The best firms understand the relationship between risk and reward. It is their responsibility to ensure that the fractional CMO develops its staff in accordance with the company's culture and values. Prudent decision makers act courageously because they KNOW and UNDERSTAND risks and manage them intelligently. They don't punish failure or waste learning opportunities, as failure indicates that people are looking for answers, trying new approaches and looking for new ways to create value for the company.
When it comes to getting the best return on investment from a fractional CMO solution, businesses need to take certain steps to ensure success. First, they need to make sure that their fractional CMO is developing their staff within the norms and values of their company's culture. Second, businesses should make sure that their fractional CMO is developing a cadence of “execute, evaluate, learn and refine” to produce the desired results. Third, businesses should make sure that their fractional CMO is providing visibility into marketing efforts.
Finally, businesses should make sure that their fractional CMO is not biased when it comes to recommending marketing tactics. Taking these important steps will ensure that your decision to hire a fractional CMO was truly wise. After the acquisition, a fractional CMO can develop and implement the organization's marketing strategy. Driven by a strong bias to action, a fractional CMO always leads the implementation and achievement of the growth strategy.
One of the most effective ways a fractional CMO can help a company is if it lacks a strategic plan or visibility into marketing efforts. A fractional CMO is different from a marketing consultant or agency, but there must be some kind of user manual or good advice you can give to someone considering a fractional CMO and how to get the best results from their investment. Many companies that hire a fractional CMO have talented and ambitious young marketing specialists who aren't ready for a CMO position, but could be. Since the fractional CMO is not dedicated to selling services, their recommendations are not biased; there is no risk that they will recommend marketing tactics that are not right for the company.
By taking these steps businesses can ensure they are getting the best return on investment from their partnership with a fractional cmo solution. A fractional CMO can be a quick relief for a company in need, either because it needs an expert to fill a vacant position or an external actor to audit existing marketing operations and advise it on new directions.
