Fractional means that multiple non-competing companies share me as their Chief Marketing Officer (CMO). Typically, this means I’m engaging with your company and marketing team once or twice per week.
A “Fractional CMO” is a way to get CMO-level involvement in your company without having to incur the costs of a full-time headcount. More important than the cost considerations, it provides broad-based and on-demand perspective around best practices in customer acquisition, sales pipeline development, and marketing execution.
Here are four scenarios that warrant a fractional CMO:
Since there is a range of choices in picking someone who can act as your company’s marketing executive, the trick is to align your needs, opportunities, risks and budget to the potential resource. Here are the key questions to ask yourself:
The short answer is somewhere between US$150/hour and US$1,500/hour. Which is to say, you might find some single person Marketing companies who are interested in doing ad-hoc work on an hourly basis. Most times, however, the more established CMO’s are dedicated to their craft and this is their only income stream. Depending on their track record and who they have worked with or still work with, they have earned the right to charge more.
We work on a minimum retainer of two days a month, but in most cases, we recommend one day a week, if the goal is to ramp up quickly. Our daily rate is US$1,999.00. For clients who sign a contract for 12 months, we give the 12th month free, i.e. an effective rebate of 8.33%.
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