How to hire a Fractional CMO.
Like getting WiFi in the middle of the desert, finding a cat who likes a bath or a smartphone without a cracked screen the much mythologised fractional CMO is the proverbial diamond in the rough.
Like the credits to the A-Team announced triumphantly 'if you can find them, maybe you can hire' - if you're looking to hire a fractional CMO you'll quickly get the picture that they're a pretty rare breed. Especially ones with the kind of track record you're really looking for.
Before we get into why that is, let's start with a bit of background on the kind of things you may need help with when looking to hire a fractional CMO. The following hypothetical examples can illustrate how fractional CMOs could contribute to different business scenarios:
Startup Scaling with Limited Resources:
Imagine a tech startup that has developed an innovative product but lacks a robust marketing strategy. Shock-horror a start-up has neglected its marketing to focus on product development, not that hard to imagine we know! To conserve resources, the startup hires a fractional CMO with experience in product launches. The fractional CMO works on defining the target market, crafting a compelling value proposition, and executing a go-to-market strategy. (We'll not mention the word brand here, oh shit we just did) This enables the startup to scale its user base without the long-term commitment of a full-time CMO.
Interim Leadership during Transition:
A mid-sized manufacturing company faces a temporary leadership gap as its CMO takes a sabbatical. Now we'll let the lawyers discuss the details in court but for our purposes the business will hire a fractional CMO to maintain marketing momentum and strategic direction. The fractional CMO ensures continuity in marketing efforts, oversees ongoing campaigns, and prepares the team for a smooth transition when the full-time CMO returns (or not if they don't have a very good lawyer).
The Performance marketing plateau:
An until now purely digital business has realised that growth has plateaued by swimming in the same pool of prospects and needs to venture out into the big wide world of full funnel marketing. To navigate this transition, the company engages a fractional CMO with broader full funnel marketing experience. The fractional CMO helps to develop a unique positioning that will work outside of the buy-me-now 3% of the market looking for an instant sale. Cue a slower but more solid way to lead to exponential growth.
In these hypothetical scenarios, fractional CMOs contribute by providing specialized expertise, filling leadership gaps, and executing strategic initiatives.
Ok, so we need one. Pretty quickly. How do we hire a Fractional CMO?
The fastest answer is obviously to give us a call. We offer 15 minute discovery sessions that will be able to quickly work out whether a fractional CMO approach will be good for your business. It’s a strategic decision that requires careful consideration and planning so don't just take our word for it - here are some tips and considerations for businesses looking to hire a fractional CMO:
Clearly Define Objectives:
Clearly articulate the goals and objectives you aim to achieve by bringing in a fractional CMO. Whether it's launching a new product, revitalizing the brand, or scaling marketing efforts, having well-defined objectives will guide the CMO's focus.
Understand the Scope of Work:
Clearly define the scope of work and the expected deliverables. This should include a detailed description of the projects, campaigns, or strategic initiatives the fractional CMO will be responsible for, as well as the expected timeline for completion.
Check References and Past Performance:
Request and check references from previous clients or employers. Explore case studies or examples of past projects to understand the fractional CMO's approach, results, and overall performance.
Communication Skills:
Effective communication is crucial. Ensure the fractional CMO can articulate complex marketing strategies, communicate with internal teams, and align marketing efforts with broader business goals. Clarity in communication fosters better collaboration.
Cultural Fit:
Assess the fractional CMO's ability to integrate with your company culture. While they may not be a full-time employee, cultural fit remains important for effective collaboration and understanding of your business environment.
Flexibility and Adaptability:
Marketing landscapes change rapidly. Look for a fractional CMO who is flexible and adaptable to evolving industry trends and challenges. They should be able to adjust strategies based on market shifts and emerging opportunities.
Establish Clear Metrics and KPIs:
Define key performance indicators (KPIs) and metrics to measure the success of the fractional CMO's efforts. This provides a basis for evaluating performance and ensuring alignment with business goals.
Contractual Agreements:
Clearly outline the terms of the engagement in a contractual agreement. Include details such as the scope of work, deliverables, timelines, payment terms, and any confidentiality agreements. A well-defined contract helps manage expectations and avoid misunderstandings.
Evaluate Cost and ROI:
Assess the cost of engaging a fractional CMO against the potential return on investment (ROI). While fractional CMOs can be cost-effective compared to full-time executives, it's essential to weigh the benefits against the financial investment.
Plan for Knowledge Transfer:
Develop a plan for knowledge transfer between the fractional CMO and internal teams. This ensures a smooth transition of responsibilities and knowledge when the engagement concludes.
By considering these tips, businesses can make informed decisions when hiring a fractional CMO, maximizing the value they bring to the organization and achieving their marketing objectives.
But as we said at the beginning, finding the right fractional CMO can be like winning the lottery. The transformational work they can do for your business can also feel like winning the lottery so it's a win-win situation. Drop us a line and we'll try to help you as best we can in 15 minutes.
J
Like the credits to the A-Team announced triumphantly 'if you can find them, maybe you can hire' - if you're looking to hire a fractional CMO you'll quickly get the picture that they're a pretty rare breed. Especially ones with the kind of track record you're really looking for.
Before we get into why that is, let's start with a bit of background on the kind of things you may need help with when looking to hire a fractional CMO. The following hypothetical examples can illustrate how fractional CMOs could contribute to different business scenarios:
Startup Scaling with Limited Resources:
Imagine a tech startup that has developed an innovative product but lacks a robust marketing strategy. Shock-horror a start-up has neglected its marketing to focus on product development, not that hard to imagine we know! To conserve resources, the startup hires a fractional CMO with experience in product launches. The fractional CMO works on defining the target market, crafting a compelling value proposition, and executing a go-to-market strategy. (We'll not mention the word brand here, oh shit we just did) This enables the startup to scale its user base without the long-term commitment of a full-time CMO.
Interim Leadership during Transition:
A mid-sized manufacturing company faces a temporary leadership gap as its CMO takes a sabbatical. Now we'll let the lawyers discuss the details in court but for our purposes the business will hire a fractional CMO to maintain marketing momentum and strategic direction. The fractional CMO ensures continuity in marketing efforts, oversees ongoing campaigns, and prepares the team for a smooth transition when the full-time CMO returns (or not if they don't have a very good lawyer).
The Performance marketing plateau:
An until now purely digital business has realised that growth has plateaued by swimming in the same pool of prospects and needs to venture out into the big wide world of full funnel marketing. To navigate this transition, the company engages a fractional CMO with broader full funnel marketing experience. The fractional CMO helps to develop a unique positioning that will work outside of the buy-me-now 3% of the market looking for an instant sale. Cue a slower but more solid way to lead to exponential growth.
In these hypothetical scenarios, fractional CMOs contribute by providing specialized expertise, filling leadership gaps, and executing strategic initiatives.
Ok, so we need one. Pretty quickly. How do we hire a Fractional CMO?
The fastest answer is obviously to give us a call. We offer 15 minute discovery sessions that will be able to quickly work out whether a fractional CMO approach will be good for your business. It’s a strategic decision that requires careful consideration and planning so don't just take our word for it - here are some tips and considerations for businesses looking to hire a fractional CMO:
Clearly Define Objectives:
Clearly articulate the goals and objectives you aim to achieve by bringing in a fractional CMO. Whether it's launching a new product, revitalizing the brand, or scaling marketing efforts, having well-defined objectives will guide the CMO's focus.
Understand the Scope of Work:
Clearly define the scope of work and the expected deliverables. This should include a detailed description of the projects, campaigns, or strategic initiatives the fractional CMO will be responsible for, as well as the expected timeline for completion.
Check References and Past Performance:
Request and check references from previous clients or employers. Explore case studies or examples of past projects to understand the fractional CMO's approach, results, and overall performance.
Communication Skills:
Effective communication is crucial. Ensure the fractional CMO can articulate complex marketing strategies, communicate with internal teams, and align marketing efforts with broader business goals. Clarity in communication fosters better collaboration.
Cultural Fit:
Assess the fractional CMO's ability to integrate with your company culture. While they may not be a full-time employee, cultural fit remains important for effective collaboration and understanding of your business environment.
Flexibility and Adaptability:
Marketing landscapes change rapidly. Look for a fractional CMO who is flexible and adaptable to evolving industry trends and challenges. They should be able to adjust strategies based on market shifts and emerging opportunities.
Establish Clear Metrics and KPIs:
Define key performance indicators (KPIs) and metrics to measure the success of the fractional CMO's efforts. This provides a basis for evaluating performance and ensuring alignment with business goals.
Contractual Agreements:
Clearly outline the terms of the engagement in a contractual agreement. Include details such as the scope of work, deliverables, timelines, payment terms, and any confidentiality agreements. A well-defined contract helps manage expectations and avoid misunderstandings.
Evaluate Cost and ROI:
Assess the cost of engaging a fractional CMO against the potential return on investment (ROI). While fractional CMOs can be cost-effective compared to full-time executives, it's essential to weigh the benefits against the financial investment.
Plan for Knowledge Transfer:
Develop a plan for knowledge transfer between the fractional CMO and internal teams. This ensures a smooth transition of responsibilities and knowledge when the engagement concludes.
By considering these tips, businesses can make informed decisions when hiring a fractional CMO, maximizing the value they bring to the organization and achieving their marketing objectives.
But as we said at the beginning, finding the right fractional CMO can be like winning the lottery. The transformational work they can do for your business can also feel like winning the lottery so it's a win-win situation. Drop us a line and we'll try to help you as best we can in 15 minutes.
J