MarTech Podcast ™ // Marketing + Technology = Business Growth
How To Stop Starvation Marketing
Nov 13, 2024
Doug Bell, CMO at Chief Outsiders, and Christine "Chris" Slocumb, Founder of ClarityQuest, dig into the pitfalls of starvation marketing that plague B2B SaaS companies. They explain how underfunded marketing strategies can derail growth and the importance of balanced investment in marketing and R&D. The duo emphasizes the need for clear metrics to justify marketing budgets and shares historical insights that illustrate marketing's critical role in business success. Their conversation is a call to elevate marketing's status in the tech and healthcare sectors.
19:09
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Quick takeaways
- Starvation marketing results from underinvestment in marketing, which hinders growth and risks long-term success, especially in technology-focused companies.
- Successful companies in healthcare and life sciences allocate a significant percentage of revenue to marketing, achieving strong returns on investment and overall performance.
Deep dives
Understanding Starvation Marketing
Starvation marketing refers to a misallocation of resources where organizations prioritize technology and engineering over strategic marketing efforts. This concept originated from experiences in B2B contexts, particularly within tech companies, where marketing budgets are significantly minimized in favor of R&D and sales. The podcast highlights that this is not merely circumstantial due to economic pressures but is often systemic, with companies underestimating the value marketing brings. Without adequate investment in marketing, organizations often find themselves struggling to achieve growth, risking long-term success even during favorable economic conditions.
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