Congratulations, your B2B is growing. Although you have the CEO position handled, what your business also needs at this stage is experienced leaders to steer your sales and marketing. However, can you afford the level of talent you need to take things to the next level?
Rather than breaking the bank, or settling for a full-time sales or marketing team member who may not have the desired track record but fits within your current budget, there’s another option to consider: a fractional sales and marketing leader.
What is Fractional Sales and Marketing?
Fractional sales and marketing involves hiring experienced professionals on a part-time basis. Instead of bringing on a full-time employee, businesses engage these leaders for part of their time, ranging from a few hours to a few days each week. This approach gives companies access to seasoned pros without the overhead or commitment of an FTE.
Fractional roles of this nature can include sales managers, marketing directors, demand-generation specialists, and even higher-ups such as VPs or CMOs.
But does fractional hiring work? According to Harvard Business Review, companies that use fractional CMOs report an average revenue growth rate of 29%, compared to 19% for those that don’t.
While relatively new, fractional leadership is a growing trend. Deloitte reports that 25% of U.S. businesses have adopted fractional hiring, a number expected to rise to 35% by 2025.
Benefits of Fractional Leadership
- Cost-effectiveness. As noted previously, hiring fractional sales and marketing resources enables companies to access higher-level skills at lower cost compared to FTEs. Take fractional CMOs, for example, who deliver significant experience but are usually paid at 50-75 percent of a full-time CMO’s compensation.
- Flexibility & scalability. Companies can adjust the level of fractional support as needed, scaling up or down based on business growth, market conditions, or specific campaign requirements.
- Reduced risk. Businesses get the chance to “try before they buy.” If the partnership works well, it can lead to long-term engagements or full-time positions. If it doesn’t, the arrangement can be easily terminated.
What Businesses Use Fractional Leadership?
Startups are the most common users because they lack the budget to hire the senior-level sales or marketing experts they need to guide them during crucial phases. Importantly, such fractional leaders can help them to develop the strategies and processes they will use to establish themselves and gain market momentum.
High-growth businesses or those in a state of transition can also benefit, since the fractional leader can step into a role quickly, and step out just as fast as needs change.
Finding The Right Fit
Before engaging a fractional sales or marketing leader, businesses should outline the specific goals they aim to achieve and scope of work involved. Setting clear expectations ensures both parties are aligned from the beginning.
While fractional leaders often have diverse backgrounds and experience, it’s essential to select someone with a specific track record in your industry. Also, evaluate their demeanor and communication skills to ensure they fit with your culture and can collaborate effectively with your in-house teams.
If your business is growing quickly, or if you need specialized sales and marketing leadership but don’t yet have the budget for a full-time hire, a fractional leader could be the solution.
**Did you know Carabiner Communications offers fractional sales and marketing leadership? We have team members in place at client organizations in exactly this manner to support their strategic growth objectives. To learn more, let’s talk today.