Fractional CMO services can benefit companies of all sizes by providing expert marketing leadership while freeing up resources for other parts of your organization. However, some types of businesses rely on these services more than others. In this blog, we dive into the opportunities that fractional CMO services can provide your business.
What Is a CMO in a Company Structure?
A chief marketing officer (CMO) fits into the overall structure of your company as the head of all things marketing, advertising, and sales. In other words, the CMO is responsible for growing an organization’s revenue.
As a C-suite level executive, other department members report up to the CMO. Typically, a marketing director will work directly underneath the CMO. While the CMO focuses primarily on planning and overarching strategy, the marketing director works with the department’s marketing managers to actually execute campaigns and other initiatives. Reporting to the marketing managers are account executives and other specific roles.
Fractional CMOs fill the same position as traditional, full-time CMOs. However, they tend to focus on a specific project or initiative. This allows businesses with fewer resources to still benefit from expert leadership without paying for the full scope of services through a yearly salary.
Curious to see how a fractional CMO could strengthen your company’s structure? Get in touch today!
What Is the New Role of the Chief Marketing Officer?
The role of the CMO in a company is to increase revenue by optimizing marketing, advertising, and sales strategy. Specific duties performed by CMOs include:
- Analysis: CMOs look for areas in their marketing, advertising, and sales strategy that could improve to produce more revenue.
- Research: CMOs stay current on market and customer behavior trends to guide decision-making.
- Strategy: CMOs lead the direction of marketing campaigns and other revenue-generating initiatives.
- Oversight: CMOs keep their eyes on the big picture as their team implements campaigns to ensure everything is performing as it should (and changing course as necessary).
- Negotiation: CMOs work with high-profile third-party service providers to get the best deals for your business.
- Growth: CMOs plan adjustments to their department’s size to meet your business’s changing needs.
Fortunately, you can benefit from the above chief marketing officer skills without tying up resources into a full-time CMO. Contact us today to learn more about the advantages of fractional CMOs.
Do All Companies Have a CMO?
Many companies—especially startups and other small businesses—don’t have a CMO, and that’s a problem. The CMO is responsible for growing revenue, and that’s not a task you want to leave undone.
Without proper, specialized leadership, the role of the CMO in a startup falls onto other members of leadership. While these team members will do their best to fill in for a vacant role, businesses without a CMO will often experience less effective marketing results while also burning out employees in other departments.
Fractional CMOs allow smaller businesses, including startups, to benefit from the expertise of a CMO at a fraction of the cost. Contact us to learn more.
What Size Company Needs a CMO?
Companies of all sizes can benefit significantly from the roles a CMO performs. However, not all companies need a full-time CMO on their payroll 365 days a year. While major corporations can benefit from the full scope of a traditional CMO role, small- and mid-sized businesses should consider working with a fractional CMO.
Marketing is a role your business needs to get right. When all goes according to plan, you connect with new customers and increase revenue. When marketing plans don’t materialize, your business loses its investment. Fractional CMOs give your organization the leadership it needs to plan and execute effective strategies. Get in touch to learn more.
Who Needs a Fractional CMO?
Companies with limited resources who still want to increase their revenue need a fractional CMO. Every business needs to grow its revenue to compete, and fractional CMOs provide expert leadership that’s cost-effective for smaller organizations. To gauge your need for a fractional CMO, ask the following questions:
- Does my organization have a leadership member who’s dedicated to marketing efforts?
- Has my organization run unsuccessful marketing campaigns?
- Could my organization benefit from improved cohesion between marketing, advertising, and sales efforts?
If you answered yes to any of these questions, give us a call today.
Does a Company Need a CMO for a Startup?
Startups are growth-oriented, which makes the role of CMO even more important. In fact, a high growth rate is the best way to attract investors (and keep the lights on). Unfortunately, many startups don’t have excess funds for a full-time CMO. Instead of leaving vital marketing functions up to chance, startups can work with fractional CMO service providers to level up their marketing strategy.
When Should I Hire a CMO?
CMOs can benefit your business at any time you want to grow revenue. Let’s face it, when don’t you want your revenue to increase? That being said, certain stages in your business’s growth could benefit more from CMO services than others. For example, once your marketing department grows to about ten or more people, it becomes increasingly important to have a CMO to guide direction.
You should not hire a CMO if your organization doesn’t have the resources to. Instead, consider a fractional CMO. Contact us to learn more.
Contact Us Today To Learn More About Fractional CMO Services!
All companies need marketing, and fractional CMO services allow your business to access marketing expertise like never before. To supercharge your leadership, reach out to discuss fractional CMO options for your organization.
