Evolving Enterprise 2022 - Building the Marketing Function

TL;DR

Learn how to build and scale the marketing function in startups, including hiring strategies, budget allocation, measuring success, collaboration with other teams, and transitioning from early stages to late stages.

Transcript

hi everyone welcome super excited to have you all here um i'm bailey dickey i lead networks at ggv and i'm excited to welcome everyone to our sixth annual evolving enterprise and this year we're hosting a series of seven master classes on different top of mind topics for ceos and functional leaders and the series will run every wednesday from 1 to ... Read More

Key Insights

• 😤 Hiring the right marketing leader and building a diverse, multi-disciplinary team are crucial for success.
• ⚾ Marketing effectiveness should be measured based on a combination of activity-based, outcome-based, and pipeline-focused metrics.
• 😤 Collaboration with sales, customer success, and product teams is essential for a successful go-to-market motion.
• ❓ Brand marketing should not be overlooked, especially in the early stages, and should be measured by indicators such as share of voice and customer satisfaction.
• 💦 Building a connected and result-oriented culture in a remote or hybrid work environment requires transparency, trust, and effective communication.
• ⚾ When budget is limited, focus on investing in content creation, SEO, and digital marketing channels to drive brand awareness and customer engagement. Consider alternative platforms like review sites and community-based marketing.

Questions & Answers

Q: When should a founder hire their first marketing person, and should this person be a leader?

It is recommended to hire the first marketing person as early as possible, preferably a multi-disciplinary marketer who can contribute to go-to-market strategies. The first hire doesn't necessarily have to be a leader but should have the potential to scale into a leadership role.

Q: How do you measure marketing effectiveness and what metrics should be considered?

Measure marketing effectiveness by tracking metrics such as web traffic, social engagement, leads generated, and overall pipeline performance. However, it's important to consider that marketing is not just about leads and conversions but also about brand awareness and long-term impact.

Q: What should a founder look for in a company when considering a new marketing role?

Look for an awesome team with great leadership, a compelling product, and the opportunity to contribute and make an impact. The founder's vision, values, and culture fit are also important factors to consider.

Q: When transitioning from an early-stage marketing team to a later-stage team, what are the key things to focus on?

Focus on organizational design, ensuring the right individuals are in place, and building a scalable structure. As the company scales, consider hiring individuals with specialized skills in product marketing, content creation, and operations. Avoid hiring too many senior people and focus on career development for the team.

Summary & Key Takeaways

• Building the marketing team from the beginning is crucial, with a focus on hiring a multi-disciplinary marketer who can contribute to go-to-market strategies. It's important to hire the right marketing leader at the right time.

• As the company scales, it's essential to have a dedicated marketing leader who can work cross-functionally and report directly to the CEO. Marketing operations should be integrated within the marketing team to ensure alignment and effective execution.

• Allocating budget for marketing should be strategic, considering factors such as total addressable market, key metrics, and the need for both demand generation and brand building. Measuring marketing effectiveness requires a holistic approach, including pipeline development and brand awareness.