The Deal Scout Newsletter: Unlocking Growth with Summer Craig
If you’re keen on understanding how to drive growth in private equity-backed portfolio companies through strategic sales and marketing, this episode is a must-listen!
Here are the key takeaways
1. Summer’s Journey into Private Equity
Identifying a Market Gap:** Summer noticed that many mid-market companies lacked effective marketing strategies, leading her to establish Craig Group as a revenue growth advisor for private equity-backed firms.
2. Bridging Marketing and Finance
Aligning with EBITDA Goals:** Summer’s team ensures that marketing efforts are directly tied to financial objectives, particularly EBITDA. This alignment helps in making marketing measurable and impactful.
Integrated Functions:** Marketing and sales are fundamentally intertwined. Summer emphasizes the need for both functions to work together to drive revenue.
3. Defining Clear Business Goals
Measurable Objectives:** Establishing clear, measurable goals that align with broader business objectives is crucial. Sommer prioritizes these discussions with CFOs and boards to ensure everyone is on the same page.
Customer Journey Focus:** Even in B2B contexts, understanding and guiding the customer journey is essential for effective marketing.
4. Challenges in the Mid-Market
Lack of Formal Marketing Functions:** Many mid-market companies struggle to scale due to the absence of a dedicated marketing team. Craig Group specializes in filling this gap.
5. The Joy of Problem Solving
Discovery Phase:** Sommer finds joy in understanding the unique challenges of each client and developing tailored solutions. This collaborative approach leads to impactful growth strategies.
6. Avoiding Pitfalls
Strategic Hires:** Recognizing her strengths and weaknesses, Summer made strategic hires early on to focus on areas where she adds the most value, avoiding the less enjoyable aspects of running a business.
7. Vision for the Future
Evolving Landscape:** Summer is optimistic about the increasing recognition of marketing’s value in private equity. She believes in the potential for greater collaboration and innovation in the industry.