Running a successful business means knowing how best to manage every facet of the day-to-day operations while remaining profitable. In order to stay “in the black”, you need strong marketing, and this is where a fractional Chief medical officer may be exactly what your business may need. There’s just one problem — you don’t really know what a fractional CMO is or what they do.
Don’t worry. Truth be told, the barrage of business-related acronyms you’ll encounter can sometimes throw you for a loop, and fractional CMO is right up there with some doozies.
If you’re new to all of this, all you really need to know is that a CMO is a chief marketing officer, a marketing executive who is in charge of getting you customers, turning these acquisitions into sales, and helping the company grow.
The ‘fractional’ part of things deals with the employment status of this executive with your business/company.
The fractional CMO is a part-time/contract/temporary addition whose job is to provide executive-level leadership for a particular amount of time. Others, it should be noted, can be a bit more uncouth and say that ‘fractional’ has more to do with paying this individual a ‘fraction’ of what a full-time executive might get.
Nonetheless, the idea of a temporary executive solution for a business’s marketing is not necessarily a new concept. In fact, the notion of temporary C-level positions for companies looking to navigate certain periods is actually a fairly common practice.
Watch the news long enough, and you’ll start hearing story after story about how one executive may be pushed out while another is brought in to help fix things. For the fractional CMO, it’s not so much about needing to fix things or clean-up messes; it’s really about clearing roadblocks.