In today’s complex and competitive business landscape, an experienced marketing leader can be invaluable for guiding strategy and driving growth. However, not every company needs or can afford a full-time Chief Marketing Officer (CMO). This is where a fractional CMO can be the perfect solution.

A fractional Chief Marketing Officer is an experienced marketing executive who works for your company on a part-time, project, or contractual basis. They provide strategic guidance and leadership just like a full-time CMO but with more flexibility and often at a lower cost.

The time commitment of a fractional CMO can vary greatly depending on your needs – from a few hours per week or month to multiple days per week. Some even work on an on-call basis. This allows you to scale their involvement and cost up or down as required.

There are many advantages to hiring a fractional chief marketing officer over bringing on a full-timer or relying solely on in-house resources:

• Significant cost savings compared to a salaried executive. You only pay for the time you need.
• On-demand expertise across a variety of marketing areas from digital to branding and beyond. Fractional CMOs have seen it all.
• An objective, outside perspective on your marketing efforts and business as a whole.
• Flexibility to adapt their focus as priorities shift.
• No need to provide benefits like health insurance or equity.

For small to mid-sized companies, these benefits often make the fractional model much more accessible and better aligned to immediate business needs.

Here are some of the top situations where onboarding fractional marketing leadership can pay major dividends:

Starting a Marketing Function From Scratch

If your early-stage startup lacks any real marketing initiatives so far, an experienced fractional CMO can kickstart this function through data-driven planning and execution of foundational programs.

Rebooting Your Marketing

Has your current marketing failed to deliver the desired results? A fractional CMO can objectively evaluate existing strategies and overhaul processes to reinvigorate your brand and funnel.

Filling a Leadership Void

Whether due to expansion or turnover, a vacancy in your marketing leadership takes a toll. A fractional CMO sustains momentum as you search for a full-time executive.

Adding Specialized Expertise

From SEM and SEO to lifecycle campaign creation, leverage niche fractional talent to double down on what moves the needle most.

Gaining an Objective Audit

An unbiased audit of marketing performance, competitive positioning, and brand sentiment from a leading fractional CMO provides an objective baseline for improvement.

Supplementing Marketing Bandwidth

As needs grow but budgets and headcount do not, fractional senior talent fills gaps in staffing and experience to drive results.

Preparing for a Liquidity Event

Maximize valuation through expanded reach and professional positioning led by a fractional CMO with experience preparing brands for exit.

So where exactly should you look for a fractional marketing executive suitable to your needs? Here are five sources to target:

Fractional CMO Firms

In recent years, fractional CMO firms and networks have emerged to connect top marketing talent with companies seeking their specialized capabilities. These firms handle recruiting, screening, salary negotiation, and more – saving you time while matching your needs to marketing leaders with proven track records. Some prominent examples include CMOx, Chief Outsiders, and Mosaic.

Freelance Platforms

Popular freelance sites like Fiverr, Upwork, and FlexJobs also list talented fractional CMOs available for project or ongoing remote work. You can post your specific needs and review profiles, qualifications, client reviews, and more as you evaluate candidates. Just be sure to verify that the capabilities match the role.

Marketing Consultancies

If seeking additional strategic perspective paired with execution support, exploring larger marketing consultancies can expose you to credentialed practitioners. They frequently provide fractional CMO services alongside other offerings.

Your Network

Don’t underestimate asking around your personal and professional networks. You may discover a talented marketing leader open to taking on a fractional role. A referral through someone you know and trust is often the best source.

LinkedIn

And finally, LinkedIn’s expansive database of profiles allows you to use keywords, expertise tags, experience filters, groups, and other tools to discover great potential fractional CMOs open to contract engagements. The right strategically messaged InMail can capture serious interest.

Once you source a number of qualified fractional chief marketing officer prospects, how do you ultimately determine who is the best fit? Follow these steps for assessing and selecting the right fractional CMO:

Define Must-Have Experience & Skills

Consider your core needs. What marketing areas require strategy and management the most? SEO? Brand positioning? Campaign creation? Define must-haves so these are fully addressed.

Screen Overall Background & Capabilities

Thoroughly review background qualifications beyond a glance at their LinkedIn profile. What size companies, industries, budgets have they led marketing for in the past? How do their capabilities align with the scope at hand? Take time to screen here thoroughly.

Interview and Vet Cultural Fit

A crucial yet often overlooked step, especially with fractional hires, is assessing culture fit and work preferences. Consider compatibility with your style, values, and preferred communication methods. Ask lots of questions and trust your intuition here.

Request References & Examples of Past Work

Requiring submissions of past work samples and reference conversations helps verify the quality of previous outputs and what clients have to say about their experience partnering together. Don’t skip this prudent step.

Define the Ideal Contractual Agreement

Ensure you and your preferred fractional CMO identify typical hours required weekly or monthly, length of contract, key objectives, fee structure, etc. Constraining scope and spelling out terms early allows for optimal working relationship.

By taking the time to methodically vet and select the right fractional marketing leader for your organization using the approach above, you will set the stage for a productive and successful engagement that amplifies your marketing performance.

Once secured, how do you ensure your investment in fractional executive leadership pays dividends through a harmonious and results-driven relationship? Below are five tips:

Align Early Around Values and Culture

Initially, alignment purely around marketing objectives sounds logical. But take time early on also to discuss working styles, communication preferences, pet peeves, boundaries, and other culture-focused topics. Addressing the “how” you will partner together speeds ability to achieve the “what”.

Define & Communicate Decision Rights

Uncertainty around authority frequently hinders fractional engagements. Be explicit early about decision-making powers related to budget, hiring, organizational structure, etc. Constraints are reassuring for an organization unfamiliar with injecting fractional support at such a high level.

Schedule Regular Check-Ins

While you certainly can connect on an ad hoc basis in a fractional model, don’t underestimate the alignment and productivity power of regular standing meetings or calls to discuss priorities, issues, and wins. This ensures sustained momentum.

Provide Necessary Resources

Nothing slows marketing momentum like a lack of access to required software, data, or tools needed to execute demanding strategy and analytical work for an organization. Avoid frustrations by proactively preparing these technical needs.

Solicit Direct Feedback

A fractional leader with experience across many engagements has seen what works and what doesn’t. Occasionally ask for suggestions on what’s missing or could be improved related to skill sets, information access, technical capabilities, or stakeholder participation to drive impact.

Hiring an innovative fractional marketing leader allows you to inject strategic experience cost-efficiently sized precisely to your immediate demands. But like any executive, aligning around culture, defining decision authority, maintaining open communication, and providing adequate enablement ensures this model lives up to its high potential.

If your company needs a SaaS fractional CMO, consider working with Peter Geisheker. Peter has been providing Fractional CMO services for over 20 years and has expertise in growth tactics and conversion optimization. View Peter’s Fractional CMO case studies.