Your business continues to thrive through the customers that you have built a relationship with and through prospects that you can convert into paying customers. This is why marketing is an essential aspect of the business. But as your business grows bigger, you will realize that you will need to add some people who will handle leadership positions. Among the posts that you need to fill is the senior marketing manager or a chief marketing officer. You may think that it is early for that, or you may have the impression that starting to form your C-suite is needless since you are still acting as the primary marketing person. However, some signs may tell you that you need to hire a fractional chief marketing officer.
For starters, a fractional chief marketing officer is a consultant offering strategic marketing services. They can lead a team of people, sit on board meetings, make crucial decisions, craft marketing plans, and check the budget. But these officers usually work on a part-time basis, thus giving you a chance to test the waters or determine if you need a new post.
Here are some of the signs that you need a fractional CMO.
You only have junior marketing staff
While you are willing to train your junior marketing staff, you may have doubts about your marketing aptitude, especially if this is not your forte. If you want your team to learn, they need to have an empowering leader and mentor who knows the ins and outs of marketing, sales, and advertising. This is where a CMO may be required.
You have no marketing plan
You may have a workflow on how to advertise your products and services. The problem is it is not hinged on a solid plan. A chief marketing officer can help you craft a marketing plan that has solid consumer insight, brand positioning, and key message. All these things are essential when creating an advertising campaign.
You cannot gauge the success of your marketing and sales strategy
If you have a shallow understanding of how marketing works, the only basis that you will use when gauging the success of a campaign is the sales. Experienced marketing officers know that it is more than that. Return on investment or ROI can also be gauged in a variety of factors, such as relationship, brand recall, and cultural impact.
You have a poor customer relationship
Your long-term goal is to build a lasting relationship with your customers. But have you checked the workings and effects of your campaign? If your messaging is purely tactical, you are just building a transactional relationship with your customers. A marketing officer can help you build brand affinity and loyalty.
If you are not yet sure whether your company needs a full-time chief marketing officer, it would be wise to hire a fractional CMO. It is like having a CMO without going full-on with the commitment. However, you have to recognize the fact that they can offer valuable and useful services.