How to Hire a CMO with Matt Blumberg of Bolster

2022-09-08

The reason why people think that hiring is “really hard” is because interviews are conducted without a defined set of criteria to which a person is being evaluated. This especially rings true when interviewing outside your personal competency level. Most often when hiring a CMO or CRO. In order for any interview to be effective, there has to be two components by which a person is being judged. Skills & Value Alignment. Focusing only on skills may solve your immediate problem but often creates more problems because the person disrupts your culture. What I have learned is that culture is driven by value alignment. So, understanding how a person aligns with your values in an interv...

In order for any interview to be effective, there has to be two components by which a person is being judged. Skills & Value Alignment.

Focusing only on skills may solve your immediate problem but often creates more problems because the person disrupts your culture.

What I have learned is that culture is driven by value alignment. So, understanding how a person aligns with your values in an interview is the most important criteria that needs to be evaluated to make a strong hire.

Guest Bio:

Matt Blumberg is a technology entrepreneur, business builder, and CEO of Bolster, an on-demand executive talent marketplace that helps accelerate companies’ growth by connecting them with experienced, highly vetted executives.

Matt has been recognized as one of New York’s 100 most influential technology leaders by Business Insider, by Crain’s as one of New York’s Top Entrepreneurs, and by Ernst & Young as an Entrepreneur of the Year finalist.

Before Bolster, Matt built businesses and worked in marketing, consulting, and venture capital. He is the author of Startup CEO, Startup CXO, and Startup Boards.

TODAY WE DISCUSS:

The challenge of hiring a CMO
The playbook to hire a CMO

HIRING STORY:

Over indexing on culture swinging to resume
Balance of cultural fit and competencies
- Like dating…each one corrects the mistakes of the previous one
- Over-indexing on culture - “nice” - leave replacement
- Over-indexing on resume - “Vishnu” and “It/Out”

PROBLEM: Challenge?

CMO at RP and Defense Against the Dark Arts
- I had been a CMO
- CMO is a hard role - expectations are all over the place, function has splintered (chart), marketing can become a dumping ground - french fry problem
- Marketing to marketers
- The myth of the playbook and Roth asking for headcount and budget - “plan to overspend and overdeliver”

Why is this important to the company?

Disruption
Cost
Time

Rick’s Nuggets

Positioning Problem
- Desire your opportunity
- A, B or C player

SOLUTION: How do we solve the problem?

The final playbook that worked for me for hiring CMOs - three “aha” moments

Marketing can quickly be consumed by the “French Fry problem”
- Define the French Fry problem and marketing as a litany of tactics
- Moving marketing from the tail to the nose - what’s the real role of marketing? Brand and Audience, so start with strategy and ROI
- Making limited room for French Fries
- Producing the ability for others in the organization to make their own French Fries
The realization that no one person can be the master of all channels
- Build list of competencies (channels, etc.)
- Build job roadmap to see how it evolves over time
- Make sure all critical competencies are covered somehow
- Focus on making sure the overall machine is optimized
The critical nature of building a Leadership pipeline to grow CMOs
- Focus on making sure the leader is an intellectually curious orchestator
- Leadership development at the next level down
- Cross-training of all the channels and elements of the CMO role - orchestration, hiring/leading, ROI focus, customer service corner around French Fries
- The machine becomes something where the CMO is at the pyramid on top, not holding up an inverted pyramid and hoping it doesn’t topple

Rick’s Nuggets

Values driven interview
- Do we operate from the same place?
- Are you REALLY proactive, rebellious, curious?
Skills driven interview (working session)
- Transferable skills
- Growth
- Details

Key Takeaways that the Audience can plug into their business today! (Value):

Find that right balance between culture and values fit and technical competency
Help your people architect their own career as if it is a jungle gym and not a ladder
(a great way to retain people)

Guest Links: