Why Your Company Needs a Fractional CMO

Lately, I’ve observed many marketing jobs get posted with requirements expecting a wealth of strategy and leadership capabilities/experience from a junior role (with the salary that goes with it). 

These companies are clearly saying they need someone to help them chart a path for growth. But likely due to budgetary restraints, they also need that same person to execute. The issue is, if the person is strong enough to strategize, then they are likely overqualified to execute so you’ll be overpaying them for that aspect of the job (also, bogging them down with daily tasks, means they have less time focused on the bigger picture). 

Or if that person is a good executor, they probably lack the experience and knowledge required to really bring your business to the next level and they’ll need some guidance to help them become more strategic. 

So what do you do? 
Overpay for the execution or give up the strategy part?

That’s an interesting business problem, and since I pride myself on being a problem solver, I have a solution to propose:

Hire a Fractional Marketing Executive (commonly known as a Fractional CMO) to handle strategy and a full time junior to execute. 

What’s a Fractional Marketing Exec?

It’s an experienced marketing executive (usually VP or C- level) who works with businesses on a part-time basis; 1, 2 even 3 days a week, on a set, recurring schedule (like every Monday and Tuesday). They provide strategic guidance, lead marketing operations, oversee implementation and can coach and guide a more junior team. 

Benefits:

Small to medium-sized companies may not have the budget to support a full-time exec’s salary, benefits, and all other associated costs. Many companies of this size frankly also don’t have the need for a full-time executive. A Fractional model allows them to access the expertise of a seasoned marketing executive on a part-time basis. 

Who can benefit from a Fractional Marketing Exec?
Basically, any company with an ambitious goal, but a limited budget. 

• Start-ups
• scale-ups
• non-profits
• small to medium businesses

It’s a good option to consider if:

• You’re not seeing the growth you were expecting and need a fresh perspective to optimize your strategy. 
• You’re seeing rapid growth, but your team can’t quite keep up. 
• It’s a critical time for your business (product launch, rebrand, entering new markets, etc.) and you can benefit from the experience a seasoned leader brings. 

It shakes up the typical hiring model
This definitely challenges the typical marketing team model for any company. But in challenging economic times, smart companies must explore ways to gain an advantage. Having a senior level marketer on staff (even on a part-time basis) dedicated to growing your revenue can give your business a competitive edge. 

It makes financial sense
For more-or-less the same investment as a full-time marketing manager, you could get a C- or VP level marketer for one day a week and a full-time marketing coordinator. 

Similar costs, but the value you get for your business is very different. 

Cons 

There aren’t any. You reap all the benefits of a senior exec, minus the costs of hiring one full-time. You just can’t be the jealous type and need to be ok with sharing. 

That said, here are some common concerns I’ve heard:

I want someone who’s committed to my business, not someone who is only “half-in”.
It’s a valid concern that can be raised with your potential Fractional Marketing Exec and gauged during your initial discussions. That said, Marketing Execs are very results-oriented by nature. This inherently implies an above average level of commitment to any undertaking. Speaking for myself, in my fractional roles, I am well integrated into the team, fully onboarded as partner, and am genuinely invested in the success of each company I’m a part of. My part-time status doesn’t change that. 

How do I know you won’t share my business information with other people?
Just as with any collaborator or employee, fractional execs are bound by confidentiality agreements, non-competes, etc. The key is to be upfront and clearly communicate your expectations. For example, one company I am involved with requested I use their company issued laptop, instead of my own, to ensure security protocol is respected. 

What if I need you on your “off” days?
That is a common concern, yet oddly, has never actually been an issue. Mainly because a Fractional Exec is rarely working on daily operations, where the emergencies tend to pop up. When the team is properly aligned and knows what their priorities are, they are usually able handle the hiccups that pop up. Speaking for myself (again) everyone on the team knows my schedule and all meetings, questions, reviews are booked for those days. If anything is needed outside of my regularly agreed upon hours, I try to accommodate them as best as I can. The key, yet again, is clear and open communication.

How do I make sure you won’t work for a competitor?
Any good Fractional Marketing Exec will offer industry exclusivity right off the bat and include that in the contract agreement (if they don’t, walk away!). If there are any other potential areas of conflict, those can be discussed and added to the agreement, or discussed as needed along the way. Ultimately, this is a partnership, a good Fractional Exec won’t do anything to jeopardise your business relationship, or your business. 

Have I convinced you that the Fractional Marketing Executive model is worth exploring for your business? 

Think it could be the right model for you? Let’s have a chat!