A fractional CMO (Chief Marketing Officer), also sometimes referred to as an outsourced CMO, is a marketing executive who works on a part-time or project basis, providing strategic and tactical marketing services to a business. They are often hired as consultants or contractors to provide short-term marketing expertise and guidance.
A fractional CMO works for a set number of hours each month or quarter, typically six months to a year. They are also typically hired on a project basis, which means they are only responsible for specific tasks, such as launching a new product or developing a marketing plan.
Fractional CMOs typically work remotely, which means they can work from anywhere in the world for more than one client. They are usually well-versed in various digital marketing strategies and can quickly get up to speed on a business’s goals.
In contrast to a fractional CMO, a full-time CMO is an executive who is employed by and works exclusively for one company. They are typically in charge of all aspects of the company’s marketing initiatives, including branding, advertising, public relations, digital marketing, product launch campaigns, and more.
Having a fractional CMO brings many benefits to businesses of all sizes. Here are some of the critical benefits of having a fractional CMO:
Having listed the benefits of fractional CMOs, we can dive deeper into full-time vs. fractional CMOs.
Fractional CMO marketing offers a cost-effective solution to companies looking to outsource their marketing needs. According to research by Upwork, the US freelance workforce is expected to surpass the traditional workforce by 2027, with the Wall Street Journal noting that there is a shift in top companies and marketers valuing fractional CMO jobs.
With all these in mind, let’s look at a fractional CMO vs. a full-time CMO.
The hours worked by a fractional CMO and a full-time CMO differ in many ways. A fractional CMO is more like a consultant and is typically contracted to work part-time with a set number of hours, whereas a full-time CMO is hired to work full-time on a permanent basis.
Thus, while a fractional CMO will work for approximately 20 hours per week, a full-time CMO will work 40 hours per week as standard.
A fractional CMO will often work with a team of specialists to design and execute marketing plans as well as provide guidance and advice to the marketing team. However, they are not expected to be present for day-to-day operations and will typically only be involved in major marketing decisions and initiatives.
As for a full-time CMO, they are expected to attend meetings, provide strategic guidance and oversight to the marketing team, and work with other departments to ensure that marketing objectives are met.
Regarding the level of expertise and overall skill set, the difference between a fractional CMO and a full-time CMO depends on the domain of application. A full-time CMO typically has a more in-depth understanding of a company’s goals and products, enabling them to develop and execute comprehensive marketing strategies and campaigns.
They also tend to have a deep understanding of a specific industry and can recognize emerging market trends, allowing them to stay ahead of the competition.
On the other hand, a fractional CMO is often hired to implement specific projects or campaigns. While they may not have the comprehensive understanding of the company and its products that a full-time CMO has, they can still provide valuable insights and strategic marketing guidance.
They may also have broad expertise, which can prove helpful in companies looking to grow and expand their marketing efforts or companies that are creating new products for a new target audience.
Hiring a full-time CMO is a major decision for any business. While a full-time CMO offers the advantage of having someone dedicated to managing your company’s marketing efforts, a fractional CMO can be a more cost-effective option.
With a fractional CMO, the service cost is often based on the time the CMO spends with your company. This means that you can scale up or down the amount of time you use a fractional CMO as your needs change.
Compared to a full-time CMO, this can be much more cost-effective and allows you to access an experienced CMO without the long-term commitment and expense. Ultimately, the cost of a fractional CMO vs. a full-time CMO depends on the amount of time you need and the experience and resources of the CMO you choose.
Contact us here if you would like to find a highly recommended fractional CMO for your business.
A fractional CMO agency is a company that provides marketing support on a part-time or project basis. Rather than hiring a full-time CMO or building out an in-house marketing team, a business can turn to a fractional CMO agency for strategic guidance and execution of specific marketing initiatives.
Fractional CMO companies often have teams of marketing professionals with diverse skills and experience, allowing them to bring a range of expertise to their clients. They can help with everything from developing marketing plans and campaigns to analyzing data and measuring the effectiveness of marketing efforts.
By partnering with a fractional CMO agency, businesses can access the marketing support they need on an as-needed basis, enabling them to be more agile and flexible in their marketing efforts.
Finding the right fractional CMO agency for your business can be daunting. There are many options out there, and it can be hard to know where to begin looking for a fractional CMO. However, there are some steps that you can take to choose the right fractional CMO agency for your business:
By involving other key stakeholders in the decision to hire a fractional CMO agency, comparing pricing, assessing your goals, and understanding an agency’s marketing methodologies, you can ensure that you are making a well-informed choice that considers the perspectives of different departments and functions within your company.
In conclusion, hiring a fractional CMO can be a cost-effective and flexible way for businesses to access high-level marketing expertise. A fractional CMO agency can provide strategic guidance and execution on specific marketing initiatives, helping companies to achieve their goals and drive growth.
Additionally, a fractional CMO can be a valuable resource for businesses looking to enhance their marketing efforts without the commitment of a full-time hire. By partnering with a fractional CMO agency, companies can access the expertise and support they need to succeed in today’s competitive market.
For more on recent trends in digital marketing, read our blog and talk to us if you are considering hiring a fractional CMO.