At some stage, you may determine that marketing leadership is necessary to continue growing your business. This could be due to quick growth for a small business, loss of market share for a medium business that has never needed marketing leadership before, or perhaps a change in leadership for enterprise level businesses. Whatever the reason for needing marketing leadership, a Fractional CMO may be just what you need.
Not just any Fractional CMO will do, though. Every Fractional CMO will have specific industry knowledge, varied specialties, and a wide range of marketing experiences. Before hiring a Fractional CMO, here’s what you should know.
Define Your Goals
What is your desired outcome when hiring a Fractional CMO? You should have a clearly defined goal before you seek out someone to help you reach that goal. To bring in a Fractional CMO without stating your expected outcomes is like asking them to read your mind.
Identify Your Marketing Challenges
Every organization has unique marketing challenges that a Fractional CMO can help you overcome. You’ll do your business no favors if you fail to identify these and convey them to the Fractional CMO you hire.
Some marketing challenges include a crowded marketplace, weak branding and brand recognition, confused messaging or brand voice, a small marketing budget with no real room for growth, and a history of little to no marketing that a Fractional CMO can build on.
Set Your Budget and Expectations
Know your current revenue and where you’d like to be. Clarify the amount of money you’re willing to spend on marketing, including the Fractional CMO’s fee. List the amount spent on marketing and advertising in the past, as well as any return on investment, so your new Fractional CMO will have benchmarks for their performance.
Determine Your Need
With your goals, challenges, and budget in mind, you’ll have a better idea of the Fractional CMO you can hire. Will this person be a full-time CMO for a short amount of time, such as three to six months, while a permanent solution is found? Will you work with this Fractional CMO on a part-time basis over the course of several years?
State clearly your expectations of time and effort needed from your chosen Fractional CMO, understanding that a Fractional CMO often has more than one client at any given time and often cannot give more time and attention than you initially requested.
Clarify the Expectations
Before hiring a Fractional CMO, you’ll need to take stock of your current marketing situation. Do you have a team with no leadership already in place? Is there one person struggling to handle all marketing tasks when they only have expertise in one area?
If you don’t already have a marketing team or generalist in place, that’s okay. Just be sure to convey this to your Fractional CMO so they can bring a team with them or prepare to help you build a team through strategic hiring and training.
Evaluate the Skills and Experience
As previously mentioned, each Fractional CMO will come with a wide range of experience. Evaluate the skills and experience to make sure there will be a good fit. If you’re hoping to make use of the latest technology, be sure to ask about your Fractional CMO’s experience with AI and other marketing technology before you make the hire.
Every need for a Fractional CMO is different, just as every Fractional CMO is different. You can find exactly what you need if you take the time to discover these six things before you make the hire. Even better, you’ll be positioned for success before you even begin.
To learn more about what hiring a Fractional CMO entails, feel free to reach out any time. With experience ranging from start-ups and small businesses to Fortune 500 enterprises, we may be just what you’re looking for.
