Hire an Interim CMO (Chief Marketing Officer).

Business Scenarios for Considering an Interim Chief Marketing Officer

Interim CMOs are required when unexpected marketing challenges surface. Operating without a CMO can be a drain on resources, lower morale, and slow growth. The following scenarios usually trigger the need for an Interim CMO:

• CMO Vacancy: When your current CMO resigns, retires, or is unavailable, leaving a leadership gap.
• Transition Period: During the search for a permanent CMO, to maintain marketing functions and strategic direction.
• Strategic Initiatives: For executing critical marketing projects or campaigns requiring specialised expertise.
• Crisis Management: Addressing marketing crises, such as reputation damage or sudden market shifts.
• Rapid Growth: Managing increased marketing demands without immediate access to a full-time CMO.
• Restructuring: Implementing marketing department changes or re-organisation.
• Change Management: Overseeing marketing transformations or adapting to new market dynamics.
• Skill Enhancement: Supplementing in-house teams with temporary leadership to build marketing capabilities.

What Are the Alternatives of Hiring an Interim CMO?

When you need to find temporary leadership cover for your CMO there other options to consider, each with their advantages and disadvantages. These include:

• Marketing Consultant: Hire a marketing expert on a project basis to provide targeted guidance and solutions for specific marketing challenges.
• Fractional Marketing Executive: Fractional CMOs and Virtual CMOs are new leadership models gaining popularity and means you can get agile support without going through the traditional recruitment process.
• Marketing Advisor: Collaborate with a seasoned marketing professional who provides advice and expertise as needed, tailored to your unique needs.
• Non-Executive Director: Appoint a non-executive board member with marketing expertise to offer strategic input and oversight on marketing initiatives.
• Marketing Agency: Partner with a marketing agency that offers interim CMO services as part of a broader marketing package, combining expertise with execution capabilities.

In-house Options

A more cost-effective and convenient solution could include in-house options to cover the temporary absence:

• Cross-Functional Team Member: Assign a capable marketing team member to temporarily step into an interim CMO role while maintaining their existing responsibilities.
• Internal Promotion: Identify and promote a high-performing marketing professional within your organisation to serve as an interim CMO during a transition.
• Secondment or Loaned Executive: Borrow a marketing executive from another department within your company or a partner organisation for a temporary CMO role.
• Contract Marketing Agency: Collaborate with an existing marketing agency specialising in interim CMO services to embed a temporary leader within your in-house team.

Each of the above options carry pros and cons, so you must give each option careful consideration.

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How Much Does an Interim CMO Cost?

Our pricing approach is structured around a standard daily rate, which increases as your business scales. Our philosophy recognises that smaller, early-stage companies often have less complex marketing requirements and limited budgets compared to larger, established enterprises. We use the UK government’s definition of ‘SME’ to distinguish company size.

Our standard day rate is as follows:

Small Businesses

Less than 50 employees; annual turnover under £8.5m or €10m:
£750 +VAT per day / €900 / $950;

Medium-Sized Businesses

Less than 250 employees; annual turnover under £43m or €50m:
£1,000 +VAT per day / €1,200 / $1,300;

Large Enterprises

Over 250 employees; annual turnover exceeding £43m or €50m:
£1,300 +VAT per day / €1,500 / $1,700.

Read more: How Much Does It Cost to Hire a Fractional CMO.