More companies are using interim or fractional Chief Marketing Officers to grow their businesses while minimizing costs. The trend has become more popular during the pandemic due to the rise of remote work—and seems poised for even greater growth during a recession.

Why should we care?
The rise of fractional CMOs arguably brings the C-suite closer to a thought-provoking vision that has gained some traction over the past few years: automating the role of CEO. Executive wages can cost as much as those of thousands of entry-level workers, making staff reductions at that upper level a logical cost-cutting measure—though one that rarely materializes. Hiring CMOs on a part-time basis seems like a compromise between these two competing pressures: both minimizing costs while maintaining a semblance of business as usual in the corner office. Shernaz Daver, CMO at Khosla Ventures, thinks more CMOs will be fractional hires in the coming months. “It’s much easier to hire someone on a part-time basis in these uncertain times,” she said. But there’s little that suggests the buck stops at the marketing team: the trend could spread to other C-suite roles, too, especially if part-time CMOs frame the setup as a positive development. Leslie Campisi, who previously served as CMO at Anthemis Group, the fintech VC, jumped over to Morty Inc., the mortgage marketplace, as their part-time CMO. “When you’re on the outside, you have the ear of the founder or CEO in a way that you don’t when you’re in-house,” she said. “It’s easier, to be honest, and they are more receptive to tough feedback.” We may expect more cost-cutting companies to adopt this hiring strategy, and even experiment with converting other executive responsibilities into fractional roles.