The first key benefit of hiring a fractional CMO is knowledge. You’ll get instant knowledge about your team—a breadth of knowledge from a fractional CMO that you might not otherwise have. Knowledge that fills the gaps in your team and gives your team direction. A fractional CMO is able to delegate team members effortlessly as you adapt to your company’s growth.
You can even provide hiring recommendations if you’re ready to expand your marketing team. The extent of the increased profitability compared to another employee on the payroll is extremely encouraging when you decide whether or not to outsource. After all, when you hire someone, there are a lot of expenses that your company has to pay. Plus, you’ll expand your social media audience with new content that reflects your brand voice, which increases brand marketing awareness, and you get a fragmented CMO marketing strategy that helps attract more customers in the long run. If you look back at the last five partial surveys on CMO spending, the average budget is even 11%.
Before you give them the key to the lock, make sure you’re working with the fractional CMO that’s best for your business. But it’s important that you let an outsourced provider or some of the executive experience do their job to give them the space to grow with your company’s CMO and give yourself the freedom to focus on the areas that need your attention. For SaaS companies in particular, the holy grail of fractional CMOs is to minimize customer churn through effective customer retention. A fractional CMO with business goals can only move forward with industry expertise and a great product.
This is due to changes related to the marketing department’s digital marketing strategy and purchasing best practices, as well as to the studies and fractional CMO targeting techniques used by corporate customers. However, your fractional CMO should have a system for working with companies and proven processes that they follow. They could also bring in external resources, external group CMOs, including specialists or other agencies, to offer additional support. Finally, personal communication at executive level has proven to be much more effective as a fractional CMO.
For example, if the required service requires competencies that are not part of the CMO area of company activities, hiring internal people may be the worst option. As an internal CMO and fractional CMO, your company also saves your employees time in which they can complete their own tasks, which promotes the overall cost effectiveness of your business goals, because as you know, time is money. Therefore, it is recommended to work with a partial CMO for ten hours a week, or around forty hours per month. Part-time CMOs can do this without changing the internal hierarchy that benefits your fractional CMO business goals.
