By Ryan Stoner, marketing strategist and brand consultant with two decades of experience inspiring big-picture thinking and brand growth.
There are many reasons why you might be considering hiring a fractional chief brand officer (CBO). Maybe your company has hit its growth ceiling and needs help growing beyond it. Or maybe you’ve hit a plateau in your brand strategy and want to get back on track with a smart new plan. Maybe your marketing team is stuck at a roadblock, or maybe someone in leadership needs to spend more time focusing on what’s going on with their brand.
As someone who offers fractional CBO services, I’d like to share six signs that indicate you need a fractional CBO, as well as how to choose the right person for the job.
1. You have a well-established brand, but you need help to get to the next level.
If you have a well-established brand, but you’re struggling to take it to the next level, a fractional CBO can be the ideal solution. They can provide a fresh perspective and new strategies that can help you grow your business and reach your goals.
2. As the CEO, you’re stretched too thin and can’t focus on defining the brand.
As a CEO, it’s impossible to do everything. However, if you find that you’re stretched too thin and can’t focus on defining your brand strategy, then it might be time to hire a fractional CBO. They have experience working with CEOs to define brand strategies, and they can help you create a plan that aligns with your business strategy.
3. The company needs more accountability for brand performance.
Measuring brand performance is essential to understanding how well your brand is performing in the market.
When it comes to measuring brand performance, there are three key metrics a fractional CBO can help you define:
• Brand awareness: How well-known is the company’s brand among its target audience?
• Brand preference: Of all the brands in your category, which one does your target audience prefer?
• Market share: How big is your slice of the pie in terms of sales or revenue?
4. Inefficiencies in your brand strategy are holding back results.
A brand strategy is a living playbook that should be updated periodically to stay relevant and competitive. If you’re not making these updates, you risk losing your competitive edge. A fractional CBO can help identify inefficiencies and keep your brand strategy aligned with your business strategy. They can also ensure that everyone on your team understands it and owns it, leading to more efficient and effective collaboration.
5. Your marketing team needs support from someone who has been in their shoes.
A fractional CBO has been on the front lines of a marketing team and understands the challenges your team faces. They’ve seen success and failure from multiple angles, which means they can provide guidance and support to help your team focus on the right things and improve their performance.
6. You want to improve your ability to change culture and drive results through your marketing efforts.
A fractional CBO can help you change the culture of your organization and ensure that everyone is aligned with the same goals. They can also help you create a cohesive brand story across all platforms and channels to reinforce your uniqueness and mission statement.
Before hiring a fractional chief brand officer, it’s important to consider whether this position is the right fit for your organization. While a CBO can bring a fresh perspective and creative vision to a brand, they may not be the best choice for all companies. For example, if you are looking for someone to handle the marketing function and business-side responsibilities, a chief marketing officer (CMO) may be a better fit. CMOs have a broader focus on customer experience and engagement, while CBOs tend to focus on brand management and consistency. Additionally, in more established companies, a full-time CBO may be necessary to help the brand evolve its voice and meaning while staying grounded in its core values.
Now that you know the signs that indicate you need a fractional CBO, let’s discuss how to choose the right person for the job.
To choose the right fractional CBO, you should look for someone with experience in your industry and a track record of success. They should have a deep understanding of branding and marketing, as well as excellent communication and collaboration skills. You should also look for someone who is a good cultural fit for your organization and shares your values and mission.
When choosing a fractional chief brand officer, it’s important to ask the right questions to ensure that they have an approach and skill set that align with your organization’s needs. For example, here are some questions that can help:
1. Can you provide examples of how you have helped other organizations create a compelling brand story that resonates with stakeholders?
2. How do you plan to ensure consistency in our brand messaging across different channels, markets and categories?
3. How do you measure the success of a branding campaign, and what metrics do you use?
4. How do you plan to work with other members of our executive team to ensure that our brand strategy aligns with our overall business objectives?
5. Can you share any success stories from your previous experience as a CBO, including how you helped organizations achieve their branding goals?
In conclusion, although certain businesses may find that a CMO or full-time CBO is a better fit, hiring a fractional CBO is an excellent option to consider for your business. They can provide a fresh perspective and new strategies and can help you achieve your brand growth goals.
