There’s no denying that marketing is essential to the success of any business. But if you don’t have the budget for a full-time marketing executive or agency, it can feel like you’re stuck on a frustrating merry-go-round. Letting someone go to make room in the budget for marketing help is not an ideal solution¬, and neither is going without marketing assistance altogether. This is where fractional marketing comes in.
What is Fractional Marketing?
Fractional marketing is the practice of outsourcing a portion—that is, a fraction—of your marketing department to part-time experts. You keep some full-time in-house personnel while filling the gaps with part-time workers.
Fractional marketing services can help you grow your brand, product line, and service offerings. A fractional Chief Marketing Officer (CMO) can also help you stay ahead of your competitors by regularly working to improve your campaigns. This is a beneficial strategy for businesses that want to improve their online presence but don’t have the requisite time, expertise, or experience to do it themselves.
Why hire a fractional executive with marketing skills?
If you’re looking to reduce your business running costs but still get more results from your marketing, you should consider fractional marketing. A fractional CMO can help you achieve your goals without breaking the bank. Hiring an agency for additional services can be expensive and doesn’t always yield the best ROI. Fractional marketing services can provide you with the expertise you need to succeed without overspending.
Adding a fractional C-suite marketing leader into the mix means getting all the high-level thinking and decision-making that comes from having a C-suite level marketer without the full-time commitment or price tag. You also get the benefit of having someone who’s unbiased and objective when it comes to your business.
Fractional Chief Marketing Officers might only be part-time in your organization, yet they are most likely managing a handful of different marketing teams at other companies. This translates into a wealth of knowledge and experience that your business can benefit from. This will both save you money and bring a fresh perspective to your marketing initiatives. A part-time marketing executive can immediately identify areas that need improvement and offer creative solutions to common problems.
Experienced with managing an array of marketing strategies, a fractional CMO can provide you with the strategic insights you need to make more informed decisions about your marketing campaigns. A fractional c suite leader has the necessary skills and experience to develop a marketing strategy for your business that will get results. They know the type of content that resonates with your audience as well as how to analyze data to optimize your campaigns.
How fractional CMO services value add to your business
· Set marketing goals and objectives: This ensures that everyone is on the same page and knows what needs to be accomplished.
· Leadership: Fractional CMOs provide leadership and guidance to your marketing team. They can help you make decisions about which campaigns to pursue and how to allocate your resources.
· Achieving significant ROI: Fractional c-suite marketing leaders are experienced professionals who know how to get results. They will work tirelessly to ensure that your campaigns are successful and that you see a return on your investment.
· Gaining experience of a marketing leader: By working with a fractional Chief Marketing Officer, you will gain the experience and knowledge of a marketing leader. This can be invaluable for businesses that are looking to grow and expand their reach.
· Not overburdening the existing team: Fractional CMO services can take some of the burden from your full-time marketing team. This can allow them to focus on other projects and tasks, which can improve their overall productivity.
· Flexibility: You can hire them for a short-term project or an ongoing relationship. This allows you to get the assistance you need without making a long-term commitment.
· Zero long-term commitments: This means that you can cancel their services at any time without penalty. This is a great option for businesses that want to try out outsourcing before making a commitment.
What does a fractional CMO do?
• Design, plan and execute effective marketing campaigns:
Fractional Chief Marketing Officers are experienced in designing, planning, and executing marketing campaigns. They will work with you to develop a campaign that meets your specific goals and objectives.
• Preliminary competitor analysis & other forms of SEO research:
To develop an effective marketing strategy, it’s important to understand your competition. Fractional CMOs work with your team to drive competitor analysis and other forms of SEO research to help you stay ahead of the curve. Some may also hire external partners such as an SEO company to help with execution or guidance.
• Keep the marketing budget in check:
One of the most important duties of a CMO is to keep the marketing budget in check. Fractional CMOs will work with you to develop a budget that meets your needs and ensures that you are getting the most bang for your marketing spend.
• Work with the sales department:
Fractional c-suite marketing leaders understand the importance of working with the sales department. They will work closely with your sales team to ensure that they are aligned with your marketing goals.
• Determine and track KPIs on a regular basis and present reports:
In order to gauge the success of your marketing campaigns, it is important to track KPIs on a regular basis. A fractional marketing director will determine the KPIs that are most important to your business and track them on a regular basis. They will also present reports to you so that you can see the progress that is being made.
The list goes on.
A fractional director of marketing can do all of the above and more. They are experienced professionals who know how to get results. If you are looking for a way to improve your marketing campaigns, hiring a fractional c-suite marketing professional may be the answer.
When should you hire a fractional CMO?
There is no one-size-fits-all answer to this question. Every business is different and has different needs. However, there are some general guidelines that you can follow. If you are experiencing any of the following, it may be time to hire a fractional CMO:
• Your marketing campaigns are not getting results
• You are not sure how to set marketing goals and objectives
• You need help making decisions about which campaigns to pursue
• You are not seeing a return on your marketing investment
• Your marketing team is overburdened and could use some help
• You want to gain the experience and knowledge of a marketing leader
• You need more flexibility in your marketing arrangements.
If you are experiencing any of the above, it may be time to hire a fractional marketing leader. A fractional CMO can help you achieve your marketing goals, save money, and get more results.
How much does a fractional CMO cost?
The cost of hiring a fractional CMO varies depending on the scope of work and the length of the project. However, businesses can expect to pay anywhere from $1000 to $5000 per month for fractional CMO services. This is a fraction of the cost of hiring a full-time CMO.
How do I find and hire a fractional CMO?
There are a few different ways to find and hire a fractional CMO. The first option is to search online. There are a number of websites that offer fractional c-suite services. Another option is to contact an agency. There are several agencies that specialize in placing fractional CMOs with businesses.
What is the best way to implement this approach?
Here are a few tips for implementing a fractional marketing agency approach in your business:
• Define your goals and objectives
• Develop a budget
• Create a timeline
• Find an agency that specializes in fractional marketing
• Work with the agency to develop a customized plan
• Implement the plan and track results.
Following these guidelines helps ensure that your fractional marketing agency project is successful.
A fractional marketing approach can help you achieve your marketing goals, save money, and get more results. If you want to improve your marketing campaigns, hiring a fractional c-suite marketing professional may be the answer. To further understand how a fractional marketing approach can benefit your business, consult with a specialist or look for further insights online