Introduction
Whether you are a small business or nonprofit, there’s no debate: Effective communication—both internal and external—is critical not only to your success but your basic survival as a company. Whether you are an established company, a startup, or an organization looking to pivot, your communications strategy must be seamlessly effective and sustainable.
With more technology available than ever, you’d think it would be easy to communicate effectively.
However, recent research reveals that small businesses and nonprofits pay a steep price each year because of poor internal and external communication. For example, regarding internal communication, a 2022 study of American companies reveals that ineffective communication costs up to $1.2 trillion yearly in lost productivity. Similarly, regarding external communication, a 2023 study published by project.co reveals that 99% of customers say effective communication is important, while nearly 70% say poor communication has caused them to jump ship to a competitor.
What’s more, many small businesses and nonprofits equate communications with marketing. Yet, while communication has an outsized impact on marketing, it has equally significant application to other aspects of your organization—leadership, sales, products and services, and management and productivity. Further, marketing experts often are ineffective communicators, focusing almost exclusively on visuals, technologies, SEO optimization, and other factors.
So, businesses and nonprofits need to do better if they want to succeed. (If I keep doing what I’ve always done, I’ll keep getting “what I’ve always got.”) But when it comes to actually doing better, it’s far easier said than done.
That’s why it might be the right time for your small business or nonprofit to invest in a Fractional Chief Communications Officer (CCO).
What is a Fractional CCO (Chief Communications Officer)?
A Fractional Chief Communications Officer (CCO) is a seasoned communications leader who offers their expertise on a part-time or contract basis. This role differs from a full-time CCO in that it serves companies that don’t need a permanent communications executive but still require top-tier guidance. Fractional CCOs leverage their extensive experience to craft and execute communication strategies that support the company’s goals, providing the added benefit of flexibility to adjust their level of involvement as the company’s needs evolve. Small businesses and nonprofits that benefit the most from this arrangement are those experiencing stagnation, rapid expansion, leadership transition, or other unique communication challenges.
Why do I need a Fractional CCO when I already have a CMO or Marketing Director?
Although marketing and communications overlap, there is a significant difference between the two. Effective communication transcends the marketing division, having application to other significant aspects of your small business (leadership, sales, product optimization, management, productivity) or nonprofit (leadership, fundraising, program recruitment, service optimization, management, productivity). A Fractional CCO, therefore, will enhance not only your marketing but other vital aspects of your company as well.
How does a Fractional CCO differ from a full-time CCO?
A Fractional CCO provides the same expertise, strategic insight, and leadership as a full-time Chief Communications Officer but with the added advantage of part-time, flexible engagement. This approach enables companies to tap into high-caliber communication skills without the expense of a full-time salary, benefits, and related costs. Businesses can bring in a Fractional CCO for specific initiatives, during periods of organizational change, or when they need high-level communication strategies without committing to a permanent executive role. This setup is especially beneficial for small to mid-sized businesses or nonprofits that require expert advice but don’t have the budget or necessity for a full-time CCO.
When should I consider hiring a Fractional CCO?
A business should consider bringing on a Fractional CCO during pivotal moments in its growth when expert communication leadership is crucial, but a full-time executive position isn’t warranted. Such instances might include periods of stagnation, rapid expansion, or the launch of a new product or service. Additionally, it might include the CEO’s desire to become a “thought leader” by sharing your vision for the future in easy-to-grasp ways with customers or other stakeholders; a good Fractional CCO mind-melds with you to effectively communicate your point of view and raise your visibility among stakeholders. Thus, a Fractional CCO provides high-level strategic insights without long-term commitment, making it a smart choice for many organizations.
What are the key benefits of hiring a Fractional CCO?
Engaging a Fractional CCO offers multiple advantages, including access to experienced communication leadership and a fresh, external viewpoint, without a full-time executive's long-term commitment or expenses. This flexible arrangement allows businesses to adjust the CCO’s involvement according to their current needs, whether for a specific initiative or ongoing strategic support. A Fractional CCO is adept at quickly identifying and resolving communication issues, ensuring that messaging is clear, consistent, and aligned with the company’s overall business goals. Moreover, the cost-effectiveness of this approach makes it an appealing choice for companies seeking to elevate their communication strategies without the burden of full-time executive costs.
What qualifications should a Fractional CCO have?
A Fractional CCO should have extensive experience in senior communication roles and a solid history of aligning communication strategies with business objectives, enhancing brand visibility, and managing corporate reputation. Moreover, a Fractional CCO needs to be adaptable, quickly grasping the specifics of your company and industry to provide customized solutions. Essential qualifications include strong leadership skills, strategic thinking, interpersonal skills, and proficiency in navigating traditional and digital communication channels.
What are the typical responsibilities of a Fractional CCO?
A Fractional CCO is tasked with a broad range of communication initiatives, all focused on ensuring the company’s messaging aligns with its bottom-line priorities. Their role typically involves creating and implementing comprehensive communication strategies and managing corporate communications, and sometimes involves media relations and crisis communications. They work to ensure that all communication channels, both internal and external, consistently and effectively convey the company’s brand message. Additionally, a Fractional CCO often assists with executive communication, helping to shape key messages from the leadership team to stakeholders, employees, and the public. Their primary objective is to ensure that the company’s communications are strategically aligned, well-coordinated, and highly effective.
How does a Fractional CCO fit into my company’s existing structure?
A Fractional CCO integrates into your leadership team by offering strategic communication oversight and collaborating closely with other executives. They provide an external perspective that enhances the internal team’s work, ensuring that communication strategies are in sync with the company’s broader objectives. The best Fractional CCOs integrate smoothly into the organization, frequently participating in leadership meetings, contributing to strategic discussions, and providing insights that help advance the company’s goals. Their flexibility and ability to adapt to your company’s culture make them valuable to the leadership team, ensuring that all communication efforts are cohesive and aligned with the company’s overall objectives.
Will the hiring of a Fractional CCO bring a significant, tangible ROI?
The return on investment (ROI) from hiring a seasoned Fractional CCO is considerable, especially when factoring in the positive effects on your company’s brand reputation, stakeholder trust, and overall improvement of KPIs. Their involvement will catalyze an immediate, significant elevation of KPIs and foster stronger relationships with customers or other stakeholders. Furthermore, the strategic insights offered can uncover new growth opportunities and improve market positioning. Altogether, a Fractional CCO is a low-cost investment that could yield prodigious results for your small business or nonprofit, especially when you face challenges such as stagnation, rapid expansion, leadership transition, or other unique communication challenges.
If I have further questions, how can I find answers?
If you have further questions and are interested in a Fractional CCO or other communications services, contact The Ashford Agency today to schedule a free consultation.