CMO stands for 'chief marketing officer'. A chief marketing officer is usually responsible for all marketing efforts across all channels both on and offline.
Businesses hire a chief marketing officer when marketing budgets are such that they require an experienced channel agnostic expert to oversee it.
The CMO will be responsible for all marketing led growth and building the team to support the delivery of all marketing activities.
A fractional CMO only provides consulting services on a part-time or project basis.
Like a CMO, they provide strategic guidance and hands-on support for key marketing activities like branding, digital marketing, customer engagement, and product launches.
That said, a fractional CMO is typically more cost effective and flexible, working on projects as needed. This allows companies to scale their marketing capabilities quickly and cost-effectively.
The CMO role is very broad as it encompasses many channels, disciplines and activities.
The CMO will be responsible day to day for the marketing budget. They will define the brand look and feel, its target audience, ad creative, media channels, sponsorship and events.
Key to the CMO role is hiring the right talent to deliver all this. They will be responsible for defining what roles are required in house, perm Vs contract and also the role of external agencies.
CMO's on Traktion are assessed during a multi stage evaluation process.
Each evaluation covers well over 100 questions, involves an in-person interview with an approved marketing expert, as well as reference checks. During the 3 hour evaluation process we find out a lot of information which helps us determine if they are qualified enough to be a Traktion marketing expert.
In our evaluation we are looking to learn, amongst other things, what types of clients they've worked well on, what verticals and channels they specialise in, as well as what results they have achieved.
CMOs usually price themselves based on a day rate for contract or fractional roles. The day rate will depend largely on the experience of the CMO as well as the complexity size and duration of the project.