There has been a growing demand for part-time CMOs, also known as fractional CMOs, in large enterprises where transitional or short-term functional leadership roles need to be filled. According to a recent report by the CMO Council sponsored by part-time CMO service provider Chief Outsiders, this need is due to CMO transitions, lack of specific skill sets, new competitive market conditions, diversification, market expansion, restructuring, acquisition, rapid growth, or a changing business model.
Marketing team reorganisation (62%), CMO termination or leadership failure (50%), and global expansion or new market entry (48%) were the top three reasons why business leaders are turning to part-time CMOs for help. These reasons stem from the fact that modernisation of marketing organisation, systems and operation is required to ensure the company is able to meet consumers’ needs.
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