How to Select a Fractional CMO Agency for B2B

The complexity of business-to-business sales and marketing can make it hard to find a marketing agency or Chief Marketing Officer with the right experience to help you hit your revenue targets. Here is our guide for how to select a fractional CMO agency if you run a B2B company.

It’s Time to Contact a Fractional CMO Agency When…

Here are a few key indicators that your organization should look for a fractional Chief Marketing Officer.

You are a sales-led organization that has hit a revenue plateau
You have a marketing manager or director in house, but no one in the C-level role to set strategy
You have tried working with traditional marketing agencies with mixed or disappointing results
You are poised for growth but face challenges have no systematic lead generation working to drive sales
You have challenges with budgeting for marketing or knowing how to get ROI for your spend

Understanding the Role of a Fractional CMO

A Fractional CMO is a marketing leader who offers extensive marketing expertise to companies on a part-time, outsourced basis. This arrangement provides businesses access to high-level marketing expertise, without the commitment, expense, or risks of hiring and onboarding a full-time executive in-house.

In a B2B context, a fractional CMO is responsible for helping create and implement strategies to drive business growth and health.

Here’s what that looks like when your CMO is doing a great job for you:

Revenue – You are landing more near-term, larger, or recurring deals and cultivating long-tail opportunities

Reputation – Your brand is known for the right things by more of your target audience of decision-makers

Resilience – You have more stability in future pipeline, lead generation ecosystem, opportunity for next big innovation collaboration

These Are Some of the Accountabilities for a Fractional CMO

Building Marketing Strategy (Including Tactics, Priorities, Budget, and Timelines)
Managing Execution of Marketing Tactics and Resources
Tracking and Optimizing Marketing Efforts/Outcomes
Growing Marketing Ecosystem for Brand Awareness & Lead Generation
Maturing Marketing Technology Stack for Automation and Efficiency

What Is a Fractional CMO?

Assessing the Experience & Expertise of a Fractional CMO Company

Experience and expertise are crucial when it comes to choosing a Fractional CMO agency. You want an agency that has a proven track record in B2B marketing, with a deep understanding of its nuances and complexities. Ask potential agencies about their previous work, the results they’ve achieved, and the strategies they used.

One interesting fact is that it doesn’t matter as much as you might think whether a CMO has experience in YOUR specific industry or niche. It matters more that they know how to use B2B marketing to drive results across a variety of industries. This means they KNOW the fundamentals and can easily pick up on the nuances of your business. It also means they won’t just be rinsing and repeating what all of your competitors are doing because they bring a broader perspective to the table.

Learn more about how well an outsourced CMO can REALLY know your business.

What Should a Fractional CMO Engagement Look Like?

A well-run fractional CMO agency will have standardized frameworks and processes that are used for onboarding all new clients. This is a simple example of what a roadmap might look like over the first 3-6 months of your engagement from building a B2B marketing plan to accelerating execution.

EXAMPLE ROADMAP

Deep Dive Buyer Personas
Define Brand Truth and Build Messaging Choreography
Explore Full Marketing/Sales Landscape and Opportunities
Build Strategic Marketing Plan
Validate Plan in Alignment with Revenue Goals
Determine Budget and Resource Requirements
Build Execution Roadmap and Onboard Creative/Digital Team
Launch Top Priority Marketing Initiatives
Build Scorecard to Track Outcomes
Begin Brand Building Activities for Near and Long-term Growth
Capture Immediate Revenue Opportunities with Sales Activation
Develop Marketing/Sales Alignment
Initiate Marketing Automation
Track, Optimize, and Create Reporting around Marketing Efforts
Investigate and Improve MarTech Stack (e.g., CRM usage)
Mature the Marketing Effort for Repeatability and Scalability
Continue Ideation for Fresh Opportunities

Understanding the CMO Agency’s Approach to B2B Marketing

Every agency has its unique approach to marketing. Some might focus on digital strategies, while others may excel at traditional marketing methods. Some might be data-driven, while others might prioritize creativity and storytelling. Your Fractional CMO should have experience across the range of marketing tactics that are most effective for reaching your target market.

It’s essential that the agency’s approach aligns with your business goals, target market, and brand identity. Ask potential agencies to explain their methodologies, and how they tailor their strategies to meet the specific needs and challenges of each client.

Evaluating the Cost and Value of the Service

Hiring a Fractional CMO agency is an investment, and you want to ensure you’re getting good value for your money. Find out what the agency’s services include, and compare this against their fees. Also, consider the potential return on investment. An agency that can deliver strong results and drive significant growth is worth a higher investment. Also, consider how long they can stay with your organization. A good fractional CMO will continue providing value long term.

Factors to Look at in the Cost of a Fractional CMO Agency

Transparent Fee Structure: Ensure the CMO agency provides a clear breakdown of costs, including any additional expenses that could arise during the partnership. Flat rate monthly arrangements that cover a bucket of hours to be used for strategy, research, team oversight, and execution on key deliverables make it easy for the CMO to allocate their time wisely month to month.
Flexible Payment Models: Check if the agency offers different payment models that align with your business cash flow and risk preferences. For example, having a package that is the same amount of money each month can help you manage your budget more effectively. You might want to sign up for a 3-6 month initial engagement before signing an annual agreement. Or, you might choose for a longer-term option if it brings the total cost down.
Scope of Services Offered: Confirm the breadth of services included in the cost— from digital marketing to strategic planning and execution. The more comprehensive the services, the higher the potential value (but only if the services are aligned with the marketing problems you need to solve).
ROI and Performance Metrics: Investigate the agency’s track record for generating return on investment for their clients. High-value agencies will have strong case studies and metrics that demonstrate their impact. For example, you may look at # of MQLs and SQLs generated, YoY revenue increases, and the impact on brand visibility and reputation.
Expertise and Specialty: Higher fees are sometimes justified if the agency possesses rare expertise or specializes in high-impact areas of marketing that promise better results for your specific industry. For example, few B2B CMOs have experience with true Marketing/Sales alignment. This is a significant value add for most B2B companies.
Long-Term Strategic Value: Consider not only immediate gains but also the long-term strategic value that an experienced Fractional CMO can bring to your brand and market position. For example, an experienced CMO can help you find ways to attract investors, attract key talent, or improve the valuation of your business for a profitable exit.

See typical fractional CMO rates here.

Checking Agency References and Reviews

It is always appropriate to ask to speak with an agency’s past and current clients. Ask for references, and take the time to contact them. Inquire about their experiences working with the CMO provided by the agency, the results they saw, and any challenges they encountered.

Online reviews can also provide valuable insights. Look for patterns in the feedback – consistent praise or criticism can give you a good idea of the agency’s strengths and weaknesses. LinkedIn recommendations are another place to look for insight into a specific fractional CMO from a B2B marketing agency.

Are We the Right Fractional CMO Agency for Your B2B Business?

Our Team of Fractional CMOs Has Decades of B2B Marketing Experience

At The Marketing Blender, we have been helping B2B companies build and execute EFFECTIVE strategies for over a decade. Our fractional CMOs are hand-picked for their ability to drive results for B2B companies and equipped with Blender’s proprietary and proven systems to enhance your business revenue, reputation, and resilience.