FAQs

What is a Fractional Executive?

What the “frack” is a fractional executive?! Don’t be embarrassed that you haven’t heard this term before! This relatively new function has become more commonplace, especially during COVID-19. A fractional executive is a part-time expert who adds seasoned experience at a fraction of the cost for a full-time employee. This skilled person is neither a W2 employee nor on the company’s payroll. Companies that don’t have in-house expertise or cannot afford to employ executive leadership hire fractional executives. Sometimes businesses need a high-powered executive such as a chief marketing officer (CMO), but only for a few hours per week.

Video: What the frack is a fractional CMO?!

Why are companies hiring fractional marketing leaders?

Marketing always gets cut in a downturn, either in budget, staff or both. In fact, Gartner, the largest research company in the world, recently reported that a majority of marketing organizations are facing budget cuts despite the massive increase in digital marketing spending. Even with COVID-19 and the heartbreaking strife within our communities, marketing’s principles still remain the same – getting customers and keeping them satisfied.

Consequently, marketing must figure out how to do more with less while continuing to deliver and even exceed performance expectations. Hiring a fractional Chief Marketing Officer (CMO) or “CMO for rent” helps companies achieve their market penetration and growth objectives without having to hire, on-board, and pay an employee for full salary and benefits. Think of it as on-demand executive to meet the ebb and flow demands of the business.

Forbes article: Why Fractional Marketing Leaders Are Increasingly Attractive To Companies

Do I need a Fractional CMO?
Do any of these sound familiar?
  • I struggle to find the right marketing leader (and honestly can’t afford to hire strategic marketing).
  • We don’t know the ROI on our marketing efforts and are tired of throwing money away without results.
  • Sales and marketing clash over lead quality. (and they fight like cats and dogs!)
  • We’re struggling to set the right marketing and sales budget in today’s COVID-19 environment.
  • We’re unsure what our market potential is (We think it’s more).
  • I wish we could get more from our best customers.
  • We need a strategy that our entire team can understand – please, no more marketing buzzwords or shiny new tech tools!

If you answered “yes” to any of these scenarios, your company might be a good fit for a fractional marketing executive.

Forbes: The outsourced C-level executive a growing leadership trend

 

Outsourcing C-level executives has gained market traction

Forbes began writing about fractional executive services years ago and has only accelerated, especially during the pandemic. Even big consumer brands such as Johnson and Johnson, and Hyatt Hotels have eliminated their Chief Marketing Officers. Poor linkage to brand and financial performance are cited as factors. Engaging a fractional CMO ensures clear accountability and results tied to business outcomes.

What does a Fractional Executive Marketer do?

A fractional CMO is a part-time, highly experienced executive marketer, also known as:

On-demand executive staff

Outsourced C-level executive

Marketing consultant

Gig marketer

CMO for rent

A fractional CMO wisely guides companies on strategies and actionable activities to deliver ROI and brings on skilled vendors and resources to get the job done. Your fractional marketer should act as a W2 employee, keeping your company’s best interests at heart with complete candor and neutrality. What you gain is a hardworking, results-oriented and deeply experienced marketing leader.

Added bonus! Your fractional CMO offers an extra hand to coach and mentor your staff as well.

Blog: https://hpzmarketing.com/what-is-a-fractional-cmo/

How do I choose a Fractional CMO that’s right for our company?
Not all Fractional Marketers are created alike.

Make sure you take the time to interview multiple people. Carry out this process just as if you were hiring a new full-time employee who fills a critical role essential to business operations. Your Fractional CMO must perform as if she is a W2 employee who keeps your company’s best interests at heart.

No matter the size of your company – start-up, mid-size or large –  every dollar spent must be scrutinized, including expenditures for outsourced CMO services. Hiring a fractional CMO immediately adds depth and breadth of experience to an organization, and that person acts as a financial fiduciary for your budgets to help drive business growth and ROI.

What type of fractional executive services does HPZ Marketing provide?
Not all Fractional Marketers are created alike.

Our secret sauce centers around customers.

Get customers. Keep customers. We solve it as a marketing math problem aligning outcomes with budget and revenue, entirely focused on the customer journey.

It’s called Unified Funnel Metrics. aka UFM.

Check it out! UFM

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Questions are the root of all answers. Don’t Be Shy!
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