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To help businesses get the right level of marketing experience without the expense of a full-time executive, a ‘fractional CMO agency’ is the answer. These agencies have part-time and/or project-based Chief Marketing Officers (CMOs). But how does one differentiate the best CMO from the rest and ultimately find one that is the most suitable For their business needs?

What is a Fractional CMO Agency?
Digging deeper, what exactly is a fractional cmo agency and what can they do for your business? Fractional CMO services can be described as an arrangement whereby businesses get the services of a CMO without having to employ him or her. Often these agencies offer a marketing leadership role and tend to work with new ventures or organizations in flux. If you want to enhance the marketing plan, increase the brand representation or expand the business, a fractional CMO offers executive-level guidance and management however one thing to note is that he or she usually manages more than one client. This means there are likely to be fixed time slots in which you can benefit from his or her services but on the flip side, you also don’t have to pay a full-time price.

Understanding Your Business Needs
Before hiring a fractional CMO company, there are some factors to consider regarding your business needs. First off, it’s best to determine whether you need a general plan for the future, more leads or to change the image of your company, regardless, fractional CMO services are likely to help. Thus, knowing your goals, you will be able to choose an agency that will address your weaknesses most efficiently. This way you will be in a position to tell the agency how you want the services to be done and the agency can then tailor its services to your specifications.

Relevant Expertise and Experience
All fractional CMO agencies are not the same either in terms of the service they offer or even the quality of the service. It is advisable to search for agencies that have worked in your industry or with companies of a similar size as yours. A CMO with experience in your industry will know your market trends and issues and thus help you achieve your goals. It is advisable to ask for such information as case studies and previous clients’ contacts to determine how well the agency can perform in similar situations. This can help ensure your total peace of mind that your fractional CMO company will be up to the job.

Clear Expectations for Communication
It is very important to be in constant communication with a fractional CMO agency. Defining the expectations of communication – the frequency and the mode of communication, the way of reporting on the progress – will prevent misunderstandings in the course of the partnership. Ensure that the agency is quite open, giving out information on what they are doing and also making changes depending on your input.

Clear Vision
Any fractional CMO agency you want to hire should be able to identify your current pain points and paint a picture of how your brand will be in the future. They should provide you with a strategy and a plan that is consistent with your future business goals and plans. This vision entails identifying the purpose of your company, its market standing and the competition in the market so that any marketing move is strategic and effective.

Affordable
One of the factors that are always taken into account when hiring people from outside is the cost. Another advantage of fractional CMO services is the cost efficiency as compared to that of a full-time CMO. But, one has to make sure that the services offered by the agency are affordable to you and at the same time provide the required value. There are agencies that may charge their services on an hourly basis, a specific project, or a retainer and it is advisable to know which suits you well.

Data-Focused
Data has become the king in the current marketplace. A fractional CMO agency should be very analytical-minded and should employ metrics and data to track the success of campaigns and improve on them. Inquire about the ways through which the agency leverages data in its strategies and how the agency will determine the effectiveness of the marketing. This will be crucial in ensuring that you grow your business in the right manner since they will be providing you with data analysis.

Cultural Fit
Last but not least; look into the cultural compatibility of the agency. Marketing is an extension of your brand and therefore the agency you choose should be in tune with your company culture. An agency that understands your brand will be able to convey the brand essence in all the marketing campaigns that it undertakes.

Taking these factors into consideration ensures that you will be in a position to make the right decision when selecting a fractional CMO agency that meets your business needs and delivers better marketing outcomes.