Increasingly, businesses are turning to the help of fractional CMOs, which are very similar to traditional CMOs in terms of their role and responsibilities. But how exactly do these fractional leaders work? How are companies utilizing them? And what’s the explanation behind the rising popularity of this powerful marketing approach?

The Basics of Fractional CMOs

A fractional CMO is a leader in the marketing field who has the knowledge, experience, and access to resources necessary to help businesses succeed in their marketing endeavors. If you compare the resumes of traditional CMOs and fractional CMOs, you probably won’t notice much of a difference.

The difference lies in how fractional CMOs are hired and used within the context of a business. A traditional CMO is hired as a full-time employee, meant to lead the entire marketing department on a consistent, ongoing basis. A fractional CMO, by contrast, is typically a contractor who works on a part-time, flexible basis. Depending on the needs of your organization, you may use a fractional CMO as a kind of consultant, as a temporary CMO, or as a traditional CMO who only works part-time.

Because there are so many different types of fractional CMOs and so many different ways to use them, there isn’t a single definitive archetype of a fractional CMO.

The Benefits of Fractional CMOs

These are some of the benefits of using a fractional CMO:

·         Knowledge and expertise. Many companies choose to work with a fractional CMO so they can get access to a robust body of knowledge and expertise. A typical fractional CMO has more than a decade of marketing experience, and they can likely bring new insights into your organization.

·         Lower costs. A fractional CMO is almost always cheaper than a full-time employee. While saving money may not be the primary motivation for hiring a fractional CMO, it certainly is a nice benefit. This is especially important if your organization no longer has a traditional CMO or can no longer afford one.

·         Flexibility. Business leaders love the idea of a fractional CMO in part because of the flexibility of this position. You can use your CMO as a consistent leader, as a temporary consultant, or anything in between. If your current fractional CMO doesn’t work out, you can easily hire a different one. As your business needs change and as you gain more marketing experience, you can shift your relationships with your fractional CMOs.

·         Accessibility. Hiring a fractional CMO is relatively easy, especially as the position becomes more popular. Because the relationship is so flexible, neither party has to make a big commitment – and you can bring new fractional CMO reinforcements to your marketing department at any time.

·         Problem resolution. Fractional CMOs specialize in resolving problems. If there’s a critical marketing problem you haven’t quite solved, or if you’re struggling to decide how best to spend your marketing dollars, a fractional CMO could be exactly what you need.

·         Outside perspective. In line with this, a fractional CMO gives you an outside perspective, which is invaluable for organizations plagued with stagnation or the hive mentality. Oftentimes, all it takes is an educated outsider to make up for your blind spots.

Why Fractional CMOs Are Getting More Popular

In addition to the practical benefits, these are some other reasons why the fractional CMO is getting more popular.

·         The evolution of the traditional CMO. Part of the increased popularity is attributable to the evolution of the traditional CMO. Some businesses are cutting the CMO role entirely, while others are adding new responsibilities to the traditional CMO. Thanks in part to rapid developments in marketing technologies and in part to shifting internal hierarchies, the traditional CMO is in a strange, nebulous space. A fractional CMO is often a convenient solution to this problem.

·         Budget concerns. Organizations need to be smart with how they spend their marketing dollars. If you spend a lot of money on a high-level executive, that money is likely going to come directly from your marketing budget overall. If you’re trying to stretch every dollar, a fractional CMO can give you the leadership and expertise you need for much less money.

·         Rapidly evolving marketing environments. The best marketing channels today would have been wholly unpredictable a decade ago. Next decade’s top marketing channels are unpredictable today. The world of marketing is evolving very quickly, and stagnant, traditional CMOs often can’t keep up. Dynamic, flexible fractional CMOs are helping to close this gap.

Is your organization searching for fresh marketing energy? Or are you interested in a traditional CMO without really having the budget for one? If so, a fractional CMO could be the perfect solution. Consider exploring your fractional CMO options to see who might be a good fit for your organization.