More than ever, businesses are open to the idea of subcontracting their need for marketing expertise. To have an edge over competitors, businesses are always looking for ways to minimise the use of resources and maximise profits.
Fractional marketing is one strategy that has been proven to be effective in this area. This approach has become a valuable tool for business growth, allowing businesses to access top-level talent easily and at an affordable cost. In this article, we will extensively discuss the fractional marketing advantage and how it aids business growth.
What is Fractional Marketing?
Before we move on to the details of fractional marketing benefits, let us first understand the subject matter and what it entails. Fractional marketing involves having access to marketing services from experts on a part-time basis and at an affordable cost. The traditional method of marketing usually involves hiring marketing experts for a full-time employee position at a company.
However, this is not sustainable for businesses that do not have the funds to run a marketing department at that level. The digitalisation of many aspects of marketing also makes it easy to consider an alternative in fractional marketing. This means that a business can have access to high-level marketing expertise without a full-time commitment.
Key Features of Fractional Marketing
Some of the features or concepts that make fractional marketing a great solution are on-demand expertise, flexible arrangements, and low costs.
- On-Demand Expertise:
With fractional marketing, a business can have access to top-level professionals in the marketing field on demand. It is one of the key features that makes it profitable for businesses that want to grow demand for their products or services.
- Flexibility:
Another key feature of fractional marketing is the flexibility it offers business owners. You can decide what the terms of your contract will be with a fractional marketing expert. Whether you want them to work for a period where you have high marketing needs or are looking for an ongoing solution, you can get the marketing services you receive tailored to your preferences.
- Part-Time Services:
A fractional marketing professional is not committed to work with your company full-time, like an in-house marketer. You can decide on the terms of your contract to be hourly, weekly, or as scheduled.
- Lower Costs:
Another key feature of fractional marketing is its associated lower costs. Given that fractional marketing professionals do not work as full-time employees, your company gets to spend less on their services.
Advantages of Fractional Marketing for Businesses
Fractional marketing has grown in popularity and acceptance over the years and in various business industries due to its many benefits. Let us look at the ways fractional marketing benefits businesses below.
- Budget Optimisation:
One of the features of a growing business is the ability to work with the available budget and still maximise profit. This is one key benefit that employing the services of fractional marketing professionals can offer your business. Rather than spending a lot of money paying salaries, and other overhead costs that come with employing in-house marketing experts, you can reduce your expenses.
- Better Resource Allocation:
Along with cost-effectiveness, another important benefit that fractional marketing offers a business is the opportunity for better allocation of resources. In economics, the scale of preference helps a business sort out needs and wants in a bid to focus on the important tasks and leave out the non-essentials.
Fractional marketing frees up the available resources for your business to invest in other aspects of your operation.
- Specialised Skills & Expertise:
Fractional marketing experts are professionals with a wealth of experience in handling marketing matters. The level of growth this brings to any business is incomparable, as these professionals understand marketing trends and have access to the latest tools which can help to achieve lasting marketing results.
In most cases, a business may have a specific need for marketing services, such as the need for a content marketer or a digital marketer. Fractional marketing provides access to the specific skill required and with the highest level of expertise and experience.
- Accelerated Results:
You can compare the time it will take to hire various marketing professionals and get them to build a team to using fractional marketing professionals and see that it is much faster with fractional resourcing. With fractional marketing, you get to achieve results faster by circumventing the painstaking process of hiring and training employees.
Another way in which fractional marketing helps to achieve faster results in businesses is the amount of time it takes for these professionals to implement their strategies. As experts, they can get the work done in record time based on their track record and experience in achieving similar results with previous clients.
- Improved Efficiency:
The fractional marketing advantage is not limited to a business’s marketing goal; other aspects of the business can be positively impacted by the efforts of a fractional marketing team. By outsourcing your company’s marketing tasks to professionals, you can rest easy and focus your time on other aspects of your business.
This focus can be the difference your business needs to achieve its growth as the division of labour can help to improve business efficiency and result in growth.
- Scalability & Flexibility:
A business that is well-positioned for growth is one that can easily adjust to changing market demands. All industries experience change based on seasons and market conditions and it is important that your business can adapt to these changes to thrive.
Having fractional marketing professionals on your team can help to ease this process. As experts in the world of marketing, they have useful experience and knowledge on the best practices that can help a business scale through changing conditions. The flexible nature of fractional marketing also makes it possible for these professionals to adjust their marketing efforts to match the changing conditions.
- Fresh Insights:
Seeing things in a different way can change the way you view it as a business owner. This is what happens with outsourcing. Marketing experts work with various businesses and over time, and have a wide array of experience and knowledge bases to extract from.
Having these individuals with such a wealth of knowledge can be a game changer for your business. They can be the fresh eyes that your business needs to spot inconsistencies that in-house employees may have a bias to. These fresh inputs can also help to come up with better working strategies that bring about results.
Conclusion: Fractional Marketing Benefits for Accelerated Growth
Fractional marketing represents a pattern shift from the traditional model of addressing marketing needs with easy access to better marketing services, better resource optimisation, easy implementation of high-yield strategies, and many more benefits. The fractional marketing model comes as a solution to the challenges that come with the traditional marketing model and its advantages are available for all businesses, no matter the industry.
Whether you are a start-up looking to develop a strong marketing presence, or you are an established company that needs some marketing support, fractional marketing is the solution that can help you achieve accelerated results.
Frequently Asked Questions
What are the advantages of fractional marketing?
Fractional marketing offers a wide range of benefits that can help to significantly improve and grow a business. Based on its flexible nature, some of the advantages of fractional marketing are budget optimisation, access to high-level and specialised skills, faster implementation and results, creative or innovative ideas, easy access to advanced marketing tools and technology, easy scalability, and many more.
What are the types of fractional marketing services?
Fractional marketing is a broad marketing model and it covers all marketing activities. Therefore, there is a wide range of marketing services available under fractional marketing and on a part-time basis. Examples are; fractional digital marketing services, fractional content marketing services, fractional product marketing, fractional social media marketing, fractional chief marketing officer (CMO) support services, and many others.
What is fractional product marketing?
It takes a great level of effort to move a product from its production stage to the market and this is what product marketing entails. However, rather than the traditional method of product marketing that requires a whole in-house team, you can access the same level of expertise much more easily and at a lower cost—this is fractional product marketing. It involves hiring a product marketing expert on a part-time basis to handle all the activities from production, to launch, marketing, and even after all to achieve product success.
Who benefits from fractional marketing support?
Fractional marketing support services are available for all kinds of businesses in all key industries. The business categories with the most benefits from fractional marketing are small-to-medium or startup businesses, large companies undergoing a transition or needing executive marketing support, companies that are seasonal or do project-based jobs, and organisations that need fresh insights into their marketing strategies.
