Introduction
After Product-Market fit, the two biggest reasons 90% of startups fail (Hubspot, 2024) is because of 1. Not having the right team and 2. Poor marketing (LinkedIn, 2023). Therefore, hiring the first marketing professional for your startup is a crucial decision. This hire will shape your brand, reach your target audience, drive revenue, and without sounding dramatic, make or break your company. However, finding the right balance between skills, experience, and budget can be challenging.
Did you know that 22% of startups fail because of poor marketing?
(LinkedIn, 2023)
The 'Doer' vs. the 'Strategist': Striking the Right Balance
One common debate C-level have when hiring their first marketing professional is whether to prioritize a "doer" or a "strategist." A "doer" is someone who excels in executing day-to-day marketing tasks, such as content creation, social media management, and email campaigns. On the other hand, a "strategist" is someone with a deep understanding of marketing principles, capable of creating comprehensive marketing plans and guiding your company's long-term marketing strategy.
When considering the skill set needed for your current tasks, ask yourself:
Do you need someone to implement immediate marketing actions, or are you in a position to develop a long-term marketing strategy?
In most cases, startups, favor a "doer" as they can drive immediate results and ensure your marketing efforts are actively running. This is especially true if you have a limited budget and need to focus on quick wins. Once you have established a strong foundation with a "doer," you can gradually introduce a "strategist" or consider promoting your initial hire into a more strategic role as the company grows.
However, there are huge problems with this approach. It's crucial not to ignore the power of a marketing strategy. If you are just executing with no aim, structure, or true understanding of your ideal customer profile (ICP), it's just busy work that brings in no results. It will just be a matter of time before you will be wondering why you are not yielding anything for all the marketing work that is being done.
There needs to be a strategy in place on who your ICP is, why they need your solution, who the competitors are in the market, how you are going to sell to your ICP, where they go to buy…the list is endless. Without this initial work, you may have hired a “doer” at a more cost-effective rate, but instead end up wasting a huge amount of money on ads, and events, that bring in no actual leads that turn into revenue.
Experience: Seniority vs. Entry-Level
Another significant consideration is the level of experience you should seek in your first marketing hire. While an experienced marketer may come with a higher price tag, they often bring a wealth of knowledge, skills, and a network of contacts. On the other hand, hiring an entry-level marketer might save you money in the short term, but it could potentially limit your marketing effectiveness as you start to grow and look for more proactive guidance from your marketer.
Consider the following factors when deciding on the experience level:
Budget Constraints: Be honest about your budget and the salary you can afford. Entry-level marketers may be more cost-effective, but experienced professionals can often bring more value.
Industry Expertise: Depending on your industry, it might be beneficial to hire someone with prior experience in your niche. This can significantly speed up your marketing efforts and bring industry-specific insights.
Growth Stage: Assess your startup's growth stage. What will your company be needing in the next few years, and therefore who will be able to bring in that value for you?
Also don’t sway too far the other way and fall into the trap of finding someone who’s been in marketing for 20+ years, marketing is changing every day, they may have years of experience, and be following a 10-year-old marketing model, that is never going to succeed in today’s market. Buyers are not buying in the same way as 10 years ago, so don’t count on the years - It’s not always a good thing!
Startup-Savvy Qualities: The Right Attitude for Success
Startups operate in a unique environment where agility, resourcefulness, and adaptability is essential. Your first marketing hire needs to possess not only the right skills and experience but also the right attitude and mindset. This is especially crucial if they're going to have a one-person marketing team, where they'll need to wear multiple hats and be scrappy to make the most of limited resources.
Here are some startup-savvy qualities to look for in your first marketing hire:
Adaptability: Startups often pivot and change direction quickly. Your first marketing hire should be able to adapt to shifting priorities and market conditions.
Resilience: Startups face uncertainty and occasional setbacks. Look for candidates who can bounce back from challenges and keep pushing forward.
Initiative: A self-starter who doesn't need constant supervision is vital for a startup. They should be proactive and eager to take the lead in their marketing role.
Resourcefulness: In a startup, you often have to make the most of limited resources. A marketing hire with a knack for finding creative, cost-effective solutions can be a tremendous asset.
Entrepreneurial Mindset: Someone with an entrepreneurial spirit will approach their marketing role with the same passion and determination that founders have for their startups. They'll treat the business as their own and work to drive its success.
Growth Mindset: A commitment to continuous learning and improvement is crucial. Look for candidates who are open to feedback, willing to learn new skills, and stay updated with the latest marketing trends.
When assessing candidates for these qualities, consider asking behavioral interview questions that reveal their ability to thrive in a startup environment. For example:
"Can you share an example of a time when you had to quickly adapt to changing circumstances in a previous role?"
"Tell me about a challenging project where you had limited resources. How did you approach it?"
By evaluating candidates not only for their technical skills and experience but also for their mindset, you increase the likelihood of finding a marketing professional who can excel in the dynamic and resource-constrained world of a startup.
Building a Team vs. Outsourcing
CEOs have a variety of options in front of them when hiring in marketing and there’s been huge success and scale in CEOs making the decision to move to fractional marketing services. In some cases, you might find that building an in-house marketing team is not the best option due to budget constraints or the current size of your business. Outsourcing your marketing efforts can be a viable alternative.
Did you know that the biggest expense in a startup is payroll, and 25% of startups fail due to hiring the wrong people?
(LinkedIn, 2023)
Outsourcing through fractional marketing offers several advantages:
Cost Efficiency: It can be more cost-effective than hiring a full-time employee, especially if you don't require a dedicated in-house marketer. You’ve heard of 2 for 1, but how about a whole team for 1. For the price of one senior marketing professional, you can have a whole team of experts ready to hit your KPIs and drive in revenue!
Don’t put your eggs in one basket: You are no longer restricted by the skills and capabilities of the hire you make. With fractional marketing services, you get a CMO, VP of Marketing, specialists in lead generation, SEO, digital marketing, social, paid advertising and so much more, all within your budget. As your needs pivot from branding to product marketing to lead generation, your fractional marketing team will morph into exactly what you need to thrive.
Scalability: Outsourcing allows you to scale your marketing efforts up or down according to your needs, without the commitment of a full-time employee. You may have your busy season, where you want to increase your retainer and slow it back to a normal pace for the rest of the year. You can’t do that with a full-time hire.
Fractional marketing is a solution that allows you to have a part-time marketing team working for you without adding to your payroll. You no longer need to worry about their benefits, the additional headcount, or the wasted onboarding time. This can be a strategic way to access a broad range of marketing expertise while managing your budget effectively. Learn more here
Conclusion
In conclusion, choosing your first marketing hire is a pivotal decision for your startup. By understanding the balance between skills, experience, and budget, and considering startup-savvy qualities, you can make an informed choice that sets your marketing efforts on a path to success. Whether you opt for a "doer" or a "strategist," an experienced marketer or an entry-level candidate, or decide to explore fractional marketing, the key is to align your choice with your current needs and future growth plans.
It's essential to remember that, aside from budget, marketing success is about the right people and a commitment to continuous improvement. 70% of all businesses fail so focusing on your marketing strategy is a fundamental part of ensuring your business's long-term success (Inc, 2023). By making a well-informed first marketing hire, you're taking a significant step toward joining the 30% of businesses that thrive and avoid the common pitfalls. Make your choice wisely, invest in the right talent, and watch your startup grow and prosper.
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