5 Benefits of Hiring a Fractional CMO for Your Business

Do you have a small-to-medium-sized business or startup, with no marketing lead on staff? Are you in the midst of a business transition? Or maybe you’ve been toying with hiring a CMO for your growing business, but want to test the waters first?

If your business is ready to grow, but you need someone to manage your marketing to spur that growth — hiring a fractional CMO might be a great fit for you. Read on to learn more about what a fractional CMO does, as well as some of the biggest benefits of hiring a fractional CMO for your business.

What Is a Fractional CMO?

In a typical corporate scenario, a Chief Marketing Officer (CMO) is responsible for developing and executing marketing strategies that drive brand awareness, customer engagement, and revenue growth. When they do their job well, a CMO can have a huge impact on their company’s marketing efforts and bottom line.

But for many small-to-mid-sized businesses and startups, the cost of hiring a full-time CMO is often prohibitive. That’s where the concept of a fractional CMO comes in.

A fractional CMO is exactly what it sounds like: a CMO you hire for a fraction of the time a typical CMO would work (for a fraction of the pay). So rather than hiring a full-time salaried employee, you contract out to someone on an as-needed basis.

With a fractional CMO, you’ll still have an experienced marketing professional on hand to guide your company’s marketing strategy. You’ll have all the benefits of their experience, expertise, network, and focus, just as you would with a full-time CMO…but with decided cost savings and flexibility. 

At Wild Fig, our fractional CMO program benefits two primary groups:

1. Companies that need a trusted partner to develop and execute an effective marketing plan, but can’t justify the expense of bringing in the marketing staff needed to do so.
   
   and
2. Companies that have lost their Marketing Director or other marketing staff, haven’t been able to (or have chosen not to) fill the position, and want to consider outsourcing.

With this service, you’ll have access to the entire team at Wild Fig Marketing, who will expertly create and implement an effective marketing plan for your business.

5 Benefits of Hiring a Fractional CMO for Your Business

When you outsource your marketing strategy to a fractional CMO, your business will reap a number of benefits, including:

1. Access to an Experienced Marketing Executive 

With a fractional CMO, you’ll get an experienced marketing professional who is ready to hit the ground running. 

A fractional CMO often has the same level of experience as a typical CMO — so they are equipped to anticipate and address any marketing challenge that comes their way. They also typically have experience working with a wide variety of businesses and industries and can offer insights and strategies you might not have thought of.

A fractional CMO package will often encompass a wide range of services, including automation, blog writing, copywriting, sales and marketing consulting, lead generation, email marketing, social media marketing, SEO, paid ads, sales enablement, and more.

Having someone on your team who understands how to create and execute tailored marketing strategies that tie directly into your overall business strategy (all while considering costs vs benefits) can be revolutionary for your business.

2. Access to Their Network of Skilled Professionals

You’ll also benefit from access to the vast network of highly skilled professionals your CMO has worked with and who they trust to deliver quality results. This network of vendors and other resources can include marketing technology, creative agencies, specialists, and more who can help your business successfully execute an effective marketing strategy.

Having this network of experts at your fingertips can help your business save time and money, reduce risk, and maximize your marketing investment for long-term success.

3. An Objective Perspective on Your Business

A fractional CMO can bring a fresh perspective to your marketing efforts. Because they are outside your organization, they can offer an unbiased evaluation of your current marketing strategies and point out areas that could use improvement or optimization. This objective advice can help you see things that may have been overlooked by your internal team members.

In addition, a fractional CMO isn’t going to get caught up in office politics. They’re laser-focused on developing and executing a marketing strategy that accomplishes your objectives, ensuring maximum efficiency and success.

4. A Cost-Effective Way To Manage Your Marketing 

Hiring a full-time CMO with the experience you need can get expensive (especially when you consider the cost of benefits in addition to salary). Simply put, hiring a fractional CMO can save you money.

Because they work on a contracted, part-time basis, a fractional CMO can be much more affordable than hiring a full-time employee. In addition, you’re able to adjust the time they spend on your marketing as your budget and needs allow, giving you more leeway in your budget.

A fractional CMO can also help you utilize your internal staff more effectively by freeing up their time to focus on other aspects of their jobs…while simultaneously ensuring an experienced professional is at the helm of your marketing efforts.

5. A Low-Risk Solution for Your Marketing Needs

In most cases, hiring a fractional CMO doesn’t require a long-term commitment. This makes it an ideal solution for a company that wants to bring on an executive-level marketing professional, but that also wants to temper their risk.

You’ll enjoy all the benefits of having a marketing executive on board while having the flexibility to scale their work up or down as your needs and budget allow. A fractional CMO can work on a retainer basis or on a project-by-project basis — you can access their expertise as needed, without committing to a long-term contract.

Need a Fractional CMO? Lean on Wild Fig Marketing

If you’re ready to talk about what it would look like to hire a fractional CMO for your business, we’d love to chat. Contact us to set up a FREE strategy session to learn how our team can help you develop and implement a marketing strategy that helps you meet your goals and grow your business.

So, schedule that strategy session. And in the meantime, learn more about why it’s beneficial to outsource your marketing by downloading our free ebook.