A recurring problem in the fast-paced industries of tech and hospitality is when a business knows it needs a high-level, strategic approach to marketing, but it doesn’t have the funding to hire a full-time head of marketing. As a result, accountability is placed on a junior marketing staff member, the head of sales, or another executive who lacks the necessary time or experience to give marketing the attention it requires.
Consequently, marketing becomes disoriented. Brand communications lack coherence and strategic direction. Things take an eternity to be delivered and authorized. In the meantime, the content becomes stale and the few leads that do come in are mostly junk.
Building brand awareness and trust, producing sales leads, and promoting business expansion are all made possible by marketing. There is a limit to how long a company can operate on autopilot before its sales start to lag behind its competitors and its market positioning becomes unstable.
Hiring a fractional head of marketing is becoming a more and more popular choice for businesses. Perhaps it’s a franchise hotel with little marketing requirements, a start-up in the hospitality tech space funded entirely by Bootstraps, or a travel agency in need of short-term assistance with creating a marketing strategy.
An executive who manages a company’s marketing department part-time or temporarily is known as a fractional head of marketing, sometimes known as a fractional chief marketing officer or vice president of marketing. For a small fraction of the expense of a full-time CMO, the company gains access to senior-level marketers’ knowledge and expertise.
Of course, fractional hiring is nothing new. For many years, companies have outsourced everything when there isn’t enough work to warrant a full-time staff, from tech support to human resources. Companies often contract with agencies and freelancers to handle website administration, social media, content generation, and public relations.
Executive-level outsourcing, including that of fractional chief financial officers, chief marketing officers, and even fractional chief executive officers, is new. Technology advancements, the gig economy, and the move toward remote and hybrid work have all contributed to this trend. Retiring from full-time jobs, successful CEOs are working on their own and consulting for several brands. Companies can now acquire elite talent that they otherwise wouldn’t be able to afford or recruit.
The hospitality industry is particularly affected by the trend of fractional hiring.
A fractional CMO’s services will change according to the demands of the business, the contractor’s availability, and the scope of the commitment. The person may receive a retainer, hourly, or daily payment.
Roles can be divided into two main areas:
Occasionally, a company requires short-term assistance to address a particular issue. In this case, someone might be brought in for a defined period, like a few months.
Short-term fractional service examples are as follows:
Many companies require more than a temporary solution. A fractional CMO could be hired in this situation for a year or perhaps permanently, on a part-time basis. The person will be more involved and a vital member of the team than in a typical consulting function.
Among the longer-term fractional service examples are:
Having held several full-time and part-time vice president of marketing jobs, say with certainty that most companies eventually require a full-time head of marketing, although smaller and transitioning companies may not always be able to afford one. When this happens, a fractional CMO can assist in building the brand to the point where a permanent, full-time head of marketing is needed.
The following are a few benefits of having a fractional head of marketing:
Not every marketing professional looking for part-time work will be a good fit. These are some of the most important characteristics for travel and hospitality tech startups to consider.
Companies no longer have an excuse for letting marketing go adrift with the increasing availability of fractional marketing experts. When the proper person is employed, they can accomplish their marketing goals without sacrificing quality or going over budget.
Welcome to GameStopToken (GSTM)—an all-in-one destination for entertainment, gaming, and education. With the motto "The… Read More
The job market is now more competitive than it has ever been before. Many candidates… Read More
EQUITRADING Global Recovery Alliance (EGRA), a global leader in fund recovery, has launched six fund… Read More
The Global Equities Trading Challenge will officially launch in October 2024, spanning over five months… Read More
Today's Google Doodle honors the life and legacy of Lizzie Emeh, an award-winning Irish, Nigerian,… Read More
In an industry where longevity and slow growth are often the norms, TeaMax Cafe has… Read More