The cost of hiring a fractional marketer may vary greatly depending on your location, industry, desired skills and years of experience. However, hiring a fractional marketer has even been reported to save 30-40% over traditional hiring processes.
Fractional marketing can be an effective way to expand your business and save money, but the cost of hiring a fractional marketing team can still add up. The cost of your fractional marketer should include at least their salary, but depending on the specifics of your business, there are other costs that you may want to consider when calculating the total cost of hiring a fractional marketer. While this does increase the amount you’ll need to spend, it’s an investment that will pay off in spades down the road.
Why Isn’t Everyone Doing This?
Fractional marketing isn't a new concept by any means - but this working style has really taken off since the pandemic. Work is now flexible, and with both employers and employees looking to score the best possible deal for themselves, the fractional model is a perfect fit.
Many digital companies have expanded greatly by utilizing fractional marketing teams. Their teams are able to take advantage of larger market opportunities by hiring experienced workers on a per-task basis to complete business goals. To make it simple, employers give out contracts which can be fulfilled by different people at different times. Rather than hiring permanent employees who need training and benefits, you hire only as much help as needed for short-term tasks. While larger companies like these have huge advantages due to their scale and reach, the benefits of fractional work apply to smaller and medium sized companies as well.
How Much Does It Actually Cost?
The cost of hiring a fractional marketer may vary greatly depending on your location, industry, desired skills and years of experience. However, hiring a fractional marketer has been reported to save 30-40% over traditional hiring processes.
This is because fractional workers tend to charge rates in line with full time workers. But - fractional marketers do not require the add-on costs that are associated with traditional full-time employees. Fractional marketers do not require insurance, benefits, or technology stipends.
Here's What You Get for That Price
Fractional employees act as devoted members of your team, different than freelancers who may be working on dozens of projects at once. Fractional employees most commonly work in intervals of 3, 6, or 9 months for one company in particular. This means that you can trust them as a member of your team, and rely on them to deliver results. They provide the benefits of full time employees without the added costs. The employees are still independent contractors who handle their own insurance, benefits, equipment, etc. saving you money!
Summary
Fractional marketing is an option for businesses that want to enjoy the benefits of hiring an agency, but don't have the budget or simply are looking to innovate their hiring process. A fractional marketer can help you with anything from content creation to customer acquisition and everything in between. They'll work closely with your team to ensure that they're delivering on what's been promised. Read more on how to hire a fractional marketing team.