Episode highlights:

There are 7 stages of commitment to being a Fractional CMO. They are directly related to the 7 stages of long-term partnership developed by Jayson Gaddis. 

The 7 stages are – Courtship, Infatuation, Challenge, Collaboration, Security, Expansion, and Ending.

In the Courtship phase, marketers are thinking about what it would be like to leave the noise and responsibility of an agency. They’re thinking about an easier route where they don’t have to deal with things they dislike, such as finance or legal departments.

New Fractional CMOs often face the Challenge phase when they realize they need to go out and win business. While they identify as Fractional CMOs, if they are only serving one client, their perception and reality are misaligned.

The way through the Challenge phase for Fractional CMOs is to build a pipeline, have a confident sales process, and regularly go out and win new business to fill out your desired roster of Fractional CMO clients. For most, serving 2-5 clients works best.

While your Fractional CMO engagement with a client may start as a 90-day arrangement, your intent should be to build a long-term commitment. The effort involved with constantly rotating in new clients will crush you, so make sure you thrill your clients.

Establishing financial security for yourself and your family comes after you have made it through the Challenge phase. Your financial security as a Fractional CMO comes from your pipeline and your predictability in being able to serve clients