Manifesto · 01

A Quiet Civil War
In B2B SaaS
Marketing.

Or: why we'd rather disappoint you in week one than lie to you for six months.

PROPAGANDA INC. · PUBLISHED MAR 2026 · 10 THESES · 2,400 WORDS · 6 MIN READ
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Something is broken in the way B2B SaaS companies market themselves. Not a little broken. Fundamentally, structurally broken. And the agencies making the most noise are the ones causing the most damage.

We started Propaganda because we got tired of watching brilliant products die in public — buried under generic campaigns, polished-to-death creative, and dashboards engineered to make agencies look busy instead of making companies grow.

This is the short version of what we believe, in ten theses. Disagree if you want. If any of it lands, the contact link is at the bottom.

THE TEN THESES
Ten Things We Believe About Growth
§ 01 — 10
I.

Most marketing advice is optimized for the marketer's comfort, not the client's growth.

Everyone has a playbook. Few have the spine to throw it out when the numbers say so. The hardest conversation an agency can have with a client is "we were wrong about this" — and almost none of them have it.

We'd rather tell you your Q3 campaign isn't working in week two than wait until retainer renewal to have the conversation. That's not a feature. That's the whole product.

II.

The "test and learn" mindset is mostly a cope.

Most A/B tests are built to confirm what the agency already decided. A real test has a written hypothesis, a kill date, and a threshold that means "we were wrong." If you can't lose, you're not testing. You're performing.

The number of "tests" we've seen that run for six weeks without a declared outcome is embarrassing for the industry.

III.

Polish is a liability in a trust-starved feed.

The winning ad of the last 18 months has been a phone-camera founder talking at the ceiling for 40 seconds. Not because it's aesthetically superior — because it's the only thing that signals a human is on the other end of the transaction.

Every frame of motion graphics makes your ad feel more like an ad. Founders who cringe at their own video have the highest-converting founders on earth.

RECEIPT · FOUNDER POV · +61% VTR · +2.4× CTR · VAULTLINE Q1 '26
IV.

Scarcity beats value in cold. Every single time.

Cold audiences don't want a product walkthrough. They want a reason to act before the window closes. When we stopped explaining features and started counting remaining seats, CTR jumped 47% across every account we ran.

The uncomfortable truth: your product is not as interesting as you think. Scarcity is what makes people pay attention long enough to find out.

RECEIPT · SCARCITY VS FEATURES · +47% CTR · −68% CPL · Q1 AVG
V.

Retargeting is a closer, not a prospecter.

Stop using retargeting budget to find new people. Use it to close the ones already deciding. Case studies, receipts, objection-handlers, specific before-and-after moments — not awareness.

At one client we unlocked $680K in stalled pipeline in a single month just by rotating the retargeting slate from "brand" to "proof." No new spend. Same people. Different message.

RECEIPT · RETARGETING REWORK · +$680K STALLED PIPELINE RECOVERED
VI.

"Best practices" expire faster than you think.

What worked in 2022 is underpriced in 2026 and overfit by everyone in between. The only durable advantage in paid acquisition is speed of iteration — not insight, not taste, not some secret audience.

Ship 47 creative variants a quarter. Kill the bottom 30 immediately. Double down on the top 3. That's the entire game. Everything else is theater.

VII.

Attribution is a prerequisite, not a feature.

If you don't know within 30% accuracy which channel drove which closed-won deal, you don't have a marketing function. You have a lottery ticket with a reporting dashboard stapled to it.

Fix this first. Nothing else matters if the signal is broken. Every optimization on top of bad data is just a more sophisticated hallucination.

VIII.

Most founders don't need more leads. They need better leads.

The real holy-grail metric in B2B SaaS isn't lead volume — it's SQL-to-close rate. Every point of improvement is worth more than doubling your traffic. But it's harder to sell and uglier on a dashboard, so agencies chase the vanity number instead.

We've watched agencies optimize for the front of the funnel for 18 months while the real bottleneck sat two steps later, untouched and unmentioned.

IX.

The best marketing is the least necessary.

The companies that grow fastest are the ones whose marketing is a force multiplier on an already-working product. If the product isn't landing, no creative rotation will save it. No funnel optimization will save it. No amount of clever positioning will save it.

We'll tell you that before we take your money. That's the most expensive sentence an agency can say, and also the most honest one.

X.

We'd rather run fewer clients perfectly than more clients badly.

We cap our roster at 8. Not for exclusivity optics. Because we can't run the 9th with the focus it deserves, and taking the retainer anyway would make us every agency we swore we wouldn't become.

If we're at capacity when you reach out, we'll say so. We'll put you on a list. We won't take your money and your hope just to hit a quarterly number.

WHAT WE BELIEVE
What We Believe. In Nine Lines.
§ THE SHORT VERSION
01

Speed of iteration beats quality of any individual ad.

02

Founder-led content compounds. Studio-polished content decays.

03

Systems beat campaigns. Every single time.

04

Data beats opinions. Even senior ones. Especially senior ones.

05

Psychology beats tactics. Humans don't behave like flowcharts.

06

Simple beats clever, always. Clever is for the agency's portfolio.

07

Urgency beats education in cold traffic. Every test confirms this.

08

We work for the client. Not for the retainer. Not for the portfolio.

09

If we can't tie it to revenue, we won't run it. Brand is downstream of results.

WHAT WE REFUSE
What We Refuse To Do.
§ THE LINES WE DON'T CROSS
×
Retainers without performance floors.
We get paid when you get results. Full stop.
×
"Brand awareness" campaigns we can't tie to revenue.
If it doesn't move the number, we won't run it — even if you ask.
×
Dashboards designed to hide instead of reveal.
Our dashboards show bad weeks in the same font as good weeks.
×
Monthly reports written to justify the fee.
The report is either the work or it's a distraction from the work.
×
Tests without written kill dates.
If you can't lose, you're not testing. You're performing.
×
Scaling a broken funnel to hit a spend target.
That just burns your money faster. We'll say no.
×
Taking a client we're not confident we can grow.
If the product isn't landing, we'll say so in week one.
SIGNED
Signed,
Dylan Thomas
Founder · Propaganda Inc. ESTD. 2025 · SAN FRANCISCO · LAST REVISED MARCH 2026

If Any Of This Landed, Let's Talk.

We take on a maximum of 8 clients at a time. If we have capacity and you're a fit, we can start in two weeks. If we don't, we'll tell you that in the first email. Either way: a 30-minute strategy call, no pitch deck, no fluff. You'll know more about your growth problem at the end of it than you did at the start.