Get Your Content Engine Running Before Hiring A Fractional CMO
Have you considered hiring a fractional CMO because your small business can’t afford a full-time marketing executive? Fractional CMOs have become increasingly popular in recent years, and can provide many of the same benefits as a full-time CMO without a long-term commitment.
But before you pull the trigger, consider starting up your content engine. Hiring a content marketing agency will not only reserve some of your marketing budget, but also deliver a marketing strategy that’s backed by data and guaranteed to succeed.
- The fractional model emerged over 20 years ago once companies realized they could hire on-demand executives on a contracted basis
- A lack of trust between CEOs and CMOs, and a rise in popularity of the gig economy has caused a dramatic rise in popularity for hiring fractional CMOs
- About 60% of marketers create at least one piece of shareable content per day
- Hiring a content marketing agency ensures consistent content, use SEO-backed data, regular delivery of performance reports and a maximized budget
Not every SMB needs a fractional CMO. Here’s what you need to know about trending fractional CMOs and why a content marketing agency may be a better fit for your business.
What Is A Fractional CMO?
A fractional CMO is an on-demand, part-time chief marketing officer. Their expertise is outsourced to play the role of a full-time CMO, without any in-house commitment. They are responsible for mentoring the marketing team through specific tasks, such as:
- Defining a marketing strategy
- Driving traffic and sales growth
- Improving digital presence
- Managing content
- Reporting on marketing results
Many small to midsize businesses, or SMBs, can’t afford to hire a full-time CMO. Instead, they opt for a fractional hire to free up their marketing budget. In-house CMOs make approximately $211K/year, whereas fractional CMOs only make about $130K/year.
Fractional leadership isn’t a new concept. In fact, the fractional model was born over 20 years ago once companies realized they could utilize on-demand finance executives on a contracted basis.
In more recent years, research has shown a lack of trust between CEOs and CMOs, in addition to the rise in popularity of the gig economy. This explains the dramatic rise of traffic growth for fractional CMOs.
Source: Google Trends
A growing number of companies now list open positions for part-time, virtual or fractional executives. Additionally, premium talent marketplaces, like Toptal and Catalant, are supporting this trend by high-end remote talent easily accessible to companies.
Clearly, the trending fractional CMO market is seeing rapid growth. If you’re thinking about jumping on the bandwagon, it’s essential to first understand whether or not your business is the right fit.
Who Needs A Fractional CMO?
An in-house chief marketing officer holds more responsibility, whereas fractional CMOs only work with your business enough to offer honest feedback, guidance, and training.
Fractional CMOs are mostly beneficial when a company:
- Needs a CMO, but can’t afford full-time leadership
- Needs help running campaigns identified by an in-house CMO
- Doesn’t need full-time leadership due to a simple marketing strategy
To learn more about whether your business can benefit from hiring a fractional CMO, enjoy the short video below.
Video Source: CMOwashere
Although hiring a fractional CMO sounds like a financially responsible option, you may not need one at all. Other options, such as hiring a content marketing agency, can be more affordable and beneficial to your company.
Why Prioritize Content Creation Before Hiring A Fractional CMO?
Content creation is the epitome of marketing best practices. In fact, 60% of marketers create at least one piece of shareable content per day.
By prioritizing the creation of high quality content, you can drive traffic to your website, maximize engagement and increase customer retention– without adding another employee to the payroll.
Before hiring a fractional CMO, consider turning your budget into working dollars and spending it on content marketing. Doing so provides a number of benefits, such as brand awareness, educated audiences and increased credibility in your community.
Image Source: Visme
One of the most effective ways to master content marketing is by hiring an agency to help your business succeed. Not only do content marketing agencies create an effective strategy, but they also:
- Provide Consistent Content. Two of the most important factors in driving traffic to your website are frequency and consistency. Hiring a content marketing agency guarantees you can share high quality content consistently.
- Use SEO Data. Google’s algorithm is looking for content that both uses keywords and provides genuine value to human readers. Content marketing agencies have a team of SEO experts that help deliver content that meets the high standards of SERPs.
- Share Performance Reports. Measuring the effectiveness of your marketing efforts is key to growing your business. Content marketing agencies demonstrate their value by sharing performance reports that prove success.
- Help You Save Money. When you’re choosing between filling an in-house leadership position and hiring a content marketing agency, the latter is guaranteed to maximize your budget. Paying salaries and benefits required by in-house employees is much more costly than working with an agency’s team of content marketing experts.
By focusing your budget on content creation, you can answer the questions of your audience with high quality content. Doing so creates a valuable customer experience, ultimately encouraging both engagement and conversions.
Get Your Content Engine Running Today!
Before you hire a fraction CMO to define your marketing strategy, consider Marketing Insider Group. Our team is full of content strategists, professional writers and SEO experts who will build and execute a marketing strategy that delivers success.