More likely than not, you know what a Chief Marketing Officer (CMO) is – but have you ever heard of a Fractional CMO? They perform functions similar to your standard CMO, advising on the best tools and services to grow your brand presence. What sets them apart, however, is time: Fractional CMOs only work for you for a limited number of hours each month, and are essentially contractors. Here’s how that can benefit your business, including your prospecting.
1. A Fractional CMO Saves You Money
Depending on the size of your business and your current in-house marketing department, you may find that partnering with a Fractional CMO is well worth the cost savings. While you might normally hire an in-house CMO at a six-figure salary, a fractional one is substantially less – in some cases, the cost of an entry-level employee. That means that you’re getting the same valuable advice and experience, but – as the name implies – at a fraction of the cost.
2. A Fractional CMO Tailors Your Services
Unlike full-service marketing agencies, a Fractional CMO offers a more à la carte style of marketing. She or he identifies which services are important to your growth and where you want to focus your time and budget, then coordinates them on your behalf. That’s especially relevant to prospecting if you’re primarily concerned with finding and verifying fresh leads for your contact database. This way, you don’t have to worry about being under contract with a wide range of professional services that you may not fully commit to at this stage in your company’s growth. That isn’t to say that these services won’t be relevant to you later; rather, it’s about making sure that you utilize those services that will have the greatest positive influence on your new business development right now.
3. A Fractional CMO Focuses on Relationships
A Fractional CMO takes the pressure off of a traditional marketing meeting because you’re talking with an individual who is there to advise you and establish a one-on-one relationship. They’re meeting with you to learn about your organization, discuss your marketing concerns, and work with you to identify the appropriate solutions. Whether it’s how to write a good prospecting email, where to find the appropriate data for lead generation, reviewing analytics from your email campaigns, or offering tips to spruce up your website, a Fractional CMO has the know-how and a network of professionals with the solutions you’ll need to get the results you’re looking for.
Is Hiring a Fractional CMO the Right Choice for You?
Ultimately, choosing a Fractional CMO hinges on a couple of questions: what marketing areas are you struggling in, and how much do you want to pay to have them resolved? If you’re only looking for help in a couple of areas, and you’re trying to watch your budget, then outsourcing that work to a Fractional CMO is probably better than a full-service agency. That could always change down the line, of course – but the guidance you need now might not be as involved as where you’ll want to eventually scale. And that’s okay. When you consider the rollercoaster that our economy’s been through over the last couple of years, it’s understandable if you’re still cautious about how extensive you want your outsourced marketing and prospecting services to be.
If you’d like to see if a Fractional CMO is right for your business, we have one who would be happy to speak with you! Click the button below to schedule time for a free discussion, or reach out to us by phone at 904-274-2111.