Fractional in terms of time, full-time in terms of performance

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If you work in marketing, you know that, to consolidate a brand, you need to combine a series of skills, such as strategic thinking, market knowledge, and creativity, a range of qualities that an experienced marketing leader possesses. It so happens that many companies, especially small businesses, and startups, can't afford to hire a full-time Chief Marketing Officer (CMO) and, against this backdrop, the role of the Fractional CMO (fCMO) has emerged.

A fractional CMO offers expertise, leadership, and high-quality results, but at a fraction of the cost of a full-time hire. According to Duct Tape Marketing, Databox, and ActiveCampaign , 70% of fractional CMOs have over a decade of experience in the field, underscoring their status as highly qualified professionals.

The advantages of hiring a fractional CMO (fCMO) have been recognized by companies across various industries, particularly those focused on innovation. According to a Duct Tape Marketing survey, fractional CMOs predominantly serve companies in sectors such as:

• SaaS, Software or Technology;
• Professional Services;
• Advertising and Marketing.

In New Zealand, a study by fractional.co.nz yielded similar findings, with nearly 70% of fractional leaders (not just fCMOs) working within the Technology and SaaS sectors.

However, there is often uncertainty about whether to hire an fCMO, especially when considering it as an alternative to a marketing consultant. Let's explore the key differences between the two roles.

Who should I hire: a fractional CMO or a marketing consultant?

Essentially, the difference between these specialists lies in the depth of the relationship with the company, the length of the engagement, and the type of service performed. Have a look at the differences:

FCMO:

• They sign up for a medium to long-term commitment, becoming a temporary part of the company. To do this, they immerse themselves in the culture and routine of the business.
• They have executive authority and can participate in high-level strategic decisions.
• They develop the strategy, take part in the planning process, and supervise the execution. The fractional CMO can be involved in all stages as a marketing leader.

Marketing consultant:

• They sign up for short-term commitments and focus on immediate results.
• They are not expected to have executive authority to implement changes directly; their work typically results in recommendations or strategic guidelines.
• The consultant works in a specific area of the company, complementing the work of the internal team.

The work of the fractional CMO does not invalidate that of the marketing consultant, and vice versa. While the former offers continuous and integrated executive leadership, the latter provides an external perspective and temporary solutions to specific needs. In other words, the choice of the ideal professional depends on the business’s needs.

Now that we have clarified this issue, it’s important to highlight the challenges of this work model – both for companies and fractional CMOs – and the opportunities of using each of them.

Challenges and their solutions when implementing fCMOs in companies

It's worth noting that, just like any self-employed professional, fCMOs also face challenges. Pricing their services fairly, attracting clients, and adapting to their needs are just some of them.

Despite the challenges, adopting the fractional CMO model can offer significant value, particularly for businesses needing to achieve effective results with limited investment or those not ready to commit to a full-time executive.

For companies already convinced that an fCMO is the right choice, the next hurdle is finding the perfect fit—the ideal professional for their unique needs. Isn’t it?

These are some key insights I've highlighted about fractional CMOs from our latest article on the Fastdezine blog. Interested in learning more? Take a look:

?? Read more about Fractional CMO!