We used to call them ‘Part-Time Marketing Execs’.
But that carried a somewhat negative connotation and didn’t do justice to the seniority of expertise involved.
Then the tides changed – both in the nature of companies needing this on-demand resource, and in the type of work that consultants and employees have been gravitating towards recently.
Perhaps it’s a result of remote working trends. Perhaps it’s the benefits of automation and AI finally reducing the need for full-time resource.
Or perhaps (and more likely), it’s a combination of factors that are increasing the need for what is known as a Fractional CMO (Chief Marketing Officer).
To find out more about what a Fractional CMO does, you can head over here.
Right now, we’ll take a closer look at some of the benefits that startups in particular can leverage from hiring a Fractional CMO.
Why is a Fractional CMO a good choice for Startups?
Let’s face it, startups are messy!
They’re constantly pivoting in an effort to get market traction.
They’re spinning up new processes on the fly to prove out SaaS features.
And they’re very often experimenting with different marketing channels to find their perfect target audience.
The trap that many startups fall into, however, is in thinking that they can hire a junior to mid-level marketing manager to do all of this.
Yes, I’m talking about those unicorn job descriptions where the marketing person is responsible for a million and one different things, and has years’ of experience in tools that have only been around a few months!
If this sounds like you and your startup, then read on…
Of course, this unicorn marketing manager is ambitious, scrappy and puts in 110%.
But they also don’t necessarily have the experience to approach things in a considered way.
Or to give some extra thought to certain activities that might not be right at that time.
Or to push back on experiments that have been tried and tested before and won’t work for the target audience.
This is where a Fractional CMO comes in.
A Fractional CMO can provide that strategic oversight, guidance and advice that comes with a number of years’ experience. But they don’t have to be there 100% of the time because, frankly, as a startup, you don’t need a full-time CMO and your money would be better spent elsewhere.
With a Fractional CMO, however, you’ll get ‘to-the-point’ guidance and advice, expert strategic planning and oversight, and mentorship to the younger members of your team who, with this guidance, can execute more effectively. And the bonus? This all comes at a fraction of the cost of a full-time senior hire!
5 key benefits of hiring a Fractional CMO for Startups
It doesn’t take a rocket scientist to work out what the top benefits are for startups in hiring a Fractional CMO over a full-time hire.
Here are my top five:
- Cost-effectiveness: Fractional CMO’s typically work on a part-time basis, which means they’re more affordable than hiring a full-time CMO. For cost-conscious startups with limited resources, the choice is a no-brainer.
- Expertise: Fractional CMO’s have a wealth of experience and knowledge in marketing and can provide startups with valuable insights and strategies that they might not have access to otherwise. Because they work across multiple clients and oftentimes different industries, they can also bring best practices that help startups stay ahead of the curve.
- Flexibility: Fractional CMO’s can be hired on an on-demand basis, meaning that startups can benefit from their expertise only when they need it. More on that over here.
- Focus: Fractional CMO’s are particularly good at helping startups prioritise their marketing efforts and develop a clear-cut, focused strategy. For early-stage startups, this is pure gold as it means you’re not wasting money on activities that might not be right for your business.
- Access to a network: By dint of their experience, Fractional CMO’s often have extensive networks, which can be leveraged to help startups gain additional exposure or connect with potential investors, customers or partners.
Whatever you want to call them – Part-Time Marketing Execs or Fractional CMO’s – they’re a great choice for ambitious startups who want to add that extra layer of senior support and expert structure.
Interested in learning more about how a Fractional CMO can help your startup?
Just get in touch and we’ll be happy to chat.