A CEO juggling all the roles makes it a perfect time for a fractional CMO to step in
Hey there, busy CEO! I know you’re juggling a million things, and handling marketing might feel like the last straw. So, let’s chat about something that could make your life easier: hiring a Fractional CMO. You might be wondering, “Is a fractional CMO really worth it?” And what about the fractional CMO salary? Let’s dig into this together and see if it’s the game-changer you need.
What is the Fractional CMO Model?
So, what’s the deal with a Fractional CMO? Think of them as your part-time marketing superhero. Instead of committing to a full-time CMO, which can be a big investment, you get a top-notch marketing expert on a part-time basis. It’s like having your cake and eating it too! (Hope you like cake!)
Imagine having the strategic brilliance of a seasoned CMO without the massive price tag. Need some proof? Just check out the discussions on Fractional CMO on Reddit. Business owners are raving about the flexibility and expertise they get from this model. And guess what? You could be next! According to recent surveys, companies that utilize fractional executives see a 20-30% increase in efficiency and a 15% boost in revenue within the first year. Forbes actually claimed a 33% average revenue boost when bringing on a fractional executive! And the Wall Street Journal boasted a 50-70% savings on labor costs!
Speaking of costs…
How Much Does a CMO Charge Per Hour?
How many hours does a fractional CMO work?
Let’s talk dollars and cents. How much does a fractional CMO charge? Typically, they bill by the hour or by a fractional CMO day rate. Rates can vary, but you’re looking at anywhere from $200 to $550 per hour. Sure, it might sound like a lot, but think about the return on investment. A savvy fractional CMO can craft strategies that boost your growth and revenue significantly. For example, businesses that hired fractional CMOs reported an average revenue growth of 25%+ over 12 months. That must be why 92% of businesses who contracted a fractional CMO say they wish they had done so sooner!
Just to be clear, most fractional CMOs don’t charge by the hour. They typically charge based on a retainer or the project itself and what they charge is typically based on the scope of the project, the timeliness of it and the value of the project.
What is a Fractional Contract?
What’s a fractional contract all about? It’s pretty straightforward. You hire a marketing pro to work a set number of hours per week or month. No need to shell out for a full-time salary or benefits. These fractional jobs are ideal for getting high-level expertise without the need for an engagement ring. Plus, you can adjust their hours based on your needs. How awesome is that? In fact, 60% of small to midsize businesses have shifted to fractional contracts to better manage their budgets while accessing highly experienced talent.
How Much Does a Fractional CEO Cost?
While we’re at it, let’s touch on fractional CEOs. The concept is similar: you get an experienced leader part-time. Depending on their experience and your business’s needs, you might pay between $300 and $1,500 per hour for a fractional CEO. It’s all about getting the stellar leadership you need without the full-time cost. Studies show that companies employing fractional CEOs see a 35% increase in operational efficiency and strategic direction.
Benefits of a Fractional CMO
So, back to the original question: is a Fractional CMO worth it? If you’re swamped with marketing tasks and need a hand, the answer is a resounding yes. If you want to stop leaving 25-33% of your revenue on the table, then the answer is YES! If you’d like the expertise and would like to save 50-70% on the labor cost, the answer is yes! With a fractional CMO salary that’s manageable and the flexibility to adjust their involvement, this model offers a cost-effective way to enhance your marketing efforts.
Ready to see how a fractional CMO can elevate your business? Get in touch with Invictus CMO and discover how we make your investment in a fractional CMO pay YOU through our guaranteed lead generation tactics. Schedule your CEO Flash Focus today! A preliminary focused and high-level 15-20-minute meeting with CEOs to highlight their main challenges. No selling. Just solutions! Your revenue is waiting.
Contact us today to learn more about how a fractional CMO can transform your marketing strategy. Let’s make your life a little easier and your business a lot more successful!
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