What is a fractional CMO?
A Fractional CMO is the same thing as a full-time CMO, but only working part-time on retainer basis. A Fractional CMO becomes an integrated part of your team as a your executive leader. They will set the strategy, build the team (hiring and managing specialists and agencies), and guide results. They are not a one-person marketing department, they are the leader that will build and guide your strategy & team.
Why fractional vs. full time?
Having a full-time CMO or head of marketing is great.. if you can afford one. To get access to high-quality leadership, it could cost you well over $250,000 per year in base pay, not including payment for healthcare, employment taxes, bonuses or equity. That makes access to high quality talent for small startups extremely difficult. Hiring a fractional CMO allows you to bring that leadership and strategy in house quickly with relatively low risk.
Why fractional vs. agency?
Make no mistakes about it.. agencies and consultant specialists are great. In fact, they are necessary. However, if you want to really scale beyond $2 million in annual revenue, they are probably not sufficient. To get to the next level, you will need to build internal capabilities to scale your organization for the long term. A fractional CMO will help you do just that - hire, build, and manage your marketing & sales team. A Fractional CMO is a real, integrated part of your team, however by design are a lot cheaper and less risky than hiring a full-time CMO.
What is the scope of a Fractional CMO?
Below are some of the key buckets that a fractional CMO covers.
Set your company
vision, strategy, and KPIs
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Setting the overall vision that helps keep your company on track
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Developing and executing brand, product, and go-to-market strategies.
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Leading competitive and market analysis to inform strategic decisions.
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Communicating marketing strategy to executives, investors, and stakeholders.
Build & sell in your innovation pipeline
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Leverage the strengths of your brand along with the unmet needs identified in market research to unlock a winning pipeline
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Teach how to qualify concepts before spending money creating products consumers do not want or need
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Refine concepts to ensure in market success
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Create compelling sell stories for buyers with real data that results in placement again and again
Position your brand for success
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Helping ensure your creative positions you to a specific target with a specific benefit, a real point of difference and reasons to believe you are the best.
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Owning brand positioning, messaging, and customer perception.
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Ensuring a seamless and engaging customer journey across all touchpoints.
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Leading creative, storytelling, and content marketing strategies.
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Managing PR, reputation, and crisis communications.
Build your
marketing & sales teams
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Hiring, mentoring, and developing a high-performing marketing team.
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Defining team structure and ensuring alignment with business goals.
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Managing agency and vendor relationships.
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Driving a strong marketing culture that fosters innovation and collaboration
Understand your consumer via market research
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Helping you identify who is your core consumer now and who it could be in the future
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Understanding what is making you successful today to leverage in the future
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Identify roadblocks that can unlock growth
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Establishing the correct methodologies, performing scrappy research, and finding research partners for sustained success
Manage budget, forecasts, P&L, and tech stack
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Setting and managing the marketing budget to maximize ROI.
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Forecasting revenue impact from marketing initiatives.
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Balancing brand-building efforts with short-term revenue-driving tactics.
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Managing P&L accountability for marketing investments.
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Help you setup your tech stack to automate, track, and manage your processes as efficiently and amazingly as possible.