Sometimes hiring a full-time marketing executive isn’t the right move for your business, and an outsourced CMO may be a better option. Keep reading to find answers to questions such as “What does an outsourced CMO do?” and “How can you hire one?”
A chief marketing officer (CMO) leads a company’s marketing department. Large businesses usually have an in-house CMO, but smaller businesses may not need a full-time CMO or have a budget that supports a full-time hire. An outsourced chief marketing officer may be a better fit for these companies. Learn more about CMO outsourcing to determine if it’s right for you.
Hire a tested, trusted, and true fractional CMO on a part-time or contractual basis with Authentic®.
What Is An Outsourced CMO?
An outsourced CMO is an executive C-suite level role that is hired on a contractual basis rather than as a traditional employee. They may come from a marketing firm, a consulting agency, or as self-employed individuals. CMO outsourcing is becoming more popular, particularly for small to mid-sized businesses. Working with a seasoned outsourced CMO can bring expert marketing leadership to your company without the commitment of another full-time executive.
Because most outsourced CMOs work on a fractional basis, they can help with specific marketing initiatives and goals or oversee the entire marketing department for a specified amount of time. The depth of experience of fractional CMOs ranges significantly. Hiring an outsourced CMO from a fractional CMO firm like Authentic ensures they are vetted as a true marketing executive.
What Does An Outsourced CMO Do?
The key responsibilities of an outsourced CMO are similar to those of a traditional, in-house CMO. The biggest difference will be in the number of hours they work per week, which will determine the pace and prioritization of the CMO’s scope. Traditional CMOs are usually full-time employees who work 40 or more hours weekly. In contrast, an outsourced CMO may work anywhere from 4 to 40 hours per week for your business, and they may split their time working with multiple companies.
Additionally, many outsourced CMOs work remotely. Remote outsourced CMOs do not need to move for the job, so they can start immediately by being included in meetings and daily operations. Providing an onboarding guidebook can help an outsourced executive acclimate faster and lead to better results overall.
Typical Outsourced CMO Job Description:
- Leading marketing department operations
- Developing marketing strategies
- Hiring, coaching, and mentoring marketing team members
- Overseeing marketing technologies, programs, and campaigns
- Vetting and selecting agency partners
- Aligning marketing efforts with business goals
- Updating stakeholders on marketing efforts and outcomes
Get in touch with an Authentic representative to find the right fractional CMO for your business needs.
Why Hire An Outsourced CMO? Benefits Of CMO Outsourcing
Before hiring a marketing executive, clarifying your business’s marketing goals is essential to determine whether an in-house CMO, agency, or independent contractor is right for you. An outsourced CMO allows small to mid-sized businesses the opportunity to kickstart marketing initiatives with the wisdom of experienced marketing leadership – all without committing to a full-time CMO.
If your marketing team needs full-time guidance, then an outsourced CMO may not be right for you. An outsourced CMO is a good choice for businesses looking for cost-effective, flexible, experienced marketing leadership or those looking to bring a fresh perspective or new skills to their team.
Cost-Effective Executive Expertise
Outsourcing a CMO provides businesses with access to high-level marketing expertise without the cost commitment associated with hiring a full-time executive. This can be beneficial for all companies that operate on limited budgets, regardless of their size. The average cost of an in-house CMO is $225,000 per year. In contrast, an outsourced CMO is often paid hourly so you only pay for what you need. The average hourly rate of a contract-based CMO is between $200-375 an hour.
Flexible And Scalable Marketing Leadership
An outsourced CMO offers flexibility in terms of time commitment and scalability, allowing businesses to adjust the level of marketing leadership based on their evolving needs. This flexibility supports both short-term projects and long-term growth strategies. An outsourced CMO can have a quick impact on your business at a low risk. Furthermore, with the right outsourced CMO, you will feel the effects of their leadership and expertise long after their contract ends.
Access To Specialized Marketing Skills
Outsourced CMOs bring specialized skills and industry-specific knowledge that may not be available within the current in-house team. They can fill a strategic leadership gap. Another major advantage of an outsourced CMO is having access to a broad range of expertise tailored to your company’s unique market challenges. This could include uncovering hidden opportunities for customer acquisition, optimizing your go-to-market strategy, or clarifying your marketing key performance indicators (KPIs).
Look for a CMO with relevant experience, industry knowledge, a successful track record, and compatibility with the organization’s culture.
Innovative Strategies
Outsourced CMOs can offer fresh perspectives and innovative strategies that might be overlooked by in-house teams entrenched in existing processes. This can lead to more creative solutions and cutting-edge campaigns to provide a competitive advantage in the market. When you choose Authentic for your outsourced CMO services, you get results-driven operating systems like the Authentic Growth™ Methodology, which provides a clear structure for shaping annual marketing plans and quarterly marketing activities while maintaining flexibility to adapt to ongoing changes and insights.
Outsourced CMO Vs. Fractional CMO: Is There A Difference?
The terms outsourced CMO and fractional CMO may be used differently by different companies and firms, and they are often used interchangeably. However, there is a major difference between them. While a fractional CMO may be hired directly by a company, an outsourced CMO will always come from an external source, such as a marketing firm.
Other differences may exist in terms of engagement and scope of work of an outsourced CMO versus a fractional CMO. Fractional CMOs are contracted on a part-time basis, whereas outsourced CMOs may be part-time or full-time. For example, a company may need a full-time interim CMO while searching for a new hire. This would be an outsourced CMO but not a fractional CMO. Firms like Authentic offer both fractional CMO and interim CMO services.
Hire An Outsourced Fractional CMO Through Authentic
Authentic is the only fractional CMO company that exclusively employs a W2 model. When you work with us, you do not have to worry about vetting the CMO because we’ve already done that for you!
As the demand for outsourced CMOs increases, some independent contractors claim to offer CMO services without actually having any executive-level experience. If you are seeking a real outsourced marketing director or CMO, you don’t want to end up with a marketing specialist or manager. You also want someone who is fully committed to their contract and isn’t going to overextend themselves with too many clients or jump ship if a better opportunity arises.
Authentic Fractional CMOs™ are proven and passionate revenue builders who love what they do and treat your business and budgets as their own. Our Authentic Growth™ Methodology builds business rigor around marketing by implementing a proven, habit-forming system that builds high-performing revenue teams and ensures marketing and sales activities remain tied to the business vision.
Contact us today to set up a free consultation and start the journey to finding your right-fit fractional CMO.
