? + How To Hire One
(CMO) is the chief of an organization or company. A CMO typically reports directly to a Chief Executive Officer (CEO) and works closely with the sales and product development departments. The CMO’s key responsibility lies in developing and executing global , overseeing all corporate communications and , and research.
A is a who works part-time for several different businesses, often with an assistant or other support. With the advent of new technologies and staffing models such as outsourcing and freelancing, hiring fractional CMOs has become more common than before.
In this piece, we discuss the role of a fractional CMO and the benefits a B2B SaaS company can expect.
What are the responsibilities of a CMO?
A CMO takes up a host of responsibilities to fulfill various needs of a company. To put it simply, the CMO leads every step of the process to achieve for the company. Some days the CMO will take the role of a business leader to guide the . On other days, the CMO will actively develop a comprehensive to plan for a launch.
Here are some of the typical responsibilities of a CMO:
1. Account-Based
The traditional process involves visiting businesses in the vicinity to promote the company brand. However, this is no longer applicable in today’s digital world. Now it is possible to reach more targeted customers by spending less on . This approach is called Account-Based (ABM). The CMO will manage and implement ABM to reach out to the right potential customers.
ABM is an outcome of the convergence of account-based sales and . ABM allows you to streamline your pipeline management to focus on the best prospects that show the highest intent. With the help of ABM software, you can quickly identify companies visiting your website and focus on the ones that offer the highest engagement.
It focuses on growing by building relationships with accounts at scale, using a data-driven methodology within Sales and teams.
2. Performance
Performance promotes company products through various media channels like paid search or paid social for user acquisition. Every company will implement performance at some point since it helps increase high-intent quality web traffic, enabling you to connect with more potential customers. The CMO will provide expert by working with their agency to support their performance to meet their MQL targets.
3. Competitive Analysis
The competitive analysis compares its products with its competitors to find out their position in the market. The primary purpose behind this exercise is to generate new product ideas based on competitor research. The CMO will have to curate data gathered from various sources like the company’s industry reports, and present them in an organized way to be used by other departments for future reference.
4. Brand Management
Every business wants its customers to associate its products with quality service and ultimate customer satisfaction. This is why companies spend millions of dollars on brand management every year since it has a significant impact on the company’s overall . Many companies are indeed there who offer brand-building services but hiring dedicated personnel for this task might not be affordable for small businesses. In such cases, outsourcing Brand Management services is another option. A Fractional CMO would also take up Brand Management responsibilities and their other duties.
5. Inbound
Inbound is the process of writing high-quality educational content that helps users find answers to their questions. Inbound aims to educate potential customers on potential solutions and hint at services and solutions that your company may offer.
In the case of a B2B SaaS, inbound could be used to help generate leads for the or drive traffic to the website. Since inbound is associated with content creation, the CMO would manage this by working closely with and copywriters.
6. Oversee and Lead
CMOs often have to manage a consisting of , copywriters, and content creators. The CMO will be responsible for hiring experienced personnel for this job and organizing the workflow to run smoothly, encompassing all departments. When you hire a Fractional CMO, they will take care of these responsibilities.
Every has to oversee activity within the department. It includes controlling the latest , ensuring that reports are generated on time, and correctly organized data for future use. The CMO will supervise these operations to ensure they are carried out efficiently. This will help improve business processes and organizational effectiveness, translating to more MRR with less top-bottom management of initiatives.
7. Build Reporting Standards
The CMO will be responsible for establishing reporting standards that would measure the performance of campaigns in an efficient way. The reports generated by the need to be helpful for the and other departments like finance, technology. If you hire a Fractional CMO, they can help determine what KPIs to include in your visual Dashboard.
8. Budgets
The CMO is responsible for creating a for the company since it will help determine which mediums to use to reach out to customers and the amount of money that needs to be allocated for each activity. budgets can be created in different ways, such as new , lead generation, and growing website traffic. The Fractional CMO will also make these budgets and other duties like hiring personnel and managing team workflow.
9. Grow Sales
The chief goal of any company is to generate . The CMO will be responsible for using tactics and resources to target potential customers and increase the overall sales volume. Hiring an would help you accomplish this task since they would take care of all aspects related to that could increase the .
10. Build Your Brand
campaigns are not always about attracting new customers; some build brand loyalty through engaging content. The CMO is responsible for managing these campaigns, establishing reporting standards, hiring personnel, and creating budgets for future use. When you hire a Fractional CMO, they are also responsible for these duties.
11. Increase Traffic to the Website
The Fractional CMO will be responsible for using a wide range of strategies to bring more traffic to your website and engage more customers. Using SEO, content , , and other activities can help improve the traffic that would result in increased sales volume.
12. Improve Return on Investment
ROI can be improved by analyzing data from different categories. This means that the CMO would work closely with other departments to ensure efforts provide visible results.
Hiring a fractional CMO is particularly beneficial for improving your company’s ROI. For example, if you choose to hire a full-time CMO, you will increase your monthly fixed cost. On the other hand, a fractional CMO can bring in the same results at a lower price where you only pay for the required services.
Along with this, a fractional CMO will also help increase by using innovative techniques and strategizing for product launch.
When Should You Hire A Fractional CMO?
Deciding when to hire a fractional CMO is a critical business decision. Let’s look at some of the factors that you should consider while making this decision:
Lack of
If your current CMO is leaving for another opportunity, you should consider hiring a Fractional CMO to cover the transition period. You can also hire a Fractional CMO if no in-house is exclusively assigned to this role since it enables the company to have a centralized .
The part-time CMO is responsible for taking initiatives and leading the existing to increase and introduce new products to customers. This means that if your company wants to focus more on core products, you should consider hiring a Fractional CMO for their services.
Poor
If your company’s is not working, you should consider hiring a Fractional CMO as a . When you hire a Fractional CMO, they will provide you with tips on improving strategies so that they can generate better results.
For example, you might be advertising your SaaS product using Google Ads even though most of your users are active on LinkedIn. A fractional CMO can identify this gap to ensure that your maximizes the .
Need for Flexibility
A Fractional CMO can adapt to changing market conditions. They can adjust their plans according to the latest trends and develop effective strategies. For instance, if you want to expand into a new region, you can hire a Fractional CMO to ensure that your strategies are aligned with the local culture.
Budget Constraints
A Fractional CMO is flexible enough to handle changes in the market. They can adapt quickly to changing trends and offer suggestions on improving the . If your company has limited funds, then it is advisable to hire a Fractional CMO instead of a full-time employee.
Lack of Experience
When you hire a Fractional CMO, they will provide services immediately. You don’t have to wait for the new hires to gain experience in your company since hiring a Fractional CMO means that you get extensive .
For example, if you want to launch a new product, you should get a fractional CMO who has previously worked on similar launches. This way, you can immediately get value from their past experience. As you are not hiring a full-time employee, you can release the CMO of their duties when the product is launched.
Benefits of Hiring A Fractional CMO for B2B Saas Company
The Fractional CMO will be responsible for carrying out the company’s and strengthening your brand. Apart from the fact that hiring a Fractional CMO is cost-effective, it also allows B2B SaaS companies to focus on core activities like software development hiring and take more risks in their business by building new product features to differentiate themselves in the marketplace.
Let’s look at some of the benefits that can be expected by hiring a fractional CMO:
1. Customized Services
A fractional CMO can provide different services such as content , , SEO, or email , which can benefit your business. They will use the tools and strategies required to meet individual spending needs.
For example, let’s say you need to run B2B campaigns before launching a new product. You might need a CMO to manage your in-house for a short period. In such a situation, a fractional CMO can provide you with better services instead of a full-time .
2. Price Determination
You can determine the hourly rate of a Fractional CMO based on their skills and experience. They will offer an estimate to provide you with certain benefits before beginning their work.
3. Assessment
A fractional CMO will work as a and carry out a audit to provide you with an in-depth understanding of your customer base. They will determine the current market conditions and business trends that can influence the demand for your product or service before you launch it.
4. New Ways to Expand Market Presence
Fractional CMOs can generate innovative ideas that help them market your products in new markets. This means that they can improve sales figures by varying strategies.
5. Improve Campaigns
The fractional CMO has years of experience improving campaigns related to , email , , web design, and content writing. The fractional CMO is also responsible for developing thought and conducting market research.
6. Cost-Efficient Services
Fractional CMOs can provide cost-efficient services. They can work long hours and finish their designated tasks on time so that they can reduce expenses. Based on your requirements, you can hire a fractional CMO for weekly or monthly projects. This is particularly valuable for a small B2B company that cannot afford a full-time cost of a CMO.
7. Curated Brand Image
The fractional CMO will be responsible for curating your brand image. They know how to create a positive brand image backed by strong messaging, compelling content, and effective strategies. The SaaS Company can utilize the campaigns created by the fractional CMO to improve its market presence exponentially.
8. Utilizing Resources Efficiently
A fractional CMO has greater efficiency levels than full-time employees since they are provided with fewer resources. The fractional CMO has more time to focus on developing strategies and avoid wasting time on redundant tasks like company events.
Top 7 Questions to Ask Before You Hire A Fractional CMO
Just run a simple Google search, and you will see hundreds of options for hiring a fractional CMO. It can be challenging to find the right fit for your company in such a situation.
Let’s look at some of the questions that you should ask before choosing the right CMO for your company:
1. Does the Fractional CMO have the you need?
While choosing a fractional CMO, you want to ensure that the candidate has relevant experience to suit your needs. You can ask questions about their past work experiences and how they will benefit your company. The candidate should also be familiar with the latest technologies used by to ensure that they are up-to-date with their skillset.
2. What is the pricing structure of the Fractional CMO?
You need to discuss cost structures before you hire a fractional CMO. You can choose a price range that aligns with your budget to don’t have to worry about spending more than what is required. Discuss monthly or hourly rates before selecting the right fit for your company.
3. What results will the Fractional CMO be able to deliver?
It would be best if you asked for references from previous clients or checked case studies to assess candidate potential based on past results. This allows you to choose the best candidate after considering their past results before choosing a fractional CMO for your company. In addition, you should also ask about their strategic marketing plan and how they will be able to add value to your SaaS business model.
4. Does the Fractional CMO have testimonials from previous clients?
It is recommended that you choose a fractional CMO after checking their references. Client testimonials are a great way of ensuring that the CMO for hire will deliver the promised results. This allows you to make an informed decision based on other people’s experiences before choosing the right person for your company. It would help if you never rushed into hiring a fractional CMO without verifying their past results.
5. What skills can the Fractional CMO bring to your company?
Different strategies are used for different types of businesses. Professionals with in various fields can help you grow exponentially by using their knowledge and . Find a candidate with a strong arsenal with chops within a specific domain and know how to hire for their weaknesses to create a with deep .
For example, if you wish to execute a , you should find a CMO with an excellent understanding of digital media platforms.
6. What value will the Fractional CMO add to your SaaS company?
While evaluating the services of different CMOs, you need to understand how they can help improve your company’s by offering their skillset. You should look beyond just past work references and ask about the plans for future strategies to be clear on how they can benefit your SaaS business model.
The right fractional CMO has the required . They also have relevant experience delivering results to different businesses by using their knowledge base. The pricing structures are designed based on cost efficiencies to receive maximum ROI without spending too much money on personnel.
7. Is the Fractional CMO capable of leading and self-managing?
You should hire a who can work independently and lead a team based on your company’s . The fractional CMO should have strong qualities and manage a team by encouraging them to perform better.
For example, suppose you require the fractional CMO for B2B SaaS to generate results within a short timeframe. In that case, they need to have strong self-management skills to rapidly implement online campaigns without waiting for other departments’ approvals.
In addition, the should also possess strong managerial traits to handle tasks related to hiring freelancers or setting up teams with full-time employees. This allows you to outsource various functions according to your convenience.
Hiring a fractional CMO is the best way to keep your company’s tasks on track. It allows you to get quality services as and when the need arises. This is particularly useful for SaaS companies that have various . A seasoned CMO will help develop and implement strategies such that your business accelerates and maximize .
If you’ve had experiences with Fractional CMOs and would like to leave a comment, please drop us a line below. Please send us a message if you’re interested in Fractional CMO services.
