The Role of a Fractional CMO: How Can They Help Your Business Grow?
When it comes to marketing, businesses face many challenges, whether they need to find the proper individual to manage and upskill their marketing team or have a limited budget for employing a highly qualified full-time chief marketing expert.
Businesses that lack outstanding marketing leadership eventually lose sales and profitability. Poor strategy and execution can put your business at risk of being outpaced by competitors, failing to position yourself effectively in the market, or failing to connect with consumers.
If you believe you need professional marketing leadership but aren't ready for a full-time in-house resource, then you should consider fractional Chief Marketing Officers for help. Having experienced senior marketers onboard can give companies the critical leadership and execution that will result in effective marketing strategies guiding your company toward its long-term objectives.
What are fractional CMOs?
CMO stands for Chief Marketing Officer. Fractional CMOs are independent and experienced marketing professionals to whom you may outsource your entire marketing unit and strategy. These are professional marketing gurus that you can hire for the benefit of your business without the expense of hiring just one full-time member.
The term "fractional" relates to the fact that your organisation does not engage them as an in-house or full-time employee. Instead, they'll be professionals working with you for a fraction of their time. As a result, they are less than the cost of full-time pay and have numerous additional benefits.
What exactly is the role of gigCMO’s fractional CMO?
Normally, a fractional CMO oversees a company's marketing strategy and operations and ensures that the plan is profitable. With gigCMO, you’re not investing in a specific professional, you’re getting a full C-suite of professionals who are taking on a marketing leadership role and thinking for you. They will focus on developing a strategy that increases company revenue by increasing sales and conversions with your existing team or on their own.
Create an all-encompassing marketing plan
The marketing plan outlines the steps to promote your product or service offering and enhance client acquisition.
This involves key activities such as reviewing and evaluating:
- Brand positioning
- Customer demands
- Industry trends
- Opportunities for Public Relations
- Marketing techniques
Apart from acknowledging the infrastructure financing to make this successful, the plan focuses on the company's context to make it stand out—for example, unique value propositions and current customer pain points or objectives. A roadmap is constructed using the information to offer clarity on completing each milestone.
Develop innovative marketing campaigns
Our Fractional CMOs have extensive marketing experience in various industries. They may come up with fresh campaigns to help define the overall strategy. Each top idea becomes a deliverable for achieving the company's goals. Having this as a foundation also helps in distinguishing yourself from your competitors.
Here are a few examples:
- Content strategy
- Email marketing
- Rebranding
- Public Relations (PR)
- Social media networking
- Digital Marketing
The channels to choose from are many and dynamic, but the most vital aspect is that you are in the right places where your prospective clients may be found.
Build a customer acquisition strategy
Generally, sales objectives for acquiring new customers are determined each month. The first step is to guarantee that people are aware of your product or service offering.
A customer acquisition strategy allows you to generate interest and reach out to qualified audiences. It is generally focused on increasing the number of customers at the top of your sales funnel by increasing the following:
- Brand awareness
- Product knowledge
- Organic traffic
As a result, it helps businesses in the development of the lead-generation process.
Oversee the marketing strategy
Overseeing a company's marketing strategy includes responsibilities such as:
- Having measurable objectives
- Creating Key Performance Indicators (KPIs)
- Making well-informed decisions
- Budget allocation
- Identifying market opportunities
Forming a strategic partnership or expanding into a new market segment with strong demand but low competition are two examples of discovering a new opportunity. The effectiveness of your strategy can be measured by utilising marketing tools like Google Analytics, HubSpot, SEMrush, and Search Console.
Optimising the procedure
The core objective of process optimisation is to help company growth by enhancing efficiency and productivity.
A great strategy to complete time-consuming tasks is to leverage automation. Other areas that demand more of your focus may be addressed. You will be consulted at every stage of the procedure.
Strategic positioning of the business
Strategic positioning is related to the perceived value of the organisation. In other words, how you want your audience and consumers to picture you. A comprehensive marketing strategy includes understanding each of your selling points and matching them with the demands of your consumers.
Testing for Improvements
To increase revenue, you should first understand what works and what does not. You'll encounter new challenges to overcome at various phases of development. This is when theories and testing concepts come into play.
Our Fractional CMO services will be able to optimise the conversion rate of each marketing copy created since we have a solid grasp of the sales funnel and how to motivate consumers to take action.
Hiring the right Fractional CMO for your business
Choosing to hire a fractional CMO for your company is only the first step. Once you've determined that additional C-level support is required, even if only on a part-time or interim basis, you must make other important decisions, such as how to select the best fractional CMO for your company.
A fractional CMO service offers many benefits for internal teams looking to improve their marketing approach. With a fresh outlook and extensive industry knowledge, a fractional CMO can help turn goals into tangible wins, saving time and reducing financial risk.
gigCMO takes these benefits to the next level by providing a team of highly experienced fractional CMOs, using a proven playbook to support businesses. With the collective brainpower of multiple experts from various industries and geographies, our team can help your business innovate and increase revenue both locally and globally.
Our team's expertise, combined with a proven playbook, ensures successful marketing programs and fosters team alignment for execution and continuous improvement. As experienced marketing experts, we know how to maximise your marketing efforts and can transform long-term goals into a doable to-do list.
Contact gigCMO today to start to develop marketing strategies that deliver exponential ROI.
