Speaker:

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.