Episode Transcript
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(00:15):
All right.
Welcome everybody to anotherepisode of Sales Pipeline Radio.
I'm your host, Matt Heinzvery excited to have you here.
We've got a great guest today.
Great topic.
Lots to talk about.
If you are joining us live inthe middle of your work day, the
middle of your work week, thankyou so much for being part of this.
If you are watching and listening ondemand, thank you so much for continuing
to listen, subscribe, download.
(00:36):
We are 373 episodes in, Chris, and closingin on a quarter of a million downloads.
So thank you everyone who continuesto listen and check this out every
episode Sales Pipeline Radio is alwaysavailable past, present and future at
www.salespipelineradio.com With us today.
I consider you a friend, Chris, we'veknown each other for a long time.
Founder, CEO of Demandbase been in theB2B marketing space for a long time.
(00:59):
Currently founder and CEOof Channel99, Chris Golec.
How you doing, man?
Great.
Thanks for having me.
Glad to be here.
Why do you keep coming back?
You know, starting any company, let alonea tech company, let alone a SaaS company.
I've had people describeit to me as chewing glass.
And as a founder in a differentbusiness that resonates sometimes,
(01:20):
what is it about entrepreneurship?
What is it about startupsthat keeps you coming back?
Yeah, it's just a passion for innovationand building and making a difference.
I started my career at DuPont and wenton to GE and then it was at GE where I
met a couple of guys that we started asupply chain software company back in 1995
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when everybody was on dial up internet.
So I've been doing this for 30years and I seek out opportunities
where something's just fundamentallybroken and where technology can make
a big impact it's exciting to me.
Watching from a little bit of distanceI think one of the commonalities I
notice about the companies you buildthe teams you run It's just the
(02:05):
quality of the people like you havegood people at the companies that you
run, I imagine that is a priority.
Can you talk a little about peopleand culture and why that's important.
Yeah, and thanks for recognizingthat is important to me.
You know a software company theasset is the people And, you hire
great people, you'll find theopportunity to make the products and
keep customers happy and growing.
But it was early at, Demandbase,we're probably 25 people.
(02:29):
And I had this like slide inthis mission to hire, world
class talent and retain talent.
And it takes more than a slide, right?
You got to really invest in it.
And we did that at Demandbase andit's not about the free snacks.
It's about transparency inclusion.
It's about having a diverse workforce andreally listening to people and sharing.
(02:52):
And we were ranked, I think inthe top 20 places to work in San
Francisco for 10 years in a row.
I think in 2016, we were in the top 10on glass door out of 500, 000 companies.
So pretty awesome stuff.
And it's an accolade to the company.
not necessarily to me becauseit's all the employees that make
it a great place to work as well.
And, still today, like even thoughpeople have moved on to different
(03:16):
roles and opportunities, I stillstay pretty connected to a lot of
the Demandbased crew, so to speak.
Yeah, no, I bet.
That's awesome.
you mentioned, always wanting tolook for things that are broken.
And I feel like any conversationwe have in B2B marketing, no matter
what the topic, ends up coming backto measurement and attribution.
It's hard and it's getting harderas the go to market motions
(03:36):
we're running get more complex.
Of all the problems that do exist outthere in B2B and there are many, why
was measurement the focus area foryou that you dug into with Channel99?
Yeah, I think measurementis the starting point.
And I've, to be totally honest.
I've always been a little bit ofa attribution hater because I've
always thought it was incomplete.
(03:56):
The data's not right.
It's ignoring a lot of thesignal that's out there.
And to me, in 2022, when Istarted this company, it was like,
now we have the opportunity tosolve these data problems first.
And then let's layer in AI tonot just measure marketing,
but how do we improve it?
Like, how do we make a big difference andreally leverage machine learning and AI
(04:20):
to do much more predictive type modelingand be able to ask natural questions?
Like, how do I improvemy LinkedIn campaign?
and have it come back with the rightrecommendations and then monitor the
results and get smarter and smarter.
I often talk about the volume ofdata that exists, but our inability
(04:40):
to really leverage it, right?
This massive library of insights, but likeall the books are on the floor, right?
And even if you were to putthem back on the shelves.
You need books to talk to each otherand that's where the metaphor dies.
But I think about even 370 episodesof Sales Pipeline Radio There's a lot
of people that have listened to this.
Like what impact doesthat have on pipeline?
What impact has that had directly onpeople following us and getting to know
(05:02):
us and then eventually maybe callingus or telling a friend about us and
they call us All those connectionsare-- the data's there but like, how
do we actually make those connections?
This is where I'm hoping that AI andbetter technology will eventually
just be able to do that for us.
am I smoking?
Is this where we're going?
You're exactly right.
Like in marketing, people are using AIto write blogs that are mediocre, right?
(05:28):
They're using AI to createvideos and PowerPoints that
aren't as good as a designer.
And the biggest opportunity is reallyleveraging AI to sit on top of the data
and make recommendations, understandperformance opportunities, and always on
world's smartest marketing ops person.
(05:50):
And that opportunity is now, however,when I talk about the data, you got to
solve some of the data problems becausethe AI is only as good as the data
it sits on top of, and I know everymarketing ops person that's listening to
this is probably shaking their head yes,because there are a lot of challenges
and a lot of the legacy attributiontools out there haven't addressed them.
(06:11):
They, frankly, they have ignored them.
I was literally having this conversationwith another CMO yesterday about this
data problem, the fact that like weexpect AI to do all this stuff, yet
the data continues to be broken.
Like you just contact information, right?
The fact that like we get emailedfor a job that we had four jobs
ago or 20 years ago, and peoplethink that's the way it works.
Crazy.
You can go to LinkedIn, youcan see where I work now.
(06:33):
You would think that it's notprivate information, some of that.
So the fact that we haven't even madethat, I think it has kept a lot of
people pessimistic about the ideathat we're actually going to improve
all that to help the AI do whatwe think it should be able to do.
Yeah.
Yeah.
And I think a big part of this, Matt,too, that people don't recognize on the
surface is that a lot of these things of,what's working, what's not, it all depends
(06:58):
on who you're marketing or selling to.
So if we have a customer that's using,Facebook, Google, Microsoft, maybe
an ABM technology, LinkedIn, andthey say, what's the most effective?
I'm like, for which audience?
Because you'll get totally differentanswers whether you put in, medium
sized hospitals versus, largeenterprise software companies.
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And they're all effectivein different ways.
And so you really have topeel these things apart.
And I just find with our business,we're training these AI models
on how to do B2B marketing.
And how do you find out and makechanges to make the dollar efficiency
higher, to make the pipelinegenerated per dollar invested higher
(07:44):
and all those types of outcomes.
And, so it's a journey, right?
And, but it's really excitingbecause, we want to make a difference.
To me, nobody wants another dashboard.
It's measurement.
I didn't start this thirdcompany just to do measurement.
Cause that's just not thatinteresting on its own.
Yeah, no, I appreciate that.
We're talking today on SalesPipeline Radio with Chris Golec.
(08:05):
He's the founder of Demandbase.
He's a MarTech OG basically, and nowhas founded and is CEO of Channel99.
Is it possible that we have, orcould over rotate on measurement?
Cause I joke about like this podcast,like how much pipeline did it generate?
Is that really the measureof an effective podcast?
Is that really the role of a podcast?
Are there some things that we don'tneed to, or shouldn't minutely measure?
(08:29):
I legit don't know theanswer to this question.
I'm curious what you think.
This whole trend around measuringpeople and paying people on MQLs--
I just think that's been veryshort sighted versus pipeline.
And the reason we all knowmy pipeline is important.
Any salesperson knows that, but theother reason to get it right is that
typically, at least in the software world,50 percent of your customer acquisition
(08:52):
cost is pipeline and it's fascinatingto me that a lot of companies don't
really dive in and understand that whatpercentage is this fixed expense versus
variable and, a big part of its pipeline.
So if you can get more efficient anddrive down your customer acquisition cost,
you're increasing the value of the companyby a lot, because especially as companies
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get bigger, the later stage investors arelooking at lifetime value over CAC and
all these different KPIs and marketinghas a ton of influence over that.
Sometimes I don't think they realize it.
Don't realize it or just as as someof this gets more complex, it seems
like you have to understand it to beable to interpret and communicate it.
(09:38):
and I think about this a lot in termsof the role of a to not only lead the
strategy and lead the team and leadthe company with their leadership
peers, how deep into the weeds doesan effective CMO need to be today in
terms of understanding how AI worksand understanding how the data works
and how the data flows together?
On one hand, I'm like, you can't possiblyhave the bandwidth to do all this.
(10:01):
You have to have good people to do it.
But also there's a level of understandingsome of this that wasn't taught in any
MBA program that I was part of, becauseit's all brand new then if you don't
understand it, how can you manage it?
Where do you find that balance point?
I always find that great CMOs kind ofrecognize what they're really good at.
And they fill the gaps, right?
And I I put marketers or CMOsand they either come up through
(10:27):
brand and are really good at brandposition, message, the softer side.
And then you have the CMOs thatcome up through like operations are
very numbers, pipeline oriented.
Both are really important.
And so if the CMO is inherently moreon the ops side, they really need
to have an exec that knows brand.
(10:49):
But the self awareness is the mostimportant part, because as you
know, marketing is a organizationof specialization, versus sales
is an organization of scale,the same kind of skill sets.
And I think understanding thatas a CMO and filling those gaps
is the most important thing.
I think you can say thatfor any role, right?
yeah.
And I see this in jobdescriptions for CMOs sometimes.
(11:12):
It's you're looking for a unicorn, right?
And it's saying, I'm lookingfor a full service agency.
That doesn't exist.
agencies are good at one or two thingsand then want to get paid for everything.
And sometimes it's better to say,here's what I'm good at, right?
And I'm going to backfillwith people on my team.
And I'm going to also recognizewhere my blind spots might be.
I think it actually is astrength and a point of courage.
(11:33):
When someone could stand up and say, Idon't know everything, and things I'm
not good at, and I'm going to bring inthe right people to be able to do that.
At some point maybe you bring inthe right robot, Chris, to do that.
And I think we were in this phase wherewe're imagining where AI is taking us.
And in some cases I've seenpeople say, I don't need to hire
sales and marketing anymore.
I'm just going to have a go to marketengineer do it all through robots.
That march will continue ifwe're sitting here in five years.
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What do you think the balancebetween human and robots is
and go to market functions?
Oh, gosh.
I think there's a dramatic improvementin efficiency, but the creative, the
differentiation, all those things arestill, are unique to a person's skill set.
but a lot of the repetitiveactivities that are still prevalent
(12:18):
in SDR roles and things likethat absolutely can be automated.
But I think it just elevateseverybody's job to be more strategic.
A lot of the things that we'resolving for right now, marketing ops
owns and or digital marketing owns.
And it's taken the grunt work and makingit just much faster and more accurate.
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So I don't think anybody inmarketing ops fears their job.
I think it's finally I can get towork on things that are more exciting.
Yeah.
Yeah.
And I think the complexity of thego to market motion is required to
actually predictably drive resultsit's going to continue to outpace
what the technology can allow.
The technology is getting better,but the complexity is growing faster.
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And we need smart peopleto help orchestrate that,
internally and externally.
Externally, so that there's a cohesiveset of programs that have some connective
tissue in the eyes of the buyer, butalso the seller motions, just people
getting things done inside of companiesis getting more and more complex.
Like we desperatelyneed better technology.
We desperately need AI to be able to fillsome of those gaps, either to do things
(13:23):
that we don't need to be doing manuallyby people anymore, but also things that
have not been possible in the past.
They can unlock some of thatcreativity and potential inherent
in humans that I think is uniquelyhuman as part of the process.
That's right.
What do you think thatimplies for leadership?
Cause I think we are going to move toa world where we are starting to think
(13:44):
of AI and agents as a part of the team.
Does that make a difference?
Does that change things in termsof how you think about like
an effective leadership style?
I think it's on leadership to reallyhelp your organization educate
themselves and learn how to adaptand adopt AI to make their jobs
(14:06):
more effective and more efficient.
There's a lot unfoldingas far as self education.
Sometimes it's the younger folks inan organization might just be more
curious and savvy and take it uponthemselves to learn, but others in
the organization, you're doing thema favor by encouraging them to take a
class or education or get certified.
(14:29):
And I think every organization shouldbe doing that for also the careers
and benefit of the people in the org.
Yeah, I agree.
This has been great, Chris.
Thank you so much for doing this.
There's a lot of characters in ourindustry and you've always been one
of my favorites just because I thinkyou're a great, straightforward
guy and you do it the right way.
And just the teams you buildand the cultures you build.
(14:50):
Not only was great for those moments,but the ripple effect when people that
learn from that and appreciate that andthen go somewhere else and recreate that.
Like I think about, Peter Isaacsonand others from back old school
days, just always makes me smile.
So thank you for being who you are.
it's important.
I have, two guys in the next roomthat were at Demandbase years ago.
Love it.
Love it.
Hey, if people want to learn more aboutyou, hear more from you, learn more
(15:12):
about Channel99, where should they go?
Just go to Channel99.Com and reach outto me on LinkedIn and we'll connect and
I can share more about what we're doing.
Awesome.
Thank you much for being here.
Thanks everyone for listening,watching both live and on demand.
We'll be back next week.
More great guests, more great content.
That's it for today's Sales Pipe Radio.
We'll see you next week.
Take care.
(15:33):
Thanks Matt.