Marketing consultants are a valuable addition to a business’s marketing team. For smaller businesses, understanding what a marketing consultant brings to the table and the marketing consultant rates are a vital part of ensuring marketing success. 

Marketing consultants are professionals who provide specialized expertise to help businesses achieve their marketing goals. It’s worth noting that marketing consulting is a popular career choice for individuals who are looking to earn a high income while leveraging their marketing skills and expertise. 

While marketing consulting involves working with businesses to develop and execute marketing strategies that help them achieve their business goals, businesses looking for this expertise will have to deal with higher marketing consultant rates from the best marketing consultants.  

According to CareerFoundry, while marketing consultant rates can vary depending on experience, location, and other factors, the average marketing consultant salary in the United States falls between $54,000 and $71,000 per year. States such as Wyoming, North Dakota, and Mississippi have the lowest average marketing consultant rates, while Delaware, Texas, and Washington State have the highest average rates.

While this can seem costly, especially for smaller companies with limited marketing budgets and experience, one should remember that marketing consultants are not full-time employees and offer a range of benefits such as:

1. Flexibility: Marketing consultants typically work on short-term contracts, which can provide businesses with a great deal of flexibility. With short-term contracts, businesses can bring in marketing expertise on an as-needed basis without committing to a long-term, full-time employee. This can be especially beneficial for businesses that have fluctuating marketing needs or are going through a period of transition.
2. Cost savings: Hiring a full-time employee can be expensive, as businesses need to provide benefits, pay for training, and cover other associated costs. Marketing consultants, on the other hand, typically charge a project-based or hourly rate for their services. This can be a more cost-effective option for businesses that need marketing expertise but do not have the resources to hire a full-time employee.
3. Specialized expertise: The best marketing consultants often have specialized expertise in specific areas of marketing, such as SEO, social media, or content marketing. By bringing in a marketing consultant with specific expertise, businesses can ensure that they are getting the best possible advice and guidance in that particular area. 
4. Quicker results: Marketing consultants are typically brought in to help businesses achieve specific marketing goals within a set timeframe. Because of this, marketing consultants are often focused on delivering data-driven results that are measurable and impactful. This can be attractive to businesses that need to see results quickly or are under pressure to improve their marketing efforts in a short period of time.

Despite these benefits, one should still remember that it’s not always the responsibility of the marketing consultant to execute the tactics. They are in charge of marketing strategy. Thus, once a business agrees on a marketing consultant rate, the consultant will then assess the business’s current marketing efforts and identify areas for improvement. Should the consultant have a team, they may be the ones to execute on some of the strategies. 

This may include analyzing market trends, identifying target audiences, and reviewing the effectiveness of current marketing campaigns. Based on this analysis, the consultant will work with the business to develop a marketing strategy that aligns with its overall goals and objectives.

Once a strategy has been established, the consultant will typically hand off the implementation of specific tactics to the business’s marketing team. This may include tasks such as developing content for social media, creating email marketing campaigns, and managing advertising campaigns. While the consultant may provide guidance and oversight, the day-to-day execution of these tasks is typically handled by the business’s internal marketing team.

Next, let’s look at two common compensation methods for marketing consultants: project-based vs hourly rate.

Project-Based Rate vs. Hourly Rate: Marketing Consultant Compensation

The hourly rate marketing consultant compensation model is a simple and flexible model that can be used in a variety of situations. Under this model, the marketing consultant charges a set hourly rate for their time, which is billed to the client on a regular basis, such as weekly or monthly. The hourly rate typically reflects the consultant’s experience and expertise, as well as the level of demand for their services.

The average hourly marketing consultant rates are $28 per hour in the United States. The advantages of choosing an hourly compensation rate for a marketing consultant are: 

• It provides a level of transparency and control for the business: With this method, businesses can monitor their consultants’ hours and adjust the scope of work or budget as needed. This can help ensure that a business is getting the most value for its investment and can adjust its budget and resources accordingly.

• It can be more cost-effective for businesses that have short-term or ad-hoc needs: For instance, a business may need a marketing consultant to provide a one-time review of its website or social media presence. Under this scenario, an hourly rate model may prove to be cost-effective, as the business only pays for the time needed to complete the specific task.

Despite these pros, there are also cons to marketing consultant rates that are hourly based. For instance, an hourly rate may not allow the consultant to work as efficiently or effectively, as they are limited in how long they can work on a project. Furthermore, if the consultant is paid solely based on their time spent on the project, some consultants may not have as much motivation to complete the work quickly or deliver the highest quality work possible. 

Also, hourly-rate compensation may not provide as much clarity or predictability around the total cost of the project. Because the total cost is based on the consultant’s hourly rate and the amount of time spent on the project, it can be difficult to estimate the total cost upfront. This can make budgeting and planning more challenging for businesses, especially those with limited resources or budgets.

Thus, the alternative to this would be project-based rates/compensation. A project-based compensation means that marketing consultant rates are a fixed fee for a specific project or set of deliverables. This fee is typically negotiated upfront and is based on the scope of the project, the consultant’s expertise and experience, and the expected deliverables.

Business owners and managers should note that project-based compensation is ideal for projects with an obvious beginning, middle, end, and clear deliverables. As for the advantages of this compensation approach, they include:

• Clarity and transparency around the scope of work and the associated costs: This approach can help ensure that both parties are aligned on the objectives and deliverables of the project, and can help avoid any misunderstandings or surprises down the road.
• Incentivizing the consultant to work efficiently and effectively, as they are motivated to deliver high-quality work within the agreed-upon timeframe: This can be especially valuable for businesses that have limited resources or budgets, as it helps ensure that they are getting the most value for their investment.
• Flexibility and adaptability to the specific needs of the business: For example, a business may hire a marketing consultant for a specific project, such as developing a new branding strategy or launching a new product. Once that project is completed, the business may decide to hire the consultant for additional projects or ongoing support, or they may choose to end the relationship.

However, project-based compensation does also have its weaknesses. For instance, if a business needs sudden ongoing support or guidance, project-based compensation would simply not make sense.

Contact us here if you would like to find the best fractional CMO for your business.

Factors That Influence Marketing Consultant Services Rates

Before we conclude, it is worth looking into some of the factors that affect marketing consultant services rates. 

Marketing consultant rates can vary greatly depending on several factors. By understanding the marketing consultant day rate and the factors affecting it, businesses make informed decisions when selecting a marketing consultant and negotiating fees. 

Here are five key factors that can influence marketing consultancy rates: 

1. The size of the company: The size of a company is one of the most significant factors that can impact marketing consultancy rates. For instance, larger companies tend to have larger marketing budgets and may require more extensive marketing strategies, which can result in a higher hourly rate (marketing consultant will ask for a higher rate due to the need for more work to be done). Smaller companies, on the other hand, may have limited marketing budgets and require more targeted and efficient marketing services.
2. The location of the company: The location of the company can also influence marketing consultant rates. Marketing consultants based in large cities or in areas with a high cost of living may charge more than consultants in smaller towns or regions with lower living expenses. This is because consultants in larger cities may have higher operating costs and higher demand for their services, resulting in a higher marketing consultant hourly rate.
3. The type of company: The type of company can also impact marketing consultancy rates. For example, companies in highly regulated industries—such as finance or healthcare—may require specialized knowledge and experience, which can result in higher fees. Similarly, startups or businesses in emerging industries may require more innovative and customized marketing solutions, which can also impact consultancy rates.
4. The scope of the project: The scope of the project is another critical factor that can affect marketing consultancy rates. A simple marketing audit or a brief social media campaign may require less time and resources than a comprehensive marketing strategy for a new product launch. On the other hand, the more extensive the project, the higher the fees may be.
5. The consultant’s experience and expertise: Finally, the experience and expertise of the consultant can also influence marketing consultancy rates. Consultants with extensive experience and a track record of success in a specific industry or marketing specialty may be in high demand and charge higher fees. Conversely, less experienced consultants or those with a more general skill set may charge lower rates.

Tips for Negotiating Marketing Consultant Rates 

Knowing how to negotiate is vital for businesses looking to get the best marketing consultant rates. Thus, to help with this, here are some tips to remember:

• Never be the first to mention a price
• Never negotiate against yourself, i.e, if you suggested a price, don’t immediately suggest a lower or higher price
• Only begin price negotiations when you are ready
• Know the maximum you can pay, and don’t exceed it
• Be ready to walk away if things don’t work out. 

By learning how to negotiate, businesses can ensure they find the right fit, achieve fair pricing, build a strong working relationship, avoid miscommunication, and maximize ROI. 

If you are considering hiring a fractional CMO, book a free consultation with our CEO here and we can see if we are a good fit made in business heaven.

For small to medium-sized businesses with little marketing experience, marketing consulting is crucial for them if they are looking to grow and succeed. It involves hiring a professional marketing consultant to provide expert advice, guidance, and solutions to help a business reach its marketing goals. But who are marketing consultants? 

A marketing consultant is a marketing professional who provides expert advice, guidance, and solutions to businesses on their marketing strategies and tactics. They typically have extensive knowledge and experience in marketing and a deep understanding of a particular industry’s marketing techniques. However, one should note that consultants tend to specialize in a specific type of marketing or industry.

Marketing consultants work with businesses to develop and implement marketing plans that help achieve their goals, such as increasing revenue, building brand awareness, or expanding their customer base. The main objective of marketing consulting is to help businesses improve their marketing efforts and achieve success in their industry.

Just how important is marketing consulting? According to Mayple, the US government spent $705 million in 2020 on marketing consulting services. This highlights just how vital marketing consulting is not only to businesses but to the federal government as well. So just how exactly does marketing consulting work?

The marketing consulting model

To better understand how marketing consultancy works, let’s look at the marketing consulting model. A marketing consultant model works together with a business model to deliver value to a business. It consists of:

• Market research: This is the process of collecting and analyzing information about the target market, customer preferences, behaviors, and demographics. Market research aims to gain a deeper understanding of the customers and their needs, which helps inform the marketing strategy. There are two types of market research: primary research and secondary research. 

1. 1. 1. Primary research involves collecting new data through surveys, interviews, or focus groups. 
      2. Secondary research involves analyzing existing data from various sources, such as industry reports, market trends, and competitor analysis. 

• Marketing strategy: This is a plan that outlines how a company will reach its target market and achieve its marketing goals. A marketing strategy typically includes the 4Ps of marketing: product, price, promotion, and place. The product refers to the goods or services being offered, while the price refers to the cost of the product. Promotion includes advertising, sales promotions, and public relations activities. Place refers to the distribution channels used to sell a product or service. Marketing consulting will enable a company to develop a marketing strategy that aligns with its business objectives and target audience.

• Marketing analytics: It involves using data to measure and analyze the effectiveness of marketing campaigns. By tracking and analyzing data such as website organic traffic, social media engagement, and conversion rates, an organization can gain insights into how successful its marketing efforts are and identify areas for improvement. Marketing consultants will work with companies to develop systems for measuring and analyzing marketing data to inform future marketing decisions.

• Persona analysis: A persona is a fictional representation of a business’s target customer based on market research and customer data. Thus, persona analysis involves creating detailed profiles of the target customer, including their demographics, behaviors, and preferences. A company can better understand its target audience through persona analysis and develop marketing campaigns that resonate with them.

The benefits of marketing consulting services

So what are the benefits one can expect from marketing consulting, now that we understand the consulting model? 

• Lower cost than an in-house marketing manager:  A marketing consultant typically charges a flat fee or hourly rate, which is often lower than the salary and benefits of a full-time marketing employee. Additionally, a marketing consultant is typically only hired for specific projects or campaigns, so no ongoing costs are associated with their employment. This can prove to be extremely beneficial for small and medium-sized businesses with limited budgets.
• Assured delivery with minimal stress: Marketing consultants are experts in their field/specialty and have experience working on various marketing projects. When a company hires a marketing consultant, they can be assured that the project will be delivered on time and to a high standard. This can reduce stress for the business owner or marketing team, who may not have the same level of expertise in a particular area of marketing.
• A fresh perspective on marketing efforts:  Hired marketing consultants are not part of the company and, therefore, can provide an unbiased view of the company’s marketing strategies. This can lead to new and innovative marketing ideas that the company may not have considered. They can also provide a new perspective on existing marketing efforts, identifying areas for improvement and optimization. 
• Flexible access to marketing expertise: They (marketing consultants) can be hired for short-term or long-term projects, and their expertise can be tailored to the company’s specific needs. This means that a business can access marketing expertise as and when needed without committing to a long-term employee.
• Access to a larger network of marketing experts: A network of marketing experts that a business can tap into could be beneficial in the long run. This can include graphic designers, copywriters, social media experts, and more. By hiring a marketing consultant, a business can access this wider network of expertise without having to hire each expert individually.

Must-have Skills To Look For in Marketing Strategy Consultants

We have already listed the benefits that marketing strategy consultants offer businesses. But what type of skills should they possess for effective marketing consulting? Some must-have skills for marketing consultants include:

• Effective communication
• Product marketing
• Analytics
• Attention to detail
• Lead generation
• Copywriting
• Leadership
• Use of various marketing automation tools
• Problem-solving
• Content management
• Creative thinking
• Social media marketing
• Market research
• Marketing strategy

In addition to the above, don’t forget to look at their references and testimonials for services that they have provided. This way, you ensure that you are hiring someone who has delivered for others in the same industry as yours.

Contact us here if you would like to find the best fractional CMO for your business.

Marketing Consultancy Companies and What To Look for When Hiring Them

Marketing consultancy companies provide professional marketing consulting services to businesses of all sizes. Unlike a marketing consultant, who is likely to be a single individual working on your company’s marketing efforts, marketing consulting companies typically consist of a team of marketing experts with a wealth of knowledge and experience in different areas of marketing.

Thus, assuming you are looking to choose from one of the top marketing consulting firms, there are several factors you should consider: 

• Budget: Before you begin your search for marketing consultancy firms—or even marketing strategy consultants—you need to determine how much you can afford to spend on marketing services. The cost of marketing consultancy services can vary depending on the firm’s size, location, and expertise. It’s essential to get quotes from several firms and compare their prices to ensure you’re getting the best value for your money.

• References: As was previously stated when discussing marketing consultants, another crucial factor to consider when choosing a marketing consultancy firm is its references. A reputable marketing consultancy firm will have a list of satisfied clients who can vouch for their marketing strategy services. You can ask for references from the firm and contact their previous clients to get an idea of their experience working with the firm. Alternatively, check online reviews and ratings to see what other clients have to say about the firm.

• Experience: You want to work with a firm that has experience working with businesses in your industry or niche. A firm with experience in your industry will better understand your target audience and the challenges and opportunities specific to your industry. You can ask the firm about their experience and the results they have achieved for businesses similar to yours.

• Skills: We previously mentioned some of the skills that you should look for when hiring a marketing consultant. These same skills apply when hiring a marketing consulting company. Do what you can to verify that the firm has people with the above listed skills and any other skills you think may be needed for your business’s marketing efforts. .

• Relationship and Communication: Lastly, the relationship and communication between you and the marketing consultancy firm are essential. The firm should be responsive to your questions and concerns and provide regular updates on the progress of your marketing efforts. A good marketing consultancy firm will also work collaboratively with you and your marketing team, if any, to develop and implement marketing strategies that align with your business goals.

Marketing Consulting vs. Marketing Agency

As we conclude, it is worth looking at marketing consulting vs. marketing agency and which you should choose for your business. 

A marketing agency refers to a business that offers various marketing services to other businesses. These services may encompass activities like advertising, social media, public relations, email marketing, content creation, and many others.

Unlike a marketing consultant specializing in a particular industry or marketing methodology, agencies can perform all marketing tasks. 

However, one should consider the cost, expertise, and services provided before deciding whether to employ a marketing consultant or a marketing agency. You can read our blog, where we dive a bit deeper into the pros and cons of each. 

For more on recent trends in digital marketing, read our blog and talk to us if you are considering hiring a fractional CMO. 

As a business owner, choosing the right marketing strategy is crucial for achieving your goals and staying competitive in today’s fast-paced market. Thus, two of the most popular options for marketing expertise involve choosing between a marketing agency vs. consulting.

While both can offer valuable services and expertise, there are pros and cons to each approach, and the decision can be challenging. So what are the differences when comparing a marketing agency vs. consulting? First, let’s define each.

A marketing agency is a company that provides a wide range of marketing services to businesses. These services include advertising, public relations, social media, email marketing, content creation, and more. 

Marketing agencies typically have a team of experts with various specializations, such as designers, copywriters, social media managers, and account managers. They work with clients to develop and implement comprehensive marketing strategies that align with the client’s business goals.

Should you choose to hire a marketing agency, you are, in effect, hiring a whole marketing department for your organization. The benefit of this is that an excellent marketing agency will identify areas of weakness in your marketing strategy and help your business improve its customer acquisitions. 

As for a marketing consultant, this is an individual who provides strategic marketing advice and guidance to businesses. Marketing consultants typically have extensive experience in marketing and specialize in a particular industry or type of marketing. 

They work with clients on a project or ongoing basis to provide tailored solutions to their marketing challenges. Consultants often focus on strategic planning, market research, and analysis and may collaborate with other marketing professionals as needed.

The misconceptions: marketing agency vs. consulting services

Before we look at the pros and cons of each, it is worth getting some common misconceptions about each out of the way.

• One option will offer us more attention than the other: Many assume that hiring a consultant means working with a single individual who can provide personalized attention to your business needs. Conversely, some assume that hiring an agency means working with a large team that may not be as focused on your specific needs. In reality, both options can offer personalized attention to your business needs, and the level of attention you receive will depend on the specific consultant or agency you choose to work with. 

• The consultant we hire will be the only one doing the work: While it is true that consultants often work independently, they can also collaborate with other external professionals to help you achieve your business goals. Consultants can work with a team of experts, including analysts, strategists, and designers, to deliver the marketing results you desire. Similarly, agencies can work with a single point of contact in your organization (such as the marketing director), ensuring everyone works together to achieve your business objectives.

• Because they (the consultant or the marketing agency) worked with a popular company within the same industry, they must be capable of delivering results: While it is true that experience can be a valuable asset, it doesn’t guarantee success. Each business is unique and faces different challenges, and what worked for one company may not work for yours. Thus, choose a consultant or marketing agency based on their expertise and experience in your industry or niche. 

With these misconceptions out of the way, we can move on to the next deciding factor; the pros and cons of a marketing agency vs. consulting.

Fractional CMO Agency vs. Consultants: Pros and Cons

Before continuing, it’s worth defining what a fractional CMO agency is. A fractional CMO agency is a company that provides fractional Chief Marketing Officer (CMO) services to businesses and has an in-house team to help with execution. A fractional CMO is a part-time or project-based CMO who helps businesses develop and implement marketing strategies.

For the purposes of this blog, we will assume that a fractional CMO agency and a marketing agency perform the same tasks and are one and the same. 

Let’s now take a look at the pros and cons of marketing agency vs. consulting

Pros of hiring a marketing agency

• Access to multiple resources: One of the primary benefits of working with a marketing agency is gaining access to multiple resources you may not have otherwise had. These resources can include software tools, marketing automation platforms, social media scheduling tools, guides, marketing methodologies, and more. With access to these resources, your business can stay up to date with the latest marketing trends, discoveries, and technologies, which can help you stay ahead of the competition.

• Relationships and networks with other leading marketing institutions and industry experts: These relationships can be valuable in helping your business gain access to the latest marketing trends, insights, search algorithm changes, marketing best practices, and resources. Additionally, these relationships can help your business gain exposure to a broader audience, which can help increase brand awareness and drive traffic to your website.

• Comes with teams with a wide range of expertise for your business needs: These teams can include marketing strategists, content writers, graphic designers, social media experts, SEO specialists, and more. With this team of experts, your business can tap into a range of skills and knowledge that can help you achieve your marketing goals more efficiently and effectively.

• The ability to scale with your business: As your business expands, you may need to adjust your marketing strategies and tactics to keep up with the changing market and customer conditions. A marketing agency can help you adapt to these changes by providing the resources, expertise, and support you need to grow and scale your business.

• Larger bandwidth for testing while still staying up to date with industry developments and changes: This capability of a marketing agency can help you identify what works best for your business while still staying ahead of the curve in terms of industry trends and best practices.

Cons of hiring a marketing agency

• Cost: Hiring a marketing agency can be expensive, particularly if you’re a small business or a startup with limited resources. Marketing agencies typically charge based on the scope of work, the complexity of the project, and the amount of time and resources required to achieve a specific SMART goal. This can be a significant investment for your business, and you may need to carefully consider whether the benefits of working with a marketing agency outweigh the costs.

• They may require access to some of your sensitive systems: While many marketing agencies are reputable and trustworthy, there is always a risk when you grant access to sensitive systems to a third-party provider. As these agencies have lots of people working for them, you may need to take extra precautions to ensure that your data is protected and that your systems are secure. Hence, carefully consider the scope of work you give a marketing agency and the level of access they require. For example, you may restrict access to certain systems or provide limited access on a need-to-know basis.

Pros of hiring a marketing consultant

• They are a cost-effective option for startups and small businesses: Marketing consultants typically charge an hourly or project-based rate, which can be more affordable than hiring a full-time marketing employee or working with a marketing agency. This can be particularly beneficial for startups and small businesses with limited resources and budgets. By working with a marketing consultant, you can get the expertise and guidance you need to develop and execute a marketing strategy without breaking the bank.

• Ease of building one-to-one relationships: When you work with a marketing consultant, you can communicate more directly with them, which can help build trust and rapport. If you’re a small business or startup just starting out and need more personalized attention and guidance, this can be extremely beneficial for you. 

Cons of hiring a marketing consultant

• You’re often hiring a one-stop shop: This means that one person is tasked with not only your marketing strategy but the strategies of all of their other clients as well. This can mean that your consultant’s attention is divided, and they may not be able to provide as much focused attention and tailored guidance as you would receive from a larger marketing team or agency. Also, because marketing consultants typically work independently, they may not have access to the same resources and tools as larger marketing agencies, limiting their ability to provide comprehensive and cutting-edge marketing solutions.

• They may adopt a “set it and forget it” mentality with PPC efforts: PPC campaigns require ongoing monitoring and optimization to ensure they deliver the best possible results. However, marketing consultants juggling multiple clients may not have the bandwidth to provide the ongoing attention and monitoring that a PPC campaign requires. This can result in campaigns that are not optimized and may not deliver the results you’re looking for.

Contact us here if you would like to hire an industry leading marketing agency for your business.

Agency vs. Firm: The Differences 

It is worth mentioning that there is another option that a business might want to consider when looking for marketing expertise: agency vs. firm. In the above, we listed the pros and cons of marketing agency vs. consulting. While marketing consulting does have its pros, a marketing agency may be the best option for those looking for scalability and a wide range of expertise. 

But what about a marketing firm? A marketing firm is a small group of professionals with a limited range of services, usually specializing in one or two areas of marketing. Firms are ideal for businesses looking for one particular marketing specialty. For example, a firm might specialize in search engine optimization (SEO) or social media marketing.

Basically, a firm tends to be a good fit for only specific, specialized requirements, while a fractional CMO agency covers all of your marketing needs and any new ones that arise unexpectedly. Thus, if you are looking for a fractional CMO for hire, always be sure to look for one that has excellent client reviews.

Key Factors To Consider When Choosing Between a Marketing Agency vs. Consulting 

We have looked at common misconceptions in regard to a marketing agency vs. consulting service. In addition, we have also looked at the pros and cons of marketing agencies and consultants. In all of these were listed key factors that you should consider when determining which of the two to pick. These key factors were:

• Cost
• Level of marketing expertise needed
• Level of service provided
• Time needed to see results 
• Level of relationship and communication required

By considering these key factors, you can better determine which is best for you and your business. 

For more on recent trends in digital marketing, read our blog and talk to us if you are considering hiring a fractional CMO.

Marketing is a crucial aspect of any business and plays a vital role in determining its success. It involves promoting a product or service to potential customers and creating awareness about the brand. Should you choose to hire a marketing consultant, they will help your business attract new customers, retain existing ones, and increase sales and revenue.

According to a marketing report by Hubspot, businesses that prioritize content marketing have a 13X positive ROI compared to those that don’t. Furthermore, only 27% of businesses’ marketing teams report that they are effectively tracking their marketing metrics.

In today’s highly competitive market, having a solid marketing strategy is crucial for a business to succeed. A well-crafted marketing plan can help a business to achieve its goals, reach its target audience, and establish a strong brand identity. This is why it may be best to hire a marketing consultant. 

A marketing consultant is a professional who provides expert advice and guidance to businesses on their marketing strategy based on past experience and results from real businesses in different industries. When you choose to hire a marketing consultant, you should expect an individual that will help your business identify its target audience, determine its marketing goals, and develop a comprehensive plan to reach those goals.

As for the skills to look out for, these include: 

• Online marketing: A marketing consultant should have a deep understanding of online marketing techniques such as Search Engine Optimization (SEO), Pay-Per-Click (PPC) advertising, email marketing, and more. They should also be knowledgeable about the latest trends and technologies in online marketing to ensure that their clients’ campaigns are up-to-date and effective.
• Social media marketing: Social media has become an increasingly important marketing channel for businesses of all sizes. Hence, should you hire a marketing consultant, they should have experience in developing and executing social media campaigns that drive engagement, build brand awareness, and increase sales. They should also deeply understand the various social media platforms and how to use them to reach the target audience.
• Copywriting: This is the process of writing text for advertising or other forms of marketing communication. The role of copywriting is to create compelling and persuasive messages that engage the target audience and encourage them to take a specific action, such as making a purchase or filling out a form. If you hire a marketing consultant with excellent copywriting skills, they should craft copy that appeals to the target audience, their needs, and their motivations.
• Public relations: Public relations is an important aspect of marketing that involves managing a company’s reputation and relationship with its stakeholders. A marketing consultant should have experience in developing and executing public relations campaigns that help to build and maintain a positive reputation for the business.
• Direct response marketing: This type of marketing is designed to elicit an immediate response from the target audience, such as making a purchase or filling out a form. A marketing consultant should have experience in developing and executing direct response campaigns that drive results and generate leads for the business.

In the next section, we will look at the role of a CMO consultant in a business, and what you should expect when you hire one. 

The Role of a Fractional CMO Consultant in Driving Marketing Performance

The acronym CMO stands for Chief Marketing Officer. With this in mind, a fractional CMO consultant is an experienced marketing professional who provides strategic guidance and support to businesses. 

The role of a fractional CMO is to help businesses develop and execute marketing strategies that achieve their goals, such as increasing sales, building brand awareness, and generating leads.

A fractional CMO consultant brings a wealth of experience and knowledge to the table, having worked with various businesses and industries. They have a deep understanding of marketing concepts and best practices, as well as the latest trends and technologies in marketing. This knowledge allows them to provide customized, data-driven solutions that help businesses achieve their marketing objectives.

One thing worth mentioning if you want to hire a marketing consultant is the difference between a marketing consultant and a fractional CMO. While both roles involve providing marketing support to businesses, there are some key differences between the two.

A marketing consultant is a professional who provides marketing guidance and support to businesses. They may specialize in one or more areas of marketing, such as online marketing, social media marketing, or copywriting. 

However, if you hire a marketing consultant, they will have a more hands-off approach. This means that they will be working from outside your organization, providing you or a chosen marketing staff member with results and recommendations.

On the other hand, a fractional CMO consultant is a more senior-level marketing professional who provides strategic guidance to businesses. The role of a CMO consultant is to serve as a virtual Chief Marketing Officer, providing leadership and direction for the marketing function. 

Fractional CMOs typically have a broad range of marketing experience and expertise and work closely with businesses to develop and execute comprehensive marketing strategies. Unlike a marketing consultant, a fractional CMO has a more hands-on approach, as they work from within your organization and with your team. 

Thus, a CMO consultant helps drive performance by acting as a: 

• Growth Driver: The primary role of a CMO consultant is to drive growth for the business. They do this by developing and executing marketing strategies that increase sales, generate leads, and build brand awareness. CMO consultants bring a wealth of experience and expertise to the table, and they use this knowledge to help businesses identify new growth opportunities and develop effective marketing plans to capitalize on these opportunities.
• Innovation Catalyst: A fractional CMO consultant also acts as an innovation catalyst, helping businesses stay ahead of the curve regarding marketing trends and technologies. They bring a fresh perspective to the table and are always looking for new and innovative ways to help businesses achieve their marketing goals. Whether exploring new channels, experimenting with new tactics, or introducing new technologies, a fractional CMO helps businesses stay ahead of the curve in marketing innovation.
• Brand Story Teller: A strong brand story is crucial for businesses, as it helps to differentiate them from their competitors and build emotional connections with their target audience. Thus, a CMO consultant is crucial in helping businesses develop and tell their brand story. They work with businesses to understand their unique value proposition and help them craft compelling messaging that captures the essence of their brand and resonates with their target audience.
• Capability Builder: Finally, a CMO consultant acts as a capability builder, helping businesses build the internal marketing skills and capabilities they need to succeed. 

At Strategic Pete, we believe that empowering our clients to succeed in marketing long after we’re gone is what sets us apart from other marketing agencies. Our unique approach not only provides expert marketing support but also teaches your marketing team the strategies, tactics, and systems they need to succeed on their own. 

When you work with Strategic Pete, you’ll receive hands-on training and guidance, so you can feel confident in executing successful marketing campaigns even after our engagement has ended. Furthermore, you not only get the expertise of a fractional CMO, but you also get an effective marketing team to speed up your business’ success.

Contact us here if you would like to empower your marketing team with effective marketing systems and strategies.

8 Tips for Maximizing Your Marketing Budget with the Right Marketing Consultant Services Agency

Maximizing a marketing budget can be a complex and challenging task for businesses of all sizes. With so many options for promoting products and services, it can be challenging to determine the most effective methods to reach target audiences. 

Choosing the best marketing consultant services agency can go a long way in ensuring that your business makes the most of its marketing budget. Others may instead opt to hire a marketing consultant. In this section, we will look at how to maximize your marketing budget when using the right marketing consultant services. 

It is worth noting that some of the tips offered here can also be used by marketing contractors. These tips for maximizing your marketing budget include: 

1. Measuring Customer Lifetime Value (CLTV) by source

Doing so allows a business to understand which marketing channels and tactics are driving the most valuable customers. This information is crucial in deciding where to allocate the marketing budget. 

By calculating CLTV, a business can determine the total value a customer brings over their lifetime and use this information to prioritize and allocate budget to the channels that drive the highest CLTV. 

Having a CMO consultant that can measure CLTV helps the business maximize the return on investment of its marketing efforts and ensure that it is making the most of its budget.

2. Implementing SEO into content marketing

By optimizing content for search engines, a business can increase its visibility and attract more traffic to its website. If done correctly with the help of a fractional CMO, this can lead to more conversions and, ultimately, increased sales. 

Implementing SEO into content marketing helps a business maximize its marketing budget by targeting the right audience and increasing its reach without relying on paid advertising. Additionally, SEO is a long-term strategy that can provide sustained results, allowing the business to maximize its marketing budget over the long term.

3. Focusing on the quality of content instead of the quantity of content

As much as “content is king,” quality is more important than quantity when it comes to content marketing. High-quality, engaging, and relevant content will help a business attract and retain customers while also generating more leads and conversions. 

However, producing a large amount of low-quality content will not have the same impact and may even harm the business’s reputation. 

4. Thinking with long-term results in mind

Those who play the long game ultimately win in the marketing space. This means that the business should not focus solely on short-term gains but on building a strong brand and reputation that will yield long-term results. 

By thinking long-term, a business can organize its marketing budget to provide sustained results and maximize the return on investment.

5. Expanding the top of the business’ marketing funnel

The top of the marketing funnel refers to the initial stage of the customer journey, where a potential customer is made aware of the business and its offerings. Expanding the top of the funnel involves reaching a wider audience and attracting more potential customers. 

This can be done by creating and distributing high-quality content, leveraging influencer marketing, or engaging in targeted advertising campaigns. By doing so, a business can maximize its marketing budget by attracting more potential customers and increasing its reach.

6. Optimizing content for conversions

Conversion Rate Optimization (CRO) is the process of improving the performance of a website or landing page to convert more visitors into customers. Doing so can help a business maximize its marketing budget by ensuring that its content effectively drives leads and sales. 

CRO involves testing and analyzing different website elements, such as headlines, images, and call-to-actions, to determine what works best and make the necessary changes to improve performance.

7. Leveraging PR efforts

Public Relations (PR) refers to the practice of managing and shaping the reputation and image of a company, individual, or organization. It involves strategic communication to build and maintain strong relationships between an entity and its stakeholders, such as customers, employees, partners, media, and the wider public.

By leveraging PR efforts, a business can secure media coverage, increase visibility, and improve its reputation.

8. Engaging in strategic partnerships

Strategic partnerships can be an effective way to maximize a business’s marketing budget. They can take many forms, including joint promotions, co-branded events, or cross-promotion initiatives. By partnering with complementary businesses, a business can tap into new markets, reach new audiences, and increase its visibility.

The Future of Marketing: Hire a Marketing Consultant or Hire a Fractional CMO

The future of marketing is being shaped by the integration of virtual reality (VR), smart technology, and a more informed audience. These advancements are changing how businesses interact with customers and are creating new opportunities for brands to engage and connect with their target audience.

Thus, should you be having trouble choosing whether to hire a marketing consultant or a fractional CMO for your company, Always consider their experience first. Then, consider whether you want someone who will simply offer you advice or someone who will be hands-on working with your team to ensure your marketing success. 

A fractional CMO may be your best option if you are looking for the latter. 

For more on recent trends in digital marketing, read our blog and talk to us if you are considering hiring a fractional CMO.

A fractional CMO agency is a type of marketing agency that provides chief marketing officer (CMO) services on a part-time or project basis. Essentially, fractional CMOs act as outsourced CMOs, working with companies on flexible schedules to help them achieve their marketing goals.

It is worth noting that fractional CMO agencies offer a wide range of marketing services, including:

• Marketing strategy development: An effective fractional CMO agency will work with a company to develop a comprehensive marketing strategy that aligns with their overall business goals.
• Lead generation and management: Businesses of all sizes and shapes need effective lead generation and management strategies to remain competitive, however their own internal resources may not always be sufficient. That’s why fractional CMO agencies offer these services to help companies tap into new potential markets and grow their customer base.
• Marketing automation: A fractional CMO agency will help a company implement marketing automation tools to streamline their marketing efforts and drive better results.
• Analytics: Marketing analytics are an invaluable asset to have when aiming to get the most out of marketing efforts. Fractional CMO agencies understand this, which is why they offer such a service to clients. This allows businesses to make smarter decisions about their marketing budget and resources by creating data-driven insights that help inform and shape their strategies.
• Education: Strategic Pete is one of the only fractional CMO agancies that actually shares its methods and strategies with its clients. By doing so, they empower their clients to do the marketing themselves without the need for further consultation. 

By working with a fractional CMO agency, companies can tap into the expertise of a seasoned marketing professional without the cost and commitment of hiring a full-time CMO. 

Fractional CMO Cost

As companies look to stay competitive in an ever-changing business landscape, fractional CMO agencies are becoming an increasingly popular option for businesses of all sizes. However, one thing that must not be overlooked is the fractional CMO cost to a business.

When compared to a full-time CMO, one of the biggest advantages of working with a fractional CMO agency is the cost savings. The cost of a fractional CMO is typically a fraction of the cost of a full-time CMO, making it a more cost-effective option for many companies.

The first is the hourly rate, which ranges from $150 to $375 per hour. While it may seem like a lot, they only work on a part-time basis according to your business needs. This can be a good option for businesses that are just starting out and don’t need a full-time CMO. 

On the other hand, as of December 2022, the yearly salary of a full-time CMO would range from $294,719 to $415,038. Note that this does not include any additional benefits expected, such as healthcare and travel benefits. Even a small or medium-sized company may not have the budget for a full-time CMO.

It’s also important to note that a fractional CMO agency will only work with a company for a set number of hours or on a specific project, while a full-time CMO would be on the payroll all year round. For companies with fluctuating workloads or seasonal businesses, a fractional CMO can be a more cost-effective option, enabling them to scale up or down their marketing efforts as needed.

Other than the cost, there are also additional benefits to hiring a fractional CMO agency, such as:

• Instant access to experienced professionals with decades of experience
• Maximization of the Return on Investment (ROI) of marketing efforts
• Quicker marketing results
• Adaptability to changing business needs and changing digital marketing needs
• T2D3 (triple, triple, double, double, double) growth, especially for SaaS businesses.

For companies looking for a cost-effective and flexible option for their marketing needs, a fractional CMO agency can be an excellent choice. While the costs of a fractional CMO are lower than those of a full-time CMO, they still provide access to the skills and expertise needed to drive a company’s marketing efforts forward.

Contact us here if you would like to find the best fractional CMO for your business.

Hire Fractional CMO Agencies: 5 Key Considerations

When small to medium businesses are looking to hire fractional CMO agencies, they are often faced with the challenge of picking which fractional CMO agency would best suit their unique needs. Note that this goes beyond just fractional CMO rates, as an organization needs to ensure they choose an agency that will meet their expectations.

Below are five considerations for businesses when choosing a fractional CMO agency: 

1. Take into account your goals

When working with a fractional CMO agency, you will need to work with them to develop a comprehensive marketing strategy that aligns with your overall business goals. Business goals can vary significantly depending on the industry and the company’s growth stage. 

For example, a startup may focus more on building brand awareness, while a more established company may be looking to increase sales and expand its market share. Thus, you want to look for a fractional CMO agency that understands your company’s position and can tailor its services to best meet those needs.

As you do so, don’t forget to analyze the fractional CMO cost and whether or not your company can afford the fees. 

2. Analyze the agency’s processes and its team

If you are looking for a fractional CMO for hire and stumble upon an agency that interests you, always try and analyze their processes and get to know its team. 

A fractional CMO agency’s process refers to the methods and techniques it uses to develop and implement marketing strategies. The agency’s process should be thorough and well-defined, taking into account a company’s business goals and target audience. It should also be flexible, allowing for adjustments and changes as needed. A good agency should be able to explain its process and how it aligns with your company’s objectives.

As for the team, the marketing agency should have a team of experienced and qualified professionals who are able to provide a wide range of marketing services. The marketing team should be diverse and include experts in areas such as branding, lead generation, and marketing automation. 

3. Analyze their reviews, and their reputation

Reviews and testimonials can provide valuable information about an agency’s performance, such as the effectiveness of their marketing strategies, the quality of their customer service, and their ability to meet deadlines. They also can provide insight into the agency’s area of expertise and the size of companies they have worked with in the past. All of this information can help you make a more informed decision when choosing a fractional CMO agency.

Look for the agency’s reviews on review sites, or you can read the reviews on their own website. A number of agencies tend to post testimonials on their own websites as a way of proving their credibility. 

Also, be sure to look for patterns in customer feedback. If multiple clients have had positive experiences with an agency, that generally indicates that the agency is able to deliver results. On the other hand, if an agency has consistent negative feedback or low ratings, that could be an indication that the agency may not be the right fit.

4. Compare pricing of different agencies

As was previously mentioned, cost is one of the reasons for companies to choose a fractional CMO over a full-time CMO. However, each fractional CMO agency has its own pricing structure/pricing model. 

Costs can vary greatly depending on the agency and the specific services being provided. For example, some agencies may offer a lower hourly rate but charge additional fees for certain services (SEO, social media marketing, etc.), while others may have a higher hourly rate but include more services in their base package.

Thoroughly research the costs associated with each agency and how they align with your marketing budget. However, don’t just let the cost of service be the main deciding factor. You should also consider the value that an agency can bring with its marketing efforts. 

An agency that delivers excellent results and generates a positive ROI can be well worth the investment, even if it comes with a higher price tag.

5. Involve key players in your organization

Every company will have key players/stakeholders who will be affected by a fractional CMO agency’s marketing efforts. They include individuals from departments such as sales, product development, and IT, who will help ensure that the agency understands the unique challenges and opportunities that each department faces. 

This can lead to more effective and targeted marketing strategies that align with the company’s overall goals and objectives. Also, involving key players also helps to gain buy-in and commitment from stakeholders. When key players have been involved in the selection process, they are more likely to be invested in the success of the marketing strategy and to actively support the initiatives that come out of it.

By evaluating the above mentioned factors, businesses can make an informed decision and choose a fractional CMO agency that aligns with their budget, marketing needs, and overall business objectives.

Why Strategic Pete May Be the Fractional CMO Agency for You

We have discussed the five key factors that you should consider when looking for a fractional CMO agency. If you are undecided, you may want to consider Strategic Pete.

At Strategic Pete, we understand that as a business owner, you wear many hats and have limited resources. That’s why we offer fractional CMO services that give you access to the expertise and skills of a full-time chief marketing officer, without the high cost of hiring one in-house.

Our team of experienced marketing professionals will work closely with you to understand your business, goals, and target audience. We’ll then create a tailored marketing strategy that is designed to drive growth and increase revenue. And, unlike traditional agencies, we won’t just execute the plan and disappear. 

We’ll educate and empower you so that you can continue to run successful campaigns long after our engagement ends. By choosing Strategic Pete, you’ll not only get results, but also the knowledge and tools you need to achieve long-term success.For more on recent trends in digital marketing, read our blog and talk to us if you are considering a fractional CMO agency.