#126: Career | How to Navigate Early-Stage Marketing and Your Compensation Package (with Emily Kramer and Kathleen Estreich from MKT1)
Mar 21, 2024
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Learn about early-stage marketing and compensation strategies from industry experts Kathleen and Emily. Dive into hiring first marketers, building marketing teams, and understanding equity compensation. Get insights on career growth, startup challenges, and the future of marketing trends.
Early-stage startups should focus on hiring a well-rounded marketer as their first hire for effective marketing strategies.
Startups can attract top marketing talent by emphasizing autonomy, impact opportunities, and cultural alignment alongside compensation.
Transparency in equity information during the hiring process is vital for candidates to make informed decisions about joining a company.
Deep dives
Factors for Successful ABM Programs
Accurate target account lists with verified contact data, actionable CRM data with reliable enrichment, and using automated outbound emails alongside ads are vital for successful ABM programs.
Experience and Background of MKT1 Co-Founders
Kathleen Estrich started her marketing career at Facebook, Box, Intercom, and a small startup called Scalar before co-founding MKT1. Emily Kramer began in agencies, transitioned through various startups, and also co-founded MKT1. They emphasize the importance of having a pie-shaped marketer as the first hire for startups.
Recruiting Marketing Candidates for Startups
Recruiting top marketing talent for startups involves outbound targeted approaches with compelling messages about the company's vision and impact. Startups may not always compete solely on compensation but can attract candidates through autonomy, ownership, impact opportunities, and aligning on culture and work methods.
Evaluating Equity Transparency
It is crucial for companies to provide transparency regarding equity information to potential candidates. Lack of transparency, especially in areas directly impacting a candidate's compensation, reflects poorly on a company's culture. Transparency in the hiring process is essential as it sets the tone for the overall company transparency. Candidates should pay attention to what information companies share as it directly affects their ability to make informed decisions about joining a company.
Importance of Understanding Equity
Equity is emphasized as a crucial aspect of compensation when considering a job. While equity provides potential upside, it is important to understand that it is not guaranteed like cash. Candidates are advised not to accept lower salaries in exchange for equity, emphasizing that cash remains significant. The dynamics of early exercise and extended exercise windows for equity options are discussed, highlighting the importance of these factors when assessing the potential financial implications of equity compensation.
Kathleen Estreich and Emily Kramer are the co-founders of MKT1. They advise founders, recruit and advise marketers, and invest in SaaS startups, and join Dave on this episode of the Exit Five podcast to talk about early-stage marketing strategy and hiring (Kathleen and Emily have held roles at Facebook, Box, Intercom, Scalr, Asana, Carta). They also have strong opinions about marketing compensation and how to understand your comp and equity package if you're a Seed or Series A marketing leader.
Timestamps
(00:00) - Intro
(07:58) - Guest Intro: Kathleen Estrich and Emily Kramer, co-founders of MKT1
(12:58) - Early Stage Marketing Compensation and Benchmark Insights
(17:58) - Hiring First Marketers: Traits and Skills to Look For
(22:58) - Building a Marketing Team: From Hiring to Scaling
(30:39) - Equity Compensation: Understanding and Negotiating Your Stake
(35:39) - The Role of a Marketing Leader: Hiring, Building a Brand, and Setting Strategy
(40:39) - MKT1's Mission: Supporting Marketers in the Startup Ecosystem
(45:39) - The Future of Startup Marketing and Compensation Trends
(50:39) - Advice on Career Growth and Navigating Startup Challenges
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