Interested in hiring a fractional CRO for your business? Make an informed decision with our overview of fractional CRO services, benefits, rates, and tips for hiring.
What’s a Fractional CRO?
A fractional CRO is a Chief Revenue Officer hired on a part-time or flexible basis, rather than as a full-time employee. Fractional CRO responsibilities are the same as a full-time CRO, supporting organizations with revenue optimization and growth initiatives across the business.
Fractional CRO services are becoming increasingly in demand among startups, scaleups, and even established organizations seeking the seniority and expertise of a full-time CRO, but for fewer hours and at a fraction of the cost. Fractional CROs often work for more than one employer and are paid on a monthly contractual basis.
Hire a Fractional CRO for your organization
Who Needs a Fractional CRO?
Hiring a fractional CRO can be a smart option for businesses that need high-level financial expertise but may not be prepared or have the budget to hire a full-time CRO. Fractional CRO services are particularly valuable for companies who need support during rapid growth, if they’re struggling to hit their revenue goals, or undergoing major change such as team restructuring or market expansion.
Business start-ups can especially benefit from the senior expertise of a fractional CRO, helping them develop sustainable and scalable revenue-generation processes without having to invest in a full-time hire.
What Are the Benefits of Hiring a Fractional CRO?
The flexibility of hiring a fractional CRO brings a range of cost and efficiency savings. Instead of paying for a full-time CRO working 40 hours a week, organizations can benefit from the same level of expertise on a part-time or project basis, making hires that align with their specific needs and budget. This arrangement is becoming increasingly appealing when hiring for senior roles like CROs, as organizations can more effectively manage their budgets and rely on fractional CRO services for specific projects, e.g. optimizing sales and marketing processes, identifying new market opportunities, or facilitating acquisitions.
Hiring a fractional CRO instead of a full-time CRO is also beneficial if an organization needs immediate support. The hiring process is typically much less time-consuming, with many fractional workers available on demand and ready to be hired immediately. Experienced fractional CROs usually come with years of experience in multiple industries and at various business stages, enabling them to quickly identify areas for improvement and implement data-driven strategies that add value where it’s needed most.
Interested in hiring fractional talent in other areas of your business? Start searching for a range of roles including CIOs, CFOs, Project Managers, and more.
What Skills Should a Fractional CRO Have?
A quality fractional CRO should be able to translate their expert financial acumen into operational strategies that are laser-focused on revenue growth. Typical fractional CRO responsibilities include:
- Aligning teams effectively: Evaluate revenue operations and align marketing, sales, and customer success processes/teams to ensure it’s primed for bringing in maximum revenue.
- Data analysis: Analyze data and forecasting trends in order to employ data-driven decisions
- Leadership & communication: Fractional CROs must work across the business to align departments more closely and ensure everyone is motivated to follow a unified revenue strategy.
- Sales & marketing optimization: These departments are crucial to revenue growth, so fractional CROs often focus on sales enablement, demand generation, and identifying areas for product/market expansion.
- Customer retention: Improving customer success and implementing strategies that drive customer loyalty to help boost long-term revenue.
- Change management: They need to quickly understand an organization’s unique challenges and drive change in a way that maintains morale while boosting productivity.
Ultimately, a fractional CRO should be able to align people, processes, and technology in a way that maximizes the revenue potential of a company for long-term success.
What Are Average Fractional CRO Rates?
Fractional CRO rates usually vary between €150-500 per hour depending on experience, industry, and the services required. Some may offer a fixed monthly retainer amount or per project, which may be preferred for organizations seeking long-term support.
Compared to a full-time CRO, working with a fractional CRO provides organizations with a greater degree of flexibility in negotiating the exact hours and services provided, often making it the more cost-effective option.
Hiring a Fractional CRO For Your Organization: Find Top Talent with 10x
10x is a members-only platform giving organizations access to a strictly-vetted database of elite fractional CROs and other fractional job roles. With a proven track record of connecting the top 1% of fractional talent with ambitious organizations across a range of industries, you can request access to the platform and we’ll work with you to find the perfect candidate.
FAQ
Can I Hire a Fractional CRO on an Hourly Basis?
Yes, many fractional CROs offer their services on an hourly basis. This can be a lot more cost-effective for companies, particularly if they only need support for specific projects.
How Can 10x Help Me Hire a Fractional CRO?
10x connects organizations of all shapes and sizes with the highest quality fractional CRO services on demand. As 10x is an invite-only platform, the first step is to request access. You will then be asked to answer a couple of questions to better assess your needs and goals. This input is vital in helping us to pair you with the most suitable 10x-er for your organization. Our experts thoroughly vet all 10x professionals before matching, making sure they have the right knowledge and experience to solve your challenges and add value from day one.
How Much Does a Fractional CRO Consultant Cost?
The costs of fractional CRO consultants can vary depending on the specific needs of your company, the duration of employment, and the fractional CRO’s level of experience. So the exact amount is calculated on a case-by-case basis. Request access to the 10x platform and we’ll work with you to find a solution that fits your specific needs.
What Are Some Tips for Hiring a Fractional CRO for My Business?
- Define your goals: Before you start the search, outline the specific challenges or objectives that you want a fractional CRO to support, e.g. expanding to new markets, improving customer retention, facilitating an acquisition, etc. This gives you a clearer idea of what background and skillsets you’re seeking so you can hire a professional with the right expertise for your needs.
- Background check: While top fractional CROs typically have a broad scope of knowledge and industry expertise, it’s important to find one who has a proven track record with organizations of your size and industry. A reference check or reviewing their past work is highly recommended.
- Effective communication: Fractional CROs often need to make tough decisions, align teams, and collaborate with a range of stakeholders. Strong communication skills are a must-have for any potential hire.
- Consider cultural fit: Finding a fractional CRO that aligns with the working culture and values of your organization helps ensure they seamlessly integrate into the organization while maintaining company morale among employees.
- Working arrangement: Consider the duration of employment and the expected working hours per week, as well as how much you’re willing to spend. These factors can vary widely, so having these details on paper will make it much easier to find a fractional CRO that fits your timeline and budget.
Would Startups Benefit from Hiring a Fractional CRO?
Hiring a fractional CRO can be a smart investment for startups, as they’re more likely to have limited budgets and challenges surrounding growth, scaling, and operational inefficiencies that a fractional CRO can help solve. Likewise, startups can really benefit from an experienced leader who can bring a fresh perspective and strategic insights that they’re often lacking due to inexperience.
From a cost perspective, startups are also more likely to have limited budgets and resources to justify a full-time CRO hire. Fractional CROs can be quickly brought in to pinpoint areas for improvement and ultimately improve a startup’s chances of long-term success.
Startups are typical clients of 10x’s fractional work platform, relying on fractional CRO services to build a strong foundation for sustainable revenue growth without having to commit to the long-term costs of a full-time CRO.
How Do I Find a Fractional CRO for My Business?
One of the most effective methods for hiring a top-quality fractional CRO is via dedicated fractional work platforms that have experience in connecting businesses with the right professionals. Leveraging these platforms gives you the best chance of hiring a candidate who has proven experience, aligned to your unique needs and goals.
10x’s invite-only platform has a highly-vetted database of 500+ fractional professionals on demand, including top fractional CROs. Request access to the platform today to start the hiring process for your business.