Marketing is an essential aspect of any business, but not all companies have the resources to hire a full-time Chief Marketing Officer (CMO). Thankfully, there is still a solution for these companies: a fractional CMO.
A fractional CMO is a part-time marketing executive who can provide expert strategy and leadership to businesses that don't require a full-time CMO. In this article, we will walk you through the responsibilities of a fractional CMO, their role in a business, and why your company could benefit from hiring one.
A fractional CMO is a part-time, outsourced marketing executive. They provide all of the same strategic guidance and leadership as a full-time CMO, but on a contracted basis. This allows companies to leverage senior-level marketing expertise without the full-time salary and commitment.
Business trends are showing that many companies are reconsidering the CMO position and its responsibilities, leading to changes in the role's title and the hiring of fractional CMOs in consulting-style roles. Let’s take a look at a global corporation that recently made this change and how this major move is signaling a shift in how brands approach this role.
Starbucks, one of the biggest coffeehouse chains in the world, is leading the way with this significant shift in its marketing leadership. The company has recently eliminated the "global CMO" role and is searching for a "global brand creative leader" instead. The removal of the global CMO role suggests Starbucks might be leaning into regional fractional CMOs in the future. This approach could help them tailor their marketing strategies to specific regions while still having a strong central creative leader, which, of course, will still come with crucial responsibilities.
Below are the most important responsibilities of fractional CMOs.
We’ve covered the basics of what a fractional CMO is; now, we’re going to explore the reasons why your company may need fractional CMO services.
If a major player like Starbucks has gone the fractional CMO route, you may be asking yourself: “Do I need a fractional CMO for my company?”. We’ve compiled a list of reasons that your business may need fractional CMO services.
There are several considerable advantages to bringing on a fractional CMO for your company rather than employing a full-time one. Here are some of the key benefits:
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Fratzke Consulting's fractional CMO service provides a flexible option for businesses looking to improve their marketing efforts. Our expert fractional CMOs are powered by experience with leading brands and extensive industry knowledge. Each and every one of them has a proven track record of success in developing and implementing marketing strategies, managing teams, and optimizing campaigns.
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