There comes a time when you need to hire new people to be able to manage your business effectively.
And marketing as a key function in your business requires you to hire the right leader. Read on to discover 5 reasons why your company needs to hire a fractional CMO. Psst; hire iTonic for your Fractional CMO.
- If you are in the growth phase of your business lifecycle, it is right to assume you don’t have enough money to retain an internal CMO. Such money is better used to fund your business’s growth. This is where a fractional CMO comes in handy.
- It will be extremely difficult to juggle managing your business and leading your company’s marketing effort without one suffering from inadequate attention. Having a fractional CMO onboard helps you focus on the most important task which is managing your business.
- Reduces ramp-up time: Time is money in business. Fractional CMOs in most cases are experienced with the processes of your industry. This means you won’t have to wait for a while before he becomes productive at work as is usually the case when one hires an internal CMO.
- Flexibility: fractional CMOs give you flexibility in hiring. Sometimes your company may be to perform a short term project that requires the experienced inputs of a CMO, hiring an internal CMO will turn out to be time-wasting and overly expensive as you will have to prepare at least 1 year employment contract.
- If your company’s marketing team is full of newbies who are inexperienced in leading a team, it will be more effective for the company to hire a fractional CMO in the interim to anchor the marketing efforts and groom the marketing staff on what it takes to effectively lead a team.
- You’ll benefit from their years of experience: When you poach a CMO who already has experience working in your industry, your business is protected from unnecessary trial and errors. You won’t get this when you promote a newbie to this role internally.
- When it is super expensive and inefficient to work with agencies: The packages offered by marketing agencies may not be suitable for your business in some cases and yet you find yourself needing an experienced hand to manage your marketing. Fractional CMO comes handy in this case.
- When nothing seems to work: where your current CMO is finding it difficult to achieve the set goals and you need someone to salvage the position of the company. It is highly recommended that you give a fractional CMO a shot, their wide experience could be your company’s saving grace.
- You don’t have to pay bonuses: whenever an internal CMO achieves the marketing goal, they are usually awarded certain bonuses at the end of the year but with a fraction CMO, it’s a contractual arrangement and the CMO only earns the agreed remuneration in his contract no matter his results.
These are some of the top reasons why you may want to consider hiring the service of a fractional CMO for your company.