Investing more time and money into digital marketing is on your business’ to-do list. But you don’t know where to begin.
There are many digital marketing initiatives and channels you could explore. Choosing the best methods for your business can be overwhelming and difficult. You could use some help analyzing the behavior of your customers. Then, you could pinpoint a clear path to attract them.
Should you hire a full-time chief marketing officer (full-time CMO)?
What about a fractional chief marketing officer (fractional CMO)?
Or do you just need to supplement your existing marketing team with a little extra help?
If you’re looking to give your current resources a boost, adding fractional marketing services is a more cost-effective solution than hiring full-time employees (FTEs). When you outsource a fraction of your marketing department, your business gets expertise, reliability, and flexibility—for less money.
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Cost Analysis: Fractional Marketing vs. Full-Time Hires
Let’s look at the costs of hiring fractional marketers vs. full-time hires.
A fractional marketing team with two to four experts costs $68,000 to $102,000 annually.
An FTE marketing team with two to four experts costs $250,000 to $500,000 annually.
Compare the higher-priced part-time marketing team with the lower-priced full-time marketing team. The price difference is $148,000. Your business saves 59% with the fractional marketing team.
What if you need help with marketing and tech? Let’s crunch those numbers.
A fractional marketing and tech team with four to eight experts costs $102,000 to $136,000 annually.
An FTE marketing and tech team with four to eight experts costs $500,000 to $1,000,000 annually.
Look at the price difference between the high-end fractional team and the low-end in-house team. It’s $364,000. Your savings is 73% with a fractional marketing team.
Why is a fractional marketing team less expensive than an FTE marketing team? When you hire FTEs, your marketing budget includes more than annual salaries. Additional costs include benefits, payroll taxes, paid time off (PTO), and infrastructure. The time spent on interviewing, training, and onboarding FTEs also costs extra money. A fractional marketing team doesn’t need vacation pay, health insurance, or instructional time.
Benefit Analysis: Fractional Marketing vs. Full-Time Hires
Now explore the benefits of outsourcing marketing to fractional marketers vs. FTE marketers.
Increased Flexibility and Scalability
When you hire an in-house marketing team, you’re committed. Whether you’re a startup, small business, or enterprise, you pay a certain amount of money to each team member.
With a fractional marketing team, you only pay for services rendered for as long as you want. You can start with a month-to-month contract. This short-term commitment lets you see how the partnership progresses. Plus, you may add and subtract services as needed.
Access to a Wider Pool of Expertise
Let’s say there’s a strategist, analyst, and project manager on your FTE marketing team. But your digital marketing team structure contains additional roles. There are positions such as social media manager, blog writer, and SEO specialist.
Without these extra people, your team must take on more duties. They create LinkedIn posts, write blog posts, and handle search engine optimization (SEO). And these tasks may not exactly be in their zones of genius.
Fractional marketers bring a wealth of knowledge across the industry to your business. You get access to experienced marketing professionals in each area of digital marketing. You don't have an FTE working outside their wheelhouse. Instead, you get a specialist who excels at their activities.
Improved Efficiency and Productivity
When FTE marketers are busy with a new product or another initiative, they may get behind on tasks. They could drop the ball on projects or reach maximum capacity. Fractional marketers have the knowledge, resources, and personnel for your entire strategy.
Fractional marketers perform project and team member management for your business. They ensure your marketing needs are being met. Your outsourced marketing leadership is directly accountable for your project’s success. So they’re motivated to give you regular updates and deliver fast execution.
More Potential for Innovation and Creativity
FTE marketers are involved in the day-to-day operations of your business. They may have difficulty thinking outside the box and coming up with fresh ideas. A fractional marketing team brings outside perspectives to your marketing goals and objectives.
Fractional marketers work with a variety of businesses and industries. This diversity fuels strategic thinking and produces creative solutions for your marketing campaigns. Objective professionals give you original approaches to initiatives like branding and graphic design.
Interested in seeing what a fractional marketing team has to offer?
Why Businesses Choose Fractional Marketing vs. Full-Time Hires
There are many reasons companies choose outsourced digital marketing over in-house marketing programs. Business leaders often want a high return on investment (ROI). They also seek a competitive edge and devoted attention to projects.
Return on Investment (ROI)
A fractional marketing team typically costs less than a full-time employee's salary. While you may have to pay fees to an outside marketing agency, you’ll have fewer administrative costs. Plus, you won’t pay for equipment, technology, or continual professional growth.
Smart business owners know consistent marketing efforts are essential to growth. Fractional marketing leaders have made careers out of helping businesses like yours succeed. They have the resources to develop and execute your marketing strategy. Fractional marketers can also set an existing plan in motion if it's been on hold because of time and money.
Fractional marketers have the expertise to focus on specialized marketing projects. They know how to deploy a content marketing strategy or a rebranding initiative. Fractional marketers devote themselves to your business goals. They also keep up with the latest industry trends. This dedication results in the best possible execution of your marketing plan.
Choosing the Right Fractional Marketing Services
Fractional marketing is cost-effective marketing.
Get back more hours in your workday. Partner with a self-managing team of marketing experts. You can scale and adjust to your business needs at a fraction of the cost.
O8 is a fractional marketing agency that seamlessly integrates with your marketing department. We ensure on-demand support from the correct skill set.
Let O8 fill the gaps in your marketing team. Contact one of our digital marketing executives today.