How Much Does It Cost To Hire A Fractional CMO?

Factors that impact the cost of hiring a Fractional CMO: 

Typically by Fractional CMO These professionals are typically hired on a part-time or project basis to provide high-level strategic marketing expertise without the commitment of a full-time position. The cost of bringing on board a fractional Chief Marketing Officer (CMO) can vary significantly based on several factors: 

• Experience and Expertise: often the more experience and specialized CMOs may charge higher rates. In our experience there’s benefit to experience but we would also recommend brands meeting with a range of Fractional CMO’s and assessing one’s needs
• Sector experience: certain sectors of the economy are more cash rich and salaries in these sectors are higher compared to other sectors. For a business hiring a Fractional CMO the most important considerations in our view are transferable skills and experience. Lots of businesses will opt for the easy option of industry experience and miss out on other good options to hire
• Scope of Work: The complexity and breadth of the marketing tasks or strategy required will influence the cost 
• Location: this can have a real impact on the cost of a CMO. Now there has always been regional variations on salaries, but this can be at the extreme when at the senior end: a 5% differential on a £2-3k day rate is a lot higher than a £200-300 day rate 
• Reputation and Track Record: Highly reputable CMOs with a successful track record might charge a premium 
• Contract Terms: Some fractional CMOs charge hourly, while others may have a retainer or project-based fees
• Travel & Time Commitment: Whether it's a few hours a week or a specific project will affect pricing, along with travel to an office or whether it is a remote project 

The cost of a Fractional CMO: 

The typical range for fractional CMOs could be anywhere from £600 per day through to £3k per day. This is a big variation in the day rate. Additionally some Fractional CMO’s will charge by project rather than by day. 

How to access the cost of a fractional CMO: 

• Speak with a range of fractional CMOs to evaluate costs versus benefits 
• What’s the counterfactual? If you don’t hire a fractional CMO who can you hire
• Speak with alternative providers such as agencies that offer such services and discuss your specific requirements to get a precise quote. Always consider their expertise, track record, and how well they align with your business needs before making a decision 
• Speak to recruiters about the costs associated with Fractional CMO’s 
• Research online the costs of Fractional CMO’s 
• Speak with talent providers about the costs associated with Fractional CMO’s 

Finally, we at The Hidden Market are really well placed to help you in your search for a Fractional CMO. We have a significant number of Fractional CMO’s sign up with us regularly so we can provide you with an accurate cost representation. 

Hiring?

• View our ultimate guide to hiring Interim CMOs
• Check out our Fractional CMOs guide