Can you name the year? Two baby pandas were born in the Atlanta Zoo, selfies became a thing, and I wrote my first post on the little-known concept of a Fractional CMO. The year was 2013. In six blink-of-an-eye years, those cubs became bears, my mom takes selfies on a daily basis, and Fractional CMOs have become part of the marketing landscape.
One of my favorite marketing tools, MOZ, shows that the term is searched between 200–500 times per month. And while C-level executives, especially those who lead high-growth businesses, understand the premise of a Fractional CMO, many questions remain.
Marketri began formerly offering Fractional CMO services in 2014, so I suppose we are pioneers in the space. Over the past five years, we’ve fielded a wide range questions from those ranging from CEOs of prospective clients to marketing agency leaders wanting to adopt this hot, growing offering.
But let’s clear things up. Here are the top questions we’ve received about Fractional CMOs and our general answers to those questions:
What’s the difference between a Fractional CMO Company and a Strategic Marketing Consultancy?
What separates these two offerings is the degree to which the service provider becomes integrated into its clients. Companies engage Marketri’s Fractional CMO service to structure and lead the marketing department and achieve growth. The relationship we have with our clients is fluid based on their evolving needs. They also tend to be longer-term. Our average Fractional CMO engagement is between three and five years.
Strategic marketing consulting engagements tend to be structured around a project such as the creation of a Strategic Marketing Plan, developing a clear visual brand and message, starting the lead generation engine, and/or structuring a marketing department.
What is a standard Fractional CMO hourly rate?
While every company is different, Marketri currently charges $250 per hour for Fractional CMO services. We work on annual retainers that are based on the amount of time we spend on a client account.
Unlike many providers, we offer Fractional CMO in a pod, meaning we have a team of senior-level, digitally-bent modern marketers collaborating on every client account. We believe that no one marketer has all the answers and many marketing heads are better than one. That said, every Marketri client has an account champion, which makes for seamless communication. The hourly rate may seem steep (or not), but we deliver measurable results. We encourage prospective clients, especially those who want or need to grow aggressively, to view our services as an investment.
Are Fractional CMO services delivered in-person or virtually?
All companies are different. Marketri works with our clients virtually with periodic in-person visits. Our clients seek growth and the right company to lead them on a journey towards predictable lead generation. As shared earlier, we work in a pod-like structure. That’s a different model than one person per account, which is more conducive to regular, weekly in-person interactions.
If we had to sum it up, Marketri treats Fractional CMO as a consulting service. Other firms are modeled like staffing firms.
How can a Fractional CMO help my company?
Marketri’s clients hire us to achieve growth through marketing that is increasingly scalable and predictable. We view the process as a journey, and we serve as the guide. Marketri, however, may be different in that regard. Some Fractional CMO companies work with organizations seeking a plan, brand clarity, and/or brand awareness. Those are needed services but can be delivered more cost-effectively through a structured, well-scoped consulting engagement than having someone serve as part-time CMO.
For more information about Fractional CMO, check out our many blog posts on Marketri’s blog or visit our fractional CMO services page. If you’re interested in learning more about structuring a marketing department, you can also click the button below to download our free guide.