A Fractional Chief Marketing Officer (CMO) is an economically attractive way of upgrading your company’s marketing strategy and execution. The principal goal is to optimize the return on your marketing investment. Engagement models for Fractional CMOs vary greatly. In essence, they serve as interim executives, part-time marketing leaders or on a project basis.
Some typical activities for a Fractional CMO might include:
A Fractional CMO delivers marketing advocacy – both to your leadership team and to all of your external constituents. They frame an effective and efficient marketing program designed to drive revenue. The economics of fractional marketing enable world-class strategy, at a fraction of the cost of hiring.
Most Fractional CMOs are retained when a company reaches a significant milestone or a market-driven event that calls existing marketing strategy into question.
These milestones might include:
Nearly all of the projects we have been involved with over the past 25 years have included one or more of these milestones, as companies seek to redefine their marketing strategy and programs, and adapt to their changing world.
Like any key contributor to your business, your potential Fractional CMO needs to be a “fit” for your current situation, yet have the “headroom” to take you to the next level:
These are, of course, just a few of the considerations you would normally look for in a permanent hire but, in our experience, are the most critical to making a fractional relationship work.
The cost of a Fractional CMO varies greatly based on the business model of the individual or agency involved, and on the size of your company and engagement model. The starting point for estimating fees is the equivalent cost of a full-time hire. Baseline annual salary for a seasoned CMO is north of $200,000 excluding benefits.
What you end up paying depends on:
At Metrique, we favor a project-based model and tie our compensation to the accomplishment of specific milestones. Others favor time-based payments. We strongly believe this places the emphasis on getting things done. It also eliminates the concern that programs become drawn out, simply to maintain the Fractional CMO’s compensation.
In addition to the core marketing competencies we deliver, Metrique has extensive expertise in a number of areas:
Our engagement process beings with a rigorous analysis phase to understand your company, products, customers, markets, competition and overall strategy.
The first step is a brief (<30 minute) information exchange to develop baseline objectives for your project.
We’d welcome the opportunity to gain a better understanding of your current situation and your mid-term ambitions.
We’d be happy to execute a non-disclosure agreement (NDA) to facilitate the open sharing of information.
Please free to call us at +1 425.378.0524 or complete our contact form.