Hire the best Fractional CMO

A fractional CMO (chief marketing officer) is a marketing executive who works on a contract basis for more than one company at a time. Companies of every size hire these executives when they want experienced marketing leadership without the full-time commitment or cost.

These contracted executives can do their job 100% remotely, which enables you to tap a much larger talent pool than what may be available locally. Among the many CMO resources available globally, you’re sure to find an experienced professional with the skills you need and within your budget.

This quick guide provides the essentials for hiring the right fractional CMO for your company.

Writing a fractional CMO job post

You don’t need to write a full job description as you would when hiring an employee, but you should be clear about who qualifies for the project. Here’s how to write a clear job post that attracts the ideal fractional CMO for your business.

Job post title

Create a simple title that exactly describes what you’re looking for, like these examples:

• Fractional CMO to guide a CPG company in rebranding its product line
• Experienced fractional CMO wanted to lead the strategy for an African expansion project
• Fractional CMO needed to drive entry into the Latin American market

Project description

Consider including the following so that the professional knows if they’re a good fit before responding to your job post:

• Scope of work. List all the deliverables you’ll need, such as developing a digital marketing strategy, mentoring an in-house team to understand local markets, and providing financial reports to upper management.
• Project length. Indicate how long you expect the arrangement to last, such as a three-month project, a one-year contract, or ongoing.
• Background. State how much experience you prefer with certain industries, audiences, and products.
• Budget. Set a budget and note your payment preference, such as hourly, flat rate, or monthly retainer.

Job responsibilities

These are a few of the job responsibilities often asked of fractional CMOs:

• Create a comprehensive marketing plan that includes measurable goals and key performance indicators (KPIs)
• Ensure that brand positioning resonates with and engages the target audience
• Oversee the creative direction of marketing campaigns, including media buying
• Inspire cross-functional teams to align with marketing efforts
• Develop partnerships with brands that align with the company and further sales objectives

Qualifications

Don’t be shy about asking for the ideal person based on your needs and budget. Sample qualifications include:

• 15 years of marketing experience
• Proficient in using data analytics tools such as Power BI and Tableau
• Fluent in English and Spanish
• Experience negotiating vendor contracts and external partnerships
• Ability to lead teams through change management 

Helpful information to know before you hire a fractional CMO

Knowing what a fractional CMO can do for your business and what the demand is for their skills will help you make a more strategic hiring decision.

Role of a fractional CMO

A fractional CMO often works with multiple companies at once, so you’ll work together to decide how many hours they’ll dedicate to your business each week. Even though they’re part time, they’re highly effective in providing strategic and core marketing support, such as:

• Creating partnership opportunities. They can leverage their professional network to negotiate opportunities that open new markets and channels for your business—ones that are not only profitable but also align perfectly with your brand.
• Mentoring teams. They share years of industry experience and insights to guide your in-house team on how to approach problems, think creatively, adopt the latest marketing trends, and develop their leadership skills.
• Updating technology. They’ll work to optimize your tech stack, ensuring your team gets the most efficiency from your tools and valuable insights from your data. They handle contract negotiations, advance marketing digitization, and oversee the integration of new sales, marketing, and analytics tools.
• Developing and executing marketing strategy. They bring a fresh perspective to your company, unclouded by groupthink or office politics, allowing them to focus on creating and implementing higher-level strategies that deliver measurable results.

Hiring demand for fractional CMOs in 2024

Hiring demand for fractional CMOs is predicted to remain strong in the coming years. Marketing technology customer expectations change so quickly that many companies don’t have the internal resources to keep up, let alone ensure they’re working strategically.

Fractional CMOs bring years of experience to the table and stay up to date with the latest marketing tech and trends. That’s why companies will continue to see them as a cost-effective way to fill knowledge gaps and guide long-term growth.

Common projects for a fractional CMO

Fractional CMOs can handle everything a full-time CMO does. Because they work with multiple clients, they often have experience with more companies and across more industries than a traditional CMO. Having broad knowledge may help them solve challenges faster (they’ve seen what works and what doesn’t) and approach campaigns with more creativity.

Here are a few examples of fractional CMO projects:

• Campaign strategy. Based on research and business needs, set measurable objectives and goals, establish brand positioning and messaging, create budgets, and clarify target audience.
• Product innovation. Analyze industry trends and emerging technologies to identify where products or services can innovate for business growth. 
• Brand storytelling. Monitor and adjust campaigns so that brand messaging remains relevant and consistent across all channels and audiences.
• Technology efficiency. Effectively use marketing tools and apps to improve customer experience, reduce administrative time, and derive deeper insights from data.
• Performance analysis. Model the financial impact of marketing initiatives and communicate the return on investment (ROI) to stakeholders. Industries hiring fractional CMOs use data insights to optimize strategies.

Nearly any company that has the budget to hire a fractional CMO benefits from hiring one:

• Technology and SaaS. Oversee product launches, establish brand positioning, and provide a strategy to penetrate new markets.
• Healthcare and biotech. Create campaigns that engage both customers and healthcare providers while adhering to industry regulations.
• Startups and small businesses. Provide high-level, strategic input to scale marketing efforts and develop the brand.
• Retail and e-commerce. Optimize digital marketing, customer experience, and omnichannel strategies.
• Financial services. Develop and execute targeted campaigns while adhering to industry regulations.
• Manufacturing and industrial. Give insights into product positioning and industry-specific challenges.
• Nonprofits and education. Create marketing strategies that maximize outreach and fundraising efforts.
• Hospitality and travel. Use data to craft innovative ways to attract and retain customers.
• Professional services. Develop strong branding and content marketing game plans to position the company as a leader in its field.
• Real estate. Design marketing roadmaps for growing market share as marketing conditions change.

Average cost of hiring a fractional CMO in 2024

Hiring a fractional CMO is cost-effective compared to hiring a full-time CMO. Adding up the salary, benefits, and office overhead of a full-time CMO can average between $300,000 to $400,000 annually in the U.S. 

Unlike hiring a full-time employee, you can save more money by working with remote specialists. Adjusting their hours up and down according to your seasonal business cycles makes cost variable with demand.

The cost of hiring a fractional CMO varies depending on their experience, location, hours worked, and industry. Many of these professionals have at least 10 years of experience in marketing and three to five years of management experience.

Here’s how they generally charge in the U.S.:

• Hourly or day rates. Many work hourly at an average rate of $200 to $400 per hour. Some prefer negotiating a flat rate per day.
• Monthly retainer. This popular option runs between $5,000 and $25,000 per month on average. Note that their retainer may be higher relative to the scope of work as they may bring in their own team and use their connections to open new opportunities for your company.
• Project-based fee. If they come in for a specific project, they may charge by the hour or a fixed rate. Rates average $200 to $400 per hour. If they bring in their team, they may charge a fixed rate to complete the project.

Find your ideal fractional CMO now

Fractional CMOs deliver business results by ensuring your marketing efforts generate revenue, opening doors to new opportunities, and leveraging technology to work efficiently.

Whether you need someone to guide your startup, expand to new markets, or digitize your marketing, you can find the ideal fractional CMO on Upwork.

Join Upwork now to access the world’s largest network of freelance professionals for free. It just takes a minute to sign up.