As customers’ habits and needs change at lightning speed, marketers are left struggling to play catch-up. Sixty-three percent of them say generating leads and traffic is their number one challenge. Moreover, small and medium-sized companies lack the million-dollar marketing budgets of big brands, so they find it difficult to track metrics, engage with customers and increase online visibility.
There is a solution. A Fractional CMO provides you with C-level marketing strategies at a fraction of the cost of hiring a full-time member of staff. It’s like having a marketing expert on-demand — you choose the services you need when you need them. Here are three reasons why you need to hire a Fractional CMO right now.
1. Increase Sales and Improve Productivity
A regular CMO realigns your business and marketing goals so you can move more customers through the sales funnel. As a result, you can expect a surge in sales and a steady stream of revenue.
“The CMO is a natural candidate to help lead the company as a whole toward business changes that reflect evolving customer needs,” says David Court, writing for McKinsey Quarterly.
A Fractional CMO, however, is an even more powerful weapon in your marketing arsenal. One of these professionals will identify strengths and weaknesses in your marketing pipeline and suggest innovative techniques that will target more customers. You can, therefore, improve productivity in your workplace. Whether you’re struggling with search engine optimization (SEO) or social media, a Fractional CMO will revolutionize the way you do business and engage with customers.
2. Receive Expert Advice and Guidance
Think of a Fractional CMO as a marketing expert and teacher all rolled into one. These experts provide you with invaluable intelligence about topics like marketing segmentation, product positioning and conversion analysis. Consequently, you can outrank your competitors in your niche and position yourself as a market leader.
Typically, a Fractional CMO will audit your current strategies and provide you with guidance on how to optimize your marketing. Then, one of these professionals will suggest new ways to automate workflows and streamline your marketing campaigns. The CMO will likely incorporate a mixture of SEO, social media, email automation, pay-per-click advertising and content marketing into your marketing strategy.
A Fractional CMO will also work with other departments in your organization to maximize your marketing results. Seventy percent of top-tier companies have a strong CIO-CMO relationship, for example, compared with 45 percent for non-top performers.
3. Increase Business Growth and Save Money
A Fractional CMO will grow your business. Whether you want to target a new demographic, increase your presence online or generate new customers, one of these professionals will provide you with a solution.
“S/he brings a market-based perspective to crystallize the business strategy and manage the implementation of growth,” says marketing expert Kent Huffman, speaking to Forbes magazine. “However, unlike full-time employees, the outsourced CMO works part-time and often commutes from a different location or state for key meetings.”
If you hire a Fractional CMO, you will save you money, too. A full-time ‘regular’ CMO makes, on average, $160,000 a year. Hiring one of these professionals, therefore, is an expense many small and medium businesses can’t afford. A Fractional CMO, on the other hand, will only charge you for the services you require. You might decide to hire one of these experts for a few weeks — before you launch a new product or service, for example — or at short intervals throughout the year.
Hiring a Fractional CMO provides you with the flexibility you need. You can save cash, grow your business, increase sales and receive expert guidance and advice. If you want to maximize your marketing potential, enlisting the services of one of these professionals makes financial sense.
To schedule a complimentary consultation to learn if a Fractional CMO is a fit for you, please contact us.