Written by: Vickie Sullivan | June 24, 2021
Should You Hire a Fractional CMO?
Looking for stable revenue without having to incur high marketing costs? According to this spring CMO Council post, global companies will use more outsiders for chief marketing officer (CMO) roles.
Don’t let the above job title dissuade you. The list of marketing leadership gaps in the article includes wide scope such as “operational adaptability and agility.” The big question is if longer-term assignments – such as fractional CMOs – can provide a viable revenue stream? It can be if:
• You’re new and not growing yet. If you are new to the small business scene, this can be a good stop-gap measure if your sales pipeline isn’t full yet. It can also provide specific results if your track record is too general.
Listen: The Biggest Risk to Long-term Assignments
• You’re done with the hustle of client acquisition. On the opposite end of the spectrum, some of us are at the stage where we still want to contribute, but the hunt for clients feels like too much work. This is a great way to keep you in the game without incurring high marketing costs.
A lot of us assume these opportunities aren’t lucrative enough for the typical advisory business. But when we include complicated sales cycles and marketing costs, longer-term assignments outlined in this article could be a missed opportunity for stable revenue.
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