Hi, you're listening to the, get the podcast about finding
Speaker:and keeping great marketing
Speaker:leaders in B2B SaaS.
Speaker:I'm Erica Seidel, your host.
Speaker:You know those people who so clearly revel in what they do and are so
Speaker:knowledgeable on both the big things and
Speaker:the little things?
Speaker:Today I
Speaker:talk with a CMO like that.
Speaker:Her name is
Speaker:Kristin Hambelton.
Speaker:She's the CMO of MineralTree, which is a SaaS company in the Accounts
Speaker:Payable & Payments automation space.
Speaker:Kristin spent the
Speaker:last several months steering marketing through an acquisition.
Speaker:She was previously CMO of Marketing Evolution and CMO of
Speaker:eVariant, which ended up selling to
Speaker:Healthgrades, and before that
Speaker:she
Speaker:was VP of Marketing for Neolane, which sold to Adobe.
Speaker:You'll hear hard-won advice
Speaker:for embarking on a scale journey.
Speaker:In particular, you'll hear about
Speaker:budgeting for marketing
Speaker:during growth.
Speaker:How do you communicate to a CEO and CFO that you were investing smartly,
Speaker:without overspending?
Speaker:How well
Speaker:are you connecting the marketing budget to the growth strategy?
Speaker:You'll hear about sharing with the rest of the company leaders what
Speaker:marketing is saying yes to and what marketing is saying no to.
Speaker:And when does it make sense to give budget back to the CFO
Speaker:versus advocate for more budget?
Speaker:You'll also learn about hiring for hypergrowth and what to do when you
Speaker:have multiple marketing functions but can't yet justify hiring one
Speaker:person for each function.
Speaker:Let's get
Speaker:right into this.
Speaker:Kristin, I am so glad to have you here.
Speaker:Would love to have you just share some advice for a CMO embarking on a scale
Speaker:journey.
Speaker:I know in
Speaker:this question we're tapping into
Speaker:some hard-won lessons
Speaker:from your own experience scaling marketing at many companies.
Speaker:Can you talk through that?
Speaker:Sure.
Speaker:So I think in terms of scaling, there's what you do at a private company
Speaker:versus what you do at a public company.
Speaker:But I think some of the same
Speaker:rules apply.
Speaker:I've spent,
Speaker:I would say, the better part of my career more on the private side, although,
Speaker:obviously, within large companies trying to scale divisions or verticals,
Speaker:et cetera.
Speaker:On the private side, one of the things in terms of embarking on the
Speaker:journey, I first would recommend to
Speaker:marketers to figure out
Speaker:the scale of the scale, if you will.
Speaker:Not all scale is created equal.
Speaker:As an example,
Speaker:going from zero to $10 million is very different from going to 10 million to,
Speaker:say, 30 million, and then even 30 to 50 million, and then 50 to a hundred million.
Speaker:And the reason that they're
Speaker:different is you're trying to
Speaker:figure things out.
Speaker:If we all had the answers the minute that we launched a company, or that
Speaker:founders started companies, there would be no process of scaling.
Speaker:So in the beginning,
Speaker:if you're really starting in your scale process, and usually that's when you're
Speaker:at an earlier part of growth, you're doing
Speaker:the basics.
Speaker:One of the
Speaker:most
Speaker:important things is just figuring
Speaker:out who you're targeting, what works.
Speaker:And you could get away with trying a lot of different things at this
Speaker:part in scale because you just don't
Speaker:know much yet.
Speaker:Sure, you're
Speaker:going to come with whatever experience you have or what people have tried
Speaker:already, but it's usually not that much.
Speaker:Compared to, say, 10 to 30 or 10 to 50 million, that scale
Speaker:is very different because
Speaker:you will have, at this
Speaker:point, figured out what your ideal audience is.
Speaker:You will have figured out what works and
Speaker:doesn't work.
Speaker:Now it's really
Speaker:about focus and refining all of those things.
Speaker:I would also say that you're adding other elements into the marketing mix.
Speaker:You might've been very demand focused early on or sales enablement
Speaker:focused, but now in this range, you have to be all things across
Speaker:marketing.
Speaker:Content plays
Speaker:a huge role at this point because your sales team is probably
Speaker:scaled at the same level.
Speaker:So content and thought leadership to give some of that air cover
Speaker:to the very focused demand
Speaker:generation that you're doing.
Speaker:Of course,
Speaker:it also means at this point that you are religious because
Speaker:you know what the message is.
Speaker:You know what your brand promises.
Speaker:You're being consistent and focused and you're getting
Speaker:into a groove and you feel it.
Speaker:You really, I feel it anyway.
Speaker:I know when we're firing on all cylinders.
Speaker:Then, at the next stage, 50 million and
Speaker:above, you're taking all
Speaker:of the things that you just did in the last phase
Speaker:and multiplying them.
Speaker:What's really
Speaker:important at this point, probably more so than even earlier on,
Speaker:is what you're not going to do.
Speaker:Because at this point, people expect you to do everything and try
Speaker:everything.
Speaker:I actually
Speaker:think that's a recipe for disaster.
Speaker:Even though people would think, okay, you have more budget, you probably
Speaker:have more people at this point.
Speaker:Right, but you can't split the baby more ways than you need to.
Speaker:You got to keep doing
Speaker:what you know works, and as I
Speaker:like to say, you have to adopt the superpower of saying no.
Speaker:And really socializing, I've really learned that lesson early on to socialize
Speaker:with my peers on the leadership team and usually a layer down of here are the
Speaker:things we're going to do, but by the way, here are the things we're not going to do.
Speaker:And I make sure it's in
Speaker:writing, in a deck, and I remind
Speaker:people of it.
Speaker:Sure, we need to be flexible and stuff changes, whether it's within the
Speaker:business or even macroeconomically, or a pandemic happens, or a
Speaker:tragedy like 9/11, so you
Speaker:have to
Speaker:flex.
Speaker:But all things
Speaker:being
Speaker:equal, you really have to remind people
Speaker:of what you're not going to do.
Speaker:That is the way you scale because you have to be not only effective, you
Speaker:have to be really efficient in what
Speaker:you're doing.
Speaker:Marketers
Speaker:know this better than anybody, right?
Speaker:We're asked to do a lot with not a lot often.
Speaker:So you're not going to get to scale if you are saying yes to everything and
Speaker:splitting your team and your resources and your time and your budget across too
Speaker:many things.
Speaker:You've already
Speaker:proven the things that work and don't work.
Speaker:One caveat, make sure you always keep some
Speaker:percentage of "we've got to try
Speaker:new things"
Speaker:in there.
Speaker:I know that
Speaker:sounds
Speaker:a little contradictory
Speaker:to focus, focus, focus.
Speaker:I'm more saying there's gotta be 10% or 15% or some amount of
Speaker:your team and your resources and something where, hey, there's this
Speaker:cool new thing called podcasts we
Speaker:need to try.
Speaker:A few years
Speaker:ago, right?
Speaker:You can't not because sometimes trying those things ahead of others will give
Speaker:you a unique and distinct advantage.
Speaker:Just be prepared to fail because you just don't know, which is why
Speaker:I recommend it can't really be more than about 10 or 15% on this
Speaker:experimentation.
Speaker:I love your
Speaker:point about educating about what you're not
Speaker:doing because somewhat of
Speaker:a marketing leader's role is about constantly, I call it
Speaker:the marketing of marketing, but
Speaker:constantly
Speaker:sharing with the
Speaker:organization what's going
Speaker:on, what you're doing, why you're doing it, what results you're
Speaker:having from those activities, but also, to your point, what you
Speaker:don't do.
Speaker:I'm curious your take on when you do,
Speaker:as you
Speaker:do scale, I imagine
Speaker:your budget
Speaker:gets bigger.
Speaker:And say you're actually choosing to planfully
Speaker:grow your budget.
Speaker:So how do you communicate out to a CEO and a CFO
Speaker:that you are investing
Speaker:without
Speaker:overspending?
Speaker:How do you think of the opposite side of it when your budget does grow and
Speaker:you want to be planful about that?
Speaker:The way I like to do it is I always like to start with total
Speaker:addressable market and look at where we are penetrated and what's still
Speaker:left to go.
Speaker:Then I tend
Speaker:to do a real swag on, a real estimate on, depending if it's a demand funnel
Speaker:versus account-based marketing.
Speaker:You know, how much we actually need to generate and look at what we
Speaker:think from a programs perspective is
Speaker:realistic.
Speaker:If you have
Speaker:a baseline or even an estimate and some industry benchmarks to
Speaker:start with, say you start with fifty or a hundred
Speaker:dollars at a cost per lead, I'm just totally swagging it.
Speaker:If you knew nothing else you could start to back into about from a program
Speaker:perspective you need.
Speaker:I do that
Speaker:also combined with my total addressable market in terms of the number of accounts.
Speaker:As an example, if you have a million accounts you can go after, you know
Speaker:only 10% of the market is penetrated, that means 90% you can go after
Speaker:from a demand funnel perspective.
Speaker:How many people do you need to touch to get to the number of deals
Speaker:you need to based on the revenue number that you're given to produce?
Speaker:Now, from an
Speaker:account-based perspective, those
Speaker:which you have maybe small total addressable market.
Speaker:I was in one market where we only had 300 total accounts that
Speaker:existed.
Speaker:One third were in the buying
Speaker:process at a time, and the sales
Speaker:cycle was eighteen months.
Speaker:So
Speaker:you only have
Speaker:a hundred accounts, really, you could go after.
Speaker:You need
Speaker:to look at touches across the buying group, how much you need to engage with
Speaker:them, how much the touches would cost you you think to engage with those people, to
Speaker:do the same exercise of how many times, realistically, do I need to touch that
Speaker:buying center across all of the contacts.
Speaker:And that comes up with the programs.
Speaker:Now, let's not forget about
Speaker:the people.
Speaker:This is really
Speaker:a little bit of the art
Speaker:of budgeting.
Speaker:In B2B marketing
Speaker:right now, benchmarks are about 50% program, 50% people.
Speaker:It actually airs a little more towards program, like 55, 45.
Speaker:And to be honest with you in
Speaker:the last twenty years, that
Speaker:really hasn't moved much.
Speaker:What I have found is in some years, even in the same role, you will find
Speaker:you don't even have enough people to spend the money you have, which seems
Speaker:really odd as a marketer, given we always complain about the budgets.
Speaker:But you can throw that money away if you want to, or what I've done in the past
Speaker:is I share that with my CFO and I said, sure, we have this money, I'm actually not
Speaker:going to spend it because I can't spend it on the things that we know work and
Speaker:experimentation.
Speaker:So I share that to say, I'm
Speaker:being mindful of what works and doesn't work.
Speaker:You need people to manage
Speaker:programs and to deliver content
Speaker:and if you don't have them.
Speaker:And the reason I actually share that with my CFO is so that I
Speaker:protect myself a little bit so I don't lose my budget the next year.
Speaker:This is actually great timing this year.
Speaker:Here we are 2021.
Speaker:I'm very fortunate, I had a fabulous year.
Speaker:My company just got acquired.
Speaker:All things are great.
Speaker:We're
Speaker:hiring.
Speaker:We have money.
Speaker:And we're
Speaker:in budgeting season and I'm very efficient and effective with my budget.
Speaker:I'm at a point where I know what works.
Speaker:My team is firing on all cylinders.
Speaker:What's really interesting is next year events are back, and we all
Speaker:know that events are the single most
Speaker:expensive cost-per-lead item.
Speaker:So I'm actually fighting for more budget than I
Speaker:normally would.
Speaker:In the past,
Speaker:I usually come to some happy medium, but I know everything is going to
Speaker:ramp significantly like we've never
Speaker:seen before with trade shows.
Speaker:So those are the combinations of things.
Speaker:Back to the people part, I'm also making the case of more shows,
Speaker:you need resources to manage
Speaker:those shows.
Speaker:Sometimes
Speaker:you have to make choices on people versus programs.
Speaker:Sometimes you have too many people and not enough
Speaker:dollars.
Speaker:That's where
Speaker:the art comes in.
Speaker:I usually find, pretty consistently, it is 55 program to 45
Speaker:people.
Speaker:It really doesn't vary much.
Speaker:I
Speaker:tend to be a little weird and I would trade dollars to get people
Speaker:versus programs because I know if you have really talented, committed
Speaker:people, you can do amazingly creative
Speaker:things without money.
Speaker:Not everybody
Speaker:feels that way.
Speaker:That's just what I have found consistently.
Speaker:But again, I'm sure people have different approaches.
Speaker:I just know that if you can get a fantastic marketer in who can do an
Speaker:amazing program, piece of content, whatever it is, it more than pays
Speaker:for itself in terms of some programs.
Speaker:Now, of course, there could be exceptions.
Speaker:You
Speaker:could be in a market where it's trade shows
Speaker:only, and that's just the way it is.
Speaker:And I get that.
Speaker:But to be honest with you, I've
Speaker:marketed to just about every
Speaker:industry and every functional group, and I've pretty much just
Speaker:found it that I err a little
Speaker:bit more on people, which, by
Speaker:the way, isn't always possible because there's often headcount restrictions.
Speaker:People think you're trying to build a kingdom, but as it is, marketers
Speaker:do usually three jobs a piece anyway.
Speaker:So again, that's just my personal choice.
Speaker:Sometimes, when it comes down to it, like in my budget for next year, I feel
Speaker:like I'm a little light on people and if I had to trade a little bit, I would
Speaker:trade a little more on the people's side
Speaker:right now.
Speaker:You remind
Speaker:me of this person I
Speaker:talked to who said, "Oh, I'm a CMO who thinks
Speaker:like a CFO."
Speaker:I forget if it was you, but
Speaker:if it was I like that.
Speaker:I'm just picturing you talking with
Speaker:your CFO.
Speaker:I guess people might wonder if you're going to give back budget or recommend
Speaker:that it go to sales or whatever.
Speaker:In one cycle, do you ever have a hard time asking for
Speaker:- what you're
Speaker:doing right now is asking for more budget for a valid reason for the next cycle.
Speaker:Does that ever shoot yourself in the foot to give money
Speaker:back?
Speaker:So, I've shot myself
Speaker:in the foot when I haven't been really crystal clear with my boss,
Speaker:which was usually
Speaker:the CEO
Speaker:and the CFO, why I'm doing
Speaker:what I'm doing.
Speaker:In the past,
Speaker:I've just been like, oh,
Speaker:I'm going to be a good doobie and I'm going to come in
Speaker:under budget.
Speaker:Then, everybody's
Speaker:happy you're under budget, and then you get
Speaker:less budget.
Speaker:It usually
Speaker:happens around Q3 where
Speaker:you figure this out.
Speaker:That's my experience.
Speaker:I usually don't find it before that.
Speaker:But usually around Q3,
Speaker:I'm like, ooh, I'm going to run under budget
Speaker:and if I don't end up hiring X, Y, and Z, I can't even spend the money.
Speaker:And I start giving hints that I'm going to come under budget.
Speaker:And it's not like they take some pot of money and they go give it
Speaker:to somebody else.
Speaker:What it does
Speaker:is it gives it the business breathing room and it allows the CFO to
Speaker:know that if they have to make a decision someplace else, they're
Speaker:going to have a little bit of room.
Speaker:So it's not like I'm like here's $200,000 or 300 - you have it.
Speaker:It's more, this is where I'm thinking I'm
Speaker:going to come in, and they're
Speaker:like, okay, that's helpful to know.
Speaker:And again, I
Speaker:explain it, essentially
Speaker:rationalizing and, I hate to say this, doing CYA so it doesn't
Speaker:come back to bite me next year.
Speaker:This also
Speaker:goes to a really
Speaker:good point about your CFO,
Speaker:which is, I just can't even imagine a better relationship that I need
Speaker:to have, in terms of trust, to be able to spend and manage the money
Speaker:and have their backs as much as
Speaker:they have mine.
Speaker:So, I
Speaker:have had the good fortune, but I've also made it a priority to
Speaker:engage as much as possible with the CFO and the finance team, to
Speaker:over-communicate, which takes time
Speaker:and effort
Speaker:in addition to all of the things you're trying to do.
Speaker:But it helps them do
Speaker:their job better.
Speaker:Then, god forbid,
Speaker:I ever make a mistake or get in a jam, I have found it usually pays for itself
Speaker:in terms of they get it, you're human.
Speaker:They know you're trying to do the right thing, every once in
Speaker:a while things get screwed up.
Speaker:But for the most part, they know that you're trying to manage the
Speaker:money effectively and efficiently.
Speaker:Can you talk about tying extra budget to growth strategy a little bit more?
Speaker:If a company
Speaker:is expanding,
Speaker:it might want
Speaker:to go into new markets or maybe you acquire a
Speaker:business and now you have
Speaker:five products and not one product.
Speaker:So how
Speaker:should a CMO think about
Speaker:expanding
Speaker:their budget
Speaker:in that kind of
Speaker:situation?
Speaker:Is it like, oh,
Speaker:we're buying a company that's going to double our size,
Speaker:so my budget should double?
Speaker:Or, I don't know if that's the right way to think about it.,
Speaker:Oh, I can dream, Erica, we can all dream.
Speaker:By the way,
Speaker:usually when you buy companies, even though there's different
Speaker:strategies for M&A, mergers and acquisitions, I don't think
Speaker:that they're mutually exclusive.
Speaker:Often you do an acquisition for
Speaker:growth, so it's what they
Speaker:call a growth acquisition.
Speaker:Or you do one for efficiencies.
Speaker:Now, what's interesting is I always find, even with the growth ones, they
Speaker:want efficiencies.
Speaker:You could say you're buying
Speaker:revenue, but they're always
Speaker:looking for
Speaker:efficiencies.
Speaker:In
Speaker:terms of what is critically important, and
Speaker:even at this point in my career I'm still learning.
Speaker:I am doing a
Speaker:better job now with
Speaker:what I would call the triumvirate of my partners, which is sales
Speaker:and product and marketing.
Speaker:I was always joined at the hip with my
Speaker:sales leader.
Speaker:With my product
Speaker:leader, I've always joked that I'm not smart enough to market
Speaker:a product I don't understand, so I've always been close to product.
Speaker:But I've done a much better job more
Speaker:recently with my triumvirate.
Speaker:The
Speaker:three of us would decide where we're going to tie budget because last year
Speaker:we actually acquired two companies
Speaker:and it was two new platforms
Speaker:we had to adopt.
Speaker:And unless I know in the product roadmap, as an example, where they are
Speaker:planning on parity or not,
Speaker:that's going to warrant a discussion on do I need another product marketing manager?
Speaker:Do I need new collateral?
Speaker:Are we going to put it under
Speaker:one brand?
Speaker:Ugh, naming!
Speaker:Don't forget
Speaker:naming.
Speaker:What's that going to?
Speaker:Also with sales then, does sales need
Speaker:to change how they're organized?
Speaker:Do they need to
Speaker:change their go-to-market?
Speaker:So it's very much not a conversation
Speaker:I can do in isolation.
Speaker:I don't think it's one I can even do
Speaker:with just sales.
Speaker:It's one where
Speaker:the three of you need to sit down and say, okay, this is what we have.
Speaker:I very
Speaker:much see it as this is what
Speaker:we have to work with in terms of assets.
Speaker:This is the products we have.
Speaker:This is what the roadmap
Speaker:looks like.
Speaker:This is what
Speaker:the selling team looks like.
Speaker:This is what the marketing team looks like and where we are in our
Speaker:maturity.
Speaker:Then, it's
Speaker:okay, here's the target - I'm making this up - for next year that we need to get to.
Speaker:How are we going to get there
Speaker:from a go-to-market?
Speaker:Are we going
Speaker:to expand our verticals?
Speaker:There's only a handful of ways you can grow, right?
Speaker:You grow through acquisition, as we mentioned.
Speaker:You go to new vertical
Speaker:markets.
Speaker:You go to new buyers within the same vertical.
Speaker:Somehow, if you have a different offering
Speaker:that you can, if you're
Speaker:selling to finance, then maybe you can sell to HR.
Speaker:I'm making that up, but that's possible
Speaker:in human capital
Speaker:management.
Speaker:Actually, when I was at Kronos, we were the time clock people.
Speaker:Then all of a sudden we expanded to do more HR.
Speaker:Or you can expand
Speaker:geographies.
Speaker:So you
Speaker:have to pick.
Speaker:You can't - by the way, a lot of times it
Speaker:starts off, we're going
Speaker:to do all of
Speaker:those things.
Speaker:I'm usually one that says, that's great,
Speaker:but let's talk about if you had to pick and choose, what would be the priority?
Speaker:Often those conversations are one of sizing
Speaker:and timing.
Speaker:We want to
Speaker:do all those things.
Speaker:Let's the three of us talk about it.
Speaker:Which one can we go
Speaker:the fastest at, which
Speaker:one do we think we have the most success, and which one helps us get us
Speaker:to our goals both fast, but also in a
Speaker:doable way?
Speaker:Not to be
Speaker:forgotten right now, as we run into other times, depending on
Speaker:what the economy is doing, if it's right now, a strategy that requires
Speaker:hiring fifty people really
Speaker:fast, good luck
Speaker:with that.
Speaker:You just can't
Speaker:hire people right now, just because of the unemployment rate and people's
Speaker:availability and the competition.
Speaker:So that's
Speaker:why it's important
Speaker:to have those three groups, the three leaders, together and say, what is
Speaker:the go-to-market strategy?
Speaker:Then, from
Speaker:there I
Speaker:can decide, given that,
Speaker:where do I put the
Speaker:budget?
Speaker:Now, that was a long-winded conversation,
Speaker:but
Speaker:I'm going through
Speaker:it right now.
Speaker:I'm living and breathing it, so, I thought it was
Speaker:- just to say it's still
Speaker:something I'm
Speaker:learning.
Speaker:You know, old dogs can
Speaker:still learn
Speaker:new tricks.
Speaker:You brought
Speaker:up hiring, Kristin.
Speaker:Would love to hear your take on hiring during hypergrowth.
Speaker:Like you said, everybody's struggling with it on the recruiting side.
Speaker:I'm
Speaker:struggling with it.
Speaker:It used
Speaker:to be that if I wrote to a
Speaker:hundred people, eighty would get back to me right away.
Speaker:I'm sure it's the same thing across the board.
Speaker:So how do you think of covering multiple functions with fewer people
Speaker:where one person might do double duty?
Speaker:Can you talk through that and your take on hiring during hypergrowth
Speaker:and how to make the best use out of a
Speaker:smaller team?
Speaker:I have found in B2B marketing
Speaker:in general, and I don't know if this is true in other functions because
Speaker:I've lived and breathed
Speaker:marketing my whole career, but it feels like we have a hundred different
Speaker:disparate jobs that we need to do that
Speaker:probably require fifty different skillsets.
Speaker:That's why I love what I do, by the way, because I
Speaker:don't like doing the same thing.
Speaker:I get bored.
Speaker:So it's a good thing.
Speaker:But
Speaker:it's also, if maybe
Speaker:you're a small startup
Speaker:and you're 5, 10 million
Speaker:in revenue, you're not going to
Speaker:have a team more than 10, 20 people, depending
Speaker:on your
Speaker:investment model.
Speaker:You're going
Speaker:to have a
Speaker:handful of people.
Speaker:You
Speaker:have to think,
Speaker:just off the
Speaker:top of my head, in no
Speaker:particular order.
Speaker:Somebody
Speaker:has got to build sales collateral.
Speaker:Somebody has got to do a website.
Speaker:Somebody has got to do email campaigns.
Speaker:Oh, somebody has got to do
Speaker:trade shows.
Speaker:Really quickly,
Speaker:all of a sudden,
Speaker:you're at twenty different
Speaker:tasks and those skillsets just naturally
Speaker:don't come in together
Speaker:because people usually specialize when they're starting off in
Speaker:their career.
Speaker:What I try
Speaker:to do when I
Speaker:go into an existing organization
Speaker:is I try to see what's there and try to blend roles that might fit together.
Speaker:Even if the person's not doing additional functions, try to add
Speaker:them, see if that's an area for growth that they're interested in.
Speaker:Because if you try to make them unnatural, then what will happen
Speaker:is when you try to hire for the other roles, it just won't work.
Speaker:So I really try to think about what's
Speaker:natural.
Speaker:I'll give
Speaker:you an example.
Speaker:I often have to have some flavor of partner marketing.
Speaker:Earlier on in
Speaker:maturity in companies,
Speaker:I don't always have the luxury of having a partner
Speaker:marketing person.
Speaker:And different
Speaker:than channel.
Speaker:So they may be referral
Speaker:partners, but they're not hardcore
Speaker:channel where it's, obviously then that's like the first
Speaker:person you hired if
Speaker:you're all through
Speaker:channel.
Speaker:I'm talking maybe they
Speaker:refer 15, 20% of your revenue, you need someone to support them.
Speaker:I
Speaker:have found, though, I can't give
Speaker:a whole head count to it because think about it, the other 80% of
Speaker:my business is direct, and I've got to support
Speaker:a team of salespeople.
Speaker:What I have found is that because product marketing knows
Speaker:the product really well, and I
Speaker:think happen to be Swiss
Speaker:Army Knives of the organization, I tend
Speaker:to marry that
Speaker:into a product marketing role in the short term until
Speaker:I can get coverage.
Speaker:They could
Speaker:talk the talk, they can walk the walk, they know what the partners need.
Speaker:If there's
Speaker:some kind of co-marketing execution things, it can be punted off to a demand
Speaker:person or someone else doing execution.
Speaker:But there's somebody at least there that's managing the partner if we need to.
Speaker:I also find that with
Speaker:content.
Speaker:If you can't
Speaker:dedicate a
Speaker:content person, which is criminal,
Speaker:but if you can't, sometimes you can marry it into a PR role.
Speaker:I have it now,
Speaker:actually.
Speaker:I just happened
Speaker:to have an
Speaker:outstanding person, he manages
Speaker:partner contents and product marketing.
Speaker:Obviously, he has people under him, but a lot of it is about the content.
Speaker:So he's managing overall content strategy for the different audiences
Speaker:that those serve with kind of one view.
Speaker:So that's how I try to get creative, but at some point, you get to a breaking
Speaker:point where this is not
Speaker:tenable anymore.
Speaker:But you can prove that through growth.
Speaker:If the partners are growing, obviously you need somebody who can manage that.
Speaker:The other way around things, of course, people can use contractors,
Speaker:agencies,
Speaker:vendors, whatever.
Speaker:You know which marketers use on a regular basis anyway.
Speaker:You could certainly do that, either as a stop gap or as your overall strategy.
Speaker:Some people just like to outsource certain things.
Speaker:I tend to outsource my PR, but I make sure that either myself or somebody
Speaker:else manages it.
Speaker:That's just
Speaker:a particular thing that I like to do that's a preference and it does save
Speaker:on head count, precious head count.
Speaker:And usually there's some flexibility based on the PR agency or person that you use
Speaker:where you can flex on budget, if needed.
Speaker:In terms of hiring, I'm in the boat with everybody else.
Speaker:In terms of secret sauce and attracting people, we try to go hard on our
Speaker:networks because we do know that people who are referred usually have a
Speaker:better track record.
Speaker:We also
Speaker:make it a priority meeting with our
Speaker:recruiter and/or HR person,
Speaker:depending on who's doing the
Speaker:recruiting.
Speaker:We're meeting
Speaker:2, 3, 4, 5 times a week
Speaker:with them.
Speaker:We're also giving them like profiles, which is incredibly valuable.
Speaker:In recruiting
Speaker:sometimes they call them
Speaker:calibration resumes, which
Speaker:are here are the exact three resumes of people that would be perfect for
Speaker:our job.
Speaker:Share it with
Speaker:your HR, your recruiter, and tell
Speaker:them why.
Speaker:By the way,
Speaker:those three people may not be available.
Speaker:Often I'll do it as LinkedIn
Speaker:profiles.
Speaker:I'll just
Speaker:go in and look people up and I'll say, oh, this person's
Speaker:perfect because they have this
Speaker:and this.
Speaker:What that does is it just allows
Speaker:us to go a little
Speaker:more focused on the search and
Speaker:hope that we find like people.
Speaker:But like everybody else we're
Speaker:struggling with the same
Speaker:thing.
Speaker:We do hope that we do it through our team and through our network
Speaker:and attracting people with
Speaker:our overall value proposition
Speaker:as a company, in terms of high growth and benefits and team and all that good stuff.
Speaker:But again, we're in it with everybody else.
Speaker:I love your idea of giving the recruiters the
Speaker:calibration profiles.
Speaker:It makes
Speaker:me remember this one conversation
Speaker:I had with, it shall
Speaker:remain nameless, but a large company that was hiring their first marketing
Speaker:technology VP.
Speaker:They tried
Speaker:on their own, and then they
Speaker:came to me.
Speaker:The HR person
Speaker:was like, yeah, I've been working on this for a while, but actually I have
Speaker:no clue what a MarTech person is.
Speaker:So she had been actually wasting time because
Speaker:she hadn't - I think she
Speaker:felt like, oh, I should know this,
Speaker:I didn't want to ask
Speaker:the stupid questions.
Speaker:I ended up saying no, I'm not
Speaker:going to
Speaker:do this, or I didn't
Speaker:have time or whatever.
Speaker:But I said, well, why don't you just
Speaker:sit down - it's the
Speaker:same thing that you do.
Speaker:Sit down, very granularly look at your calibration
Speaker:profiles so that you
Speaker:can
Speaker:do your lookalike modeling, from there.
Speaker:Well, it helps
Speaker:because
Speaker:we can't expect recruiters,
Speaker:as good as you are, Erica, to know everything that's in our head about what
Speaker:we want and need and, in this market, what we might be able to overlook.
Speaker:And I'm not saying
Speaker:compromise.
Speaker:I'll give you
Speaker:an example.
Speaker:We are hiring a marketing specialist right now.
Speaker:Every other role, I think, on our website right now is remote because
Speaker:you can work from anywhere, except our marketing specialist role.
Speaker:And it's very
Speaker:conscious.
Speaker:The reason
Speaker:that we can't overlook
Speaker:that is, that is the
Speaker:person that's going to be managing all our trade show assets and shipping that stuff
Speaker:out and doing logistics, and it matters
Speaker:because you can't have
Speaker:all your trade show assets all over the country.
Speaker:So it seems like such a simple little thing, but having managed
Speaker:that remotely on multiple occasions and knowing the challenge of that.
Speaker:Now, doesn't mean this person needs to be in
Speaker:the office.
Speaker:But,
Speaker:having it remote, even just knowing what you have in inventory.
Speaker:You know us marketers, we don't even
Speaker:know what we have in the
Speaker:marketing closet.
Speaker:That's the
Speaker:joke, the big joke, the marketing
Speaker:closet, right?
Speaker:I actually
Speaker:have a habit of taking
Speaker:pictures of everything so that if
Speaker:you are remote, you can at least make decisions.
Speaker:But again, it's a tiny little thing, and if we run into a jam and need
Speaker:be, and we need to do a storage unit near them, and that's the
Speaker:approach that we take, that's what
Speaker:we'll do.
Speaker:To your point,
Speaker:it's just helping your recruiter, or whoever it is that's doing your
Speaker:hiring, so they're as smart as possible.
Speaker:Also, it's up to the team.
Speaker:We put a lot
Speaker:of pressure on ourselves, on our team because it's the person we're going
Speaker:to work with every day, and I would not trivialize or minimize that.
Speaker:Your team should be reaching out every single day to try to find somebody.
Speaker:That's an expectation of mine, but I haven't seen anybody on my teams not do
Speaker:it because it behooves them to do it.
Speaker:But you can't just mail it in and think it's all going to
Speaker:happen through the recruiter.
Speaker:Hey, you see a cool brand,
Speaker:or you see another company doing a really
Speaker:cool thing, you know what?
Speaker:Let us know, go check them out.
Speaker:Maybe they do have some marketing people that could be
Speaker:a fit for us.
Speaker:That makes
Speaker:me think of one company that gives people, like, Starbucks gift cards with the
Speaker:idea that, and this is pre-pandemic, but everybody
Speaker:gets a Starbucks gift card so they can take potential new employees out
Speaker:for coffee.
Speaker:And when you
Speaker:have depleted your card, you just go in and you say, oh, I need another card,
Speaker:and you get another
Speaker:one
Speaker:for $20, $50, whatever.
Speaker:This idea
Speaker:that everybody should
Speaker:always be
Speaker:in
Speaker:that mode.
Speaker:If talent is your most important thing, your calendar should reflect it, you know?
Speaker:That's just
Speaker:the thing.
Speaker:I very much
Speaker:believe in looking at things differently.
Speaker:I think that's also why I'm in marketing.
Speaker:There's not just one
Speaker:playbook.
Speaker:So if you
Speaker:can, let's say it
Speaker:again, my 10-15% rule.
Speaker:Let me try something different.
Speaker:Let's look at a completely different profile, and maybe that's what we need.
Speaker:I love that idea of taking that same idea of
Speaker:20% of your
Speaker:budget is spent on wild and crazy things that might or might not work,
Speaker:but think about that in terms of a team.
Speaker:If
Speaker:you hire ten people, one or two
Speaker:can be really like the squint profiles, I like to say, where you
Speaker:turn your
Speaker:head to the side.
Speaker:Maybe it works great.
Speaker:Maybe it doesn't,
Speaker:but you know it's somebody
Speaker:really
Speaker:different.
Speaker:One of the things too, I need to
Speaker:do the plug here for the interns.
Speaker:I tend to, and I've done this for
Speaker:the past fifteen years, I
Speaker:tend to hire interns that are sophomores or juniors in college, and then we
Speaker:ask them to stay through the summer.
Speaker:So they'll work full-time over
Speaker:the summer, then we ask for about fifteen hours a week
Speaker:during the school year.
Speaker:We're totally flexible on their hours and their days.
Speaker:I even move my staff meeting based on their schedule.
Speaker:Once they get their schedule each semester, we'll move
Speaker:it so we can accommodate it.
Speaker:We always tell them, you know you need to study for exams, take the week off.
Speaker:Spring break, whatever.
Speaker:But by keeping them, you get this continuity and then you have
Speaker:these rockstar people that are completely trained and ready to go
Speaker:right out of school.
Speaker:So that's
Speaker:another thing
Speaker:with hiring.
Speaker:There's hiring right out of school, and then there's hiring right out
Speaker:of school somebody who's just spent
Speaker:the last eighteen months with
Speaker:you.
Speaker:Very funny story.
Speaker:My head of demand generation right now who works for me, was
Speaker:my intern ten years ago.
Speaker:Oh yeah,
Speaker:I love that.
Speaker:It's like, yeah,
Speaker:we have this talent pipeline problem, so
Speaker:fix it by training up
Speaker:people now, being the
Speaker:trainer, and
Speaker:then the person that catches them
Speaker:as they come out of
Speaker:school.
Speaker:They do
Speaker:also
Speaker:self-select.
Speaker:If they really
Speaker:love it, they stay.
Speaker:Some of them sometimes will say, no, I want to go try another company.
Speaker:But the idea of having an intern for one semester I
Speaker:think is personal.
Speaker:It's training somebody
Speaker:up for three months or even six months, and then they're gone
Speaker:versus if we can hang on to them and they want to stay with us.
Speaker:We tend to
Speaker:invest a lot in them and
Speaker:it usually pays
Speaker:off.
Speaker:Final question for you, Kristin, do you
Speaker:have a favorite interview question that you ask that you find really revealing?
Speaker:I don't know if it's revealing, and I feel bad when I ask it, by
Speaker:the way, but I ask it for
Speaker:clarity of
Speaker:thought.
Speaker:I ask them
Speaker:if you were me,
Speaker:why should I hire you?
Speaker:So
Speaker:at the end of the
Speaker:interview, they're through it, they're like,
Speaker:okay, we're just about done, and then you hit them with that one.
Speaker:But I think it, to me, it is not as much what they say, but can they
Speaker:articulate very succinctly
Speaker:in about what I'll call three bullet points what their
Speaker:differentiators are?
Speaker:The reason
Speaker:I ask it is also, it shows me if they've got the
Speaker:marketing gene.
Speaker:Because a marketing person
Speaker:will think about that question in terms of their value
Speaker:proposition and what makes them
Speaker:different.
Speaker:So if they
Speaker:can communicate it in that way, I know that they live and breathe marketing.
Speaker:It's not as much actually what they say, the three or four or five things.
Speaker:But if they're all over the map and
Speaker:they say twenty-seven things, or
Speaker:if they don't distinguish as differentiators or strengths, or
Speaker:if the things they say are things
Speaker:that are very copyable
Speaker:or
Speaker:not benefits-driven, it
Speaker:just helps me distinguish that in
Speaker:one answer.
Speaker:Again, I feel bad
Speaker:asking, but it's not a Pass/Fail question
Speaker:because I also know if I've just had a wonderful interview with them
Speaker:and for some reason that question, maybe they struggle a little bit.
Speaker:Also, you
Speaker:just don't know what kind of day somebody had.
Speaker:You don't know if they're distracted, you don't
Speaker:know.
Speaker:So it's not a Pass/Fail thing,
Speaker:but it is something as part of the interview that I think is
Speaker:an important question to ask and
Speaker:have them answer.
Speaker:That's
Speaker:a really interesting one because I feel like so many marketers are really
Speaker:crappy at marketing themselves, even
Speaker:plenty of CMOs, myself.
Speaker:I was gonna say, myself included!
Speaker:Hahaha, right?
Speaker:And maybe that's
Speaker:- talk about
Speaker:interview questions.
Speaker:I just think one of the hardest questions is "Tell me about
Speaker:yourself."
Speaker:Especially
Speaker:people earlier in their
Speaker:careers.
Speaker:I know I even
Speaker:struggle
Speaker:with it.
Speaker:One interview, actually
Speaker:in the last few years even, it wasn't that
Speaker:long ago.
Speaker:I started
Speaker:off with the professional summary.
Speaker:They're like, "No, tell me about where were you born!"
Speaker:I was like, okay...
Speaker:So I think that one's hard when you don't have a rapport, you don't know
Speaker:somebody.
Speaker:If I do ask
Speaker:that question, I'm more specific and I qualify with, "Tell me about yourself.
Speaker:Are you from the area?
Speaker:What do you want to do
Speaker:professionally?"
Speaker:I try to lead
Speaker:it a
Speaker:little bit.
Speaker:And I'm
Speaker:terrible at that question too, but I have learned that it is important to
Speaker:have your value proposition cold as a CMO and why you're better than others.
Speaker:That's really your
Speaker:goal.
Speaker:And if I'm not asked
Speaker:a
Speaker:question like that, I make sure
Speaker:that at the end of a meeting, an interview, that I take a moment
Speaker:and I summarize and I convey that proactively because that's the last thing
Speaker:they hear.
Speaker:One of the
Speaker:best
Speaker:questions CMOs have asked
Speaker:me in
Speaker:interviews is hey, looking at
Speaker:your scorecard, because there's always a scorecard, where do you see me
Speaker:being strong and what questions
Speaker:do you think would come up?
Speaker:Or where do you see me being on the
Speaker:weaker side?
Speaker:It's great
Speaker:because then I can play back to them what I've heard and then it's an opportunity
Speaker:for them to correct any misperceptions that have come up during the
Speaker:previous hour or whatever
Speaker:it is.
Speaker:Yeah,
Speaker:it's very interesting.
Speaker:Well, thank
Speaker:you.
Speaker:This has been great to chat with you about all aspects of scale.
Speaker:And I love it, every
Speaker:time I talk with you
Speaker:there's always all
Speaker:these little tactical
Speaker:things as well that come up that are really so revealing of the
Speaker:fact that you've done this for a long time in all these different
Speaker:settings and you really love
Speaker:marketing.
Speaker:I always learned
Speaker:from talking
Speaker:with you, big things, small things, so it's great..
Speaker:So thank you very much, Kristin.
Speaker:Likewise, Erica.
Speaker:Thank you, it's been a pleasure.
Speaker:That was
Speaker:Kristin Hambelton, who
Speaker:has steered marketing
Speaker:at several SaaS companies
Speaker:through growth and acquisitions, sharing some
Speaker:of her hard-won learnings
Speaker:for how to solve for scale.
Speaker:Next time on The Get, I'll
Speaker:speak with SaaS marketing expert Guy Weismantel.
Speaker:We'll talk
Speaker:about how to get to alignment with the Board on the role of
Speaker:marketing and when to go fast versus when to go slow when scaling.
Speaker:Don't miss it.
Speaker:Thanks for listening to The Get.
Speaker:I'm your
Speaker:host, Erica Seidel.
Speaker:Hiring great
Speaker:marketing leaders is not easy.
Speaker:The Get is designed to inspire smart decisions around recruiting and
Speaker:leadership in B2B SaaS marketing.
Speaker:We explore the trends, tribulations, and triumphs of today's top marketing
Speaker:leaders in B2B SaaS.
Speaker:This season's
Speaker:theme is Solving for the Scale Journey.
Speaker:If you liked this episode, please share it.
Speaker:For other insights on recruiting great marketing leaders, what I
Speaker:call the 'make money' marketing leaders rather than the 'make it
Speaker:pretty' ones, follow me on LinkedIn.
Speaker:You can also sign up for my
Speaker:newsletter at TheConnectiveGood.com.
Speaker:The Get is produced by Evo Terra and Simpler Media Productions.