Marketing Briefing: As the CMO role continues to change, some organizations turn to a ‘fractional CMO’

By Kristina Monllos

The job of the CMO is ever-changing — seemingly getting more difficult in scope with fewer resources as CFOs continue to squeeze marketing budgets all the while dealing with a short tenure in the position.

It’s no surprise that given those constraints, as well as the ongoing hybrid work environment, some organizations have opted to hire part-time CMOs or “fractional CMOs” — people who will do the job on a part-time basis for a contracted length of time to serve the role of the CMO.

While the position isn’t new — one fractional CMO said he had been working with brands in that capacity for nearly eight years — it’s getting a bit more attention recently, according to those who’ve worked as fractional CMOs and say they’ve gotten more requests recently as well as industry analysts.

“There are a couple reasons the fractional CMO may be more common now,” said David Camp, co-founder and partner at brand consultancy Metaforce, adding that he’s served as a fractional CMO before. “The turnover rate for CMOs is pretty high. The marketing leader is the one that gets the blame for slow or no growth — whether it’s a marketing problem or not they get the blame. There’s lots of churn [in the role] and companies may not want to get a new CMO until they’ve figured out their strategy. Or it could be economical.”

Nick Primola evp and head of the ANA’s CMO global growth council, echoed that sentiment: “It’s been going on for a while in different forms. There’s more structure to it now. More visibility and growth over the last couple of years.”

Tenure for a fractional CMO position varies but is typically somewhere between six to nine months. Types of brands that use a fractional CMO also vary. More established brands may be looking for an interim CMO or a second set of eyes to work with a less-seasoned CMO. Upstarts, meanwhile, may be on the hunt for a full-time CMO but recognize they need help to build marketing capabilities in the meantime.

With CFOs more in control, especially over the pandemic, budgets got tighter and marketers were under more pressure. That will likely continue with a looming recession. Of course, that’s one of a number of issues CMOs continue to face including tenure, expanded roles, data privacy shifts and more.

While Camp has seen requests for fractional CMOs increase in recent years he believes it’s more about a shift in how marketing organizations function now — they’re “more fluid, less traditional than they used to be” as well as the hybrid work environment — than a total increase in the need for the role. Others say the talent market due to the hybrid work environment has made it more difficult for companies to hire management talent now, making the possible need to tap fractional or part-time CMOs more necessary.

At the same time, it’s important that fractional CMOs be integrated into the organization during their contract lengths, according …read more

Source:: Digiday