How to Build a High-Performing Marketing Stack for CMO Success
February 3, 2024
FRACTIONAL CMO: DALLAS, TX
In addition to established corporations, Dallas has become a breeding ground for startup unicorns, showcasing the city's fertile ground for innovation. Overall, Dallas's exploding tech, innovation, and business environment have propelled the city onto the global stage.
Lonestar
The Reigning Champion
Texas already has more Fortune 500 companies than any other state (53 to be exact), but the new companies keep rolling in. It’s an ongoing trend. According to the Texas Standard, “more than 100 companies have relocated to Texas” since 2020 and 40% of them are from California. Frankly, that number seems low. Buildremote.co published a recent article detailing companies that have moved to Texas 2020-2023. 88 of them are from California and 13 are from New York alone. 44 were from “other states.” The California Policy Center even wrote an article last summer (2023) titled “More Companies Flee to Texas.” The Dallas-Fort Worth Metroplex has often been the happy recipient of these relocations.
But Why?
Why? Companies and news outlets often cite lower taxes, the skilled workforce and a generally pro-business environment. Texas is often ranked as one of the best states for business in the country.
More Relocations
The Dallas-Forth Worth Metroplex has seen past headquarters moves by companies like Golden Living, Fluor, Comerica, and AT&T, as well as recent additions like Toyota, McKesson, NTT Data, Jacobs, and CBRE. Uber, which is based in San Francisco, has recently opened a regional hub with 3,000 employees, often referred to as “Uber’s second headquarters.” Indeed, the Dallas/Fort Worth Metroplex has one of the largest “headquarters” concentrations in the United States. In fact, North Texas surpassed New York City as the top spot for commercial real estate sales in the nation in 2021, which is amazing, given how much less costly things are in Texas. It also ranks number 1 for commercial real estate construction.
Fortune 500 in Texas (mostly Dallas)
Other Fortune 500 companies in the area include Halliburton, Oracle, Dell, Tesla, USAA, ConocoPhillips, Phillips 66, CenterPoint Energy, Kimberly-Clark, Caterpillar, ExxonMobil, Texas Instruments, Tenet Health, American Airlines, Westlake Capital, Waste Management, Hewlett Packard, EOG Resources, Targa, Sysco, Kinder Morgan, Yum!, Charles Schwab, Southwest Airlines, Valero, and Builders First Source.
Growth in Dallas: No Accident
Dallas has joined the federally-funded Smart Cities Initiative and adopted a “tech-first” strategy to further grow the region (as if it needed more help). This has led to the creation of the Smart Dallas vision, which seeks to foster a connected and efficient urban area.
The Dallas Entrepreneur Center (DEC) Network supports startups and businesses by providing funding, connections, workspaces, and more. The main office of DEC Network is in the Oak Cliff neighborhood of southwest Dallas.
The Dallas Regional Chamber of Commerce actively promotes innovation in the region by connecting entrepreneurs, innovators, researchers, and the business community. Additionally, B.U.I.L.D offers a comprehensive resource platform for entrepreneurs, freelancers, and creatives seeking support for their ventures, whether they are high-growth startups or community initiatives.
The annual Venture Dallas conference brings together innovators, business leaders, and investors from across the nation to explore Dallas-Fort Worth as a top-notch innovation hub. The conference provides insights into the region’s investment climate and opportunities for early and growth-stage startups.
Furthermore, Dallas Startup Week is a prominent event featuring a week-long series of panels, networking sessions, and work opportunities for entrepreneurs. It is free to attend. Which leads to my next point.
Exploding Startup Scene
The healthcare sector has seen significant growth in Dallas. HealthTech startups are becoming more and more influential. As an example, in November 2021, two out of the top four tech companies in Dallas-Fort Worth with the most funding were from the HealthTech sector. Clearly, healthcare is a leading force in Dallas’ technology advancement.
As mentioned above, IT companies such as Cisco, IBM, and Infosys have offices in the Dallas-Fort Worth Metroplex. These industry giants provide spaces for top professionals to explore new technologies and push the limits of IT. Their presence also means a strong supporting ecosystem with a deep workforce from which to draw.
Example startup unicorns from the Dallas area include o9 Solutions, Ltk, ShiftKey, and Interos. Other notable hot startups in Dallas driving the city’s startup scene include Novo Labs, Nada, EnergyBot, Gig Wage, Mobeo, IPwe, Hashing Systems, and Cooklist.
Dallas Fractional CMOs
While we don’t have any fractional CMOs in Dallas specifically, we do have quite a few in Texas. That said, since most fractional executives work remotely, finding an executive with domain knowledge is far more important. You can learn more about that in our article titled “Choosing a Fractional CMO Agency.”
FYI, our roster is expanding rapidly at a rate of about 5 superstars per week +/-. Availability changes constantly. Contact us and to explain your exact needs and we will research the best fit.
Ready to Book a Call?
Ready to talk about how a Fractional CMO can help your business? Click the button below and schedule a free strategy session.
CMOs with Domain Knowledge
What might make the most sense is to focus on choosing a fractional CMO based on their domain knowledge of your industry, rather than location. Our current roster includes heavy experience in B2C, B2B, D2C, SaaS, Fintech, AI, Retail, Cloud, e-Commerce, Entertainment, Construction, Manufacturing, Cyber Security, Food & Beverage and Real Estate.
Our fractional CMOs have achieved significant results.
Examples include a 7.5x increase in deal size and a 15%+ win rate increase in 6 months through customer segmentation in B2C/SaaS/Fintech space. Growth of leads by 20x and revenue by 10x in 18 months in B2B/SaaS/AI. In B2B/SaaS, one fractional CMO took three prominent startups to exit in 3 years or less. In D2C/Retail, one fractional CMO transitioned a 300-store company to D2C with 20-30% YoY growth and a 50% close rate. In D2C/Cloud/Fintech, grew a marketing department from $0 to a $45M annual budget and oversaw 4M outbound calls, 5K events, 156K service tickets, and 6M organic site visits. In B2C/Real Estate one fractional CMO launched a new division with a $2M marketing budget, selling over $500M annually in less than 4 years.
The list literally goes on and on.
Why Consider a Fractional CMO?
When it comes to harnessing the advantages of a fractional Chief Marketing Officer (CMO), the impact on business growth cannot be overstated. Opting for a fractional CMO who possesses true strategic leadership skills, rather than a mere marketing manager, can take you to the next level. Here are just a few of the reasons why engaging a fractional Chief Marketing Officer (CMO) can be a game-changer.
Focus on Your Core Business
Because you can’t keep wearing 17 hats and scale your business. So far you’ve been the lead strategist, but it’s time to bring in a specialist. By enlisting the services of a fractional Chief Marketing Officer (CMO), you can keep your focus where it belongs while entrusting marketing strategies and leadership to a seasoned professional.
A Holistic Marketing Strategy
Collaborating with a fractional Chief Marketing Officer (CMO) empowers you to craft a well-rounded marketing strategy aligned with your business objectives. Refine your buyer personas. Audit all your customer acquisition channels. Establish clear objectives and KPIs.
Optimize Resource Management
Leveraging fractional Chief Marketing Officer (CMO) services, you can optimize resource allocation and leverage the expertise of a fractional CMO without the need for a full-time executive. Create “Build Measure Learn” (BML) loops. Automate and monitor data. Systemize and automate processes.
World Class Industry Expertise
Fractional Chief Marketing Officers (CMOs) bring valuable industry expertise and a fresh perspective to your organization. Their deep understanding of market trends and connections with specialists can uncover untapped opportunities, driving business growth. Without a full-time hire.
Hire Your Marketing Team
Fractional Chief Marketing Officers (CMOs) contribute to recruiting top marketing talent by providing guidance on job descriptions, interview processes, and talent retention strategies. Their experience ensures you attract and retain skilled professionals to strengthen your marketing team.
For a full outline of benefits, see our article titled “What is a Fractional CMO?” For a full outline of services, you should see our article titled “Fractional CMO Services.”
What is a Good Fractional CMO Hourly Rate?
First you should know that most Fractional CMOs are hired on a project basis with a flat rate for a Scope of Work (SOW) that outlines a specific set of deliverables. However, they are also sometimes hired on an hourly, daily, or project basis to take on marketing initiatives that would otherwise be difficult to manage without a dedicated marketing executive. We’ve been seeing rates fall between $150 – $300 /hr. The cost of hiring a fractional CMO can vary wildly. It all depends upon the experience of the CMO, the Scope of Work, and the length of the engagement.
Also please see our article “What is a Good Fractional CMO Hourly Rate” or see our Pricing Page.
Ready to Book a Call?
Ready to talk about how a Fractional CMO can help your business? Click the button below and schedule a free strategy session.
Author Bio
Benjamin Arritt
Global B2B sales & marketing executive that loves a fast-paced, customer-centric, high tech entrepreneurial environment. We help 50+ fractional CFOs and 93+ fractional CMOs find more work. Hire someone who has already done what you are trying to do. Follow me on X: @grokketship
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Fractional marketing involves hiring fractional marketers, or part-time marketing professionals. This way businesses can leverage specialized expertise while reducing the costs associated with a full-time