How Can a Fractional CMO Help My Business Grow?

County Wexford Chamber
County Wexford Chamber business feature - Dynamic Marketing

When it comes to marketing, there can be a lot of jargon thrown around. So, it’s understandable if “Fractional CMO” seems like just another buzzword. However, this concept holds substantial value for businesses, especially SMEs.

Many SMEs know they need to grow sales to scale and expand, but face budget and resource constraints. This is where a Fractional CMO (Chief Marketing Officer) can provide invaluable assistance.

What is a Fractional CMO?

A Fractional CMO is a part-time, senior marketing executive who provides C-suite expertise on a part-time basis. Unlike traditional CMOs who are full-time employees of a single organisation, a Fractional CMO splits their time across several clients. This allows each business to benefit from seasoned marketing leadership at a fraction of the cost of a full-time executive.

How Can a Fractional CMO Help My Business Grow?

There are many advantages to engaging with an outsourced or Fractional CMO including:

  • Access to C-suite experience without the high price tag: The main benefit is that your business gains access to top-level marketing expertise without the hefty salary and benefits package of a full-time CMO. Full-time senior executives demand significant compensation, which many SMEs cannot afford. By engaging a Fractional CMO, businesses can leverage the experience of a marketing leader with a track record of driving growth, all at a more manageable cost.
  • Scalable expertise: The marketing needs of an SME are dynamic and evolve over time. Initial stages might focus on brand awareness, go-to-market messaging, and competitive positioning. As the business grows, lead generation and retention strategies become crucial. Once activities are established and automated, marketing can shift to maintenance mode. A Fractional CMO provides flexibility, offering expert guidance when needed and scaling back during slower periods.
  • Mentoring in-house teams: Given their experience of working within and leading marketing teams, a Fractional CMO plays a crucial role in mentoring and developing in-house marketing teams. This mentorship helps staff enhance their skills, gain confidence, and advance in their careers thereby reducing staff turnover and ensuring continuity across all marketing efforts.
  • Developing a comprehensive Marketing Strategy: Many SMEs struggle with understanding the competitive landscape defining their market positioning. A seasoned Fractional CMO will work with a business to identify ideal buyers, understand how they engage with the brand, and develop a go-to-market proposition that differentiates the business from competitors.
  • Maximising multi-channel marketing activities: Today’s buyers are tech-savvy and use multiple channels to research and search for social proof. This makes having a presence across multiple channels crucial for success. But again, this can be an area that many SMEs lack expertise in. A Fractional CMO can advise on the most appropriate marketing channels based on budget and target buyers, ensuring a consistent presence across digital, social media, content marketing, email marketing, and traditional marketing channels.

How to Find the Right Fractional CMO for Your Business

Just as every business is unique, so too are the skillsets of Fractional CMOs.

Here are some areas to consider before speaking to candidates:

  • What support are you looking for? Even if you don’t know exactly what you need, having an idea will help the executive outline their expertise and how they can assist you.
  • How long of an engagement are you looking for? Initially, this could be an unknown quantity. However, if the project is timebound or tied by budget, discussing this upfront helps set expectations.
  • What does success look like for you? Have a clear idea of what you want achieved – that might be a consistent calendar of activities or perhaps a specific project-related goal like revenue or customer acquisition.

Marketing is a continuous process and, in a world where effective marketing is crucial for survival, partnering with a Fractional CMO might be the strategic advantage your business needs to not only survive, but to thrive.

 

About the Author

Lissa McPhillips is a seasoned marketing expert with over 25 years of experience.

She has significantly contributed to high growth start-ups and market entrants both at home and overseas and has overseen the development and expansion of internal marketing teams.

Through Dynamic Marketing, Lissa now works with SMEs across several sectors as an outsourced or Fractional Head of Marketing, helping businesses to seize growth opportunities and maximise their market reach.

To discuss how Lissa can help your business scale and grow, contact her at Lissa@dynamicmarketing.ie