Your business is at a crossroads. It’s crucial to go in the right direction.
Businesses that begin to see a plateau in their growth pattern face the challenge of shifting from predominantly organic growth to predominantly marketing-driven growth.
Early in any company’s history, the founder tends to be the brand’s #1 asset. That’s true not only when it comes to strategy and operations, but relationships.
However, that calculus is bound to change over time.
Even when senior leadership bands together to represent the brand, there comes a point of diminishing return. Your time is so valuable, and marketing so complex, that it only makes sense to delegate it to dedicated experts.
That’s when you reach the fork in the road:
- Should you hire a full-time marketing leader?
- Or do you need a fractional CMO instead?
Your decision will determine when – and if – your growth trajectory reaches that all-important next benchmark. While many leaders think full-time first, a fractional CMO is often the #1 choice to lay the foundational platform your enterprise needs to overcome its current plateau and launch toward new heights.
Why the Obvious Answer Isn’t Always Best When it Comes to Marketing ROI
When they reach this crossroads, many businesses will start the process of recruiting a marketing director or a full-time CMO. Although this is logical, it can be misleading. A full-time CMO can take up to a year to find. If a suitable candidate is chosen, they may still take up to a year to architect a team and deliver real results.
Plus, the costs associated with a full-time leadership hire are substantial. Your CMO or marketing director will need to hire anywhere from one to five other professionals for day-to-day marketing support. When all is said and done, much of this overhead is permanent. And it is all before you have a single penny of “marketing ROI.”
Here are the key reasons why a fractional CMO offers superior marketing ROI:
A Fractional CMO Is Cost-Effective
A senior marketing director or chief marketing officer could draw hundreds of thousands of dollars in direct compensation alone. In addition, a savvy business owner like you needs to think ahead to all of the added complexity, including added cost of liability and benefits for someone who may not stand the test of time.
A fractional CMO could bring you all the promised value of a full-time hire with none of the drawbacks. A more attractive rate and an end date on the horizon mean you can expect measurable marketing ROI, getting the strategy and guidance your team needs within the specific timeframe you need it.
A Fractional CMO Can Offer Better Sales Integration
There is no question about it: Sales and marketing are different departments with fundamentally different strategies. But in today’s business climate, where customers themselves control the tempo of the buyer’s journey, the two sides can’t afford to be siloed away from one another in isolation.
To maximize its effectiveness, marketing should be an invaluable resource to your sales team. A CMO can work with your sales leaders to ensure your company’s strategic marketing plan integrates the needs of the sales team and empowers them to reach their own goals. Ultimately, both teams benefit and so does your business.
A Fractional CMO Can Provide Hands-On Service
A fractional CMO blends the experience of a consultant with the leadership of an internal staff member. Unlike a traditional consultant, fractional CMOs do not mind “walking through the trenches,” taking on the necessary responsibilities, delegating to the proper personnel, and holding team members accountable.
This “player-coach” orientation means your fractional CMO is invested in your success and has the same level of commitment as any other stakeholder. Everyone rows in the same direction. That means there should be no disconnect between your team and your fractional CMO that could lead to inefficiency and disengagement.
A Fractional CMO Can Deliver Full Strategic Planning
Just like you, an experienced fractional CMO can build both short- and long-term strategy into every plan. That adds much-needed perspective: It can be hard for internal leadership to approach things from an “outsider perspective,” and most marketing teams are notorious for their focus on a company’s short-term needs.
Bringing in a fractional CMO allows a professional, yet unbiased, evaluation of your marketing department’s needs. Armed with that information, and in concert with you, your fractional CMO can then take concrete action to add long-term value and ultimately create the marketing ROI you want.
When All is Said and Done, a Fractional CMO Makes Sense for Your Business
In some cases, hiring a full-time senior marketing leader can be the right move. For most enterprises, however, a fractional CMO makes more sense. Leaders like you can save money, discourage unnecessary complexity, and achieve strategic clarity through a time-limited engagement with clear objectives and expectations.
Talk to Andrew & West to find out more and get started.
