Are you looking for strategic marketing leadership without the commitment of a full-time executive? If so, you may be wondering, “What is a fractional CMO?” and if hiring one is the right path to growing your business.
A fractional chief marketing officer (CMO) provides quick impact at a low risk. It’s a great solution for organizations that need experienced marketing guidance but aren’t yet ready to fund a full-time CMO hire. Demand for fractional CMO leadership is growing quickly, and several models of fractional CMO services are emerging. Below we explore the fractional CMO job description and options.
Let Authentic help you grow your business through our expert fractional CMO services.
What’s A Fractional CMO?
A fractional CMO provides executive-level marketing expertise on a part-time or contract basis. Hiring a fractional CMO allows businesses, especially small to medium-sized enterprises (SMEs), to access the strategic insights and leadership of a seasoned marketing executive without the cost and commitment of hiring a full-time, traditional CMO.
As an executive C-suite level role, a full-time CMO salary is far above six figures a year. A fractional CMO is a more cost-effective way to access executive expertise at the right scale for your business needs. They are usually paid hourly or on retainer at rates between $200-$375 per hour.
As more businesses are leveraging the growing gig economy, the popularity of fractional CMO positions is increasing, and so is the number of companies offering fractional CMO services. Some offer short-term or interim leadership. This is ideal for businesses that only want to fill this role temporarily. Other fractional CMO and marketing services — like Authentic® — provide longer-term leadership and integration of every aspect of an organization’s marketing team and program.
Types Of Fractional CMO Models
It’s important to understand the types of fractional CMOs because one type may be better for your specific business needs and budget.
- Independent fractional CMOs: Independent Fractional CMOs represent the largest groups of individuals operating with this title. Independent CMO consultants may be less expensive than a CMO employed through a company such as Authentic since they usually have low operating costs. However, independent fractional CMOs have not been vetted by a third party, and their depth of experience ranges greatly.
- Agency fractional CMOs: As the fractional CMO concept has become more popular, many digital and traditional marketing agencies have adopted this title to replace the traditional Account Manager role. While clients may find value in an “all in one” provider – with both strategic and execution capabilities – the risk is that this strategist is likely not a true CMO and is incentivized to sell the agency’s capabilities.
- Collective fractional CMO firms: Independent fractional CMOs operate as a collective under a unified brand using a lead-sharing, licensing, or franchise model. That brand acts as a clearinghouse for a group of independent contractors, but they may not fully vet the talent pool to ensure true CMO credentials.
- Organized fractional CMO companies: Companies employ a team of consultants who are vetted as true executives and work as embedded leaders within their client’s executive team. Team members within a fractional CMO organization are deeply committed to a consistent and high standard of services and collaboration with their colleagues.
Learn more about the four types of fractional CMO models and if Authentic’s model is right for you.
What Does A Fractional CMO Do? Fractional CMO Responsibilities
A fractional CMO’s job description is similar to that of a full-time CMO but just on a part-time or project basis. A seasoned fractional CMO will be adept at crafting marketing strategies, building marketing teams, and implementing processes to drive growth and increase brand visibility.
They offer a cost-effective solution for organizations seeking executive-level marketing guidance to achieve their business objectives while managing budget constraints effectively. The flexibility and expertise they bring to companies needing top-tier marketing leadership demonstrate the value of a fractional CMO.
Common Fractional CMO Responsibilities:
- Leading the marketing department
- Overseeing all marketing initiatives and operations
- Creating and implementing marketing strategy and foundation
- Guiding other executives in creating and pursuing growth goals
- Building key relationships with other organizations
Finding the right CMO can be a full-time job on its own. Partner with Authentic to streamline the process.
What Businesses Need A Fractional CMO?
Any business can hire a fractional CMO, but some may benefit from doing so more than others, such as small to mid-sized companies and organizations undergoing significant growth or transition. A fractional CMO can provide the strategic guidance these businesses need to navigate their marketing challenges like revamping an outdated marketing plan.
Bringing in a CMO, even short-term, can help businesses implement new marketing strategies. Companies that do not have the budget for a full-time CMO and those looking to provide some leadership for their existing marketing team can also benefit from the services of a fractional CMO.
Fractional CMO Qualities: What To Look For When Hiring
Before hiring a CMO, assess your company’s specific marketing needs. Some CMOs focus on certain industries or specializations, such as ecommerce or nonprofits. Think about your company’s culture and what type of personality would be a good fit. Remember that a good fractional CMO should be able to hit the ground running as soon as they start without a long onboarding or enculturation process.
There are lots of marketers out there who claim to provide fractional CMO services. When looking for a CMO, ask for specific examples of results they have achieved for previous businesses. This will help you weed out the inexperienced applicants from those who have real C-suite level experience.
Below are some of the essential qualities and skills to look for when hiring a fractional CMO:
- Strong leadership (C-suite level)
- Industry and relevant business model experience
- A proven track record of success
- Builds trust quickly with other stakeholders
- Fast-learner
- Self-starter
Hire A Fractional CMO Through Authentic
Authentic is an organized fractional CMO company. Our fractional CMOs are W-2 employees who span the United States, all working together to help growing businesses Overcome Random Acts of Marketing®. Our unique approach combines marketers, methodology, and mindshare to build strong, strategic, sales-aligned marketing teams and programs.
Our Authentic Growth Methodology™ builds business rigor by implementing a proven marketing process that teaches a simple set of tools, frameworks, and meeting cadences that drive alignment, accountability, and activation. Consider hiring a fractional CMO with Authentic and see what we can do for your business!
