Pros and Cons of a Fractional CMO
Fractional chief marketing officers (CMO) work for several companies instead of dedicating themselves to full-time positions within a specific business. Many tech startups find that choosing fractional CMOs helps them save money while effectively growing their businesses and setting up companies for future success.
As with any decision, though, there are pros and cons to consider. The following list of potential benefits and disadvantages should make it easier for you to determine whether you want to take a closer look at hiring a fractional CMO instead of giving the position to a full-time CMO.
Pro: You Get a Professional With Experience Working With a Broad Range of Companies
Since fractional CMOs have opportunities to work with several businesses simultaneously, many of them can give you insights into what type of marketing strategy will likely work well for your company.
A full-time CMO who has worked exclusively within tech marketing campaigns probably doesn’t have as much experience with other industries. That’s not necessarily a bad thing, but it can lead to some limitations. A fractional CMO might serve your needs better by connecting with contacts in other industries (creating more opportunities for partnerships) and including marketing strategies learned from working with a broader range of companies.
A fractional CMO’s approach might seem unconventional at first. It’s a best practice to let them do their jobs with as few restrictions as possible. After all, you hire them for their expertise. Let them take some calculated risks and see how much it improves your reach.
Con: You Do Not Get a Fractional CMO’s Full Attention
Fractional CFOs tend to work for several companies at once. That’s not great for startup marketing that requires full-time oversight.
If you want a full-time CMO to develop and manage campaigns 50 to 70 hours per week, don’t choose a fractional CMO. You will not get the level of attention that you need. This is one of the most significant differences between full-time and fractional CMOs. Make sure you understand how many hours a fractional CMO can give you before you hire them.
Pro: Fractional CMOs Can Create Effective Marketing Strategies at Lower Costs Than Full-Time CMOs
You won’t get a fractional CMO’s full-time attention… but that’s one of the reasons that so many tech startups choose them.
A full-time CMO will expect compensation that includes an annual salary, health insurance, and other benefits. The costs add up quickly.
Tech startups need ways to market their products and services without going over their budgets. For many companies, fractional CMOs offer the perfect solution. The startups get an experienced marketing executive without paying for a full-time CMO’s compensation package.
Con: Fractional CMOs Will Eventually Leave Your Company for Other Projects
Don’t plan to keep your fractional CMO for very long. Your typical CMO takes about 9 months to set up and start your marketing plan. Of course, the precise amount of time can vary significantly. Some projects need more than a year of a CMO’s attention. That’s an outlier, though, so you would want to talk to CMO candidates about whether they can devote that much time to the campaign.
No matter how long you keep your fractional CMO, the person will soon leave to work on other projects. Many people who choose this line of work enjoy the opportunity to work with diverse businesses, so they do not want to take full-time positions.
Pro: Fractional CMOs Know How to Create and Implement Strategies Quickly
Fractional CMOs have so much experience developing and implementing tech marketing strategies that they can usually finish projects quickly. That’s particularly appealing to tech startups that need to move fast before someone fills their niche.
If you want to grow your business as quickly as possible, it makes sense to choose a fractional CMO with experience developing marketing plans, onboarding marketing team members, and setting up marketing strategies for long-term success.
Con: Your Team Might Get Attached to the Fractional CMO
If you have a marketing team in place, they might get attached to your fractional CMO’s management style and ideas. That’s a dangerous situation since you know that the CMO will leave the organization soon. Some members of your team might feel lost when they lose their manager.
Pro: A Fractional CMO Can Help You Find a Full-Time Replacement
The good news is that fractional CMOs fully understand the transitional nature of their positions. They know that you might want to replace them with a full-time CMO. In fact, they will probably help you look for a full-time replacement with the right skills to continue creating and managing everything from B2B marketing campaigns to content marketing strategies.
Get Started With Arch Collective!
Tech startups and other small businesses often find that fractional CMOs help them reach their goals. Since there are pros and cons to hiring a fractional CMO, reach out to Arch Collective to learn more about how a fractional tech marketing executive can meet your needs.
