Out of a global workforce of 3.38 billion people, almost half (1.57 billion) are freelance, The World Bank revealed last year. But the definition of “freelance” is evolving to now reach the C-suite, including senior marketers. Cue the rise of the fractional C-Suite.
The pandemic changed many aspects of work, introducing more companies to the concept of hybrid schedules and boosting digital transformation. It also changed the mindsets of many executives, who saw how their lives had been overtaken by their professions.
For most senior marketers, the idea of taking a professional step back would have previously meant a career break or moving into consultancy. The emergence of the fractional CMO position offers a new opportunity to use their experiences and skillsets.
But marketer roles are proving more elusive due to the state of the world’s economy. Research conducted by Indeed for ADWEEK discovered that the number of job posts featuring “marketing” in the title on the platform has decreased 16% since 2021 in the U.S. and 15% in the U.K.
Meanwhile, a simple search on LinkedIn for the term “fractional CMO” lists 283,000 results. And that is only likely to grow in the future as awareness of the benefits and demand for the role increases.
The position is proving attractive to very experienced marketers. The fractional capacity allows them to decide how and when they work, offering the chance to align it with their personal and career interests. With emerging technology, remote working hubs and talent platforms, the world is their oyster if they have the desired skillsets. The shift is also a boon for smaller brands, allowing top marketers to offer the value of their knowledge and experience at a rate small companies can potentially afford.
“There’s value in honing your skills as a CPG marketer, but also in applying a fresh perspective to an entirely different category. A fractional CMO role can allow you to do exactly that: take on a new challenge in some of your time and have a big impact on an organization without it becoming your only focus,” explained former Mondelez and Beam Suntory senior media executive Jerry Daykin.
The appeal to businesses
Startups that were previously unable to afford a highly experienced marketer are finding they can approach individuals to come in and steer their communications needs on a 15-hour-per-week contract. It also lightens the long-term commitment of both parties, and comes with a much lower salary.
What makes the fractional CMO different from a consultant, explains Úna Herlihy, co-founder of Irish talent company The Indie List, is the responsibility that comes with the job.
“A fractional CMO comes in and has the accountability for all of the work and doesn’t necessarily get stuck into the weeds of the day-to-day—nor should they—but they are accountable, they have KPIs to deliver,” Herlihy said.
Due to the emerging demand for professionals in the fractional capacity and a lack of job sites advertising vacancies, The Indie List founded The Fractional CMO Collective, which provides access to a curated range of experienced and talented senior marketing specialists.
There are other reasons why the job is gaining traction. It offers efficiency, as the hiring of a CMO can be a protracted and expensive process, especially for startups or smaller companies. It also offers flexibility to work with a variety of marketers depending on a company’s business needs as they emerge and need adjustment.
You can’t get the depth of relationship that you might do with other people in that organization or other leaders, because you’re not there every day.
John Hammond, fractional chief revenue officer, JHKL
The hiring of a fractional marketing leader is also a chance to test the waters for both parties. If a good fit is found on both sides, then it may lead to a more permanent situation.
The role of the marketer has also never been so complex, with the need to align with sales while also navigating growing ESG regulations, keeping pace with technology solutions, and ensuring the business’s messaging is both effective and authentic to customers. There may be a need for more than one person to ensure those elements are all covered.
Add to that the need to react to world events—for example, rising tensions in the Strait of Hormuz are impacting the world’s supply chain—which affect costs. An experienced executive can steer a business through these situations.
“With all of the challenges that businesses are facing … to be able to pick and choose who you want to solve different problems, it’s kind of a no-brainer,” added Herlihy.
The risks of going fractional
As with any marketing evolution, there are downsides to the seemingly new and exciting innovation.
With the increase in awareness of the number of business professionals laying claim to the title of fractional CMO, there has also been an increase in imposters who often lack the skills and knowledge to develop sound marketing strategies that meet businesses’ needs.
“That’s one of the most critical parts for the C-level fractional roles. It’s no good unless you’ve spent a period in a C-level position. There’s just no point dressing it up, and most clients can spot it a mile off,” commented fractional chief revenue officer John Hammond.
He also highlighted that while a fractional leader might carry some responsibilities, they won’t invest the same amount of energy and time as a full-time executive, and that companies should understand that expectation when filling the role.
“You can’t get the depth of relationship that you might do with other people in that organization or other leaders, because you’re not there every day,” Hammond said. “It’s a bit like moving to a new country to work. Everyone is very nice to you, but they know you’re going to go.”
There are also questions to be asked about just how much a part-time marketing leader can understand the needs of a business and how to help it grow if they are not working with it full-time. Not having a solid grasp is an issue some agencies have encountered when being briefed or offering their solutions.
In the last few years, creative agency Creature has worked with several fractional CMOs to mixed results, according to its founder and worldwide CEO Dan Cullen-Shute.
“If they’re good, it’s fine, but they need to be fucking good, and most of them aren’t, so it’s not fine,” Cullen-Shute said.
He added that the concept of the fractional CMO is predicated on the idea that CMOs operate using a playbook that they can adjust for any given scenario.
“[You] run through steps A through C, and [kablammo] your marketing problem is fixed—that idea is nonsense,” Cullen-Shute said.
The successful ones in his eyes are the marketers who successfully mix being slightly detached from the business to take an external view while understanding its short-term needs.
