When your business grows, marketing usually follows and the go-to move is often hiring a full-time CMO or marketing manager. While this seems like the most straightforward path, it's a decision that comes with significant drawbacks you should consider.
The first and most obvious hurdle is the expense. A highly-skilled CMO or marketing manager can command a substantial six-figure salary, and that's before factoring in benefits, bonuses, and other employment costs. A CMO salary is expensive. For many growing businesses, this is a massive financial commitment that might not be sustainable.
Beyond the cost, you're also placing all your marketing expertise into a single person. No matter how talented they are, one person will have a specific set of skills. Even the best marketing leaders have strengths and blind spots. A brilliant strategist might struggle with performance data, while a paid ad expert might not be strong in brand building. A brilliant brand strategist might lack experience in performance marketing, or an expert in social media could be weaker on email campaign development. This can lead to a lopsided marketing strategy and missed opportunities.
The traditional hiring process is also slow and risky. It can take months to find the right candidate, and once you do, there's a significant ramp-up period. A new hire needs time to onboard, understand your business, and develop a strategic plan. You could be six months or more into the process before you see meaningful results, which can be a long wait when you need to build momentum.
This is where a fractional marketing team offers a compelling alternative. Instead of hiring one person, and paying a CMO salary, you gain access to a team of specialized experts for a comparable or lower cost. This means you get a strategist, a content creator, a social media manager, and an ad specialist (for example)—all working in sync for your business.
A fractional team provides immediate expertise and a diverse skill set. These teams are already established and have a proven track record, allowing them to hit the ground running from day one. You can bypass the lengthy hiring and onboarding process and immediately leverage a group's collective knowledge to get the results you need faster.
Ultimately, while the idea of a CMO might seem appealing, a fractional marketing team can offer a more agile, cost-effective, and comprehensive solution for your business, providing specialized talent without the long-term commitment and inherent risks of a single hire.