Microsoft. Oracle. Adobe. Salesforce. These powerhouse B2B software companies dominate the market and occupy coveted spots on the Forbes Global 2000 list but how does an up-and-coming software company begin to compete with chart-topping enterprises? They hire an expert Fractional CMO with expertise in the B2B software industry.
What is a Fractional CMO?
A Fractional CMO is an executive, contractual Chief Marketing Officer with vast and valuable experience in multiple industries. These C-suite experts work to develop, analyze, and implement laser-focused marketing data on behalf of companies that either don’t have or aren’t in a position to hire a full-time CMO. They devote a “fraction” of their time solely to the contracting B2B company – hence Fractional CMO.
What Does a Fractional CMO Do?
A Fractional CMO (FCMO) specializes in leading strategic marketing efforts while simultaneously guiding marketing employees toward the procedural take-over once the contract has ended – essentially forming experts in their own right. They create, prioritize, and analyze corporate-centered key performance indicators (KPIs). These metrics offer both marketing success rates and help to decide on the need to divert strategy. Their primary goal is to foster sustainable growth for the company they partner with.
How Do FCMOs Benefit B2B Software Companies?
Fractional CMOs are an investment in the future of the business when hiring a full-time CMO is not feasible but… how does hiring these experts offer a return on this monetary investment?
Analyze Current Marketing Path and Pivot Where Needed
Once contracted, a Fractional CMO scrutinizes all current marketing efforts within a B2B software company, analyzes any current metrics, and investigates success and failure rates. Using that information, the FCMO develops or enhances current metrics to align with an improved marketing strategy to boost the B2B software company’s bottom line.
FCMOs Deliver a Speedy Takeover
Fractional CMOs can hit the ground running – making the most of the contracted time together and demonstrating verified outcomes in a shorter amount of time. If a B2B software company pauses marketing operations to hire a CMO, the company is already behind the ball.
Since FCMOs aren’t employed by one specific company, they begin working to construct an effectual marketing strategy in as little as a few days as opposed to hiring a full-time chief marketing officer – which requires onboarding and takes months.
FCMOs Possess Industry Mastery
Marketing B2B software demands a specific mastery of the industry. Fractional CMOs have executed verified methods to success, have a pulse on current marketing trends, and have exhibited leadership in multiple companies to execute exactly what the team needs to continue revenue-boosting procedures.
Innovative Implementation Initiatives
FCMOs truly comprehend the target market and how to deliver results to both B2B software clients and companies. With an ever-changing market as innovation grasps the industry, Fractional CMOs project the next steps long before they are taken – innovating the marketing objectives and tackling metrics head-on.
Over time, traditional marketing methods are overused, worn out, or have dulled within the market making them almost obsolete. FCMOs invent new implementation initiatives that “wow” leads and actually yield a return.
Streamline Processes for Effective Resource Management
Analysis of current resources, products, and services is part of the expertise of a Fractional CMO. Researching and implementing streamlined processes to optimize resources, both monetary and physical, helps B2B software companies save capital while implementing marketing functions to create a wider spend-to-income ratio.
What to Look For When Contracting an FCMO
As opposed to a traditional full-time CMO, a Fractional CMO’s goal is not for long-term interpersonal dynamics and the adoption of corporate core values. When reaching out to these potential marketing partners, skip the small talk and get down to business.
- Select an experienced Fractional CMO that has ample experience in the B2B software industry and carries the knowledge of what works and what doesn’t
- Discuss their track record with previous B2B software company partners
- Outline initial expectations and marketing objectives that are clear, direct, and attainable
- Request references and be sure to contact them
Conclusion
Debating on whether hiring a Fractional CMO is worth the investment? Analyze the current B2B software company metrics, marketing methods, and outcomes, and located the areas for improvement. Do you have the expertise and resources to solve these problems quickly and efficiently? If the answer is no, don’t delay. It’s time to hire an experienced Fractional CMO.
