Are you looking for the launch of your new product in today’s competitive market? Do you have plans to merge with any other business? Are you looking for rebranding for fitting the new deal? Regardless of your business objectives, your company needs a person with specific marketing skills set in case of marketing and with a knack to get almost everything done efficiently.
However, hiring a full-time employee in this case forces a company to bear a huge expense related to selection, recruitment, training and similar others. Thus, to get the job done without any hassle and by saving money, companies should choose to hire fractional CMO i.e. fractional Chief Marketing Officer to deal with their regular marketing tasks. Only, company has to analyze the role of a chief marketing officer before it should step ahead to find the one according to the specific requirements.
Why Fractional Chief Marketing Officer is Essential
A fractional chief marketing officer is an expert spending a part of his/her time to provide consultation for your company. Whenever you do not get enough time build your own business, an outsource CMO dedicates some time to provide consultation services for other companies. Fractional chief marketing officers have specialized skills to benefit a company largely. On the other side, companies have to pay these marketing experts on hourly or part-time basis. Fractional marketing officers thus provide executive leadership to come up with innovative marketing strategies directed towards profit and long-term success of the company.
Types of Outsourced/Fractional Chief Marketing Officer
Until now, companies and business units have availed marketing solutions from three major types of fractional chief marketing officers. These include the following-
- Interim/Provisional Chief Marketing Officer
An interim or provisional Chief Marketing Officer performs his/her functions as a bridge for a specific period, up to which the company gets any permanent replacement of any former full-time marketing executive. CMO in this case assists in daily operations and with the interview process related to any replacement. Logic behind this is that interim CMO has relatively higher specialized knowledge as compared to regular marketing and other company’s department.
- Advisory/Coaching Chief Marketing Officer
Advisory or coaching Chief Marketing Officer trains the existing marketing employees of a company. He/she teaches to hone the necessary skills, which include strategical thinking and its implementation in a productive way.
- Turnaround/Revitalization Chief Marketing Officer
Turnaround or revitalization Chief Marketing Officer is responsible to help any company or a business organization to turn various things around whenever the company’s own marketing team fails to perform well. For this, the expert mixes few of the projects, tweak others to bring overall effectiveness and create innovative strategies to create a business in a better way.
Duties Performed by Chief Marketing Officers
Based on broad classification, a fractional CMO performs his/her functions in the following categories-
- The market
- The product
- The product marketing
- The company
- The execution pipelines
Any fractional chief marketing officer does wide range of duties depending solely on the specific requirements of a company. For most of the parts, the job of an outsource CMO entails providing the necessary marketing insights, formulate strategies and executive the created strategies to enhance profits. Other than this, any part-time chief marketing officer takes steps to create brand awareness in a better way.
Therefore, depending on the present marketing requirements of your company, you should never hesitate hiring a qualified and experienced fractional chief marketing officer to accomplish the regular marketing tasks of your business.
