How Can I Measure The Success of a Fractional CMO

As an executive hiring a part-time or fractional chief marketing officer (fCMO), determining their success and return on investment is crucial yet can be challenging. In this article we discuss how you can accurately measure their success.

Unlike the clear metrics of sales volume or expenses to judge a full-time CMO, gauging the impact of a fractional marketing leader requires a nuanced approach across both quantitative metrics and qualitative progress.

When bringing on a fractional CMO, first and foremost, set clear expectations and benchmarks upfront aligned to larger business goals. Common goals may include lifting brand awareness by a target percentage, increasing lead conversion rates, or growing revenue or market share within 12 months.

With specific, measurable goals established, it becomes easier to track progress.

On the quantitative side, examine marketing metrics before and after onboarding a fractional CMO. Lift across metrics like website visitors, whitepaper downloads, email open and clickthrough rates, and sales-qualified leads can demonstrate the tangible impact of your fractional marketing leader’s strategies and execution. Tie these marketing KPIs to broader performance indicators like deal size, shortened sales cycles, and faster revenue growth rates to confirm the fractional CMO’s positive effect.

But raw metrics alone don’t always tell the full story. The intangible benefits of a seasoned fractional marketing expert can be just as valuable. Assess the improvement across branding, positioning, and messaging as a result of your fractional CMO’s leadership. Are target customers and analysts perceiving your company differently and more positively? Has your fractional CMO elevated internal credibility, collaboration, and execution across the marketing function? The steady, expert hand of a fractional CMO guiding complex activities like rebranding efforts, martech stack integration, or industry narrative shaping has a profound qualitative impact.

To measure success, schedule periodic reviews against those initial goals and metrics while also discussing the less tangible progress being made. A simple scorecard tracking both types of impact can clarify progress over time. After 6, 12, and 24 months, step back to examine the bigger picture of business and marketing results being driven with the fractional marketing leader on board compared to without. Factoring in the part-time nature of a fractional CMO, the total return for many companies can be exponential compared to the investment.

Additionally, don’t overlook the importance of clear and consistent communications. Ensure your fractional CMO provides regular updates across key programs and activities to give full transparency into what is being worked on and completed. With strong communication rhythms in place, misalignment of effort and effect becomes less likely.

Finally, have your fractional CMO document their strategies, plans, research, and recommendations over time. This documentation becomes a handoff playbook for when your needs grow to a full-time CMO or if you decide to bring marketing leadership completely in-house. Their work should live beyond just their tenure to fuel ongoing success.

Hiring a part-time fractional chief marketing officer comes with huge advantages for acquiring top-tier strategic marketing talent to accelerate growth. But their success can’t be measured by traditional metrics alone. Look at the combination of tangible metrics lift and intangible positioning progress against clearly outlined goals to determine the true value being driven for your company. With the right approach, a fractional CMO can deliver an exceptionally strong return on investment through their fractional time and deep expertise.

If your company needs a B2B SaaS Fractional CMO, consider working with Peter Geisheker, CEO of The Geisheker Group. Peter has been providing Fractional CMO services for over 20 years.