Common Missteps Early-Stage Companies Make
Monique has 15 years of experience as a Revenue Growth Marketer, specializing in B2B technology. She has worked for freshly minted startups through high-growth startups, privately owned legacy SMEs, and even globally-acclaimed publicly traded brands. Monique has done growth marketing from both sides of the coin—as an outsourced agency/consultancy and an in-house employee. To say that she has seen it all would be a gross understatement. Monique has advised companies to avoid the mistakes many early-stage startups make when it comes to marketing operations and strategy. “I’ve seen many early-stage companies make missteps in their hiring processes early on. Many can’t figure out how to hire and the right moment to do so, especially when it comes to the more strategic roles. For example, many are on the hunt for a catch-all marketer. They want a person to be their marketing strategist who, in time, can transition to be the VP of Marketing. However, that’s a bit far-fetched. When you’re a startup, you may not be able to afford someone who can do it all unless you have significant funding. The catch-all marketer is hard to find, and it’s asking a lot from someone you might not be able to afford.” Many startups set their sights on unicorns that can do everything. They want both a player and a coach all in a single package—someone who’s versed in digital marketing, can hire and manage, and even stay on top of marketing operations tasks while they’re at it. Monique agrees that instead of searching for the elusive unicorn, it makes a lot of sense to outsource seasoned consultants on a fractional basis. “I see a divide in marketing where people either bring in a strategist, a higher level directional lead, or even a technical unicorn. However, full-time middle management isn’t necessary for early-stage companies. Companies at this stage see more of a benefit by outsourcing fractional talent at the top of their game. I know in the past, freelancers didn’t have the best reputation, but that has changed. Consultants have to constantly pay attention to emerging trends to retain and attract new clients.” Some businesses think they’re ready for a VP of Marketing, but that VP may start hiring tactical roles but forget the importance of marketing operations. When the executive team asks for insights on whether or not what marketing is doing is working, the VP of Marketing finds themself in a bad spot. This scenario can be avoided if business leaders put growth-minded marketers in place before hiring an executive who hasn’t experienced an early-stage environment.
The Ideal Marketing Organization & How it Evolves as a Company Grows
Companies have to ask plenty of questions before determining whether or not they need more marketing resources and even which marketing resources are suitable for them at a particular stage. Monique shared her opinion. “It again all boils down to the question, is there any marketing talent on the team right now? Assuming the answer is no, then I think that it’s wiser to work with a consultant or a fractional CMO to evaluate your growth path early on. In one company, you might need a VP of Marketing in 6 months, and in another, a year and a half. Having some consultant or agency come in to help you figure out your growth trajectory and hiring plan is smart at the beginning.
The Roles Freelancers & Agencies Play in Growth Marketing
There are some key flags that it might be a good time to bring in a consultant. The first scenario is when you need expertise in a niche specialty short term. If you’re dealing with data privacy, and want to be compliant across the board globally, then it’s a great time to bring in somebody who specializes in that. As Monique explained, “When you’re looking at roles consultants play best in, strategy is one of the strongest areas. Consultants and agencies can help you figure out which path to follow directionally. The best agencies also tend to deliver an element of execution, which is the other area freelancers or contractors can excel at: technical execution.
For more on getting the most out of external marketing resources, listen to the full Revenue Marketing Report episode at the top of the article or anywhere you podcast. For comprehensive tips on how to work with those resources, check out Monique’s guide here.