This episode of Fractional Futures explores how Fractional CMOs need to become an indispensable trusted advisor to their clients.
Fractional Futures Introduction
Fractional Futures delves into the transformative world of fractional marketing leadership, offering unique insights for CEOs, investors, and senior marketing executives. Discover how businesses can leverage fractional CMOs to grow faster and build a sustainable competitive advantage. Investors will learn how to streamline pre- and post-investment phases strategies to maximise their portfolio companies' potential, while senior marketing leaders will explore the benefits of a portfolio career and how to excel as a fractional CMO. Hosted by industry experts, each episode features thought-provoking discussions, success stories, and practical advice, making 'Fractional Futures' an indispensable resource for those looking to navigate the evolving landscape of marketing leadership. Available on Spotify, Apple Podcasts, and more.
Episode Summary
Paul Mills and Dan Gwalter discuss how Fractional CMOs can become trusted advisors to their clients. They explore the meaning of being a trusted advisor and how to transition from being a service provider to a retained advisor. They also discuss the importance of building an advisor-level relationship and the value of integration into the client's business. They provide insights on pricing advisory services and the pitfalls of using an hourly rate model. The episode concludes with a preview of the next episode on strategies for expanding client relationships.
Listen to Podcast
Chapters:
00:00 Opening titles
00:12 Introduction
01:53 Becoming a Trusted Advisor
04:48 Advisor vs Consultant
07:35 Building an Advisor-Level Relationship: Integration and Strategic Guidance
10:35 Integrating Into the Business
13:01 From Service Provider to Retained Advisor
15:33 Pricing Considerations
15:55 Pricing Advisory Services: Fixed-Price Contracts vs. Hourly Rates
18:08 The Importance of Accessibility and Trust in Client Relationships
19:06 Next Episode & Closing Titles
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Fractional Futures is also available on YouTube, Deezer, Podcast Index, Podcast Addict, Player FM and other channels. Simply search 'Fractional Futures'.
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Key Takeaways…
- Fractional CMOs need to establish themselves as trusted advisors to maintain long-term client relationships.
- Being a trusted advisor means providing high-level expertise and guidance to clients.
- Transitioning from a provider to an advisor requires building trust and credibility over time.
- Integration into the client's business and involvement in strategic decision-making can increase the value offered as a fractional executive.
- Pricing advisory services should be based on fixed monthly rates with agreed deliverables, rather than an hourly rate model.
Host & Guest Information
Host - Paul Mills, CEO & Founder VCMO
Guest - Dan Gwalter, Founder No-Nonsense Leadership. Dan has kindly offered a complimentary 30 minute consultation to anyone who wants to know more about his fractional executive coaching service. You can book using this link.
About VCMO
VCMO helps SMEs and portfolio companies with the high-level marketing leadership they need to grow and succeed across the full business lifecycle. Its roster of highly accredited Fractional Chief Marketing Officers brings the expertise, strategy and execution to transform marketing potential into a competitive advantage that delivers predictable revenue and sustainable growth.
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