Making a milestone decision to hire a VP of Marketing is a game-changing move for your organization.
Unsure where to start in finding the best fit? You’re in the right spot.
Welcome to your six-step guide on how to hire a VP of Marketing within six foolproof steps. We’ve designed this guide to be your roadmap, steering you clear of common pitfalls while maximizing your chances of success.
Read on to discover a insider tips, best practices, and expert advice on how to hire a VP of Marketing who will transform your marketing operations and drive your business to new heights.
Determine Job Descriptions of a VP of Marketing
Nailing down what you’re really looking for in a VP of Marketing shapes the first solid foundation in the process.
With a clear job description in hand, it does more than just find the right leader; it sets the stage for a successful working relationship down the line.
Job Duties of a VP of Marketing
A Vice President of Marketing wears many hats in an organization.
Their role is multifaceted and extends beyond simple messaging or paid media. Here are some of the critical duties based on the information provided:
- Strategic Development: One of the primary roles of a VP of Marketing is to develop mid and long-term marketing strategies that align with the company’s goals. This could involve setting KPIs, choosing marketing channels, and determining budgets.
- Oversee Marketing Functions: The VP of Marketing will manage various marketing facets, from product and influencer marketing to public relations and digital marketing.
- Cross-Department Collaboration: They work closely with other senior executives like the CEO, COO, and sales leaders to ensure that the marketing strategies are aligned with the company’s overall objectives.
- Digital Marketing: In today’s digital age, the VP of Marketing is usually responsible for driving digital capabilities like website management, SEO, and social media channels.
- Content and Messaging: Crafting the right messaging, positioning, and content is essential. This role involves overseeing the creation and delivery of engaging marketing experiences that effectively resonate with the target customer base.
- Global/National Strategy: Depending on the scale of your business, the VP of Marketing may also be tasked with developing and implementing marketing strategies on a national or global scale.
- Lead Generation and Branding: The VP is accountable for enhancing business leads through high-quality branding efforts, whether it’s through social media advertising, collaborations, or other innovative methods.
- Stakeholder Engagement: A VP of Marketing must also engage effectively with all areas across the business, from product development to customer service, to ensure marketing strategies are holistic and effective.
Job Requirements of a VP of Marketing
You’re ready to bring a VP of Marketing on board. But what exactly should you look for in this top-tier position? Here are points you should pay attention to.
- Education: It’s usually non-negotiable that they have marketing or business administration degree. An MBA could be a bonus. That being said, years of experience is equally valuable sinc marketing channels and strategies change so quickly.
- Customer Focus: Understanding the marketing funnel and knowing how to target and engage customers is crucial.
- Stakeholder Management: Ability to interact with and manage relationships with various stakeholders, both internal and external.
- Marketing Strategy: A strong grounding in diverse marketing strategies and tools is a must. Candidates should be proficient in setting and meeting marketing objectives.
- Team Management: Leadership skills are a must. A VP of Marketing will lead large teams and should be skilled in team dynamics and delegation.
- Experience: Aim for candidates with a decade or more in the marketing game, particularly in leadership roles and guiding teams in the latest marketing channels.
- Skills Assessment: Before you make things official, think about running a skills test to make sure they’re suitable for what the role actually entails.
Why and When to Get a VP of Marketing?
Taking the step to hire a VP of Marketing is a landmark decision for your company.
Let’s break down what might push you to make this crucial hire.
Why Get a VP of Marketing?
- For Growth: The VP of Marketing drives customer base expansion and market share growth, directly contributing to your company scaling.
- To Free Up the CMO: Having a VP allows the CMO to focus on overarching strategy and brand vision, leaving execution to the VP. Or they can take over leadership of a marketing team and become the first of your senior marketing hires.
- Regional Specialization: In larger firms, the role can be more specialized. For example, larger companies may have multiple VPs of Marketing.
When to Get a VP of Marketing?
The best time to hire a VP of Marketing is when you’re planning for rapid growth or entering new markets.
A strong VP of Marketing can be pivotal to the success of your startup, defining the product and crafting marketing strategies that resonate with your target customers.
Decide the Pay Range for your VP of Marketing Position
Determining the right salary is a critical step when you’re figuring out how to hire a VP of Marketing.
Setting the appropriate salary is key when you’re in the process of hiring a VP of Marketing. Being aware of industry norms allows you to offer a competitive salary that will draw in high-quality candidates without straining your budget. According to research, the annual income for this role can vary widely:
- The bottom 10% earn between $110,389 and $116,000, as per Indeed and Builtin data.
- The average salary ranges for the VP of Marketing position from $181,000 to $190,000, as reported by Glassdoor.
Also, there are various factors that could affect these figures:
- Experience: More experienced VPs of Marketing will likely command higher salaries.
- Location: Salaries can vary greatly depending on the cost of living in your area.
- Industry: The industry you’re in could have its own salary norms for this role.
- Company Size: The scale of your company will also impact how much you should budget for this position.
With this information, you’ll be better prepared to offer a competitive salary, ensuring you attract top-tier candidates as you go through the steps of how to hire a VP of Marketing.
Post Your Job on Boulo
After you’ve outlined what you’re looking for in a VP of Marketing, the next important step is to share the job opening where the right candidates can find it.
While you could use general job boards like LinkedIn and Indeed, Boulo provides a specialized avenue that specifically caters to roles for your needs.
- Boulo: Post a Job with Boulo to tap into a more selective talent pool, thereby augmenting the likelihood of matching with a candidate who aligns with what you’re looking for.
- Your Network: Don’t forget to use your own business network for job referrals. Personal recommendations can be very powerful and may help you find the perfect candidate even faster.
Conduct an Interview
Interviews are a two-sided story: You’re sizing them up, but they’re also getting a read on your company.
It’s not just about ticking boxes for skills. It also about finding someone who’s going to uplift your team and align with your company’s bigger picture.
Must-Ask Interview Questions for Your VP of Marketing:
- What was your team size in your previous role?
- Can you discuss a product for which you develop buyer personas?
- Describe how you would build a high-performing marketing team.
- What’s your crowning achievement in your marketing career?
- Which KPIs do you prioritize in evaluating marketing campaigns?
- How would you maximize conversions without inflating the budget?
Make an Offer
You are now ready to make a job offer.
Armed with a ballpark salary range, with variations depending on experience, location, and company size, you’re set to extend a job offer.
By utilizing this information, make sure your offer is competitive and aligns with the responsibilities and requirements of the role to attract the best talent for your organization.
Your new hire will play a pivotal role in setting and executing marketing strategies, managing teams, and driving business growth. Therefore, make it count.
FAQs on How to Hire a VP of Marketing
Now that we’ve set the bases, let’s shed light on some burning questions:
Should I run a skills assessment test?
Absolutely, conducting a skills assessment adds an extra layer of evaluation, supplementing what you learn from the interview and resume. It helps ensure that the candidate possesses the practical skills needed for the role.
How much equity should a VP of Marketing get?
According to Hunt Club, determining the equity share for a VP of Marketing can depend on their role within the startup.
- If they are a founder: 1.3% to 7% equity
- If they are non-founders: 0.5% to 1.2% equity
The actual percentage can also vary depending on the VP’s level of expertise and contributions.
Elevate Your Business by Mastering How to Hire a VP of Marketing
Securing a talented VP of Marketing is a critical milestone for any company looking to accelerate growth and make a splash in the market.
This key role not only crafts impactful marketing strategies but also builds a high-performing team, driving your business toward its objectives. The journey of hiring the ideal VP of Marketing may be complex, but it’s undoubtedly rewarding.
As you proceed, remember that each company’s needs are unique; therefore, don’t navigate the process of hiring a VP of marketing alone. Let Boulo guide you through the process – Simplifying your hiring journey by posting a job now.