Someone recently asked me to explain why a company might want to hire a Fractional CMO. Here I've listed some of the top reasons or triggers that in my experience, suggests that your company needs help from an outsourced Fractional CMO.
1. Expertise - Your executive team has no marketing expertise. Often products and services get invented and sold, and overnight a business is born. Founders or technical CEOs can often take things pretty far, but at a certain point, all successful companies need some marketing expertise to help them get systematic and strategic about marketing so that the business effectively connects with customers and grows even faster. A Fractional CMO can bring decades of marketing expertise and lessons learned, combined with industry respect and connections to provide instant value.
2. Planning - There is no written marketing plan. Lack of a formal plan with strategic marketing information and tasks is a sign that a company can use some help. A Fractional CMO can help your business step back, assess the market, and put a strategic plan (in writing) in place. Then, the Fractional CMO can also assist in executing the plan.
3. Effectiveness - Current marketing plan is not working. Your company is spending money on a marketing scheme, but higher levels of awareness, leads, and revenue are not the results. Your business may need some new strategies to get out of a bad marketing course. Marketing has evolved dramatically in the last few years, and many new approaches are providing stronger business results: from content strategy to growth hacking, and marketing automation. A Fractional CMO is equipped with a big box of tools, validated with proven results from prior engagements.
4. Accountability - You ask about marketing results, and the organization can’t show any. Your team may say they “think” their marketing plan is working, but your gut tells you differently. You need concrete results. A Fractional CMO can make sure that proper marketing metrics and reporting are in place so that you know the return on marketing investment for each activity.
5. Recruiting - A top marketing executive is leaving the company. When existing marketing staff leaves, sometimes suddenly, it is a good opportunity to bring in an interim CMO to keep marketing programs going while you search for the correct full-time replacement. A Fractional CMO can help you continue with the marketing plans, focused on achieving goals and projections, while defining the right profile for the new hire.
6. Budget - Your organization needs a marketing executive but doesn’t have the budget for full-time staff. Not every company needs a full-time, senior-level marketing executive. A Fractional CMO can provide strategic direction, project management and some execution on a part-time basis, providing senior-level expertise but staying within budget.
Of course, outsourcing the marketing strategy isn't going to be the right decision for every organization. You need to know if outsourcing a Fractional CMO is a good fit for your company. Outsourcing marketing is a big decision for any company. If it is used correctly, it can bring plenty of value by putting your organization in expert hands. The key component is to understand your business needs, so you make the right decision for the future growth of your company.
A Fractional CMO can help you increase lead flows, build integrated sales and marketing processes, and gain more business faster by optimizing current customer acquisition efforts. Sound appealing? Get in touch with us, and we will be happy to discuss how outsourcing marketing could benefit your company.
DuartePino is a management advisory firm that combines in-depth customer knowledge with practical expertise in marketing to help clients create sustainable business growth. We can provide your organization with a fresh perspective, a proven process that invests in the outcome, and the tools for successful execution. From Fractional CMOs to business advisors, contact us to learn how our team can help with growth strategies for your organization.