What are the benefits to your business of a Fractional CMO?

28/07/2020
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Whether you are a small business, a startup or a scale up, you understand more than most that it is the customer that is the key determinant of your success. Many large organisations fail and many many businesses do not succeed because they lose sight of the importance of marketing leadership.

Peter Drucker, one of the world's best selling authors said "because the purpose of business is to create a customer, the business enterprise has two - and only two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."

This is the knowledge inside the business about marketing strategy, marketing activities and working with clients. Apple is successful because Steve Jobs had an outstanding appreciation and deep insight into the consumer's mind and their behaviour. He was their marketing expert. Jobs had many titles but he was effectively the Chief Marketing Officer CMO of Apple and made sure the management team were focused very much on the customer.

What do companies do when they lack someone with that deep insight and knowledge or when the business has grown so much that the business owner has reduced capacity to provide that same level of leadership and management?

Traditionally, they may hire a marketing executive or a marketing manager. Maybe they even approach a marketing consultant. Startups usually add online marketers and quickly focus on content marketing.

However, many begin to think it is time to hire an experienced business leader who understands marketing - not only the tactics but the strategy to develop the business, to gain and retain more customers.

With a permanent hire, there are associated overheads. Not just the salary but the benefits,  hardware, and before COVID-19 probably office space of some sorts.

All those additional costs before one iota of increased revenue or improved effectiveness. And then there are the one-off costs associated with the hiring if it is managed with a headhunter or recruitment firm.

Also do you really need another people manager in the business? Most businesses have a lot of people who do that very well.

As you have recognised, permanent marketing directors and CMOs end up spending a lot of time managing people instead of thinking about how to increase customer acquisition.

A new way of thinking about it

No business can afford part time marketing but they can afford a part-time marketing director or an interim marketing director or a part time CMO or an interim CMO.

Businesses have relied on advice and wisdom from non executive directors for years so a fractional Chief Marketing Officer is actually something very obvious.

How do you find the best Fractional CMO for your needs?

In our experience, the ideal Fractional CMO is someone who has reached a point in their career where it is the business challenge that inspires them.

They are motivated by interesting projects. When they come to your business they’re not coming with ego and an agenda to compete within the business. They are there to help you succeed against your competitors.

To win more customers!

At gigCMO, we seek out the best and the brightest individuals to join our team of fractional CMOs. We look for the same things that you would in a permanent hire. Trust and integrity are of course critical.

Most importantly, we only select those individuals with the breadth and depth of marketing skills and experiences that can lead and contribute to the project. They will make a difference in the first conversation.

As important, we have all come up through the marketing and sales side of the business. We are not an agency - advertising or recruitment.

We have all worked in business just like yours. Our founder and CEO is a former Chief Marketing Officer who has worked across industries and countries.

We understand marketing - the strategy and the tactics. We understand the role marketing technology (martech) plays in the business. We bring a very valuable outside perspective. We understand that special feeling when you are winning in the marketplace.

You need marketing brainpower and gigCMO has it. 

To read more about marketing strategy click here