What is an interim CMO, you wonder?
Hiring an interim CMO (in the USA often referred to as a ‘fractional’ CMO) is a flexible and cost-effective option to consider when you know you need senior marketing leadership at your company without committing to a full-time overhead cost associated with hiring one.
The concept of interim or fractional C-level executives isn’t new. SMEs have been using fractional team members for ages – fractional CFOs and CIOs are common. Now, the concept successfully extends to your marketing function.
An Interim CMO is a senior marketing consultant, typically brought in on a short-term basis, equipped with deep marketing knowledge and the skills to get things done.
Essentially it’s a senior marketing consultant, typically brought in on a short-term basis, equipped with deep marketing knowledge and the skills to get things done. A CMO brings professional direction to your go-to-market strategy, implements best practices and establishes key performance indicators (KPIs) that drive business decisions for revenue and growth. They can boost your business with fresh thinking and creativity, build a department and provide leadership, coaching and mentoring.
1. You’re launching a new product
Building a new team, a marketing strategy and establishing best practices from scratch are more difficult than maintaining them. An interim CMO puts you on the right path for growth. Once you’re up and running, you can pass the reigns off to a more affordable long-term solution.
2. Your marketing lacks direction
Do you have a capable marketing person or marketing team, but they just don’t consider the bigger picture or lack a creative spark? Have you fallen behind your competitors? An interim CMO can bring in fresh ideas, an outside perspective and expertise to a wide variety of marketing issues and challenge your outdated assumptions.
3. You have no one leading your marketing efforts
The average executive search takes 3-6 months, hiring an experienced consultant to quickly step into a vacated position and act as your interim CMO allows you to maintain continuity in your marketing department while you search for and interview permanent candidates and help with the vetting process if needed.