Growing a business is exhilarating — but it is no easy task. Sheer enthusiasm and effort will only take you so far. It might help you get the ball rolling and raise a few rounds of funding, but there will inevitably come a time when your growth will stagnate. When that day comes, it will be in your best interest to surround yourself with proven experts who can help carry your brand to the next level.

This is especially true when it comes to marketing. To hit your next growth goals, you will need to bring in a seasoned marketing professional who knows how to develop an integrated strategy that effectively promotes your brand and converts people into customers. This requires experience in generating leads across multiple channels, managing people — and managing a P&L.

In other words, you need a brilliant chief marketing officer who understands what success looks like and knows how to deliver it. Unfortunately, finding this capable person is often easier said than done, especially for small to mid-size businesses.

The Path to Find the Right CMO

We have seen companies waste tons of time and money trying to recruit and hire full-time CMOs. It usually looks something like this:

Turn to your personal network to see whether a friend (or a friend of a friend) is looking for a job. Most of the time, this approach will not yield top-tier talent — and it could easily present an awkward situation in which you jeopardize a friendship by telling someone, “Sorry, you are not the right fit for my company.”

Post a job description, which leads to a deluge of résumés and cover letters. Sifting through them in search of someone with the right experience and attitude for your company is no short order — and that is assuming you or your hiring manager understand what the right CMO candidate even looks like.

Hire a headhunter to do the dirty work for you. A headhunter will most likely speed the hiring process, but it is also a huge investment not in headhunting fees.

All of the above options could easily cost your company more time and money than it has to spare. From there, you still face several rounds of interviews and salary negotiations before you can potentially fill the position with a great candidate. Then you have time required to on-ramp the hire. It could take you up to a year to find the right fit, negotiate mutually beneficial terms, and incorporate the new hire into the fabric of your company.

Imagine if the hire does not work out. If your growing business is looking to improve its marketing results today, we strongly recommend you take a different route.

When to Consider a Fractional CMO

Fractional CMOs are basically on-demand executive-level marketers. Just like traditional CMOs, their ultimate goal is to supercharge your current marketing efforts, identify new opportunities for experimentation and growth, and provide mentorship to your in-house team.

However, there are two big differences between fractional CMOs and traditional CMOs: Fractional CMOs will cost you much less money, and they are equipped to have an immediate impact on your marketing ROI from day one.

Sure, you will be working with an “outsider” — but this outsider will lend an impartial eye to your company’s inner workings. We will make honest suggestions regarding your current tactics and strategies, provide input on future initiatives, and put a plan in place for follow-through. Just as importantly, a fractional CMO will put all the necessary metrics in place that illustrate your marketing ROI.

Last but not least, a fractional CMO can serve as a stopgap while you search for your future full-time CMO. He or she will ensure your company does not lose momentum as it takes the time it needs to find the perfect permanent hire. They can even help you weed out candidates who will not meet your needs during your search.

If your company is stuck in a rut and is struggling to accelerate its growth regardless of how much time, money, and effort you invest toward the cause, it is time to consider partnering with TBGA and hiring a fractional CMO. Our fractional CMOs are industry veterans who have embedded themselves in a wide variety of businesses across multiple industries. We know exactly what it takes to help companies like yours achieve their next growth goals.

Contact us today for a one-hour consultation to learn more about how our marketing veterans can accelerate your brand’s business growth.