
Find The Right Fractional CMO For Your Company Today
Fractional Marketing Leaders can help you save time and money when finding a marketing leader for your business. As an established digital company, we have the connections and expertise needed to find the perfect fit for your company's marketing needs. Our main goal is to help you grow your brand through digital marketing while also saving you valuable time and money in the process.
Click here to learn more about our Fractional CMO services if you're ready to get started.
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