Hey everyone! Welcome back to another great episode of the Startup Junkies Podcast. This week, Jeff Amerine and Matthew Ward have a lively conversation with Mark Donnigan, founder of d-launch. d-launch is a marketing consulting firm Mark started in 2010 to help startup companies crush their business objectives through marketing architecture. In this episode, you will get to hear about Mark’s impactful journey from sales to opening his own marketing consulting firm, his approach to picking your first marketing hire, and why there should not be a demand generation function. Tune in for these words of wisdom!
Shownotes
(1:01) Introducing Mark Donnigan
(4:46) Go-to market engineering
(10:51) The importance of a startup’s first marketing hire
(19:30) Demand generation marketing
(23:35) The difference in B2C and B2B sales
(31:00) Mark’s advice for his past self
Links
Quotes
“The high failure rate of startups is due largely to the fact that – not because what was built didn’t work, or didn’t fulfill the promise…but it’s because they failed to educate the market as to the problem that this invention would solve.” (5:52)
“In some ways, a lot of the B2C motions are, are, are, the tactics are different in B2B. It’s true, but at the end of the day, I’m still selling to a human. And if that human doesn’t connect with me, as another human even at the most basic relationship level, I’m not going to close the sale” (23:59)
Sales and Marketing Go Together Like PB&J
This week, Startup Junkies podcast connected with Mark Donnigan from d-launch, a marketing and business growth firm focused on helping startups. They discussed all things related to marketing for startups, including about go-to-market engineering and how startups can make an excellent first marketing hire.
Go-To-Market Engineering
Many startups hit a metaphorical wall around the point when they are preparing to go to market. They have created a viable product, but they do not have a plan for marketing their product or company. Often, the solution is more simple than they realized.
The first step in engineering a go-to-market strategy is defining the problem that your product is addressing. By outlining the issue being addressed, you allow yourself to paint a picture that outlines the importance of a solution to the problem. The solution is your product, proving its importance and value to the market.
“The high failure rate of startups is due largely to the fact that – not because what was built didn’t work, or didn’t fulfill the promise…but it’s because they failed to educate the market as to the problem that this invention would solve.” (5:52)
A key component in creating a successful go-to-market strategy is understanding the ecosystem that your business exists within. It is crucial to know how the industry thinks, acts, and works. Are the businesses in your industry conservative, or are the innovative companies that adapt quickly? How do businesses and individuals within the ecosystem communicate? What types of technology track well in the industry, and where is the industry headed?
When you have answers to these questions, you have a better grasp of what is needed to market successfully in your industry. It also allows you to speak better the language of your customer, which is a vital piece of a successful go-to-market strategy.
Making the First Marketing Hire
One of the most significant decisions in a startup’s existence is making its first marketing hire. Many companies make a couple of common mistakes because they seem like the right common-sense answers.
One of these mistakes is hiring a superstar from a large, successful company that has recently grown exponentially and seen expedited success. While this seems like a good decision by conventional wisdom, the truth is that the superstar was succeeding with 100 other people around them. While they may be good at their job, it is an entirely different animal to succeed on a one-person marketing team. If your startup is determined to hire someone from a company seeing booming success, look for someone who was one of their first marketing hires for that company. It is beneficial to find someone who can create a marketing strategy and scale their department as well.
Another common misstep is hiring someone who is at an earlier stage in their career. While this is less expensive and will provide budget relief, the person is often wide-eyed and without a comprehensive marketing strategy.
A lower-cost solution for creating a successful marketing strategy is utilizing consultants and advisors. Talk with consultants about creating a strong marketing scheme, and hire consultants and contractors to set the plan in motion. Then, when you have the budget to pay someone top-dollar, you can hire for a full-time posit
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