Your first SaaS VP of Marketing shouldn't be in-house. Find and hire the right SaaS Fractional CMO can drive radical growth and scale for your...
Ultimate check-list to evaluate a B2B Fractional CMO
What to look for in your CMO? After many years of hiring, firing, developing and working as a Fractional CMO, here is my ultimate list that I use for every candidate interview, development conversation or performance check-in.
Here are 3 areas to evaluate any Interim CMO, Fractional CMO or SaaS CMO against. You can use this for hiring or performance management.
The Chief Marketing Officer is first and foremost the leader of your Marketing team/function. Especially in a Fractional CMO or Interim CMO role, this is probably the most important aspect of the role.
I like to break this up as follows:
- What's their leadership personality and track record? Have they created followership? Does their team follow them? Are their peers confident in the CMO to lead the Marketing function? Does the CEO follow their lead? And the board of directors? Do they trust them?
- Building on #1, does your CMO command respect? Do they have some Marketing gravitas? This is not just about a strong personality, and could include a track record of publishing content that has given them credibility. Look for someone who is sharp and can think on their feet. Marketing spans complex topics and will often be challenged by others. You want your CMO to have significant intellectual horsepower, while being gentle and patient. Smart, not arrogant.
- What type of teams have they led? This could be about team size, or teams in specific culture (startup vs. enterprise, languages etc.). What was the maturity of the teams they have led? Have they shown an ability to flex their leadership styles (for example situational leadership).
- What's their track record of promotions? This is the ultimate followership metric...leaders who are followed by their teams, peers and managers are usually promoted. Look for at least one promotion from VP to CMO or Director to VP.
- Have they been a complete CMO? As Marketing is a balance of Art and Science, have they experienced both sides? Where lies their strength? Are they more a "Chief Digital" or a "Chief Brand"? Demand Generation or Communications and PR? Most Fractional CMOs will be brought in to focus on one of these, and Full time CMOs will have to cover both.
The number one job of every Fractional CMO, Interim CMO or Full time CMO is to manage the marketing function.
Here are the critical areas to probe for in a CMO job interview, or to evaluate in a performance conversation:
- Attention to detail. The "buck" stops with the CMO, in the way your brand and company "show up", online and IRL. Brand image through content, communications, visual branding and brand voice is their responsibility. These can make or break your company image. Make sure your CMO is the ultimate "guard" of quality of communication and creative work.
- Experience in "Running the marketing trains on time". While this seems a no-brainer, make sure to check if your CMO candidate has managed Marketing Budgets, created a Marketing Plan, is great at reporting (succinct, up and down, and across the team). Ask what their weekly/monthly/quarterly marketing rhythm looks like (standups, team meetings, planning sessions, OKR usage etc.).
- How do they manage a team of a-player Marketing professionals? Look for experience coaching and developing marketing talent. Do they have experience hiring (and firing!)? How have they dealt with top performers and retained them? How have they developed or resolved challenges with low performers?
- Playing the long-, and the short game. Look for experience using both lagging- and leading KPIs when managing the marketing function. How do they focus on short term results and progress, while impacting long term growth?
- Does your CMO have relevant experience in the market segment you service? Understanding the industry, size of customers, type of personas or partner ecosystem is crucial for a CMO to be successful. Have they done the IPO that's in your future, or a product launch or market pivot?
While Marketing is about changing behaviors, and making people believe something new, the ultimate measuring stick is the funnel. Has your CMO shown they can impact the business outcomes you are looking for?
- What is their track record delivering measurable, visible results? Think about funnel growth and new customers. Winning a specific market segment, a product category (Gartner Magic Quadrant, top Capterra rankings) or winning industry recognition (awards? press/analyst coverage?).
- It's hard to "judge" the contributions of a CMO with less then 2 years tenure in a role. If a CMO does not last 2 years, that's a red flag. 4 years is great as it's allowed the CMO to "Build" in the first year, "Optimize" in the second year, deliver "Results" in the 3rd year and shown loyalty to stick around for another year and deliver great "ROI".
- Look for Chief Marketing Officers or VP Marketing pros who've shown they can drive Demand Generation at a reasonable cost. Sometimes you can spend your way to success, and it can be the right approach for a land grab, but you should look for Marketing Leaders who can also do it at the optimal cost.
- What's your CMOs track record regarding Talent attraction, development and retention? The right people in your marketing team are ultimately the best path to both short term and long term marketing ROI.
- Look for a promo track record that shows they've delivered ROI to the organization. Find at least one promotion in a marketing role. From Marketing Director to Marketing Vice President. From Marketing VP to Chief Marketing Officer.
CMOs with a track record of success are hard to find. Since the Marketing Leadership role is so visible, it often gets marketing leaders on a fast track to a CEO or other top executive role, or they get stuck jumping from one role to the next, typically not lasting more then 2 years in a role. There are Fractional CMOs, Interim CMOs and SaaS CMOs you can find though who have a track record of success. These are the marketers-for-life who just love the profession.
Hopefully this article helps you find, develop and keep your ideal Chief Marketing Officer.
(for hiring tips and tools, also look at https://www.kalungi.com/blog/how-to-hire-your-b2b-saas-cmo )