On this podcast episode of the Unlearn Podcast, listen in to Doug Landis as he delves into marketing strategies in the digital age, discussing challenges and innovations with Asher Mathew and Kelly Sarabyn. They touch on startup layoffs and acquisitions in the venture capital industry, shedding light on the experiences of B2B SaaS investment firms and the evolving landscape of founder mental health. The conversation expands to include AI funding, sales and marketing challenges, and the evolution of CRO roles in mid-stage companies. Additionally, they explore career progression for C-level executives and the importance of community building in marketing. Insights into partnerships and ecosystems in go-to-market strategies round out the discussion.
00:00 - Intro
01:10 - Startup layoffs and acquisitions in the venture capital industry
04:55 - Founder mental health and networking challenges
08:11 - Startup founder qualities and VC funding in a changing economic environment
12:08 - AI funding and company growth strategies
18:06 - Sales, marketing, and customer success challenges in the current market
22:20 - Evolution of the CRO’s role in mid-stage companies
26:40 - Career progression for C-level executives in tech companies
30:59 - Marketing leadership challenges and targeting the right audience
35:59 - Marketing strategies and attribution
41:28 - Community building and network growth in marketing
47:21 - Partnerships and ecosystems in go-to-market strategies
AI funding and company growth strategies.
The significance of strong fundamentals, notably unit economics, for successful fundraising is emphasized. It's suggested that companies demonstrating impressive market potential, economics, and team strength could pique investor interest even before reaching the $1 million milestone. Additionally, it's noted that AI companies often resell existing algorithms like ChatGPT or large language models rather than offering entirely unique products. The discussion also touches upon the heightened diligence process for AI technology companies, stressing the importance of having differentiated AI capabilities and defensibility.
Sales, marketing, and customer success challenges in the current market.
The challenges encountered by various go-to-market functions, such as sales, marketing, customer success, and partnerships, during the initial phases of a company's growth are explored. It's highlighted that within these functions, sales executives and salespeople are grappling with difficulties related to pipeline generation, conversion rates, and burn rate. As a result, there is a notable occurrence of executive turnover and the emergence of cultural issues within the company.
Evolution of the CRO’s role in mid-stage companies
In mid to late stage companies experiencing a decline in revenue, there is a notable demand for CRO’s and CSO’s. It's noted that sales leaders lacking experience in navigating downturns present a significant challenge, prompting the necessity for more seasoned CROs. This sentiment is echoed by another party, who stresses the importance of preserving existing revenue streams and elevating the capabilities of customer success leaders.
Career progression for C-level executives in tech companies
The distinction between Chief Customer Officers (CCOs) and Chief Revenue Officers (CROs) is highlighted, with CCOs typically overseeing customer experience, support, and implementation, while CROs focus on driving revenue through commercial transactions. It's observed that transitioning from roles like VP of Business Development or partnerships to direct selling positions is rare, prompting interest in understanding the factors contributing to successful transitions. Another perspective suggests that individuals who have experienced multidisciplinary growth within a company tend to be more successful than those from a single function, citing examples of executives who have navigated various roles. Additionally, it's proposed that innovative companies with robust leadership structures may offer executive rotations, facilitating exposure to diverse functions and fostering a well-rounded skill set.
Community building and network growth in marketing
The relationship between community and partnerships is discussed, highlighting the challenge leaders face in elevating themselves and adding value to the business. Building and managing a community is acknowledged as complex, with suggestions that leveraging existing communities can aid in brand scaling and network expansion. The importance of matching and routing in go-to-market strategies is emphasized, with the assertion that aligning leads, messaging, customer experience, and partnerships can greatly enhance the performance of Chief Revenue Officers (CROs) and Chief Marketing Officers (CMOs).
Partnerships and ecosystems in go-to-market strategies
The challenges of matching in different contexts, such as consumer and B2B marketplaces, are discussed by Asher and Doug. Kelly expresses doubts about partnerships, mentioning concerns about perception issues and possible delays in deals. However, Kelly also suggests that partnerships can add value with minimal effort and conflict, but there's a perception that it's more challenging than necessary. Asher agrees, emphasizing the need for leaders in partnerships to articulate clearly how they can be beneficial, rather than relying on external factors to convey this message. Kelly further expresses frustration with the term "partner" and proposes using "network" and "community" as alternative descriptors.
On the Importance of Go-to-Market Strategy: "My world is kind of interesting in that I sit under the investment committee. I help us to source deals, do diligence on deals. But more specifically, I get in the weeds once we invest in a company to help them figure out how are they going to scale and grow on the go-to-market side" (Doug Landis, describing his role and emphasizing the strategic importance of go-to-market strategies for growth).
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