For family-owned businesses, the dynamics are unique, the stakes are personal, and growth can sometimes seem like a daunting challenge. Leaders are often wearing many different hats in operations, sales, finance, maintenance, human resources, and more. As I like to joke, you may hire someone and sign a contract one hour, and the next you're taking out the trash.
Maximizing the value of every precious hour is crucial for maintaining quality, fostering a strong culture, and driving sales. Adding in the hat of "marketing" can often be difficult, especially when you may not know where to start in today's ever-changing digital world.
This is where Fractional CMO services prove invaluable, providing the advantages of a full-time Chief Marketing Officer without the expenses and long-term commitment associated with a full-time hire. Let's discuss more about what a Fractional CMO is along with some of the benefits it can provide.
What is a Fractional CMO?
To put it simply, a Fractional Chief Marketing Officer is a part-time executive who takes charge of your marketing program and holds responsibility for all your marketing outcomes. They have a spot with the leadership team and act as a true extension of your business. Think of the "general manager/coach" if you're a sports fan.
A great Fractional CMO will come in and quickly learn all the ins and outs of your company, align with your growth goals, develop a brand strategy that highlights your unique values, and then execute the strategy through different marketing channels in order to differentiate your business from competitors while enticing customers to buy from you.
Benefits of a Fractional CMO
Fresh Perspective- One of the key benefits of a Fractional CMO is the fresh perspective it brings to your business. Sometimes, being too close to the business can make it hard to see things objectively. A Fractional CMO can help identify unseen opportunities and underleveraged assets.
Mitigated Risk and Cost- A full-time marketing hire can cost organizations over 6 figures annually and that's not even accounting for the months of cost you may have in the hiring and training process. By bringing in a Fractional CMO on a contractual basis, you're able to keep costs lower while also not having to deal with the other risks associated with trying to bring on a full-time hire. Bonus, you typically will have a budget left over to deploy to other marketing needs within the program vs. just the salary it takes for the CMO.
Speed and Expertise- Most Fractional CMOs have niche experiences that allow for them to expedite strategy creation and execution. This allows for a much faster ROI.
A Fractional CMO offers an innovative solution for businesses to foster growth while navigating the unique challenges they face. They provide an infusion of fresh perspective, strategic expertise, and accelerated execution—all at a fraction of the cost of a full-time hire.
If you're wondering if Fractional CMO services are a good fit for your organization, reach out to us at GC Strategies to chat!