Beware of Fractional CMO Impostors
Fractional CMOs - Astute Group
We develop and implement FULL-SCALE MARKETING PROGRAMS that generate substantial growth for $10MM+ companies.
Business today is anything but usual! To compete in today's globally competitive, hyper-fast, information-overloaded world of business, brands must gain a competitive edge to deliver greater value and exemplify that value proposition clearly and concisely. Buyers have numerous options and access to more information than they can handle. Winning buyers over requires sound strategies, comprehensive multi-functional programs, impeccable execution, and continuous improvement.
Today, corporations look to their Chief Marketing Officer (CMO) to deliver all of this for revenue generation and profitable growth. Unfortunately, Small and Mid-Tier companies tend not to have a CMO. Their saving grace is the mainstream adaptation of outsourced or fractional executives. A fractional executive provides their expertise through outsourced services on an as-needed, or fractional basis.
This concept originated with the CFO and gained popularity in the CMO space. However, a CFO tends to have CPA Accreditation, while there is no such accreditation for a CMO. A Fractional CMOs validation comes from actual experience as a senior marketing executive developing strategies and developing full-circle programs that generate growth and help achieve the companies revenue goals.
A fractional CMO is a great option for small and medium-sized businesses needing the expertise of a CMO. A fractional CMO is not a member of the marketing department, they are part of the leadership team in an organization. As leaders, they are responsible for developing short and long-term strategies to guide the business to prosperity.
Not all CMOs are created equal, and some may be impostors who are not qualified or experienced to do the job. Currently, the U.S. has 70.4 million freelancers. That’s 36% of the workforce, according to Zippia.
However, Fractional CMO Impostors have polluted the industry with misconceptions about what a CMO really does and how they justify the higher rates paid for their services, as opposed to a marketing consultant.
These impostors are often freelancers, consultants, creative and advertising agencies, and temp firms that have limited skills and knowledge. For example, content marketing or digital marketing agencies claiming to be Fractional CMOs lack the overall business acumen and strategic expertise needed to develop full-scale marketing programs. A Fractional CMO needs to be able to provide all of the following
The CMO must align products with markets that are the right fit and develop the right value proposition for that market. This is how a Fractional CMO generates growth substantial enough to deliver a strong Return on Investment to you, the client.
Before hiring a fractional CMO, make sure to do your due diligence and research the individual or company. Look at their website, LinkedIn profile, and any other online presence they may have. Check for certification, experience, and education, as well as testimonials or reviews from previous clients.
In conclusion, hiring a fractional CMO can be a great way for small and medium-sized businesses to get the marketing expertise they need without the cost of a full-time employee. But it's important to be wary of impostors who may not have the qualifications or experience to do the job. By researching and asking the right questions, you can ensure that you're hiring a qualified and experienced fractional CMO who can help take your business to the next level.