Welcome back to another episode of Blame It on Marketing, where we delve into why some businesses find themselves perplexed when reduced marketing budgets lead to stagnant or declining growth. This post is inspired by a recent conversation between our hosts and Sales and Marketing PRO Angeley Mullins.
As Ruta and Emma candidly put it, "If you don't invest in marketing, why do you wonder why your marketing doesn't work?" It's a reality that's all too familiar in today's business landscape, especially for early-stage companies navigating turbulent waters with tight budgets and high expectations.
Angeley Mullins, Chief Commercial Officer at Resourcify, explained a common dichotomy in early-stage companies, especially those at seed through Series B funding stages, regarding how marketing should be integrated into their go-to-market strategy. She noted,
"...companies that invest in marketing have a longer-term growth trajectory and actually more revenue over time."
There's wisdom in appreciating the distinction between immediate performance marketing and long-term strategic investments like brand-building and product positioning.
From Angeley's perspective, the notion of expecting immediate returns from every marketing dollar is a dangerous game. As she put it,
"If [investing a dollar to get out five clients] worked that way, everyone would do it and everyone would be successful."
Instead, successful marketing requires understanding the symbiotic relationship between sales and marketing—where both hands work together rather than in competition.
In many boardrooms, as Emma humorously recounted, the elusive "Leads Tap" is something many believe can simply be turned on. Yet, throughout the episode, a recurring theme emerges: understanding the full customer journey—from initial awareness through to purchase—is vital. Marketing isn't about a miraculous quick-fix but a sustained effort that builds brand reputation and customer trust over time.
Angeley shared insights from GoDaddy's strategic shift, emphasizing that understanding a company's audience is paramount. Marketing shouldn't be neglected in favor of over-bloated sales teams, which can often lead to inefficiencies and scalability issues. As she described, focusing solely on sales without a marketing backbone is like running a relay race without the first three runners.
Ruta gave an example from PatSnap, where despite delivering double returns on marketing expenditures, the team struggled for recognition within a sales-led company culture. This emphasizes the need for senior leadership to understand and integrate the value of marketing into business strategies.
Angeley left us with wise words, connecting success to understanding customer needs first. By anchoring discussions in customer insights rather than isolated departmental budgets, marketing becomes a value-adding partner, not a cost center.
For founders, CEOs, and board members, the critical takeaway is straightforward: Cutting marketing budgets might save you pennies today, but it could cost you dollars tomorrow. The adage Angeley shared rings true, "Marketing is not a light switch that you can turn on and off." If companies seek sustained growth and brand resonance, investing in marketing is not just necessary; it's prudent business strategy.
As you digest these insights, consider how your own company values marketing and the potential growth investments in this area could unlock. Echoing our hosts and Angeley's sentiments: If you aren't investing in marketing, maybe it's time to rethink and reinvest.