How much is an Interim CMO?
An interim CMO is a short-term solution for businesses that do not have executive marketing or a full-time Chief Marketing Officer. This temporary CMO is hired for a limited time period to oversee and lead all marketing functions. The average hourly interim chief marketing officer rate is between $200 and $375.
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Frequently Asked Questions
What does an interim CMO cost?
Interim CMO hourly rates are determined by expertise, with $150 being on the lower end of the spectrum and $500 at the highest. Many interim CMOs charge between $200 to $375 per hour.
A contract Chief Marketing Officer can be a sound investment, saving you the money of paying someone full-time while still getting all the advantages of having a CMO. The price will depend on various factors such as how much assistance and how long you need an interim CMO. In most cases, the cost is relative to how comprehensive the level of service is.
What is the average interim CMO hourly rate?
An interim CMO’s fee can be hourly, retainer-based, or day-rate and determined by the scope and time commitment. CMO rates usually start at $150 per hour but could be as high as $500 per hour depending on the industry. The going rate for an interim CMO is typically between $200-$375/hour.
What does an interim CMO retainer cover?
An interim Chief Marketing Officer is brought in on either a part-time or full-time basis for a limited amount of time. They act as the company’s head of marketing. The interim CMO’s primary responsibilities are:
An interim CMO is paid to plan, develop, implement and oversee the marketing strategy. In addition, they are responsible for leading and inspiring teams to achieve customer acquisition and retention goals.
What is NOT included in an interim CMO retainer?
- A specific set of predetermined strategies or tactics
- A guarantee of lead and revenue growth in a short period of time
- That it covers all outside marketing expenses (for example, advertising, content development, SEO, public relations)
How much should I budget for an interim CMO?
Use HPZ Marketing’s free Interim CMO Budget Calculator to find out how much you’ll need to spend on a temporary CMO.
If you’re in search of an interim CMO who will solely help with planning and strategy, the cost will be lower than if you need someone to lead your marketing staff, strategize, and carry out those plans. Nevertheless, it’s always prudent to get quotes from a few different interim CMO’s so that you can find the best fit and cost structure for your busines.
The amount you spend on an interim CMO varies based on the required time commitment and scope of work. Interim CMOS’s usually dedicate 1-10 hours per week, but some may even work full time.
Depending on the size of your business and how much marketing help you need, you might only spend 1-3 hours per week on activities such as coordinating lead generation campaigns and creating an SEO plan. If you are a larger company with an existing marketing team, you will likely need to spend 20 or more hours per week for strategic planning, leading projects, supporting customer-facing initiatives, and coaching and mentoring your team.
Is it expensive to use a interim CMO service?
Working with an interim CMO provides numerous advantages. Some people believe hiring one is expensive when in reality, you don’t have to break the bank. You’ll need to invest in marketing regardless, but since they are experts and can start working on day 1, an interim CMO will provide a better ROI than someone less experienced.
How much should I spend on an interim CMO?
Use our cost calculator to help you plan your budget.
Interim CMOs are usually hired for a certain period of time, depending on the scope of work and the duration of the marketing objectives. For example, if you need help developing a strategic marketing plan, creating lead generation strategies, implementing marketing software, and generating revenue growth, you will likely need to pay at least 40 hours per month for an interim Chief Marketing Officer.
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