Definition
A part-time or contract Chief Marketing Officer who provides strategic marketing leadership without a full-time hire. Common for SMBs that need marketing direction but can't justify a $150K+ executive.
Why it matters
A fractional CMO fits the awkward middle where a business has enough marketing spend and activity to need real strategy, but not enough to justify a full-time executive salary. The value is senior judgment on where to spend and what to stop doing, so you're not guessing with your marketing budget. The limit to understand is that a fractional CMO directs the work rather than doing it; you still need people or services to execute the plan they set.