The hourly rate can vary widely depending on many important factors, such as education, certifications, additional skills, and the number of years you have spent in your profession. You can hire a fractional CMO when it suits you best, so consider your needs when determining how many hours you need. One aspect of the long-term planning and strategy component of fractional CMO services, part of the fractional CMO's job is to prepare the marketing department to take charge of the transfer once the contract ends. So how do you find a fractional CMO? Major marketing firms often offer reputable fractional CMO services.
A fractional CMO can unify your marketing strategy, make all external vendors agree, and act as the ultimate controller of responsibility for the marketing strategy. If you choose to hire a local fractional CMO, it may be useful for the fractional CMO to regularly visit your corporate office, hold in-person team meetings, and actively participate in the project. A good fractional CMO knows which strategies pay dividends and which don't; he understands which strategies work for other organizations but will not be appropriate for his own; he knows the best service providers, how to communicate their vision and expectations to them and how to get the best offer. Startups and midsize companies that are ready to move from a sales strategy to a growth strategy that could use a shot in the arm should seriously consider hiring a fractional CMO as the path to profitability.
However, an average hourly rate is a good starting point for understanding the cost of a fractional CMO. Companies generally pay for a CMO fractionally based on the number of hours per week they want the CMO to work and the specific marketing products they need help with. Using a fractional CMO service to create and execute your marketing strategy has many advantages over other approaches, including hiring a full-time CMO and hiring suppliers on demand. In other words, the fractional CMO has no time to waste designing a viable strategy, testing and iterating it, and putting it into shape on time and within budget.