Fractional CMO Versus an Internal CMO:
Your business has grown so much that it’s time to think about hiring marketing skills. When you started your business, you probably thought it was an easy rental.
You find someone who is a marketing expert and gives you a green card in exchange for a more green card in your direction.
Unfortunately, renting is not that easy. If you hire a marketing director, you can choose between two types of hire. You can hire a fractional marketing director or an internal marketing director. Since the number of words does not matter, we use the CMO instead of the marketing manager.
A split CMO works part-time. They can only work with your business or have other marketing clients. Fractional CMOs work as contractors and freelancers who do not pay regularly. Decide together how many months you will work together and what results in you expect (when will the green paper be published?).
An internal CMO works full-time. They work exclusively with your business and their LinkedIn page promotes the work they do with you (because we now know that content generated by employees causes conversions). Internal CMOS contains health benefits and all the other fun incentives your employees offer. They plan to work with you in the long run (we’ve been talking about this for years) to grow your brand and create a predictable sales system.
How do you know what type of CMO to hire?
Someone takes the advice … it’s time for the pros/cons list.
Fractional CMO compared to an internal CMO
Apart from rocks, paper, and scissors, the pros and cons are the best way to find out what kind of GMO you need. We have listed the pros and cons of each type of CMO so you can find out which option is best for your business.
Before entering this list, however, we need to research something.
Just because you rent a split CMO today does not mean that you will not be able to hire a full-time CMO in the future. You do not stick to the option you choose. Yes, we talk to those who feel paralyzed by the analysis when you make this decision.
Working with any marketer is a great idea. Well, someone put a plaster on it.
Benefits of a fractional GMO
Fractional CMOs work over a period of months with your business with a specific outcome in mind. This means that they will not be integrated like a full-time CMO, which has many benefits.
You can hire them for a specific campaign or channel, rather than for the entire marketing strategy – with a fractional CMO you can choose which strategies to work on and an expert hired for paid advertising, email marketing, marketing, content, etc.
You can try to work with them for a few months without working full time: if your fractional GMO does not fit into the culture of your company or does not deliver the desired long-term results, your contract will be terminated and you can work with someone else.
It is not as expensive as an internal CMO. If you want to take your business to the next level but do not yet have the budget for a full-time manager, you can hire a fractional CMO to help you. where you can pay for internal GMOs. (PS, you also have the option to set your fractional CMO as an internal CMO!)
Of course, there are drawbacks to hiring a fractional CMO.
Disadvantages of a Fractional CMO
The disadvantages of accepting a partial GMO are the result of your temporary work at your company. Unlike an in-house GMO, fractional CMOs can see you leave once the contract expires. Sometimes it’s good, but sometimes it’s not good for business.
They will not be available as internal GMOs. Fractional CMOs have other clients to focus on, meaning you’ll only have part of their time each week.
You have to apply another GMO to them – training can be the hardest part of hiring new employees, and with a fractional GMO you can train a full-time GMO in a few months (right after you train the fractional GMO), which delivers up the profit.
They may not see your new marketing strategy – once the contract expires, a fractional GMO may choose to work with you or prioritize another customer. This means they may need to define a marketing strategy on their part and hire another marketing expert to execute it (and the salesperson will likely want to do things their way).
Before deciding whether a split GMO is good or bad for your business, our in-house GMOs should try it or share its drawbacks.
Benefits of an in-house CMO
Internal CMOS work closely with your team and are one of the most important touchpoints for your employees. You need someone who adapts to your company culture and who empowers your employees to do their job and encourages them, which can bring many benefits to your business.
Your sole purpose is your business – having a CMO who is completely focused on your marketing strategy is extremely beneficial for creating a predictable sales system. (Would you work much better if you focused on just one business?)
Soon you will no longer have to train anyone for this role. Once you hire your in-house CMO, you can expect to work with them for years to come, saving you time for the same work in the future.
Can expand the entire marketing funnel – Creating a marketing funnel takes time and experience. With an in-house CMO, you can create a funnel of lead magnets, hotspot offers, and sales challenges.
Well, that’s right, now we have to cover the downsides of working with an internal GMO now…
Disadvantages of an internal GMO
Hiring a full-time employee has its drawbacks. In-house CMOs are ideal for some reason (see above), but they also have their own 2-star ratings…
It’s more expensive – an in-house CMO is not only a full-time employee but also a supervisor. This makes them more expensive than a part-time CMO offered part-time for a few months.
You have a long relationship with them – if you apply an internal GMO and find that it may not fit well in a few months, it can be difficult to let them go. You’ve put a lot of time and effort into learning from your customers and products and designing your version of your marketing strategy – it can hurt.
They work all over the funnel – sometimes it’s great, sometimes it’s not necessary. If you have an excellent paid advertising funnel and only need help marketing content, you may not need a full-time marketer. A partial CMO with content marketing experience can solve the problem.