What is the hardest role to hire for at the C-level?
Speaker:Many CEOs will say the hardest role by far to fill is the CMO role.
Speaker:You probably have seen this through experience yourself.
Speaker:Knowledge of marketing can be quite scant at the C-level.
Speaker:And, of course, everyone has an opinion on marketing, which means
Speaker:that there are often a lot of cooks in the kitchen for a CMO search.
Speaker:The CMO role is also very high stakes because companies are
Speaker:often looking to marketing as the foundation for their growth story.
Speaker:So it's hard for non-marketers to know what good looks
Speaker:like in a marketing leader.
Speaker:And all of this can create this stew of uncertainty, which can make searches
Speaker:for CMOs much more fraught than others.
Speaker:Hello, and welcome to The Get.
Speaker:I'm your host, Erica Seidel.
Speaker:This season, we focus on the race to reduce risk when it comes to a
Speaker:match between a company and a CMO.
Speaker:How can you find out what you need to find out before saying yes, so
Speaker:that you make a match that sticks?
Speaker:Today, we'll look at the risks that CEOs and investors feel they are
Speaker:taking when they recruit a CMO.
Speaker:What are they afraid of?
Speaker:Are those fears warranted?
Speaker:And on the flip side, how can CMO candidates anticipate those fears
Speaker:and maybe even quiet them to help both sides get to a good match?
Speaker:Today, we'll talk about all of this with Peter Mahoney.
Speaker:Peter is currently the Chief Commercial Officer for GoTo, the Unified
Speaker:Business Communications Company.
Speaker:Previously, Peter rose up to the ranks of CMO and GM at Nuance Communications, and
Speaker:then became a startup CEO for a marketing optimization platform called Plannuh.
Speaker:I love that name.
Speaker:He sold that business, then wanted another CMO gig, which is very interesting, so
Speaker:got back into the CMO fray with GoTo.
Speaker:He then got promoted recently to Chief Commercial Officer.
Speaker:So he has this great range of perspectives to bring to bear and
Speaker:you're going to learn a ton from him.
Speaker:Let's go.
Speaker:Peter, welcome to the show.
Speaker:Hey, thanks very much for having me, Erica.
Speaker:It's a thrill to be here.
Speaker:Great.
Speaker:So now you are Chief Commercial Officer.
Speaker:Two sub questions for that.
Speaker:Wondering what the distinction is between Chief Commercial
Speaker:Officer and Chief Revenue Officer?
Speaker:Maybe it's the same thing.
Speaker:Secondly, I know you have marketing reporting to you.
Speaker:So obviously very hot topic these days.
Speaker:Curious about pros and cons of that structure versus marketing
Speaker:reporting to the CEO directly?
Speaker:Let me try to take the first one first, Erica.
Speaker:The title is one that I had about an hour to come up with a thing because we were
Speaker:making some changes at the company and we decided it was the right thing to combine
Speaker:the sales and marketing organization.
Speaker:And I thought, do I want to be a Chief Revenue Officer?
Speaker:I don't know.
Speaker:I don't know what that means.
Speaker:It felt like it was a little bit of a loaded term.
Speaker:I felt like it was a funny message to give marketers because it's
Speaker:not only about revenue, although revenue is pretty important.
Speaker:So I looked around, I did a couple of Google searches, and
Speaker:I came up with something that I thought was maybe a compromise.
Speaker:I have no idea if it's a good idea or not, but that's what I call it now.
Speaker:It really is the combination of sales and marketing.
Speaker:In some cases, it's a good idea - to get into the second part of your question.
Speaker:I think in some cases, it's a good idea.
Speaker:Some cases it's not a good idea, and it's driven by a couple of things.
Speaker:Some is the background and the complexion of the overall management
Speaker:team and of that leader in particular.
Speaker:But I think even more importantly is the kind of business that you're in.
Speaker:The business that I'm supporting right now, GoTo, is a business
Speaker:that is largely transactional.
Speaker:We sell from everyone from prosumers all the way up to large businesses.
Speaker:But the vast weight of our business is actually pretty transactional, which
Speaker:means that it's this really tight collaboration between sales and marketing.
Speaker:And therefore it makes a lot of sense to be able to optimize across
Speaker:those functions pretty clearly.
Speaker:Mm hmm.
Speaker:Any concern with hiring people on the marketing team, knowing that they
Speaker:are reporting into a Chief Commercial Officer, or is it too soon for data?
Speaker:No, so in fact, I just hired a VP of Corporate Marketing - who's amazing,
Speaker:by the way - and in the middle of the recruiting process, I had to tell her
Speaker:what was going on that, oh, by the way I'm going to be taking on this broader role.
Speaker:She was totally fine with it.
Speaker:And it probably was okay for her because we started the conversation
Speaker:when I was the Chief Marketing Officer.
Speaker:It felt like a natural progression along the way.
Speaker:And yeah, I think we'll see.
Speaker:There probably are some people who might give it pause a little bit,
Speaker:especially if they don't know me.
Speaker:I think a lot of people who know me, know me as someone who I literally
Speaker:call myself a marketing nerd.
Speaker:I'm pretty into the marketing side of the world.
Speaker:I wrote a book about it, as you may know, called The Next CMO.
Speaker:Hold on, I have props.
Speaker:For those of you who are watching this on
Speaker:Yay!
Speaker:you see a handy picture of The Next CMO.
Speaker:So for that, I think that might make people a little bit more comfortable,
Speaker:but I think some people have the perspective of, hey, I'm working for a
Speaker:sales guy, and they're not really going to respect or understand marketing.
Speaker:But I think people who know me understand that I certainly respect
Speaker:and understand the marketing function.
Speaker:Yeah.
Speaker:That does seem to be a bit of a trend of marketing leaders becoming
Speaker:Chief Commercial or Chief Revenue Officers or Chief Growth Officers.
Speaker:Those are the three ones that you might find in a Google search.
Speaker:I think you're right.
Speaker:Other than maybe the salespeople can get concerned, not with somebody like
Speaker:you, but with somebody who's only been in a marketing function, that
Speaker:could be their concern in a structure where a CMO becomes a CRO or a CCO.
Speaker:You can almost say that about any function.
Speaker:The reality is people want to know that their boss appreciates
Speaker:what they're doing at some level.
Speaker:Although, it's interesting because I've heard two different points of view
Speaker:about the CEO understanding marketing or not understanding marketing.
Speaker:Sometimes it's a good thing if they understand marketing, but sometimes I've
Speaker:heard people say, eh, it can actually be a bad thing if they're too much
Speaker:because they get too invested in it.
Speaker:They don't just let me do my thing.
Speaker:It can be a little bit of a double-edged sword.
Speaker:But in general, you want people to have an appreciation, some level of respect,
Speaker:some level of understanding for the role that you have in your organization.
Speaker:Let's talk about the fears that CEOs and investors have, based on your experience,
Speaker:like when they're hiring a CMO.
Speaker:So what are those big fears, first of all?
Speaker:Fundamentally, it's about risk and the unknown.
Speaker:It's funny, you and I were talking about this a little bit, Erica.
Speaker:It's a funny thing where everyone thinks they understand marketing, and everyone
Speaker:fears that they don't understand it.
Speaker:It's one of those things that is complicated, it's hard to really,
Speaker:truly understand what's going on.
Speaker:And you're often hiring a marketing leader because you've got a problem.
Speaker:So that's often the issue.
Speaker:It's not always.
Speaker:There are lots of cases where, hey, someone just moves on because they got
Speaker:another role, and there's an opening.
Speaker:But a lot of senior roles happen because there's an issue.
Speaker:Because you're not growing enough.
Speaker:You don't have enough visibility.
Speaker:Whatever the issue is that you have.
Speaker:That issue tends to be one that's, for this kind of a role, pretty profound.
Speaker:Which means that it's a very high stake kind of thing.
Speaker:I think that's where the fear comes from.
Speaker:People say that, wow, this is a really big, important
Speaker:decision for this kind of role.
Speaker:I don't really understand what it's going to take.
Speaker:So in the sales role, as an example, for some reason, I think people assume, hey,
Speaker:this person was a great sales executive and they drove growth in the business.
Speaker:They must be able to do it at this other place.
Speaker:And the reality is that, as you know, every company is different,
Speaker:every situation is different, every industry is different.
Speaker:Just because an executive was successful in one area, it doesn't mean they're
Speaker:going to be successful in another.
Speaker:Just because an executive had an unsuccessful outing, it
Speaker:doesn't mean they're not going to be successful somewhere else.
Speaker:But people tend to ascribe a little bit more predictability to the sales
Speaker:function because they don't fully understand marketing and the way that
Speaker:it works and what goes behind it.
Speaker:So I think that's fundamentally the fear that's underneath it.
Speaker:Yeah.
Speaker:So they're kind of afraid, like they have opinions on it, but they know they
Speaker:don't understand it so fully and they might not trust the kind of applicability
Speaker:of one experience to another.
Speaker:Is there any, like, afraid that a marketing person is slick and snazzy and
Speaker:is gonna, I don't know, pull the wool over the eyes of others on the team?
Speaker:Yeah, maybe that's why I've done so well in this environment.
Speaker:No one has ever accused me of being slick and snazzy.
Speaker:I think that is some of it.
Speaker:I think there's a fear that, hey, this is a smooth talker.
Speaker:They're going to be able to tell me what they think they want me to hear.
Speaker:Do I really trust what's going on?
Speaker:I think that may be some of it.
Speaker:You could say the same for sales professionals, as an example.
Speaker:That may be where some of it comes in.
Speaker:I think the big fear that people have, fundamentally,
Speaker:is that it's a big investment.
Speaker:They don't want to make the wrong decision.
Speaker:In a lot of cases, they're worried that, hey, this person is going to
Speaker:need like massive sums of money to do things, especially if they're
Speaker:talking about moving the needle.
Speaker:They come in and say they can do it with a modest approach, but there's often this
Speaker:fear that, hey, they're going to come in, they're going to peel back the onion a
Speaker:little bit and realize that, oh my god, there's more work to be done here, and
Speaker:it's going to cost me, eight, nine figures to get out of this thing in one piece.
Speaker:So that's probably the big issue you get when you're, if you're a board
Speaker:member or a CEO interviewing a CMO saying, is it really, am I really
Speaker:going to be able to get the results without spending ridiculous sums of
Speaker:Got it.
Speaker:Any other fears that you've seen, just to lay them all out?
Speaker:Those are, I think, key ones.
Speaker:Yeah.
Speaker:I think the biggest ones, as I said, it's whether they understand what's going on.
Speaker:Is this person really credible?
Speaker:Can they understand what it is that the issue is?
Speaker:And is it going to cost me more than I expect?
Speaker:I think those are the primary things that people worry about.
Speaker:I'm wondering, as a company is hiring a CMO, to what extent does the
Speaker:complexion of the rest of the executive leadership team govern what type of
Speaker:marketing leader the company needs?
Speaker:You started alluding to this earlier with the whole marketing
Speaker:and sales under one function.
Speaker:'Cause in my search work, it's often okay, do you want the person who's gonna
Speaker:stretch into the role, or who might be stepping up into the role, or the
Speaker:person who's gonna stoop into the role.
Speaker:They could have a much bigger role, but they're gonna start it
Speaker:in an earlier phase in the journey.
Speaker:Sometimes in a search, you go back and forth, okay, what
Speaker:type is the right profile?
Speaker:And so thinking about the rest of the ELT and how the right CMO can
Speaker:fit into that how to think about how to fit a CMO into that structure.
Speaker:It's funny, it reminds me, Erica, that first of all,
Speaker:everyone wants the perfect fit.
Speaker:Everyone wants Goldilocks and you probably hear all the time, people coming to
Speaker:you and say, Erica just find me someone who's got twenty years of experience in
Speaker:generative AI, or something like that.
Speaker:They ask for the impossible, and then what happens is, if you come
Speaker:in too experienced, they say, well, what's wrong with them?
Speaker:Because why do they want this job?
Speaker:Or if you're not experienced enough, they say, oh, this is a big stretch.
Speaker:They're not really proven.
Speaker:I know I've done a lot of hiring like this too, and it's hard, right?
Speaker:Because you always struggle with those things.
Speaker:To the point you made before that we were talking about, in the setup
Speaker:of the rest of the ELT, I think it's important to understand what the
Speaker:strengths and weaknesses are of the ELT.
Speaker:What's the culture of the ELT?
Speaker:How do they work together?
Speaker:Then, fundamentally, it can be okay to give someone a stretch opportunity,
Speaker:but you don't want everyone in the ELT to be stretching for their role.
Speaker:Because in some cases it's great to have people in your organization
Speaker:at all levels who are in the biggest job of their career.
Speaker:But not everybody can be in the biggest job of their career because then there's
Speaker:just too much risk in doing that.
Speaker:You have to find a blend of experience and upward mobility and new ideas.
Speaker:You need diversity in your organization in every way that
Speaker:the word diversity can be applied.
Speaker:And you really need a broad mix of experience and capabilities
Speaker:to make sure that it works.
Speaker:Then culturally, you have to get what is, for a CMO, as an example,
Speaker:what do you expect marketing to be and do in your company?
Speaker:What's the role of the marketing function?
Speaker:In some organizations, it's less important.
Speaker:You need to understand that and communicate that to the marketing
Speaker:executive you're trying to hear, that you're trying to hire.
Speaker:In other cases, it's the most important thing in the world.
Speaker:So you have to understand the relative role of marketing, what the role of
Speaker:that executive is, what the experience base of that executive is, et cetera,
Speaker:to make sure you have the right fit.
Speaker:Yeah, and it's funny you talk about that unicorn.
Speaker:Oh, the person has to be just, not too much experience, not
Speaker:too little, not too much.
Speaker:It's very Goldilocks-y, and I always tell people, go for the eighty percent fit
Speaker:because if you're going for the hundred percent fit, A, it's going to take a while
Speaker:to get there, and B, once that person is in place, you're going to realize
Speaker:that they're an eighty percent fit.
Speaker:Because you're going to get to know them and realize everybody has
Speaker:their kind of soft spots and things.
Speaker:It's very much like getting married, right?
Speaker:There are some things you're going to fight about over the course of your
Speaker:marriage that can just make it like where an eighty percent fit is - I
Speaker:don't want to say good enough, but like as good as it gets in many cases.
Speaker:And it's the same with jobs, I think.
Speaker:Anyway, let's talk about stage experience.
Speaker:So you've done different kinds of smaller companies, bigger
Speaker:companies, this nice range.
Speaker:One thing that I see, and I'm sure you've seen this too, that stage experience
Speaker:that's relevant to a company's journey, like, is a really important thing.
Speaker:You know, oh, we're twenty million, we want to scale-up to a hundred million.
Speaker:We're five hundred million, we want to get to a billion or what have you.
Speaker:But of course, not every five hundred million company is the same.
Speaker:Just because somebody's done it in one context, like you said before, they might
Speaker:not be able to do that in another context.
Speaker:Are we thinking too literally?
Speaker:About stage experience and specific scale-up experience
Speaker:when we hire, in your view?
Speaker:I think there's a lot to be said for different stages
Speaker:because the job's fundamentally different in different stages.
Speaker:You made a really good point, Erica, that sometimes it's not exactly the number,
Speaker:but it's where the company is in its degree of complexity, as an example.
Speaker:So I tend to like to work at companies that are of reasonable scale for
Speaker:a bunch of different reasons.
Speaker:The biggest one that I like about being at the billion dollar plus scale, where
Speaker:GoTo is, where I spent a long time as the CMO of Nuance, as an example, is that
Speaker:frankly, I don't have to be very smart.
Speaker:The good news is that because literally you can hire really world leading experts
Speaker:in their functional domain of marketing.
Speaker:Because you can afford to bring them in because you've got
Speaker:a fairly large organization.
Speaker:They have a meaty role that gets very specific, and each functional
Speaker:area within marketing can be really detailed and specific and you
Speaker:can bring in all these experts.
Speaker:So it's a very different kind of role in a lot of cases because
Speaker:it makes sense when you reach a certain scale to be able to do that.
Speaker:Now, in other cases, you may decide that, hey, I don't want
Speaker:to buy that kind of expertise.
Speaker:I want to rent it.
Speaker:So if you're an early stage, you bring in a consultant to do certain things.
Speaker:In fact, I use consultants today, even at a billion dollar company.
Speaker:Because there's some areas where I don't want to own that particular
Speaker:kind of expertise, but I need to rent it every once in a while
Speaker:because it's important to have.
Speaker:So at that scale, that's where a large scale experience is useful.
Speaker:One, I like it, but why is it different?
Speaker:Why is it hard?
Speaker:Actually, don't tell anyone, but I think anyone can do this job.
Speaker:If you're a smart and organized person who's good at the numbers,
Speaker:then anyone can do my job, frankly.
Speaker:You're given a chance to do this job if you've proven to be able to operate
Speaker:in the level of complexity and deal with a lot of big hairy issues that
Speaker:are happening all at the same time.
Speaker:Because that happens in any kind of environment.
Speaker:You don't get flustered.
Speaker:That's the most important thing, right?
Speaker:You can keep your heading.
Speaker:Keep on going.
Speaker:Keep on delivering while you're dealing with any number of major
Speaker:crises going on at any given time.
Speaker:Because in a big enough company, you're constantly going to have issues.
Speaker:Now, in a smaller company, if you're on the complete other side, if you're
Speaker:in a five, ten million dollar company, as an example, you need to be an
Speaker:expert at rapidly testing and trying to understand and find that magic for the
Speaker:way that growth happens in your company.
Speaker:So it means you need to be really good at spinning up and trying new things.
Speaker:You can do it really light and simply, and then you need to quickly
Speaker:assess whether it's working or not, and then lock in on the particular
Speaker:areas that make a lot of sense.
Speaker:You also need to be deep enough in each of the domains so you can kind
Speaker:of roll up your sleeves and figure out each individual domain to understand
Speaker:whether it's hiring a specific person who's a digital marketing expert or
Speaker:a messaging expert, or diagnosing and helping someone who's more junior, who's
Speaker:going to need more hands on experience.
Speaker:That's the way that I think about it.
Speaker:They're both fun jobs.
Speaker:I've operated at everywhere from zero revenue up to
Speaker:billions of dollars of revenue.
Speaker:They're different jobs.
Speaker:I think they're all fun, but they are very different experiences you
Speaker:go throughout those different stages.
Speaker:The biggest factors are not specifically the number of
Speaker:revenue that you're dealing with.
Speaker:It's often the kind of complexity that you're dealing with, the kind
Speaker:of expertise that you need to have to engage with the people you're
Speaker:working with on a day-to-day basis.
Speaker:Do you have senior managers who can actually understand all the detail?
Speaker:Or do you need to go into that practitioner level and be able to
Speaker:really understand what each person is doing on a detailed day-to-day basis?
Speaker:That's most of the difference for me.
Speaker:Yeah, that's well articulated.
Speaker:Thank you.
Speaker:It's funny because something I talk about in my searches is, okay, so you're five
Speaker:hundred million, but maybe your marketing function is a little more similar
Speaker:to a hundred-million-dollar company.
Speaker:And maybe it's a little more similar to a billion-dollar company.
Speaker:But you have to understand the relative maturity of marketing in comparison
Speaker:to the rest of the organization.
Speaker:And if it is a little less mature, you're right, you have
Speaker:to lean in and maybe coach more.
Speaker:I'm curious to hear your take on this, but today I've been talking to more CMOs
Speaker:who say, Oh, I have to get into the weeds a little bit more with my team because my
Speaker:budget has to be stretched more thinly, and ergo, I'm hiring more junior people,
Speaker:and so I have to teach them a little bit more than I would have if I had the
Speaker:budget to hire somebody a click or two up.
Speaker:Have you seen that?
Speaker:Well, I've seen elements of that.
Speaker:First of all, I've been doing this for, I don't know, thirty-seven
Speaker:years now or something like that.
Speaker:So everyone always says it's like an unprecedented time with
Speaker:budget restrictions and - come on.
Speaker:It's always going to be a challenge.
Speaker:Budget is always going to be an issue.
Speaker:So there's nothing that new about this.
Speaker:There are, you've been around for a moment or two, Erica, you know that
Speaker:there are cycles that we go through in every environment, in every economy.
Speaker:You just have to be flexible like that.
Speaker:The thing that is different about marketing that may be driving some of
Speaker:this is that it's becoming very, very technical and very, very detailed in the
Speaker:way things have to happen in marketing.
Speaker:So if you think back fifty years ago, marketing was a lot of advertising
Speaker:and it was PR, and maybe it was some events and things like that.
Speaker:But it's a very technical and analytical role in a lot of ways these days.
Speaker:That may be what some of the people are talking about.
Speaker:You definitely need to understand, and as I was saying before, with
Speaker:somewhat tongue in cheek, the idea that you don't really have to know
Speaker:anything with a more senior team.
Speaker:The reality is that you have to be able to dive down to the appropriate
Speaker:level of detail for understanding.
Speaker:When I just took over this go-to-market organization, there was a lot of questions
Speaker:about, well, what's he going to be like?
Speaker:How is he going to be as a leader?
Speaker:And I spent a lot of time telling people that I like as a leader myself,
Speaker:I like to start by understanding.
Speaker:I like to dive into a lot of detail to understand what's going on.
Speaker:So I'm going to ask a lot of questions.
Speaker:I'm going to really try to understand, maybe peel back the onion, push on you
Speaker:a little bit to really understand what's going on within your particular domain.
Speaker:And then I'm going to back off.
Speaker:Ideally, I want to get to the point where I give you a set of guardrails,
Speaker:give you a goal, say this is what I want you to achieve for your particular area,
Speaker:give you some guardrails, and those guardrails are things like these are the
Speaker:behaviors that we accept, and this is the way that we operate as a company,
Speaker:this is how you need to communicate, etc.
Speaker:But it's really important to be able to have that beginning part, be able
Speaker:to really dive down and understand the specific domain, and that's one
Speaker:of the things that I find some of the most effective executives can do.
Speaker:Even if they're not an engineering leader, as an example, you should absolutely
Speaker:be able to ask provocative questions that are at least logical questions.
Speaker:It doesn't have to be about a specific line of code.
Speaker:You should be able to understand and question people to the level
Speaker:that you understand what their level of understanding is, how confident
Speaker:they are, and whether they really have a plan to achieve what they're
Speaker:saying they're trying to achieve.
Speaker:I don't think that's particularly new either, but the complexity of marketing
Speaker:these days, I think that is getting more and more complex over the years.
Speaker:So I can see where people would feel the difference over time as it's
Speaker:getting a little bit more technical and
Speaker:That's great.
Speaker:I like that framing of how you're coaching people, and it sounds like
Speaker:almost half is more behavioral?
Speaker:And you can get to the right result by setting up the right cultural, behavioral
Speaker:mores for the people on the team.
Speaker:That's interesting.
Speaker:Well, it's funny, the other way to think about that - by the way, I tell people
Speaker:all the time, it's the difference between a goal and a strategy . A goal may be, I
Speaker:want to get to the top of the mountain.
Speaker:You can employ different strategies to get to the top of the mountain.
Speaker:A strategy, basically, it's your general approach on how you're
Speaker:going to achieve the goal.
Speaker:One strategy to get to the top of the mountain may be
Speaker:to climb up the steep face.
Speaker:Another strategy might be going around the long path around the back.
Speaker:And why is this strategy important?
Speaker:Why is it important to get aligned around this strategy?
Speaker:Because you need different tools to get there.
Speaker:If you're climbing up the steep face of the mountain, you need
Speaker:those clippy things and you need ropes and a good insurance policy.
Speaker:If you're going around the long path around the back, you need comfy shoes
Speaker:and plenty of water, [Erica laughs] and maybe some sunscreen, right?
Speaker:So understanding the strategy and getting aligned around the strategy
Speaker:and how you're going to achieve those goals is incredibly important.
Speaker:That's one thing that a lot of leaders miss.
Speaker:They say, those are the goals, go do it.
Speaker:But you really need to align behind those strategies at the same time.
Speaker:Mm mm.
Speaker:I would love to pivot.
Speaker:We talked a little bit about the risks that companies take when hiring CMOs.
Speaker:Would love to pivot more specifically to the CMO candidate side of things.
Speaker:If you think about these risks that we've talked about, oh, you're
Speaker:going to spend a lot of money.
Speaker:Oh, you're going to maybe be the wrong fit.
Speaker:Oh, all of these things.
Speaker:How can CMO candidates quiet the concerns or address, that might be a better way
Speaker:to put it, address and allay the concerns that CEOs and investors have when CMO
Speaker:candidate finds himself in the middle of a search where people are like, oh my
Speaker:god, we're afraid you're going to be X.
Speaker:One is you want to be as transparent and clear with the people you're communicating
Speaker:to about, not only the results that you might have achieved, but how specifically
Speaker:you've achieved those results.
Speaker:An important factor here, by the way, is that it actually has
Speaker:to be truthful and meaningful.
Speaker:You'd be surprised how many people - you wouldn't be surprised, you've been
Speaker:around this world a lot - how many people just really exaggerate a lot of things.
Speaker:The reality is people can tell when you exaggerate your impact because
Speaker:you can't really describe what you personally did to drive that outcome.
Speaker:So I think communicating at the right level of specificity is incredibly
Speaker:important to help people understand, walk them through the logic path that
Speaker:you went through to achieve what you did.
Speaker:I'll tell you one of my favorite interview questions that I ask almost everybody.
Speaker:I hope nobody's listening who's going to interview with me sometime because
Speaker:it's supposed to be a surprise.
Speaker:I always ask them, I say, tell me about a time when you convinced
Speaker:a company to make a major change.
Speaker:I find that really helpful to have people walk through how they got a
Speaker:company to do something different that they weren't doing before.
Speaker:It does a couple of things.
Speaker:One, it shows how people research and think about a problem and identify
Speaker:a problem in an organization.
Speaker:Two, it helps you figure out how they actually built up their case.
Speaker:What was the logic chain that they used to actually build that logical case, or
Speaker:a financial case if that's necessary too?
Speaker:How do they communicate that?
Speaker:Then how do they actually deliver the change across an organization?
Speaker:Because one of the most important things that any executive can do is actually
Speaker:drive change in an organization.
Speaker:So that's why I like to ask that kind of thing.
Speaker:And if someone can explain that, how you've driven change in an
Speaker:organization, you allay a lot of those fears because it's a shortcut
Speaker:to tell whether someone is effective.
Speaker:I think that's fundamentally what people are looking at when they
Speaker:are unsure about hiring someone.
Speaker:It's effectiveness.
Speaker:That idea of being able to reliably and predictably deliver the results they said
Speaker:they were going to be able to deliver versus waving their arms and saying,
Speaker:yeah, we should do something better.
Speaker:We should grow more.
Speaker:Effectiveness is really important to understand.
Speaker:Yeah.
Speaker:Yeah.
Speaker:That's interesting.
Speaker:So I feel like there's three T's right.
Speaker:Being transparent, being truthful, and meaningful, that's not a T, and then
Speaker:the third one is transformation IQ, maybe that's a way to think about it.
Speaker:Just practically in an interview, it feels like you could spend half an hour on just
Speaker:that kind of approach to change-making.
Speaker:Is that what you do?
Speaker:Or is it like, a five-minute
Speaker:- If it's a short conversation, then I find out a lot.
Speaker:[Erica laughs] Seriously.
Speaker:You should be able to spend an hour talking about that.
Speaker:So you often do have to cut people off, that's enough, right?
Speaker:Can we summarize?
Speaker:The point is, you will understand very quickly how people really had an impact
Speaker:on driving change in an organization when they describe to you how they did it.
Speaker:And if they can't do that, then you'll learn a lot.
Speaker:The way they communicate, the way they get excited about it or not.
Speaker:So that tells me a lot.
Speaker:Is it, "Oh, my god, that was terrible.
Speaker:Yeah, I can tell you."
Speaker:Or do they have a spring in their step when they're communicating?
Speaker:You just learn a ton about people when you ask them that kind of question.
Speaker:I like that.
Speaker:Thank you for sharing.
Speaker:That's a question I always ask everybody on the podcast is, you know, what
Speaker:is your favorite interview question?
Speaker:So that's great.
Speaker:Final question for you, because I know we're running out of time
Speaker:. Given the current climate, what's the advice that you would give your pre-CMO
Speaker:self, if you look back, as relates to reducing risk in hiring and getting hired?
Speaker:Or advice in general for the pre-CMO Peter?
Speaker:I'd say there are a few things that were helpful for me.
Speaker:Let me put it that way, if that's useful.
Speaker:One is I think it's really helpful that you have some diversity in experience.
Speaker:What I mean by that is that it's useful that you spend
Speaker:some time outside of marketing.
Speaker:Sometimes that's hard for people who are in a role where they feel
Speaker:like, I just want to keep going up.
Speaker:Sometimes you need to go sideways to go up.
Speaker:Sometimes you need to go back to go up.
Speaker:So, I took a role, as an example, I was the head of corporate
Speaker:marketing, for some reason.
Speaker:I'm not a corporate marketing guy, but they gave me the job.
Speaker:I was the head of corporate marketing for a public company.
Speaker:And I decided, because I was a lover of product, I actually have degrees
Speaker:in physics and computer science, but I've never been paid to write a
Speaker:line of code, which is pretty sad.
Speaker:I really wanted to get closer to product, and what I decided to do is
Speaker:I had a big group of people running this corporate marketing function,
Speaker:and I took a job as an individual contributor as a product manager.
Speaker:It was a really important time in my career because it teed me up
Speaker:to understand the way the product development process worked.
Speaker:It made me build business plans that were implemented, and it gave me a ton
Speaker:of experience that was really useful when I wanted to do things like be a GM
Speaker:and that GM experience was important.
Speaker:It highlights the second area.
Speaker:It's critically important to understand the financials of the business.
Speaker:By the way, if you can understand eighth grade math, you can
Speaker:understand the financials.
Speaker:This is not high math.
Speaker:Literally, it's addition and subtraction.
Speaker:But it's really important to understand what the financial workings are of
Speaker:the organization that you work in.
Speaker:And I guarantee you, if you call up any head of FP&A and say, hey,
Speaker:can you spend half an hour with me and just walk me through the P&L?
Speaker:They will be delighted to walk you through that.
Speaker:That understanding of the finances of a company and this willingness to
Speaker:take not exactly the straight path.
Speaker:Those are probably the two things that were most important to me as I looked
Speaker:at growth opportunities in my career.
Speaker:Wonderful.
Speaker:I love that.
Speaker:Thank you for sharing.
Speaker:Quick question on the move to PM, effectively.
Speaker:Did you feel like you had to explain away at the time?
Speaker:Whether it was when you're moving into that role or for the next role you got?
Speaker:Because I think that's sometimes people's concern.
Speaker:Oh, I like the jungle gym idea of career development, but if I go backwards now,
Speaker:is that going to preclude future growth?
Speaker:Yeah, it's a great question, Erica.
Speaker:I have to say there, I'm sure there's a little bit of risk in doing that, because
Speaker:people think that, oh, wait a minute, they're going backwards in their career.
Speaker:In my case, it wasn't really.
Speaker:It was a senior-level and individual contributor, was
Speaker:one thing that was useful.
Speaker:I think I probably went into it with a fair amount of bravado, whether it was
Speaker:advised or not, that, hey, I'll be able to just move on here and do the next thing.
Speaker:And I happened to.
Speaker:But the third thing that I'd recommend to people all the time in their careers,
Speaker:especially in the meat of their careers, and that you're in year like five to
Speaker:fifteen in your career, as an example, spend some time with the same company.
Speaker:If you can find a company that you can grow with, by far, the times in
Speaker:my career where I grew the most were these times where I was committed
Speaker:to a company for a number of years.
Speaker:What happens is, people will give you a chance.
Speaker:If you get in there, you work hard, you prove yourself, they're much more likely
Speaker:to give you a chance to take that stretch assignment than they are to give someone
Speaker:from the outside a stretch assignment.
Speaker:And those are the areas where you really grow.
Speaker:Sometimes you take a little risk if you do something that's a little bit non-linear
Speaker:in your choices, but if you're there for the long term, think four or five,
Speaker:six, seven years with a company, as an example, don't hop around for a year at
Speaker:a time, then they're much more likely to want to protect you and do the right
Speaker:thing by you over a long period of time.
Speaker:So I think for me, that really worked out because I've had a number of
Speaker:opportunities where I've been with a company for many years that's actually
Speaker:given me lots of opportunity to try new things and have that opportunity to grow.
Speaker:Yeah.
Speaker:Thank you.
Speaker:Yeah, I love that.
Speaker:Just own it.
Speaker:Don't present it as a weakness.
Speaker:It's, oh, this is a strategic choice for me to do this and own it.
Speaker:I bet the bravado took you far in that situation.
Speaker:Wonderful.
Speaker:Thank you so much for joining the show, Peter.
Speaker:This has been great.
Speaker:Do you want to flash your book up for our video folks?
Speaker:Peter wrote the next CMO So that's one thing.
Speaker:We'll put that into the show notes as well.
Speaker:Along with Scott and Dan, they wrote it with me.
Speaker:So I can't
Speaker:This trio of guys.
Speaker:Yeah.
Speaker:I don't
Speaker:I'll have to tell you that when I sold my company, Plannuh, I
Speaker:actually sold the right to my book.
Speaker:So, I don't make any money on this, so don't worry about having
Speaker:to buy this to make me happy.
Speaker:I do think it was a useful tool for lots of CMOs out there along the way,
Speaker:but that's, I have nothing else to promote, so, I guess I'll try and
Speaker:promote the book because I think I'm doing a good thing for CMOs in general.
Speaker:Awesome.
Speaker:Well, thank you again for joining the show, Peter.
Speaker:This has been great hearing from you.
Speaker:Great.
Speaker:Thanks for having me.
Speaker:That was Peter Mahoney, Chief Commercial Officer of GoTo
Speaker:and author of The Next CMO.
Speaker:Stay tuned for the next episode of The Get, coming in a couple of weeks.
Speaker:Thanks for listening to The Get.
Speaker:I'm your host, Erica Seidel.
Speaker:The Get is here to drive smart decisions around recruiting and
Speaker:leadership in B2B SaaS marketing.
Speaker:We explore the trends, tribulations, and triumphs of today's top
Speaker:marketing leaders in B2B SaaS.
Speaker:If you liked this episode, please share it.
Speaker:For more about The Get, visit TheGetPodcast.com.
Speaker:To learn more about my executive search practice, which focuses on recruiting the
Speaker:make-money marketing leaders rather than the make-it-pretty ones, follow me on
Speaker:LinkedIn or visit TheConnectiveGood.com.
Speaker:The Get is produced by Evo Terra and the team at Simpler Media Productions.