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Tuesday, May 28, 2024
HomeSummaryFractional Marketing: A Game-Changer For Business Growth

Fractional Marketing: A Game-Changer For Business Growth

The growth of a company in today’s market is challenging due to increased competition, higher costs of paid acquisition, and a multitude of marketing channels. A recommended approach for companies ranging from startups to Fortune 500s is to work with fractional marketers. Fractional marketing involves hiring external experts part-time, providing specialized skills without the cost of full-time staff. This strategy offers flexibility and a broad range of expertise.

Marketing has evolved significantly, with an abundance of channels and advanced analytics allowing for more scientific and measurable marketing strategies. The rise of specialists over generalists has become apparent, as the diverse and complex nature of marketing channels requires specific expertise.

The work environment has also changed, with remote work becoming more common. This shift has allowed companies to hire the best talent regardless of location. The best marketers are increasingly working as fractional experts, valuing the ability to drive results for multiple companies and the flexibility of remote work.

Fractional Chief Marketing Officers (CMOs) are in demand for their ability to quickly create and implement effective marketing strategies. Beyond fractional CMOs, companies are building “fractional marketing stacks” with part-time experts in various marketing disciplines, which can be more cost-effective and flexible than full-time teams.

Companies can hire fractional marketing teams through recruiting agencies, freelancer platforms, or specialized marketplaces like Growth Collective. The process involves defining marketing leadership, setting clear goals, determining tactics and channels to test, and creating specific goals for each channel. Budget considerations and the level of expertise required are also important factors in the hiring process.

Fractional marketers are beneficial for navigating economic uncertainties, handling seasonal fluctuations, launching new products cost-effectively, testing new marketing channels, and for startups needing to quickly demonstrate growth. Growth Collective offers a platform where companies can find and hire fractional marketing experts tailored to their specific needs.

Key Takeaways:

  • Businesses are increasingly hiring fractional marketers to access specialized marketing skills and achieve growth objectives more flexibly and cost-effectively.
  • The marketing landscape has become more complex with numerous channels and advanced analytics, necessitating a more scientific approach and the rise of marketing specialists over generalists.
  • Remote work and the ability to build distributed teams have transformed how companies hire marketing talent, allowing them to engage best-in-class experts for specific channels and strategies.

“The rise of marketing specialists has been rapid, and many companies still don’t understand that. Hiring somebody and expecting them to be able to be successful across a host of marketing channels is not just unreasonable, it also is a sure-fire way to waste money and time.”

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