Watch now: Rachel Renock talks ethical enterprise, women-led tech companies, and the power of responsive teams.
Jill Malandrino: Good morning and welcome to NASDAQ #TradeTalks. I’m your host Jill Malandrino, Global Markets reporter at NASDAQ. Joining me at the marketsite in Times Square is Rachel Renock, the CEO of Wethos. We’re going to take a look at a company being led by women and women in technology. Rachel it’s great to have you with us at marketsite! Tell us more about Wethos, a women-led tech company.
Rachel Renock: Wethos is a company that creates curated marketing teams for nonprofit organizations and businesses, and essentially we take freelancers that are distributed all across the U.S. and we pair them together to create custom teams based on what a company needs.
JM: So does this replace marketing creative teams or is it a compliment to their existing strategy?
RR: It’s definitely a compliment. We definitely see the teams as having the ability to sort of scale somebody up, or really augment staff that already exists. You know, if you look at a lot of job descriptions today for marketing roles, they’re a little overwhelming. You have to have a background in design, and copy, and strategy, and you have to know social media, and platforms — and really that requires 3 or 4 people sometimes. So we really see ourselves as somebody who can supplement staff and help them distribute some of that work so that they can be more successful.
JM: Do you think that content creation is only going to continue to grow as companies try to connect with her customers in a better way?
RR: Yeah, definitely. I mean to mean it doesn’t even necessarily need to be categorized as “content” at this point, because you know, when you look at Gen Z, this is how they communicate — through visuals, through video, through text, through GIF. This is going to be the new form of how we communicate with people, with customers, whoever those people might be.
JM: Alright so you have done a lot of work with Goodwill, Charity:water, Human Rights Watch — ESG [environmental, social, and corporate governance] is increasingly becoming part of corporate strategy from Fortune 500 companies all the way down to startups. Are you seeing the same type of thing with the projects that you’re working on?
RR: Definitely, I think there is sort of growing segment that we call the “Ethical Enterprise,” and that isn’t even necessarily a company that has a social impact mission, but it’s being ethical in the way that it runs. And that can be everything from diversity, to how it treats its workers, to where it gets its supplies — that is really a growing segment, and it’s growing because we think that the consumers are the ones that are demanding it. So we think this is going to be a space that is only going to continue to expand, and we hope that it does because obviously that’s better for the world at large.
JM: All right. What are the brands and B2B startups are you looking to expand into?
RR: So, we’re really looking for brands that are looking for a new Innovative solution to what they normally would do, and people who really want to tap into a multi-faceted team that can move fast and keep up with this rapidly evolving landscapes that we have in digital. So anything from, you know, B2B data-driven startups to remote startups to Ethical Enterprises — our doors are open, and we would love to talk.
JM: Alright so, Wethos is all women-led — how important is it to continue to encourage young women to get into STEM positions and what can the industry be doing more of?
RR: Yeah it’s super important. I think women are doing a lot, and I think that’s amazing. I think it’s up to everybody else to create an environment for us to really thrive in. And so, my advice to women, generally speaking, is to just trust yourself, and trust your gut. I think my advice to the rest of the industry is to open those doors and really create an environment where we feel comfortable and where we can thrive and where we get the benefit of the doubt the same way that anybody else does. Because at the end of the day, I think a lot of women just want to be taken seriously.
JM: Yeah it would be great if we can get to a point someday, over the next couple generations, where it’s not like “a women-led company” where that’s such an amazing thing. It should just be like, you know, this person’s great at technology — it has nothing to do with whether they’re women or men or whatever, just that they’re great at something.
RR: Yeah, totally. I would love that. I think that’s what we want, right? We just want to be taken seriously and we just want to run our businesses and we want to have the same opportunities everybody else does.
JM: Rachel, thank you so much for joining us at marketsite.
RR: Yeah, thanks for having me!
JM: And thank you for joining us on #TradeTalks, I’m Jill Malandrino, Global Markets reporter at NASDAQ.