April 9, 2024
Creative Counsel

How Hiring a Fractional CMO Can Help Your Business Right Now

Marketing’s a beast. Hiring is beastier. Recruiting C-suite execs is the beastiest. 

When it’s time to bring in the marketing big guns, there are two types of hires—a full-time in-house Chief Marketing Officer (CMO) or a fractional CMO. Deciding which one to bring on board depends on many factors including your company’s goals, growth stage, and budget. 

What’s a Fractional CMO?

A fractional CMO is a part-time executive. They are an outsourced person who can do everything an in-house CMO can do… at a fraction of the cost. For businesses that are moving fast, hiring a fractional CMO is a cost-effective way to get access to high-level strategic thinking without committing to a full-time salary.

Pros of Hiring a Fractional CMO

More Affordable 

Hiring a full-time CMO comes with a hefty price tag. Beyond the salary (which can easily run into six figures), you've got benefits, bonuses, and other compensation bits. With a fractional CMO, you're paying for specific expertise only when you need it, rather than a single person's time around the clock.

Businesses don't operate on a flat line. A full-time CMO's salary is a constant—but your marketing needs aren't. Because the role of a fractional CMO is meant to scale up or down in sync with your business rhythms, it’s a flexible expense, meaning you're not overspending during slower periods.

More Adaptable  

Fractional CMOs bring a lot of flexibility to your marketing strategy. Experienced fractional CMOs have likely been involved with many different industries, so they're more adept at quickly adjusting to market changes that in-house CMOs might miss. This experience also means greater exposure to unique solutions that have been tested and proven across different sectors. 

More Specialists

A fractional CMO usually works within a close network of other marketing experts. That means that when you hire a fractional CMO, you’re also hiring a lot more creative manpower—for free. This access reduces the lead time and overhead associated with recruiting and managing these specialists directly. 

Specialists who work in this capacity are also used to collaborating on high-impact projects, meaning they can easily integrate with your existing teams without much of a learning curve. 

When Should I Hire a Fractional CMO?

There are certain stages in a business’s evolution where hiring a fractional CMO makes sense. They are particularly beneficial during periods of transition, growth, or when you're looking to innovate your marketing strategies without the commitment and overhead of a full-time position.

It might be worth bringing a fractional CMO into the mix if you recognize any of the following situations:

1. Rapid Growth Phase

If your business is experiencing rapid growth, you'll need comprehensive marketing strategies to sustain and capitalize on the momentum. A fractional CMO can provide the strategic depth and breadth needed without the long-term commitment of a full-time exec.

2. Need for Specialized Expertise

When your marketing challenges require specialized knowledge or skills that your current team lacks, a fractional CMO can fill the gap. They’ll be able to leverage their expertise and network of specialists to help guide your existing team to execute major events like product launches, business pivots, or a new market entrance. 

3. Budget Constraints

For startups and SMBs, budget constraints often limit the ability to hire a full-time CMO. A fractional CMO delivers top-tier marketing leadership and results without the full-time expense.

4. Evaluating Marketing’s Role in Your Business

Sometimes, businesses need to reassess the effectiveness of their current marketing efforts. A fractional CMO can provide an unbiased, external perspective to help you recalibrate your marketing strategy and execution.

Can I Hire Swank Collective as My Fractional CMO?

Yes! But we prefer to call it a Fractional Marketing Department. Why? Because our Collective Model allows us to offer comprehensive, collaborative marketing solutions that go far beyond what any single CMO could offer.

Working with Swank on a fractional basis means you get instant access to an entire team's worth of expertise that’s tailored to your specific needs. From social media, content marketing, strategic planning, graphic design, and other suites of creative services, we have someone in our Collective who excels in that area. This model allows us to be agile and scale our involvement up or down based on your current challenges and opportunities.

So, yes. You can absolutely hire Swank Collective as your fractional CMO. But just know that what you're really getting is a fractional marketing department that’s committed to propelling your business forward. 

Don’t just take our word for it. Check out our client case studies. 

Fractional is the Way of the Future

The role of a fractional CMO is a blend of flexibility, expertise, and affordability, making it an ideal marketing solution for growth-focused companies. From providing adaptable marketing strategies to connecting you with a network of specialists, a fractional CMO can drive growth and save you from the commitment of a full-time executive. 

As you contemplate your next steps, remember that with Swank as your fractional partner, you're gaining an entire marketing department dedicated to your success.

Ready to make Swank a part of your team? Contact us today!

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