Pay-Per-Performance CMO Incentivised to smash your goals
A great head of marketing is a very highly paid gig, and worth every cent. The average in Australia according to Indeed is $153,657
Bringing in a CMO adds a more strategic and longer-term vision to your marketing activity. Helping to set the business up for success to realise its long-term vision and goals, navigating the different scaling roadblocks along the way.
The strategy and project management to make the best use of the specialist talent that is working on implementation and tactics, to achieve a better result.
But the questions that growing businesses face are:
When should we get one?
What should we do if we’re not quite ready for one?
The missing piece to growth and avoiding wasted marketing spend
If you’re wondering what a fractional CMO is and who we think it suits, please read our blog post on the topic here.
We think the CMO is the strategic piece that is required for campaigns to work efficiently and for a growing business to stay on track.
If you don’t have a CMO, and you’re working with media buyers, creatives and agencies then you as the business owner become the CMO by default, with 100% of the responsibility and 100% of the cost if it works or doesn’t.
Adding a strategic and project management piece into the team helps to share the responsibility of the vision, and the efficiency and consistency of all the specialist parties involved in delivering the work that will help achieve the result in the quickest possible way.
Incentivising your Pay-Per-Performance Fractional CMO
If you’re open to the idea of incentivising your fractional CMO, we are happy to provide a discount on our usual fees in return for an incentive if goals are reached.
This is customised to every unique situation, although we find a good way to do it based on gross profits so that we’re accountable for how efficient marketing spend is.
Here’s how a client might incentivise us as an example:
In this scenario, we are calling ‘gross profit’ total revenue, minus all marketing and advertising costs. We are not including product costs.
Once gross revenue hits X per month, commission payments of 5% of gross profit for the calendar month will be made on top of the monthly fee.
Total fees including commissions can be capped at $15,000 per month.
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