Does a Fractional CMO for startups make sense for founders? Typically, when a startup has raised some funding, the founder’s intuition, when it comes to marketing, is to hire a CMO, and let her/him build the team. To some extent, it makes sense. But is there a better way? I think there is, and this is my pitch. It boils down to giving the founder/s optionality on three dimensions.
All founders have an idea, actually an ideal, that they would like to hire as their CMO. And whatever the external conditions are, if you’ve ever hired for senior roles, you’d know that it usually takes quite a while to hire that person.
As a Fractional CMO for startups, I am able to buy time for the founder/s while making the choice. They can hire without hurry. That’s because the work in brand/growth/marketing is progressing. In the meanwhile, the founder/s also save time by reducing their number of direct reports in the marketing team. Not to mention mind space on the many micro decisions that need to be made on a daily basis.
The key here is that both of us understand this is not a long term solution. While the relationship is not transactional, it is also my job to help the founder/s get a replacement before our contract is over.
Choice
The CMO is a critical hire, one that if not done right, will give a startup and its founders a lot of headaches, including the time and costs of finding a replacement. That makes it a role that should not be filled in a hurry because there are so many variables involved – a matching worldview, a belief in the business that is being created, the person’s own aspirations, and that ambiguous thing called culture fit.
The early or even mid stages of a startup are almost always full of experiments. A CMO need not necessarily have the expertise, or the inclination to pick up a specific sub domain in marketing if that’s not in line with their career path. And this is pretty difficult to predict earlier, especially at the time of hiring!
As a Fractional CMO for startups, I can manage everything from brand to marketing automation and all that lies in between, with deep dives into specific areas that might help the startup in the short-term. This flexibility, I believe, is critical for startups.
Clarity
The work that a Fractional CMO does also gives the founders an idea and a benchmark based on which they can fine tune their ideal candidate. Depending on the nature of the business, the domain in which they’re competing, the resources already in place, and the results of the experiments I mentioned earlier, the criteria for a CMO will vary.
When I work with the founders and the organisation at large, I am able understand the nature of the job, specific focus areas, and the culture. That, combined with my marketing domain expertise, gives me the ability to hire someone who is most likely to succeed in the role.
Wait, there's dessert
A Fractional CMO does not have a notice period, and the overall cost outlay is going to be much lower than a full time CMO.
In essence, a Fractional CMO for startups provides the founder/s a cost effective way to grow the brand and business without the pressure of making a quick hire, or the worry that a junior team is running marketing without a strategic direction in place.
Further Reading:
A 20 point Fractional CMO guide for startup founders