A fractional CMO is known for their flexibility and agility able to tackle the tasks on an as-needed basis.
In today’s dynamic business landscape, CEOs and COOs of growing companies often find themselves needing seasoned marketing expertise without committing to a permanent executive position. This is where a Fractional CMO comes into play. But when is the right time to bring one on board? Let’s explore the key indicators and benefits of hiring a fractional CMO and how they can truly impact your business through a cohesive, nearly magical marketing strategy. Curious about the best fractional CMO companies and how they can meet your business needs? Let’s get going!
Is it Necessary to Have a CMO?
First, let’s tackle the question: is it necessary to have a Chief Marketing Officer (CMO)? For many businesses, especially those in the $5M-$50MM revenue range, the answer is a big, fat YES! A CMO provides highly strategic direction, ensures consistent brand messaging, and aligns marketing efforts with your business goals. They are important to have at the BEGINNING of a business so that you can start on the right course right off the bat. If a plane deviates even a few degrees from its course it could mean the difference between New York to Los Angeles and New York to China! (Ok. Small exaggeration there, but you get the point. Even small degrees make big differences when you’re steering something as significant as a business.) CMOs are crucial for steering marketing campaigns that drive growth and build brand equity. However, it’s understandable that not every business can afford a full-time CMO, which is where the fractional option becomes an attractive solution.
Why Do You Need a CMO?
Let’s get into more of the specific reasons for having a CMO in the first place because they are essential for several reasons. They bring a wealth of experience and a strategic perspective that is invaluable for business growth. My favorite reason that I won’t go into in great detail is their ability to help eliminate tunnel vision. But perhaps I’ll share some case studies in another article some other time. For now, let’s just share some standard reasons as to why you need one:
- Strategic Vision: A CMO can develop and execute a marketing strategy that aligns with your company’s goals right off the bat. Mathematically speaking, if you want “Four” they know how to give it to you whether it’s 3+1 or 2+ 2. They know how to get there. They are wired that way. That’s simply how a good CMO thinks.
- Leadership: They lead your marketing team, providing direction and fostering innovation and cohesiveness. And most importantly, consistency among your branding initiatives and messaging. It’s so easy to have your messaging sound more like screeching cats than a well-orchestrated symphony. Which leads me to my next point…
- Consistency: Ensuring consistent brand messaging across all channels is crucial for building a strong brand. This includes sales. When considering a good CMO, having one that’s “fluent in sales speak” is vital! Having a disjointed sales and marketing team is known to cost as much as 26% of your revenue potential!
Now, all that being said, a full-time CMO isn’t likely a viable choice. So, when considering the costs, Fractional CMO pricing is significantly more
Fractional CMO role offers a unique blend of strategic vision and hands-on execution.
manageable compared to hiring a full-time executive. Fractional CMOs are “fractional” because they work at a fraction of the hours and at a fraction of the price. In fact, they save an average of 50-70% of your labor costs over a full-time hire while still making high-level marketing expertise accessible without stretching your budget thin. That leads me to my next point…
Why Use a Fractional CMO?
So, why should you use a fractional CMO? The benefits aren’t rocket science but they are numerous. Here are just a few.
- Flexibility: Fractional CMOs offer flexible engagement terms, allowing you to scale up or down based on your needs. These needs could be based on the project, or the initiatives that you have in mind.
- Expertise on Demand: Gain access to seasoned marketing professionals without a long-term commitment. See? No need to buy an engagement ring. Just use the talent when you need it and where you need it most.
- Cost-Effective: And as I alluded to earlier, hiring a fractional CMO is more cost-effective than a full-time hire. What could be better than getting top-notch expertise at a fraction of the cost?
If you’re searching for the “best fractional CMO near me”, look no further than Invictus CMO, a boutique firm where you get personalized attention and dedicated expertise directly from me. With over 25 years of experience in sales, I’m not only a fractional CMO but a fractional CRO as well, thus ensuring that your sales and marketing teams will be unified. And the nearly 15 years of experience in principled marketing expertise has paid off time and time again for my clients. I approach things from a no-nonsense perspective, meaning that every dollar has to pull it’s weight. I realize that the industry norm is that 50% of the marketing budget is expected to be wasted, but that’s unacceptable to me. I am so effective at lead generation that I guarantee my lead generation work! Try finding that with another fractional CMO!
2. “According to industry data, companies that hire fractional CMOs achieve an average of 33% revenue growth.”
When Should I Hire a Fractional CMO?
Knowing the right time to actually pull the trigger is a bit of a tap dance. You don’t want to overextend yourself, but you don’t want to miss out on the 33% revenue growth that a fractional CMO statistically brings a business on average. (And by the way, Invictus CMO is anything but average.) So, what are the right scenarios in which you’d know it’s time to pull the trigger? Here are key scenarios:
- Rapid Growth: Your business is expanding quickly, and you need expert guidance to scale your marketing strategies effectively.
- Strategic Shifts: You’re planning a major rebranding or entering new markets, requiring seasoned insights.
- Project-Based Needs: Specific projects like a product launch or marketing audit demand expert oversight.
Other needs could be leadership, or product releases, or brand overhauls, etc. There are many reasons that “now” would be the right time. Why not book a private discovery call with Invictus CMO to find out if now is the right time?
Is there a way to save money and still get some marketing expertise? Do you have to go to the lengths of bringing on a fractional CMO? Could you settle for a fractional marketing director instead? The short answer is yes, but you won’t get the high-level expertise that you’d get from a fractional CMO.
How Much Does a Fractional Marketing Director Cost?
Costs can vary, but generally, you can expect to pay between $100 and $350 per hour. This pricing is flexible and can be tailored to fit the scope of your needs. Now considering that a fractional CMO can bring about a significantly higher result for you than the difference you’d pay in the salary, I’d say you’re better off going for the fractional CMO rather than cutting corners on a fractional marketing director. The two are worlds apart.
For those looking to “hire a fractional CMO near me”, Invictus CMO can help you find the right fit for your business, ensuring you get the expertise you need at a cost that makes sense. And it won’t matter if we’re in your backyard or not. You’ll still get white glove care and the expertise your business needs.
Hiring a fractional CMO can be a strategic move for businesses looking to elevate their marketing without committing to a full-time executive. They
a marketing director
bring a refreshing flexibility, impressive expertise, and a much-needed cost-effectiveness, making them an ideal solution for growing companies. If you’re ready to take your business to the growth and accomplishment that it was meant for, then consider reaching out to Invictus CMO for expert guidance and support.
Contact Invictus CMO today for your private CEO Flash Focus meeting to find the perfect fractional CMO for your business and achieve your success goals. It’s a preliminary focused and high-level 15-20-minute meeting with CEOs to highlight their main challenges currently. Hurry. You 33% increase in revenue is waiting!
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