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Dave Riggs Dave Riggs is an Influencer

PE Growth Partner | Increase Marketing Profitability | Digital Audits

A PE operating partner asked me to do a marketing audit on a SaaS port-co acquired for $235M. The problem: the company pushed back. I only needed 20 minutes with the head of marketing. But every week I got pushback for a different reason. This puts all of us in an awkward situation: — The PE firm wants ground truth on marketing — I want to render the service I've been paid for — It's hard not to conclude the port-co's hiding something Which, to be totally honest, I get. My marketing audits for PEs have: — Uncovered six figures in monthly wasted ad spend — Caused folks in the marketing team to lose their job — Revealed existential problems that go beyond marketing I never go in with the intention of making anyone look bad. Rather, I see the audit as a comprehensive blood panel. In an ideal world, lab results come back and tell the story of a healthy company that's crushing it. But sometimes, they uncover signs of a marketing sickness that, unless treated, can end up risking the health of its host—the company at large. And just like a healthcare professional— I don't enjoy being the bearer of bad news. But I do feel a moral responsibility to convey the truth, whatever it might be. P.S. Fellow marketers/PEs— Ever run into this kind of problem where a port-co won't play nice with a 3rd-party audit? Would love to know your perspective and whether you have any tips. (asking for a friend... ;-)

Ben A. Wise

Just another schmo trying to figure out what all the hullabaloo is about

4mo

Not exactly the same, but I recently won a new client who parted ways with the prior vendor because they weren’t strategic enough. 

Carly Martinetti

PR & strategy for the fastest growing startups ✨ | Co-Founder at Notably

4mo

Yeah, this makes sense to me too. I can see why companies wouldn’t want to go through this experience. And it’s hard when there are consequences, but as you said, you have a responsibility to do your job and do it well! I resonate with that. 

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Kenneth Reinewald Christensen

🩹 I rip off the band-aid & diagnose your untapped opportunities | Disruptive business strategy for 7-8 figure businesses that have hit a plateau | Driven over +8.3M for clients from accounting to medical manufacturing.

4mo

Dave, your experience resonates deeply. It's like we're the ER doctors of the business world, aren't we? Clients come in complaining about a marketing scrape, but when we start digging, we often find internal hemorrhaging. It's not just about patching up the surface, it's about identifying and treating the underlying condition. And with your experience here, you're poking the bear. No wonder they're a bit snappy! Here's a perfect example I encountered recently: Client: "We're not getting any leads from our ad campaign." Reality: It was a multi-car pileup of marketing mishaps. - Audience Mismatch - Message Mayhem - Design Disaster The agency they hired had smooth-talking salesperson. But when it came to actual marketing strategy? Let's just say they were all sizzle, no steak. The resistance you're facing isn't just about hiding skeletons in the closet. It's fear. Fear that the story they've been telling themselves (and their investors) might be just that.... a story. After all, your brand isn't just what you say about yourself. It's what your customers say when you're not in the room. How do you approach rebuilding a strategy from the ground up when the foundation was this shaky to begin with?

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