How to Find/Hire the Best Fractional CMO for Your Business
Every business needs a good marketing plan to grow, but not every business can hire a full-time marketing team. That does not mean you have to stop marketing. A part-time Chief Marketing Officer (CMO) can help you.
This guide to hiring a Las Vegas fractional CMO covers:
- Deciding between a factional and a full-time CMO
- Three core benefits of choosing a fractional CMO
- Five steps to finding the best fractional CMO for you
There’s a lot to discuss, so get ready to take notes.
Wondering what a Fractional CMO can do for your business? Watch this video below.
When to Hire a Fractional CMO Instead of a Full-Time CMO
Companies have made many adaptations to remain competitive amid uncertainties, including the cost of running and maintaining effective marketing strategies. One adaptation that is slowly taking hold in business is using fractional hiring practices for marketing teams.
You can more or less apply this method to any open position on a marketing team from the top down, such as the content writer, SEO specialist, and CMO. The latter, in particular, is vital for a small business because they bring the knowledge and expertise necessary for success.
Before you get to that, though, consider when to hire a fractional CMO instead of a full-time one:
- A fractional CMO is better for businesses running on a limited budget because they work on a part-time or project-based contract, making them the more cost-effective choice.
- Fractional CMOs fill in short-term needs or gaps in your marketing team, such as by lending their expertise or providing an outside perspective on your current marketing strategies.
- A fractional CMO brings practical experience from their previous projects, providing the necessary knowledge and skills that a full-time, in-house CMO might lack.
- As part-time executives at your business, fractional CMOs have an extensive network of other experts that they can tap into to help you achieve all of your marketing goals.
- A fractional CMO has greater flexibility in how and when they accomplish tasks, allowing you to better manage how to scale your marketing strategies or your business’s growth.
Before moving on, it is worth noting that a fractional CMO also differs from an in-house consultant. The former is a part-time executive hired to perform specific roles for the company and is hands-on. The latter gives advice or insight on projects and strategies.
3 Advantages of Hiring a Fractional CMO for Your Business
Now that you know when you should hire a Las Vegas fractional CMO, it is time to look deeper into the advantages that they provide for your business. Most of the value that fractional CMOs provide comes from their contractual status. Here are three benefits in detail:
1. Fractional CMOs bring variety, flexibility, and experience to the organization. Due to the nature of their status — working for multiple businesses at once, hence fractional — they carry these skills from job to job. That results in a high-performance expert joining your team.
2. As outsiders to your company, they are unaffected by internal politics and do not engage in power struggles. Therefore, they often bring an objective third-party perspective and a strong drive to produce results.
3. A fractional CMO is hired for a specific reason: to accomplish a list of critical tasks within a predefined period. That means accountability is a key selling point for them. They operate at high performance standards to maintain their employability.
5 Actionable Steps to Finding the Best Fractional CMO Now
When hiring a fractional CMO, you must consider several factors to find the best one for your business. While you might be hiring only one person, they can break your marketing plans if they are not right for the job. Here are five steps to hiring the best fractional CMO:
1. Evaluate Their Industry Experience
Although fractional CMOs have a breadth of experience in marketing, they are neither perfect nor all-knowing. In other words, a fractional chief marketing officer can only do so much for your business. Knowing that helps you find a good match.
Given this, look into their background, especially the types of businesses and industries that they have overseen. This can tell you whether or not they can manage the work you need done. Remember, the best marketing practices change between differing audiences and industries.
2. Review Their History with Success
Once you are sure they can manage the work and understand the demands of your business and your target market, the next step is to look at their success rate. That tells you a lot about their skills and abilities in crafting and executing winning marketing strategies for different businesses.
If you find a Las Vegas fractional CMO through a referral, ask your source about them. What was it like to work with them, and how successful were they at their job? If you find them on your own, do not hesitate to ask them about their previous experiences and successes.
3. Check Earlier Strategies and Plans
Understanding how they think about marketing problems and how they put together solutions is critical. Ask for a recounting or a walkthrough of their previous successful strategies and plans, if possible. Ask how they arrived at their different conclusions and how they can do the same for your business.
You can also share a recent problem your business has faced and test how they would have handled it had they been there. Use this to gauge how quickly and effectively they can strategize. You can learn more about their personalities and values through their approach to strategizing.
4. Find Someone Who Fits the Culture
Being culture fit and having excellent communication skills should be prerequisites for any CMO you hire, just as they would be for other positions at your business. Any potential conflicts within your marketing team can lead to unproductive and negative outcomes at your business’s expense.
Conflicts do not necessarily mean open confrontations. Friction can come from forcing opposing personalities together, significantly slowing any progress. Culture fit also refers to how the fractional CMO’s values measure up to and match with your business’s core values.
5. Ask about Their Current Availability
Finally, you should discuss and familiarize yourself with a fractional CMO’s available schedule. As mentioned above, they split their time among different client accounts since they work part-time. This means that your business only enjoys a fraction of their limited time.
Make sure you come to a clear understanding of expectations and reach a balance that allows them to provide the level of support that you deem realistic and timely. You should also discuss their availability for critical communications and updates with you or their teammates.
Hiring is not necessarily fun or easy. This is especially true when looking for executives to fill vital roles in your business, such as when you require much-needed expert advice or to level up your marketing strategies. To find the best match, you must consider factors that include experience and cultural fit.
Need help finding the best Las Vegas fractional CMO available? Contact Digital Authority Partners (DAP) to learn what we can do to help.
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