Based on publicly available compensation data, and a 30% benefits uplift, the cost of hiring a CMO with the right level of experience for a SaaS company is between $28k-$35k per month. This is the main reason many technology companies wait till they can afford the right level of Marketing Leadership experience.
Sometimes this delay leads to lost opportunity cost, or mistakes. This cost usually does not become clear till it's too late to catch up. Our services can help you get started on time, without the scary commitment of hiring an expensive, full time CMO.
Stijn Hendrikse discusses the average tenure of Chief Marketing Officers at SaaS companies, and how a CMO as a Service, or Interim CMO can be an alternative solution.
The below graphs compare the investment in a CMO-as-a-Service vs. hiring someone full time. For this example we took typically compensation data in an average market (so not Silicon Valley, details here) and added benefits, cost of hiring, equity vesting and potential severance. In the below analysis the cost after 5 years is about $2.2M for a CMO on your payroll, vs. $1.4M for a CMO-as-a-Service. If your W2 CMO does not last 3 years the economics worsen.
Below are the details comparing the cumulative cost of a W2 CMO with a CMO-as-a-Service