BC Marketing Summit 2020: Scaling Marketing from $5M to $50M
1. Get on the same page as the CEO and CFO about the company’s budget. When you’re looking to scale your marketing team, it’s important to sync up with the CEO and CFO on what matters to them — and by how much — in order to determine an appropriate budget. Look at the amount of money coming in from new bookings, the company’s marketing contribution revenue, and discuss how much they are willing to spend on customer acquisition costs.
2. Focus the company’s scaling goals by creating an OKR framework. Make sure everyone knows the company’s objectives, so that the company can expand seamlessly and cohesively. Hire people around those specific goals so that you can maintain a lean and effective team, and be thoughtful with how you balance internal hires and outsourcing. Divide your talent into an investment team and an acceleration team, and as you scale your marketing team, you should add a solid management layer.
3. Grow your company by investing in customer outreach. You can increase awareness of your company through emails, direct mail, hosting events and other channels. Be thoughtful with how you reach out to customers — make sure your content is actually worth reading, and changes according to the trajectory of your company’s growth. Crafting a brand message to effectively market your product will help expand your customer base and grow the company. Using the “Golden Circle” framework to determine “why” your company exists will signal your motives and intentions to customers and win them over.
Andrea Kayal is the CMO at Electric. She has two decades of experience spanning business strategy, demand generation, brand message and design, product, content and customer marketing, customer retention and more. Her teams have been responsible for go-to-market execution and growth. Most recently, Andrea served as CMO at Upserve, where she was responsible for marketing and sales development. Before joining Upserve, she led marketing at Signpost, Sailthru and Lua.