Benefits of Hiring Fractional
There’s no doubt that client account management is critical to your agency’s success. But in today’s economy, there’s also no doubt that many small businesses and agencies are also looking at ways to streamline and optimize, while also saving money. Enter fractional Client Account Management.
Fractional client account management is on the rise in marketing agencies, in large part because of the many benefits this new way of working presents. Digital marketing agencies can use fractional Account Managers to keep their costs in check—while still providing top-notch and reliable customer service to their clients.
Here’s what you need to know.
What is Fractional Account Management?
Most business owners are already familiar with the concept of fractional work. Rather than hiring full-time and/or permanent employees, many agencies are now hiring fractional workers, who work part-time or freelance (i.e.: project-by-project).
Beyond the many benefits of hiring fractional workers, this trend has also been driven by a number of other factors. The rise of the gig economy, advances in technology, and changes in the way we work have all been at play. It’s now quite common to see fractional workers in areas like graphic design, accounting, bookkeeping, and administrative support.
What many agency owners might not realize is that client management is also something they can outsource. Indeed, hiring a fractional Account Manger is one of the best ways to increase your profits this year.
So what does a fractional Client Account Manager (CAM) look like? Simple: DOT & Co. Account Managers look and function just like anyone else on your team, except they work fewer hours, and from home.
In fact, the ability of a fractional Account Manager to seamlessly integrate with your team is one of their biggest selling points. You get all that critical client account management that is so critical to referrals and long time agency success. And your clients won’t be able to tell the difference between their fractional CAM and any full-timers on your team.
And, bonus time: your fractional Account Manager will also come with the following benefits.
Hiring Fractional Benefit #1: Cost Savings
Big, big kudos to all you small business and agency owners out there. It’s always a lot of work to run your own company. Now add in global pandemics, global turmoil, and a shaky economy, and it’s easy to see why many agencies are looking for ways to save money, without sacrificing their products and services. Hiring fractional workers is one of the best ways to do this.
When you hire a full-time employee, you’re not just paying them a salary. You’re also responsible for providing a host of benefits, like health insurance, retirement plans, and paid time off. And of course, full-time in-office workers need a full-time office roof over their heads.
All of these extra costs can really add up quickly, especially for small agencies. But fractional workers are typically responsible for their own benefits, helping to save a significant amount of money. And if they work remotely, that saves you on real estate costs, too.
Hiring Fractional Benefit #2: Flexibility
Fractional workers also bring a lot more flexibility to the table.
Marketing agencies often have fluctuating workloads—you need to be able to scale up or down your staff quickly. Hiring fractional lets you do this without the added cost and commitment of hiring full-time employees.
This can be especially beneficial if you experience seasonal fluctuations in demand.
Hiring Fractional Benefit #3: Specialized Skills
Don’t think that just because you’re getting a part-timer, that that somehow means you’ll be getting subpar work. Au contraire! Indeed, going the fractional route can often be the simplest way to get the highly skilled workers you need on your team, whom you might otherwise struggle to afford.
For example, every single fractional Client Account Manager at DOT & Co. has been vetted carefully, and they also go through our comprehensive training for Account Managers.
In other words, you’ll still be getting the services of a highly skilled, highly trained, and highly professional full-time Account Manager. They just won’t be working 40 hours a week.*
*And not to worry: super efficient fractional Account Managers can get more done in 40 minutes than many can in a full day!
Hiring Fractional Benefit #4: Access to a Wider Talent Pool
We love having a remote team. It’s better for us, better for our people, and better for our clients (not to mention our bottom line). Plus, we love that working in this way gives us access to a wider talent pool.
When you only hire full-time, in-office employees, you’re limited to candidates who are looking for a full-time position in your specific location. Instead, by hiring fractional CAMs, you can tap into a global talent pool of any highly skilled professionals who are open to working on a part-time or project-by-project basis. This can be especially beneficial for businesses that are located in areas with a limited talent pool.
And take it from us: our remote team is super connected and productive, even though we don’t all live in the same city, timezone, or even country! Get our tips on how to manage a remote Account Manager here.
Hiring Fractional Benefit #5: Increased Productivity
When you hire full-time employees, you often feel pressured to keep them busy, even when there is no work available. This can lead to wasted time and decreased productivity. And that’s not to mention the morale hit for your team—no one likes busy work.
However, by hiring fractional Account Managers, agencies can ensure that they are only paying for work that is actually being done, which can lead to increased productivity and cost savings. It’s a win for everyone.
Hiring Fractional Benefit #6: Better Client Management
Marketing agency client management is make or break. Get it right, and your clients will keep coming back, and they’ll keep referring their friends to you, too. Get it wrong, and projects—and relationships—can go astray shockingly quickly.
That means that agency owners and/or random team members often get bogged down in account management. They’re spending all their time holding client hands and answering emails and onboarding new clients. The result is often that clients get haphazard service, while the owner can’t focus on what they do best (i.e.: growing the business!).
Meanwhile, hiring a fractional CAM can ensure that your clients always get white glove, hands-on service, every time they need it.
Hiring A Fractional Client Account Manager
DOT & Co. Account Managers are all fractional. Our standard packages are for 10, 15, or 20 hours per week, although we can also work with you on a custom plan. Our FAQs explain all the details, and please schedule an intro call to learn more!