Benefits of a Fractional CMO for Small Businesses
When you hear the term CMO (Chief Marketing Officer), chances are you think big business and corporations. But if you ask me, small businesses can benefit just as much from having a CMO as the big boys!
What is a Fractional CMO?
Fractional CMOs provide strategic marketing leadership, expertise, and guidance to organizations without requiring the commitment of hiring a full-time CMO. We often work with small or mid-sized companies that do not have the budget or need for a full-time CMO, or with larger organizations that require additional expertise for a specific project or initiative.
How Can a Fractional CMO Help your Small Business?
What I’ve found working with hundreds of small businesses is that they typically know all the things they need to do in order to market their business but they don’t always know how to connect those dots to keep it all really strategic. This leads to seeing some results but they typically hit a plateau and don’t know how to break past that.
This is where a fractional CMO comes in.
We can step in to identify why you’re hitting that plateau and help you statically tweak and connect all your brand and marketing elements to be able to more easily scale. We simply serve as a resource and strategic guide to your company.
Here are some of the biggest ways that a fractional CMO can help your small business:
Strategic Planning
A fractional CMO can help your small business develop a marketing strategy that aligns with your overall business goals. We can help identify target audiences, develop messaging, and create a plan for reaching and engaging with potential customers.
Branding
A fractional CMO can help your small business develop a strong brand identity and persona that differentiates your business from competitors. We can help develop a brand voice, visual identity, and messaging that resonates with your target audience.
Marketing Campaigns
A fractional CMO can help your small business develop and execute marketing campaigns that generate leads, increase brand awareness, and drive sales. We can help with everything from developing campaign themes and messaging to selecting the right channels and tactics to reach your target audience.
Analytics and Reporting
A fractional CMO can help your small business measure the success of your marketing efforts by tracking key metrics and analyzing data. We then provide insight into what's working and what's not and help make data-driven decisions about future marketing activities.
Leadership and Training
A fractional CMO can provide leadership and guidance to your existing marketing team or help you build a new team. We can also provide training and assistance to ensure that your team has the skills and knowledge needed to execute your marketing strategy effectively.
Overall, a fractional CMO can provide your small business with the expertise and guidance needed to develop and execute a successful marketing strategy, without the cost and commitment of hiring a full-time CMO.
Signs You Need a Fractional CMO
While I do think most small businesses could benefit from a fractional CMO, that doesn’t mean every single one needs to hire one. Here are some of the biggest signs you might need a fractional CMO:
Lack of a Clear Marketing Strategy
If your business lacks a clear marketing strategy, it can be challenging to know how to effectively reach and engage with your target audience. You may already know you don’t have a clear strategy or you feel like you have a strategy but it’s just not quite working the way you’d like. A fractional CMO can help identify what is and isn’t working and then develop a comprehensive marketing strategy aligned with your business goals and objectives to actually start driving results. Here are some signs your marketing might not be working.
Inconsistent Brand Messaging
If your brand messaging is inconsistent across different channels and touchpoints, it can lead to confusion among your target audience. A fractional CMO can help develop a strong brand persona and messaging that differentiates your business from competitors and resonates with your target audience. Learn more about how to make your brand memorable here.
Stagnant or Declining Sales
If your business is experiencing stagnant or declining sales, it may be a sign that your marketing efforts are not effectively reaching your target audience or there has been a shift in the market that you need to address. A fractional CMO can help identify where the disconnect is and how to fix it so you can drive more sales. Here are 3 reasons why people aren’t buying from you.
Limited Marketing Expertise
If your business lacks in-house marketing expertise, it can be challenging to effectively execute your marketing strategy. Chances are you’re also your marketing department or you have a very small team that’s where a lot of hats. A fractional CMO can provide expertise, guidance, and oversight to make sure your marketing is strategic and stays that way while also increasing your capacity.
Time and Resource Constraints
If your business is small or mid-sized, you may not have the budget or need for a full-time CMO. And again, you’re likely also doing a lot of your own marketing which means it’s pulling you away from your zone of genius capping your (and potentially your team’s) capacity. A fractional CMO can help give you back some time.
Overall, if your business is struggling to effectively reach and engage with your target audience or develop and execute a successful marketing strategy, a fractional CMO can help provide the expertise and guidance needed to achieve your goals.
Why You Should Hire a Fractional CMO
While a fractional CMO might seem like a luxury to have on your team, we can actually be a huge asset that allows you to strategically propel your business forward and at an accelerated pace. We bring a lot of knowledge and expertise to the table at a much more affordable cost than hiring a full-time CMO.
Cost-Effective: Hiring a full-time CMO can be expensive, and if you’re a small or mid-sized business, it might be completely out of the budget all together. Hiring a fractional CMO allows you to access senior marketing expertise on a part-time or project basis making it much more accessible for small businesses. Consider this: A full-time CMO is likely in the $200,000+ range but if a fractional CMO charges you $3-5k/mo that’s only $36-60k per year (and sometimes you don’t even need us for a full year).
Flexibility: A fractional CMO can be hired on a part-time or project basis, allowing you to scale up or down as needed. This provides flexibility for businesses that have fluctuating marketing needs or budgets.
Expertise: A fractional CMO brings a wealth of marketing expertise and experience to your business. We can provide strategic guidance, develop a comprehensive marketing strategy, and help execute marketing campaigns that generate leads and drive sales. Instead of spending time and money trying to figure it out yourself, we can step in and provide a comprehensive analysis of your marketing allowing you to more quickly see results.
Objectivity: A fractional CMO can provide an objective perspective on your business and marketing efforts. We can identify areas of improvement and provide insights into how to effectively reach and engage with your target audience, and while we are invested in your business and treat it as our own, this objectivity can be crucial in identifying areas of improvement because we aren’t so close to the project.
Leadership and Strategic Guidance: A fractional CMO can provide leadership and guidance to your existing marketing team or help you build a new team. We can also provide training and guidance to ensure that your team has the skills and knowledge needed to execute your marketing strategy effectively.
Overall, hiring a fractional CMO can be a cost-effective way to access senior marketing expertise and guidance, improve your marketing strategy, and drive business growth.
Fractional CMO Services
As a small business, you likely have a lot of varying needs that change from month-to-month. That’s where the flexibility of a fraction CMO can help. I offer a variety of support for my clients including (but not limited to):
Marketing audit to identify areas of improvement
Repositioning and brand strategy
Monitor analytics and provide suggestions on adjustments to optimize marketing efforts
Audit, monitor, and implement an SEO strategy
Develop a sales funnel using existing assets
Advise on and help negotiate brand partnerships
Pitch as experts to relevant press opportunities
Sales page strategy and design
Aligned and strategic content creation
Conversion optimization
Looking to hire a fractional CMO?
I’d love to chat to see if I’d be a good fit for your particular needs. Learn more about The CMO Partnership!
Not sure what you need but know you could use some support? Reach out and I’ll help guide you in the right direction (whether that’s working with me or not!)
