122: Emily Kramer: The rise of pi-shaped marketers and picking future unicorns

What’s up everyone, today we have the pleasure of sitting down with Emily Kramer, Co-Founder at MKT1.

Summary: Emily explored the convergence of marketing, investment, and startup growth, delivering actionable insights for marketers, founders, and investors. When picking future unicorns, she attributed timing and luck but stressed the importance of selecting startups that value marketing and whose products meet real needs in growing markets. Emily advocated for rigor in selecting martech tools that align with business goals, enhancing efficiency without compromising content quality. She also highlighted the need for "pie-shaped" marketers in startups, professionals who combine deep expertise in at least 2 areas like growth and product marketing, but also with a broad foundation. Additionally, Emily underscored the value of leveraging marketing skills in angel investing and internal advocacy, enhancing both startup viability and internal team alignment.

About Emily

• Emily started her career in Media planning at Ad agencies in SanFran and also had a stint in growing a programmatic ad platform
• She went back to school to complete an MBA at Harvard and joined Salesforce as a Product Marketing MBA intern before later joining a startup called Ticketfly as an early marketing team member 
• Emily then made the mega move to Asana as Head of Marketing as the 35th employee where she built and scaled the marketing team from 1 to 25 in less than 4 years
• She moved on to an email app startup called Astro Technologies as VP of Marketing where she led the company to Series A funding and won the esteemed ProductHunt Golden Kitty award for mobile app of the year in 2017 - this startup looked a lot like the AI productivity apps popping up today, a few years too early.
• Emily then joined Carta as VP of Marketing where she grew the team from 2 to 30 and sat on the exec team and reported directly to the CEO. While there she co-authored a ‘gender gap in equity’ study which was featured in over 50 publications
• Emily then kickstarted her entrepreneurial path and started dabbling in Angel investing. She took First Round’s Angel Track which helped turn her investing hobby into a new career where she’s now invested in over 50 companies as an angel investor
• She joined Empower Work as a Board Member, an NPO providing text support for vulnerable workers facing challenging work situations
• In October 2020, Emily made the plunge and launched (market-1) MKT1 with her co-founder Kathleen, initially as an advisory business, then as a newsletter and community aimed at helping founders and marketers scale their teams and later as a Capital fund helping early-stage B2B startups.

The Secret to Picking Future Unicorn Startups

Emily shared her journey through the startup world, sprinkled with good timing and fortunate circumstances. She entered business school just after the 2008 financial crash, a tumultuous time that surprisingly set her up for success in the entrepreneurial realm. By the time she re-entered the workforce, the economy was bouncing back, providing a fertile ground for new ventures. Her departure from startups came just before the COVID-19 pandemic, sparing her from the subsequent turmoil many companies faced.

Her method for evaluating potential startups has evolved but is based on a simple principle: the importance of a solid product that the target audience would endorse, even if they wouldn't use it themselves. Emily stresses the need for a product to be compelling to those it aims to serve, a criterion often overlooked by non-marketers. A great market and a capable team are also on her checklist, but a unique selling point for Emily is the company's marketing strategy. She looks for what she now calls "marketing advantages," such as a unique story, SEO potential, or network effects that could give a company an edge.

Emily's first startup job was driven by her love for music, working at Ticketfly, where she was immersed in the scene she adored. This role merged her personal interests with professional opportunities, which was fulfilling but also a learning curve. It led her to pivot towards a more B2B focus, taking her to Asana. There, she saw early traction and a team capable of winning on multiple fronts, confirming her belief in the startup’s potential.

She advises marketers to think like investors when considering startup roles. It’s not just about a paycheck; it’s about believing in the product and the team. This mindset shift is crucial, especially as one’s career progresses and the stakes get higher. Understanding the company's vision and its alignment with marketing is essential—not just for the company's success, but for personal career growth as well.

Key takeaway: For marketers eyeing startup opportunities, it's crucial to evaluate the company with a discerning eye: Is the product something people genuinely need and love? Is the market ripe for growth? Does the company understand and value marketing? These factors are not just important for the company's success but are critical for marketers to ensure they invest their time wisely and contribute to a venture that grows and values their skills.

Advancing Gender Equity in Venture Capital

At MKT1, Emily has taken a proactive approach to shaping the landscape of venture capital through a lens of equity and inclusion. She emphasizes the importance of diversifying investment not only as a moral imperative but as a strategic advantage. MKT1 actively sources deals from a variety of channels, prioritizing companies led by women, people of color, and underrepresented minorities. Emily believes these groups often outperform the average founders, bringing unique perspectives and solutions to the table.

Their commitment to diversity is evident in the composition of their fund. For a considerable period, the gender distribution among those holding equity has been evenly split, a rare achievement in the venture capital world. This balance also extends to the fund's investors, many of whom are marketers, showcasing a diverse group of individuals backing their vision.

MKT1 doesn't hold a formal mission statement on diversity; instead, they integrate these principles into the very fabric of their investment strategy. They aim to mirror the diversity of the market itself, ensuring the products they invest in are reflective of the consumers they serve. This intrinsic approach to diversity is part of what Emily describes as their 'DNA'—a natural element of their operation.

Emily also collaborates with Empower Work, a support line for workers facing challenges in their jobs. This initiative primarily aids lower-income individuals, though it's accessible to anyone needing guidance. Recognizing her own privileged position to be able to address injustices legally, Emily is committed to extending support to those who lack the means to challenge their adversities.

Key takeaway: Effective advocacy for diversity in the workplace extends beyond mere numbers. By embedding a commitment to equity into every facet of business operations—from investment strategies to community support—leaders can create profound, lasting change. Emily's work illustrates how maintaining a balance in investment portfolios and supporting initiatives like Empower Work not only champions diversity but also enhances the overall business landscape.

Fundamental Principles For Picking Martech Tools

Emily brings a unique dual perspective as both an investor and a marketer to the challenge of navigating the crowded martech landscape. When it comes to implementing new technologies, the allure of the latest tools can often lead to "shiny object syndrome," where the excitement of poten...