Small and medium sized businesses need strategic leadership, planning and organizational experience to maintain growth - but may not be able to afford C-suite executives.  They're potential customers - Industry and non-profit organizations; all of whom carry experienced C-suite execs; should be engeged with similar levels of expertise, if a business wants to be successful.

To address this, many organizations are turning to the use of fractional C-Suite executives to scale-up capabilities. Drivers include:

• The need to capitalize-on or sustain rapid growth
• Organisational plateauing at $5M, $10M, $50M, 100M or even $1Bn because the business....
• Encounters financial and operational challenges, or need to ensure success with a major strategic initiative

The fractional CxO route presents a more cost-effective way of onboarding expertise versus hiring full time C-level leaders.

What are the potential benefits of hiring a Fractional CMO?

Many businesses may have built their success leveraging their reputation and network, but now need to expand beyond their know, and well-mapped sales channels.  They now need to develop a strategic marketing plan to expand reach and manage the customer journey from awareness through sales engagement and conversion - Then taking it further, converting newly-won customers to  advocates.

So what should you expect from a Fractional CMO in terms or outcome? Here’s an example of a public mid-sized technology company who were achieving just over $100m of annual revenue. Their CEO realized marketing was not helping drive the level of awareness and engagement needed and other international competitors were out-marketing them. 

The Results:

• 100% Revenue growth over three years to $200m+
• 30% Reduction in marketing systems costs
• 60% Reduction in cost per-page collateral development
• 300% Increase in visibility and engagement in the first 12 months including marketing support for expansion in four new countries 
• 90% Increase in overall product and services coverage for collateral, case studies and white-papers

The Fractional CMO Actions

• Evolved the existing marketing organization of 6 (one new hire) 
• Provided a clear organizational direction, purpose, strategy, vision
• An annual plan to budget, with clear objectives and goals

Agencies were used selectively: 

• Day-to-day support e.g. collateral production, social content and PR 
• Strategic or project purposes, digital marketing systems, brand, web and overall creative

In addition, relationships were re-established with key industry analysts ensuring equal or better ‘billing’ with their competitors and in many cases differentiated positioning to continue their success. Other responsibilities included being spokesperson with investors and the market for the company and participation at the Board level.

We will leave the last word to the CEO of the company - “We have achieved amazing things during and following the pandemic and you (fractional CMO) have been a pivotal part of that achievement.”