Post by mdsaikwat03 on Feb 17, 2024 5:03:52 GMT -6
Revenue responsibility. A fractional CMO needs the fiscal savvy to manage a marketing budget. They should be able to measure the impact of each marketing initiative their team runs, and adapt spend accordingly — all while keeping an eye on not just return on ad spend (ROAS) and conversion rates, but the ultimate metric: profitability. “CMOs are really more focused on profitability,” Levine said. “You have your performance [lead], your growth marketing [lead] focused on more of a return aspect… you're pushing back on them to make sure they're not only getting a high ROI and ROAS, but that it's profitable.” “CMOs are really more focused on profitability.
” Ideally, fractional CMOs not only ensure a profitable marketing team, but latestdatabase.com they have a solid understanding of how the entire company spends (and makes) money. The marketing department doesn’t work in a vacuum. “See if they understand how cashflow works in a company,” Levine recommended to companies interviewing marketing leadership candidates. 6. Holistic business understanding. — as C-suite executives, fractional CMOs should understand the entire company. If marketing is an art, it can draw inspiration from anywhere: the supply chain, customer data, company culture and more. “It's super-important for CMOs to understand the entire ecosystem of a company,” Levine said.
“You should understand how your product gets made. It's not just about customer acquisition costs and what you're spending on advertising.” “It's super-important for CMOs to understand the entire ecosystem of a company. You should understand how your product gets made.” To best fulfill your marketing goals, it helps to have a fractional CMO who understands as much about the company as possible. Where to find a “unicorn” CMO candidate Now that you know what to look for when hiring a fractional CMO, the next question is where to look. Startups can look at current full-time executives at major companies that already have the CMO title.
” Ideally, fractional CMOs not only ensure a profitable marketing team, but latestdatabase.com they have a solid understanding of how the entire company spends (and makes) money. The marketing department doesn’t work in a vacuum. “See if they understand how cashflow works in a company,” Levine recommended to companies interviewing marketing leadership candidates. 6. Holistic business understanding. — as C-suite executives, fractional CMOs should understand the entire company. If marketing is an art, it can draw inspiration from anywhere: the supply chain, customer data, company culture and more. “It's super-important for CMOs to understand the entire ecosystem of a company,” Levine said.