Freelance Interim CMOs For Every Need

Since the pandemic, trends like The Great Resignation have affected every company’s ability to attract and retain critical talent. Studies show that there is now a significant shortage of senior marketing professionals available in the job market. 

An interim CMO, or fractional Chief Marketing Officer, could be the perfect solution. Offering flexible access to senior talent, an interim CMO can help your business thrive, even during the most difficult transitions. Here’s why you should consider hiring an interim CMO. 

What is an Interim Chief Marketing Officer? 

An interim CMO, sometimes referred to as a fractional CMO, is a temporary employee hired for an undefined period of time, often on a freelance basis. Interim CMOs can work either full-time or part-time with a brand to help develop its marketing strategies and processes. 

The purpose of an interim CMO is usually to keep the business moving forward when full-time traditional leadership isn’t available. If your existing Chief Marketing Officer suddenly leaves your business or you find yourself in need of additional support during a transitional period, such as when adopting new technologies, an interim CMO can be extremely useful. 

These professionals often fulfill the same duties often tasked to a traditional CMO. This means they can help with planning, developing, launching, and measuring the results of a company’s marketing strategy. Over the years, companies have turned to the services of interim CMOs for various reasons. 

Some embrace an interim Chief Marketing Officer to help with specific projects that need a certain skill or ability. Others use interim CMOs to assist with rapid periods of growth and change. 

The Growing Demand for Interim CMOs

Though Interim CMOs aren’t a new concept, they have grown more valuable in recent years. One study found that the demand for interim CMOs has increased by 300% in the last couple of years. There are various reasons for this rapid growth.

First, CMOs are grappling with increased pressure to drive consistent growth during a period of rapid change in the marketing space. New technologies and tools have emerged at a record pace in recent years, from generative AI to new social media channels. 

As consumer journeys and marketing strategies grow more complex, CMOs are walking away from previously attractive roles. Currently, we’re experiencing the lowest average CMO tenure in more than a decade. However, the demand for marketing leadership has never been greater. 

Companies need the support and guidance of a Chief Marketing Officer to help them understand the needs of their target audience and assist employees in embracing new skills. CMOs are also often necessary in any company’s growth strategy, assisting with everything from product launch campaigns to strategies for consumer retention. 

In an environment where business leaders are often unable to secure full-time CMO talent, an interim or fractional alternative offers a fantastic solution. With an Interim CMO, companies can access the leadership talent they need for as long as required, with no restrictions.  

What Does an Interim CMO Do?

Hiring a freelancer to work as a CMO for your company, even part-time, can feel like a daunting prospect. Some companies falsely assume “Interim” Chief Marketing Officers aren’t as skilled, dedicated, or capable as their full-time counterparts.

However, Interim and fractional CMOs offer all the same benefits as a traditional Chief Marketing Officer, simply on a more flexible basis. Like a standard CMO, an interim expert can:

Conduct Extensive Market Analysis

CMOs, in all of their forms, are often highly skilled in data analysis and research. If you’re branching into a new market or launching a new product, an interim CMO can collect the data you need to drive your campaigns. They can research your current and future markets and create user and buyer profiles to guide marketing efforts. 

Interim CMOs can also conduct extensive competitor analysis and track the results of your marketing campaigns, comparing them to benchmarks in your industry. This gives you the insight you need to consistently expand your growth. 

Create Marketing Strategies

No matter your promotional goals, a solid strategy will always be the key to unlocking the right results. A CMO can assess opportunities in your industry and create a strategy that involves leveraging the best marketing channels and campaigns for your specific audience. 

They can help you determine how to drive increased revenue, attention on social media, or brand recognition. Plus, they can offer strategic insights on how to implement and monitor various tactics, whether you’re investing in SEO, social ads, paid advertising, or influencer marketing.

Support Brand Growth

The lack of a CMO can make it difficult for a brand to retain a consistent level of equity in its market. Without the right guidance, your messaging and strategies can easily become muddled, leading to confusion among your target audience. 

An Interim CMO can help to preserve and even improve your brand positioning. They can look for ways to boost brand awareness and reputation. Some experts can also help with product development to help you create solutions that are more relevant to your audience.

Process Implementation 

Your Interim CMO can work with you to implement processes that lead to greater efficiencies throughout the organization. They can examine the workflows and strategies of your existing employees, and provide training, guidance, and coaching. 

An Interim CMO can also help you pinpoint areas for potential productivity enhancements. They might assist you with implementing new technologies, such as automation software, to minimize the repetitive tasks your teams need to do each day. 

Leadership and Guidance

A CMO, whether full-time or hired on an interim basis, is a valuable resource for driving successful performance throughout your entire team. They can monitor the progress and performance of not just campaigns but groups and staff members, providing useful feedback. 

They’ll also work hand-in-hand with other departments throughout your business, such as sales and customer service, to align your marketing objectives with your overall company goals. This ensures you can continue to drive continuous growth until you find a full-time CMO. 

The Benefits of Hiring an Interim CMO

The Chief Marketing Officer is one of the most valuable C-level executives in your team. In fact, in recent years, studies have shown that demand for CMOs has grown not just among larger enterprises but within smaller businesses and startups, too. 

While, in an ideal world, you may prefer to have a full-time CMO on your team in the long term, an interim CMO can still deliver a host of benefits. Here are some of the most significant advantages of working with an interim CMO.

1. Flexibility 

Perhaps the best benefit of choosing an interim Chief Marketing Officer to work with your team is that you’ll have exceptional flexibility. You’re not required to hire this employee for any longer than you need to. This means you can access all the support you need for exactly as long as you choose. 

You might decide to hire your CMO exclusively to help with a new project or the implementation of new marketing technology. You also have the freedom to find and work with the CMO that’s best suited to your needs. This means you can look for professionals with specific skills and capabilities.

2. Preserved Progress

If your CMO has suddenly left your organization, the loss of such a critical executive in your team can have a direct impact on your company’s productivity and performance. An Interim CMO can act as a strategic force, filling the gap in your team instantly. They can assess and identify your marketing needs, put strategies in place for other employees to follow, and minimize lost productivity. 

Plus, working with an Interim CMO saves you the time and money involved in searching for a new full-time CMO, and training them according to your needs. Interim CMOs will already have the skills and abilities they need to preserve continued growth. 

3. Improved Marketing ROI

While many companies hire interim CMOs to temporarily replace a full-time CMO, some companies choose to work with these professionals for other reasons. An interim CMO can allow small businesses to test the value of hiring a C-level executive before searching for a permanent team member. They can also bring new perspectives and ideas to the workplace. 

Interim CMOs have the benefit of experience gathered through years of working with a wide variety of different companies in various industries. They’ll be able to introduce new strategies to help you meet your marketing goals and assist you in honing your vision. 

4. Improved Productivity and Efficiency

Fractional CMOs, or interim CMOs, can boost efficiency in your business in various ways. Because they’re not a full-time employee, they don’t waste time on the tasks that many full-time staff members contend with. They can work remotely, which reduces commuting time, and focus on specific valuable tasks each day. 

They also help to boost the productivity of other team members, including those in the leadership circle. Interim chief marketing officers can educate and guide your workforce and provide useful strategies for employees to follow. They can even assist with aligning departments, such as sales, marketing, and customer service teams. 

5. Reduced Risk 

As mentioned above, hiring full-time employees is a time-consuming and expensive process. This is particularly true when you’re searching for someone to join your leadership team. Finding the right employee can take months, leading to significant risks. In the time you spend searching, your brand reputation and employee performance levels could dwindle. 

With an Interim CMO, you don’t have to worry about these risks. You can access assistance immediately, protecting your business and marketing ROI. Plus, though interim CMOs only work with you temporarily, they implement strategies that can help to strengthen the growth of your business in the long term, too. 

Hiring an Interim CMO: The Key Steps

The shortage of talent in both the leadership and marketing landscape has made it incredibly difficult to find long-term employees to add to your team. However, hiring an interim CMO can be a much more straightforward process.

Interim CMOs are becoming far more commonplace as the freelance landscape gives executives more freedom to choose their own hours and which businesses they work with. Of course, just like accessing the assistance of any professional, it’s important to ensure you have the right strategy in place to choose the perfect interim solution. 

Step 1: Assess Your Needs and Project Scope

Before hiring an interim CMO, it’s important to get a clear idea of what you want to accomplish with the help of your new executive. Different CMOs may focus on specific things, such as marketing strategy, policy management, or coaching and supporting employees. 

Think about what kind of help you need from your CMO so you can search for a professional with the right skills. It’s also worth considering how long you believe you’ll need the CMO’s help. Do you want to hire your professional for an unspecified time (until you find a permanent employee) or just for a specific period or project?

Step 2: Know the Key Skills to Look For

While the specific skills and support you look for from an interim Chief Marketing Officer may vary depending on your goals, every short-term CMO should have certain skills. For instance, they need a clear understanding of your specific industry and the kind of customers you want to reach.

They should be skilled in brand development and online reputation management, and most have excellent leadership abilities. Plus, a good CMO should also understand how to assess market data to help drive your campaigns. Other skills to look for include:

• Software proficiencies for the integration of new tools
• Experience with transition dynamics and change marketing
• Exceptional people skills
• Knowledge of industry challenges, standards, and compliance factors
• Skills with specific types of marketing campaigns (social, paid, email, etc.)

Step 3: Determine Your Budget

It’s worth remembering an interim CMO will often cost more to work with than the average entry-level employee. This means you could spend a little more per hour on hiring your CMO than you would if you were hiring a part-time social media expert or something similar. 

The right freelance platform will give you a clear insight into how much you can expect to pay per hour for your CMO’s services. For instance, at Growth Collective, as soon as you create a role, you’ll see an instant estimate of how much you can expect to pay per week. 

Step 4: Examine Your Interim CMO’s Expertise

If you’re using a reputable freelance platform to find your ideal CMO, you should be able to guarantee that your expert has the right level of skill and experience. All Growth Collective interim CMOs have at least 5 years of experience in their industry. 

However, it’s worth doing your own research too. Speak to your potential CMO and ask to see examples of the results they’ve achieved for specific brands. Some professionals will be able to share reviews, case studies, and testimonials to help you make your decision. 

You can also ask critical questions to help guide you, such as “What are the common KPIs you track?” or “What kind of strategies would you suggest for a business in our industry?” 

Step 5: Set Expectations

Finally, before you begin putting your interim CMO to work, it’s important to set clear expectations for them to adhere to. Let them know exactly what your goals are in the coming months. Tell them what you’re going to need them to do, whether that’s building marketing strategies, analyzing your target market, or coaching and guiding your team. 

Choosing a reliable freelance platform such as Growth Collective will ensure you can continue to connect and collaborate with your CMO throughout the project lifecycle. You can always reach out to your new CMO whenever you have questions and even contact a Growth Collective member of staff if you have any issues with your contractor. 

Should You Hire an Interim CMO?

Hiring an Interim CMO can be an excellent way to keep your business moving forward during periods of disruption and transition. An Interim Chief Marketing Officer can perform all of the same tasks as a standard CMO while giving you the flexibility and agility you need in the modern world.

With the right CMO, you can enhance your marketing strategies and ROI, gain access to instant expertise and leadership support, and unlock new levels of growth for your brand. 

If you need a CMO to take your business to the next level, let Growth Collective find the perfect match within our network of top marketing professionals.