Why Fractional Over a Full-Time CMO?
Reason #1: Get Results Faster
Normally, it takes 3 months or more to find and hire a great full-time CMO: one month of searching (it is very difficult to find an available full-time CMO with strong performance marketing experience); one month of interviews; and (at least) a month-long notice period (results-driven CMOs are almost always currently employed).
A fractional CMO can start within weeks, or even days, to move your business goals forward. Additionally, a fractional CMO can serve as a great ‘stop-gap’ measure until a full-time CMO can be secured (and can even advise, or lead, the recruitment process).
Reason #2: Keep Your Equity
It is pretty much table-stakes that a full-time CMO of a high-growth company would ask for and receive equity in the company they help to scale (most often in the form of stock options). This dilutes the ownership of the investors, the executive team, and other employees. With a fractional CMO, you do not need to give up shares to grow - they are compensated on a strictly cash basis.
There is also sometimes a financial and legal cost (not to mention time required) to alter the capitalization table for companies. This expense (and time) is saved by bringing in a fractional CMO instead of full-time CMO.
Reason #3: It’s Just Easier
With a fractional CMO, there is no payroll to set up, elaborate benefits packages to payout, or vacations/flex time/sick days that can delay progress (4 weeks or more of vacation is standard for a CMO). It’s just more of what you want (getting to your business goals) and less of what you don’t (administrative work and disruptions).
The 12-week fractional CMO engagement from Eighty Twenty is designed to be a simpler, less time-intensive, and less-risky investment than hiring a full-time CMO.