Adapting Marketing Strategies for Start-Ups vs. Legacy Brands
Join Molly Baker, Founder of Indie Consulting, as she delves into the dynamic world of marketing with Uyen Truong, Head of Program Management at CoinDesk. In this episode, they uncover unique strategies for both start-ups and legacy brands, discussing what makes a good marketer today and the essential platforms and channels to prioritize. Tune in to hear about the biggest opportunities and challenges in the current marketing landscape. Uyen also shares her professional journey, offering key insights into her role and daily work life, while reflecting on the impact of her career experiences.
Molly Baker [MB]: Tell me about what you're thinking about today. What’s been top of mind for you?
Uyen Truong [UT]: One thing I think about is what a crazy time it is to be alive. There's just so much happening. I think it is a really exciting time, especially for people new in their career because we're like in a true information age where if you wanna learn to do a skill or just wanna know literally anything, it's all available to you. There is information everywhere, and across multiple platforms and mediums.
MB: I am very curious about Web3. Explain it to me. In the most fundamental terms, how do you define it? How do you understand it to be?
UT: In simple terms I understand Web3 to utilize block chain technology to in a way bring more ownership to us as humans. We rely so much on platforms to do the right thing by the user, and that often is not the case. So in essence, it's kind of taking ownership from people that shouldn't have all of the ownership.
For example, an artist doesn’t have to rely on the Sotheby's of the world to accept them as a valid artist. Instead, an artist can take that onus on their own and be able to monetize their art in a way that makes sense to them. It acts as a way for them to define themselves instead of the big players dictating different aspects of it.
MB: Brag about yourself. What are you good at?
UT: I feel like I’m very much a chameleon. I’m not necessarily an expert in one topic, but much more of a jack of all trades. In my role, specifically and throughout my background I’ve had to know a little bit about everything. This can be hard, and I don’t think I give myself enough credit for being so malleable and flexible.
MB: Earlier we spoke a little bit about our early career days together at 360i which was much more a digital agency life. With your experiences since then, where do you think we are in this digital transformation? Or, what even is the digital transformation at this point?
UT: It's just the ever evolving ways in which we communicate to one another. We have so many platforms, not even social media, but even chat infrastructure as well. There’s so many ways and options to communicate, and I think it’s going to continue to skyrocket.
At some point there has to be a plateau, but I think we are still really far from that.
MB: What skills do you think people need to have to thrive right now? Specifically in this tech heavy and digital heavy world?
UT: Strong communication skills because it all comes down to communicating effectively. I think it is important to challenge the status quo, while doing it in a strategic and respectful manner. The more open and honest you can be in a respectful way will lead to effectiveness and success.
I often bring this to my personal life as well. The best way to solve issues when there’s turmoil in the friend group is by being direct. If there’s one take away from this episode, it’s to be more open and honest.
MB: Talk a little bit about your journey from agency life, to a publishing company, to tech. What has that been like for you?
UT: I had really sound advice from someone at my first job. They said, look around and assess the one thing about your job that you really like, and then go do more of that in your second job. I honestly think about that all the time.
What I liked about an agency job was the ability to work on varying projects with different clients and across many industries. So then I moved to another agency, but was more focused on digital and social.
Then I moved into a publisher, The New York Times, where I could continue doing these things but at a larger scale with clients who have more money to execute.
What I do now is more niche. What I like most about my current role is I get to be on the cusp of emerging tech, and I also get to work with people that I like.
So, to sum it up, I'm continuously finding the things that I like about my roles and trying to do more of them.
MB: Give some advice to people who may be starting a new job. What are some things you think about upon entering a new role? What are some things you try to do?
UT: I feel like there are two ways to enter a company. One is by being super aggressive. These are people who immediately assert their dominance and call for change. I feel like these people are often disliked.
The second way is my preferred approach. This approach is where you take the time to listen, learn, and get to know the people and the culture around you. This doesn’t mean you’re moving slow, but it prioritizes relationships and building a rapport. This way you are actually getting to know the place you’re working in.
MB: What relationship has been most impactful on you as you've grown professionally?
UT: First I would say every boss has definitely made an impact. I think having a good or bad boss is a memory that everybody has and continues to have.
Along with this, the one person who has impacted my career the most so far has been Sam Ewan. I met him at the New York Times, and he is also my current boss. Sam is just a great person. He’s been in the crypto blockchain industry space for many years and really introduced me to it. He educated me, brought me into the space, and has opened many doors for me. He is always willing to give to others and help people get connected, it’s truly special.
MB: So tell us who you are and what you're doing currently. The big reveal!
UT: I'm Uyen Truong, and I'm the head of program management at CoinDesk.
MB: Amazing. What does that mean? What is program management?
UT: First of all, CoinDesk is a crypto media publisher. Program management is essentially making sure all of the custom client work that we do is executed smoothly within budget, on time, and the client is happy.
In actuality what I do is pretty much everything. CoinDesk is not as big, and we don’t have as many resources which means we have to get scrappy. I like this though because I enjoy being involved with hands-on work.
MB: Talk to me about how CoinDesk defines a client. If someone comes to you and they're going to potentially be a client, what does that relationship look like?
UT: It could be a crypto exchange, the layer ones and layer twos, or maybe it’s a gaming client. Lot’s of different examples, but most of our clients are crypto blockchain based, not like a J&J for example.
We are trying to branch out and connect with companies like Mastercard and Visa, but that’s more the future and not the present.
MB: How do you think your time on the agency side has impacted how you show up in a publisher setting?
UT: I think it connects to the hustle mentality where you know to get it done at all costs. Also coming from production, account management, client services, and program management, the need to get everything done is ingrained in my mind.
MB: What would you say is the best and the worst part of your current role. What are the highs and the lows?
UT: The highs are the flexibility, the people, the travel.
The low is working with a smaller team and limited resources, it can definitely be a challenge and annoying at times.
MB: At 21, did you ever think you'd be doing what you're doing now?
UT: Absolutely not. At 21 crypto and blockchain technology didn't exist.
MB: When you graduated college, what did you think that your career was gonna look like?
UT: I thought I would be in fashion or sports doing marketing. Those industries are not for me for a number of different reasons, but I think advertising marketing is where I've stayed even throughout different industries.
Trendy or Tragic
BeReal acquired by Voodoo— a company of mobile apps and games
UT: Tragic. Let’s be honest, no one’s using BeReal anymore. I think it will flop.
Man on the street TikTok content
UT: I would say both trendy and tragic. It depends because some of them are so cringy, but I watch them which means I am part of the problem.
The new social media platform "NoPlace"— dubbed as the GenZ “MySpace”
UT: I think it’s tragic. We’ve been there and done that, it’s time to move on.
Check on Uyen Truong on LinkedIn and @uyendoe on Instagram.
As for us, follow @namedrop.pod on Instagram & LinkedIn and @molbakes on Instagram for all future episodes and insights.
