The MKT1 Interview: Growth Marketing, Hiring & Outsourcing

The Evolving Landscape of Growth Marketing: Insights from MKT1 Founders

Emily Kramer and Kathleen Estreich, the founders of MKT1, a firm specializing in strategic marketing solutions, offer expertise extending beyond conventional marketing practices. As previously discussed, their company provides a comprehensive suite of services, encompassing marketing consultation, recruitment workshops, mentoring programs, and even angel syndicate investing.

On July 20th, Kramer and Estreich engaged in a discussion with Danny Crichton, Managing Editor at TechCrunch, via Twitter Spaces, focusing on the dynamics of the growth marketing sector. They presented novel viewpoints, conceptualizing growth marketing as the core engine driving success, while other marketing disciplines serve as essential fuel.

Defining Growth Marketing: Engine and Fuel

Emily Kramer: A useful analogy is to consider marketing as comprising both 'fuel' and an 'engine'. Growth marketing represents the engine itself, with components like content marketing, product marketing, communications, and events functioning as the fuel.

Building this engine involves establishing robust marketing operations, ensuring meticulous tracking, and streamlining output. This encompasses email strategies, advertising campaigns, SEO initiatives, and website optimization – all contributing to guiding audiences through the sales funnel.

Growth marketing extends beyond initial acquisition, supporting customer success and product development teams. Any communication with an audience on a large scale falls within the marketing function. It’s a holistic, full-funnel approach, constantly adapting to changing conditions.

While marketing terminology is often varied, demand generation is frequently viewed as a subset of growth marketing, specifically focused on generating leads for the sales team. However, definitions can differ among marketing professionals.

Current Trends in Growth Marketing (Summer 2021)

Kramer: We are observing two significant shifts. One is the increased emphasis on community, or rather, the re-labeling of long-standing practices as “community-led growth” – essentially fostering conversations to stimulate growth.

“Product-led growth” is another prominent term, essentially a modern descriptor for self-service models. Over the past decade, a trend has emerged of integrating growth marketers with product growth teams into a centralized structure. Now, “product-led growth” encompasses all of these efforts. Marketers are known for rebranding even their own functions.

The Changing Timing of Growth Marketing Hires

Kathleen Estreich: Companies are increasingly considering growth marketing earlier in their development. Previously, hiring a marketer was common at the Series A stage, but accelerated funding rounds are prompting seed-stage companies to explore growth strategies sooner.

The demand for skilled growth marketers is exceptionally high. With companies securing funding earlier and striving for faster traction, the need for these professionals is substantial. Nearly every company we consult with is actively seeking to hire and identify effective growth strategies.

Skillset Demand: Where Supply Meets Opportunity

Estreich: Generally, marketers are in high demand. Product marketing, in particular, is experiencing a surge in interest. We’re seeing many individuals in product marketing roles, as this is often the first marketing hire for a startup. However, companies are seeking candidates with experience beyond large corporations.

Product marketing within larger organizations tends to be product-line specific. In contrast, early-stage companies require a broader skillset, including an understanding of distribution. We encourage companies to seek “pi-shaped” marketers – individuals with deep expertise in two marketing areas, typically product and growth marketing. Finding these individuals is challenging.

The Evolving Role of the Community Marketer

Kramer: We’re noticing a trend of startups seeking a “community marketer” as their first hire. This role is rapidly evolving. Ten years ago, “community” primarily meant social media management, but its meaning has expanded significantly.

Finding individuals with direct experience in this redefined role is difficult. Often, “community marketing” encompasses content creation, virtual events, or customer success. There can be a disconnect between job descriptions and available talent.

My advice to marketers is to carefully analyze job descriptions and assess whether your experience aligns with the stated requirements. There may be opportunities to educate potential employers on your capabilities and help define roles within early-stage companies.

When to Engage a Growth Marketer

Estreich: Founders frequently ask when the right time is to hire their first marketer. Emily and I often advise that the founding team initially serves as the first marketing team, handling early messaging and positioning. The key is to assess your needs and product-market fit.

A product marketer, growth marketer, or pi-shaped marketer is typically the first hire. Ensure you have a product ready for market before bringing on a marketer. Having a product with some initial customer traction is a good indicator.

The first marketer should possess a combination of product marketing and growth experience, someone familiar with your business model and willing to take on diverse tasks and test hypotheses.

The Importance of Audience Understanding

Kramer: Product marketers are instrumental in identifying the optimal niche to target. You should have some initial customers and a starting point. They are essentially audience marketers, focused on communicating your value proposition to a specific demographic.

They help refine your understanding of your audience, explore potential expansion opportunities, and tailor messaging to different segments. However, prioritize product development and launch before investing in this role.

FTEs vs. Outsourcing: Balancing Internal Teams and External Expertise

Kramer: Initially, founders often believe they can handle marketing themselves, utilizing contractors or agencies for specific tasks like content creation or paid advertising. However, this can lead to managing numerous external resources.

Contractors, even skilled ones, require guidance and clear instructions. Managing multiple contractors can be as demanding as performing the work yourself, especially without prior experience. Marketing often requires iteration and feedback, making it challenging to delegate effectively.

Certain areas are well-suited for outsourcing. Paid search is one example, as it requires specialized expertise and constant monitoring. Another is content creation, but only with a clear understanding of your brand and messaging. PR is also a good candidate for outsourcing as you scale, leveraging agency media relationships.

However, internal management is crucial to ensure contractors align with your goals. Without it, outsourcing can be detrimental. Paid search, content, and PR are areas where agencies can provide significant value, but internal oversight is essential.