How to Choose the Right Fractional CMO for Your Business

The surge in popularity of the Fractional CMO model over the past five years is as good an indicator as any of the changing nature of business—and, indeed, the world we live in today. In a rapidly shifting tech landscape defined by AI, quantum computing, and increased agility, startup companies are starting to hone in on those highly skilled marketing professionals who can make the strategic breakthroughs necessary to grow the company - without the elongated hiring process.

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Agility today is key and nobody embodies that more than the Fractional CMO. Speed of hire, speed of thought, and speed of execution is at the heart of what the Fractional CMO brings. The right Fractional CMO has the potential to embed the blueprint for success within your company. That being said, it is important to choose your Fractional CMO wisely. There are certain characteristics you should look out for during your selection process and you will need to consider carefully the specifics of the task at hand as it relates to your company.

In this post, we will go into a bit of depth on the specifics of the Fractional CMO role itself, key responsibilities, skills, characteristics, and, ultimately, how you can choose the right Fractional CMO for your business.

Fractional CMO Definition - What is a Fractional CMO?

A Fractional CMO is a highly experienced, highly skilled marketing professional that is hired into a part-time or short-term role to oversee the marketing function. The Fractional CMO - as opposed to the conventional CMO - does not come with a lengthy hiring process, long-term obligations, or even a bedding in period of any sorts. Instead, the Fractional CMO should hit the ground running as a strategic difference maker at your company.

Fractional CMO Services

There are any number of marketing services a Fractional CMO can provide or, ideally, oversee - but, it probably makes more sense not to think in terms of services when it comes to the Fractional CMO. A Fractional CMO will be able to oversee - and, depending on the nature of your agreement or needs, maybe even execute campaigns across any number of the various marketing channels including, but not limited to, content; SEO; PPC; sales enablement; email marketing; and ABM. Instead, the right Fractional CMO can help you craft the marketing strategy your company needs to grow revenue—leveraging the most suitable channels as required by your specific needs. Perhaps the best way to think about the role of the Fractional CMO is along the lines of strategy-as-a-service - and that is where their true value lies.

Fractional CMO Key Characteristics

Every company possesses its own unique set of circumstances which will play into the Fractional CMO selection process. There are however a number of key characteristics to look out for in a Fractional CMO.

Revenue Focus: The volume of data and metrics available to marketing teams has never been greater. Within these data points are key metrics that can provide companies with key insights and opportunities. There is a real danger however of getting lost in this sea of data. The ability to identify the signal from the noise is now paramount. The best Fractional CMOs remain revenue-focused—possessing the ability to identify and link key data points back to the ultimate goal of revenue growth.

Visionary: The goal for many companies looking to hire a Fractional CMO is a strategic breakthrough of some description. The Fractional CMO is not simply another pair of hands to execute tactical plans, instead, they should help you to develop, communicate, and execute a vision that can take your company to the next level. The vision aspect is key here. The question to consider of a potential Fractional CMO is does this person have the mix of industry knowledge, communication skills, technical know-how, and anticipatory thinking to help develop and execute a successful company vision? For the best Fractional CMOs, the answer is a resounding yes!

Agility: As we mentioned earlier, agility is at the very heart of the Fractional CMO concept. Speed is key. The best Fractional CMO candidates will be able to ramp up quickly - gelling with existing team members with minimal friction. Strategy - from concept to execution - must be rapid. Adaptability is also included here. Startups must leverage their small size in their favor and your Fractional CMO needs to be responsive as any potential opportunities arise. If an opportunity arises that requires a rapid shift in strategy, then so be it! It is the role of the Fractional CMO to identify and quickly execute solutions to the day’s challenges. One real world example here could be a situation where a competitor has started to churn customers - a situation that can be capitalized on through quick marketing and sales execution overseen by your Fractional CMO.

Alignment Specialist: Revenue growth, as we mentioned earlier, is the ultimate goal of any Fractional CMO hire. The best Fractional CMO candidates are hyper-focused on revenue in a way that goes beyond traditionally disparate business functions. The last thing any startup needs is a marketing expert working in a silo dictating to other business functions how to live their lives. The best Fractional CMOs can act as company alignment specialists building cross-functional relationships and leveraging the unique insights that can only be obtained through communication with other functions. Sales reps, for instance, will always have the best insights into customer needs as it is they who are speaking to customers in their day-to-day lives. Your Fractional CMO should work cross-functionally to ensure the company’s strategic aims are aligned across the organization.

When is the Right Time to Hire a Fractional CMO?

Timing - when it comes to Fractional CMO selection - is everything. Yes there are key Fractional CMO characteristics to consider, but the main driver is timing. There are a number of situations a startup can find itself in where hiring a Fractional CMO becomes a top priority.

Marketing Strategy Development - A Fractional CMO can help you build your marketing foundations including company vision, positioning, messaging, and competitive stance. The Fractional CMO, can, in addition, help you to create and execute the ensuing strategic plan. This situation would occur when a startup has developed a solution and has had some success with early customer wins. The strategy picture would however be somewhat unclear with a number of ideas floating around the company and no clear plan on how to design and implement a marketing strategy. The best Fractional CMO candidates can take this somewhat unclear picture and turn it into a coherent and actionable strategy to drive the company forward.

Scaling Requirements - You have signed up some customers through word of mouth and industry connections and you want to grow your company. You are confident you have found your ideal customer profile and the numbers make sense. In this early-stage situation, hiring a Fractional CMO makes sense. The Fractional CMO can take what you have - which is a very strong set of foundations - and scale it to something extraordinary. A Fractional CMO can develop the marketing blueprint you need in this situation—leveraging a well-honed skillset to design and oversee the execution of relevant channel marketing campaigns that can build on your initial success and grow your company.

Triggering Event - This situation occurs when an external event of some description has created an opportunity for your company and you want to seize the opportunity, but you do not have the in-house expertise to do so. Typical examples would be around competitor or broader market developments. If for example, a new piece of legislation was passed in your jurisdiction that opened up the doors for your solution, you should be looking to seize on this opportunity and get your solution in front of as many potential customers as possible. A Fractional CMO can help you to do so by acting quickly to develop and oversee the execution of the strategic plan needed to do so.

We hope our insights on the role of Fractional CMO have been of some value to you and we wish you well on your growth journey. If you would like to learn more about our Fractional CMO or other Marketing Services, please reach out today and book a free strategy consultation with our team.