What is a Fractional CMO?
Are you a business owner wondering, "what is a fractional CMO?" A fractional CMO (Chief Marketing Officer) is a strategic partner for leaders of organizations who want to elevate their marketing. He/She works collaboratively with a founder, director, or CEO to develop strategic marketing plans that align with an organization's goals, join meetings remotely and work collaboratively as an extension of the team. The fractional CMO then executes the marketing plan, sometimes working with the existing marketing resources or bringing in specialists while measuring and optimizing marketing tactics over time.
A fractional CMO combines experience as a strategic marketer and a project manager to develop and execute a marketing plan at a lower cost than hiring a full-time Chief Marketing Officer or VP of Marketing. In Boston, the average salary of a CMO in 2020 was $204,000, according to PayScale. A fractional CMO costs much less than that.
There are multiple options for who can help an organization develop marketing strategies, including a fractional CMO, hiring a full-time CMO, training existing marketing staff, or hiring a marketing consultant. The right choice depends on the organization's priorities.