7 tips for hiring a ‘fractional’/interim CMO
Hiring a fractional marketing leader or Chief Marketing Officer (CMO) can be a great option for early stage or scale-up businesses that need expert marketing guidance, but may not be ready - or have insufficient resources - to hire a full-time marketing leader. Here are some tips and insights that can help you successfully plan for, and hire, the right interim marketing leader for your organisation:
Clearly define your goals and objectives: Before your search for a fractional marketing leader, it’s best to have a clear understanding of your marketing goals and objectives. This will help you identify the specific skills and expertise you need from your marketing leader, as well as inform the metrics you will use to measure their success.
Look for experience and expertise: The ideal fit is usually someone who has knowledge and experience working in your industry sector. Equally candidates with a background working for companies similar in size to yours and with proven expertise in the specific areas where you need help are also worthy of consideration . For example, if you need help with go-to-market strategy and tactics, look for someone who has a proven track record of success in this area. Checking potential candidates’ LinkedIn profiles and viewing the recommendations they received there can be really helpful.
Industry Influence: Find out if the proposed candidate has useful industry contacts that you could potentially leverage to achieve certain goals faster. E.g. Recommended marketing suppliers/partners that will enable you achieve successful outcomes faster; Media contacts that could be helpful with outreach and creating awareness in your target market etc. These contacts can save you a lot of valuable time.
Set clear expectations: From the start, be specific about the scope of work, document key deliverables, and your desired timeline. We recommend you set regular check-ins and agree on communication channels to ensure that you are aligned and stay on track.
Consider cultural fit: While expertise and experience are important, be mindful of a potential candidate’s fit with your company culture. Look for someone who shares your values and has a similar work style to your team and there should be no friction.
Develop a strong working relationship: To get the most out of your fractional marketing leader, communicate regularly, provide timely feedback, and be open to their suggestions and ideas. Work collaboratively and you will achieve more together.
Understand the cost structure: Fractional marketing leaders typically work on a project or hourly basis, so it's imperative you understand the cost structure upfront, including any additional costs, such as travel expenses. E.g. Say you hire a fractional CMO for £200 per hour. If they work 15 hours a month, that works out to £3,000 per month or £36,000 per year saving your business on average over £66,000 per year. There are no additional costs, or holiday or sick pay to sort out either!
In conclusion, opting to hire a fractional CMO to get you up and running fast is an increasingly popular choice for founders and leaders of many early stage and growth companies. It appeals because it requires minimal onboarding and is a low risk, high reward strategy to activate or accelerate marketing.
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