We really need someone out front creating buzz and connecting with our tribe. Our team is big enough to turn out a good product, support customers, and close deals, however, we currently don't have have anyone dedicated to PR, social media, and events and I think we're missing a lot of opportunities because of it. Finding a passionate marketing guru in our industry will be difficult and it seems like equity could help light the fire for an A player. Should giving up equity be standard practice for small software team? I've heard of giving up equity for an amazing designer, what about a CMO?
I think you should give equity to anyone who's going to have an impact on your team. That's true for engineers, designers and especially marketing people.
Some of the most important people are marketers - however, the best marketers are more product marketers then just a PR / community person.
Equity usually vest over 4 years, so there's 0 risk in issue equity to anyone ... cause if they don't perform, just let them go and no big deal.
Hope that helps.