Millions of people know about the "pay gap," or the average difference in wage earnings for men and women in the USA and throughout the world. Relatively few people know about the "equity gap," or the difference in ownership stake between men and women who work at early-stage companies. Emily Kramer (LinkedIn | Twitter), VP of Marketing at Carta, is trying to change that.
On this episode of Marketing Trends, Emily talks about the data behind the equity gap and how to address it, driving startup growth, leadership lessons she has learned, how to succeed in a head of marketing role, and much more.
5 Key Takeaways: - Everyone should know what questions to ask and how to negotiate when getting hired, especially women in tech. - "We're trying to help arm employees who haven't worked at tech companies to understand what's going on, and help level the playing field." - Emily Kramer - "We need women founders. We need women in earlier positions. We need women in engineering roles because that's where equity is created -- at the beginning."- Emily Kramer - During the hiring process, don't give your requirements because you may be below where they are coming in. Ask questions, and if they don't have a system, that should be a red flag. - "Calculate out what you think the possible exit scenarios are and how much you'd get in those situations to compare your multiple offers or what you had before in your previous role. Try to gather as much information possible." - Emily Kramer
Bio: Emily Kramer has been building Carta's marketing team for the past year and a half as their VP of marketing. Emily joined Carta to help bring more diversity and transparency to the cap table. Prior to joining Carta, she has built and led marketing teams at Asana, Ticketfly, and Astro (acquired by Slack), and attended Tufts University and Harvard Business School.
Opinions expressed in this podcast are those of Emily Kramer alone and do not necessarily reflect the views of Carta.
Notes & Quotes:
Emily's Background - (2:00) - After graduating from Harvard Business School, Emily stumbled on a job at an ad agency when she was twenty-two. - She had just moved to San Francisco on a whim, without a job. - Emily knew she wanted to work at a tech company in marketing. She had always had a mix of creative and analytical skills.
What Is Carta?- (4:00) - Carta helps companies, VCs, and employees manage equity. - For companies, Carta helps them manage equity compensation and help them stay compliant. - For VCs, they help them manage their portfolio, keep track of how things are going, and all things related to equity in the private markets.
Discussing Equity Compensation - (6:00) - "We're trying to help arm employees who haven't worked at tech companies to understand what's going on and help level the playing field." - Emily Kramer - You need to know what questions to ask when you're getting hired because companies aren't always forthcoming with information that you may need. - Too many people focus on fitting a job description, rather than hiring strong candidates. There should be serendipity in the early phases of hiring because that is vital in shaping a team. - A lot of people have different expectations and ideas as to what marketing is, so make sure to ask that in the hiring process. - According to Emily, it's essential to negotiate equity just the way you would negotiate pay. - "Calculate out what you think the possible exit scenarios are and how much you'd get in those situations to compare your multiple offers or what you had before in your previous role. Try to gather as much information possible." - Emily Kramer
Emily's Process in Building Teams- (28:00) - When building a marketing team, Emily does not follow a playbook. Instead, she looks internally at the team and externally at the company itself. - Externally, figure out how people are finding your product and what your competitors are doing. - Internally, look at what your company can be good at. Pay attention to who you already have in the company, even if you're the only marketer, there might be other people in the company that can help. - When hiring for positions that need to be filled, Emily looks for a generalist at the beginning. Typically, individuals don't stay a generalist forever, so they should have some interest in moving into a specialty.
Advice for Marketers- (45:00) - Product marketers will be focused by audience because the buying process changes between audiences. It is important to be as nimble as possible because sometimes there is something launching for one audience, and nothing for the other. - “People usually have a channel specialty, whether that be, email, ads, or doing things in product, but it's also nice for them to own an audience. You own this audience and you're responsible for it. For senior levels managers, you're responsible for an audience and coming up with campaigns for that audience.” - Emily Kramer
Pardot Lightning Round - (55:00) - Emily is very impressed by Zendesk’s outdoor ad campaigns lately. They are very creative and have been doing a great job at advertising their rebranding. - Flash Boys was is a great read if you are looking to learn more about how markets work. - “I love when things can be automated in a way that feels human. I love what's happening with Drift. I love personalization of landing pages.” - Emily Kramer - “The number one thing that I tell people is to add value with every interaction. Don't send out something that doesn't add value. Even an email, put a link to something that people would find valuable, even if it's not our content.” - Emily Kramer
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