As a startup founder or CEO, you’ll understand the crucial role that marketing plays in propelling your business forward. Building out your brand, generating leads, supporting the sales team – these are just some of the things that even early-stage startups need to do with a reliable and effective marketing function.
The problem is, hiring a full-time Chief Marketing Officer (CMO) is a luxury you probably can’t afford, even as you start to scale your business and operations. Plus, you don’t always need a full-time resource – the key to effective growth is focus, focus and focus!
This is where Fractional CMO’s come into play. A Fractional CMO is an experienced marketing exec who is typically hired on a part-time (non-FTE) basis to provide high-quality marketing advice, strategy oversight and even executional support to a company.
Fractional CMO’s are perfect for when you need to ramp up resource, or you want to identify new areas for growth, or you need a more senior head overseeing junior and freelance resource – the possibilities are many!
What’s more, Fractional CMO’s are fast becoming the go-to solution for startups and small businesses looking to scale fast.
Here are just a few ways in which they can do this.
Saving your startup money
Hiring a full-time CMO can be financially burdensome for startups or small businesses with limited budgets. Fractional CMOs offer a cost-effective alternative by providing their services on a part-time or project basis. This arrangement allows you to access top-tier marketing talent without the hefty salary and benefits associated with a full-time exec. By paying for only the hours or services you need, you can allocate your budget to other critical areas of your business.
Not only that, but Fractional CMOs are experienced in working out what cost savings can potentially be made too. Whether it’s clearing out platform subscriptions that you don’t need, or identifying campaign costs that can be overhauled, the Fractional mindset is all about efficiency!
Want to know just how much a Fractional CMO can save your business?
Growing your business, fast!
Startups operate in a dynamic environment where being agile and flexible are key to success. Fractional CMOs are (by their very nature!) able to navigate the ever-changing marketing landscape and stay ahead of emerging trends. They bring a fresh perspective and a wealth of industry knowledge, letting them quickly adapt strategies and tactics to capitalise on new opportunities. Whether it’s implementing innovative digital marketing techniques or exploring untapped market segments, Fractional CMOs provide the flexibility needed to scale your business rapidly.
Balancing the strategic with the tactical
A Fractional CMO is no stranger to getting their hands dirty! Not only will they bring a wealth of strategic experience and expertise to the table, but they’ll also know when it’s the right to ‘just get stuff done’. Yes, they’ll create a marketing roadmap that aligns with your business KPI and goals. But they’ll also know how to put that roadmap into action, leveraging the right internal and external resource to maximise your growth potential.
Leaning on the wider network effect
In balancing the strategic with the tactical, a Fractional CMO will also know when specialist resource is required in order to hit growth targets. But the mindset of a Fractional doesn’t automatically think ‘headcount’. Instead, the Fractional CMO will draw on their extensive network within the marketing industry, pulling in freelancers and agencies as needed and continuing to keep your overheads down. What’s more, this network can also help you to establish partnerships and open doors to new opportunities, very handy for your future investment rounds or GTM strategy!