Study: How To Course Correct The CMO’s Evolution

BY

Chief marketing officers who own a specific set of activities like innovation road maps, customer experience and sales initiatives are more than twice as confident as the rest of their peers that they’re making an impact in the C-suite. That’s according to a new study by Deloitte and The CMO Club on the tasks that are best aligned with the CMO’s core competencies.

Growing expectations and evolving roles have changed the scope of the CMO. If CMO’s are going to be positioned for greater C-suite influence, the data suggest that the CMO role needs course correction given some are focused on owning the wrong things. For example, when asked which activities they wished to own, CMOs said business partnerships (69 percent), corporate strategy (67 percent) and public relations (56 percent). Yet the study found there’s a low correlation between ownership of these activities and CMO impact on organization.

CMOs who focus on the following four areas are twice as confident as the rest of their peers about impacting their company’s strategic direction: innovation road maps; company mission, vision and values; customer relationships and experiences; and sales processes and territories.

Although the study found that setting the innovation road map is strongly correlated with CMO impact, currently only 10 percent of respondents own this high-value activity, while just five percent want to own it in the future. One way CMOs can drive the innovation road map is to use their knowledge of the customer to create innovative offerings, design, partnerships and experimentation.

Crafting company mission, vision and values that are connected to a brand’s customers is another high-value activity correlated with CMO impact. Still, just seven percent of those surveyed wish to own this task.

While 41 percent of CMOs want to own customer experience, another brand building and growth-driving activity, in the future, only 21 percent of them own it today. The discrepancy is starker when it comes to owning customer relationships—16 percent of CMOs own the activity today and only five percent wish to add it to their purview.

Lastly, the study found that CMO impact and ownership of lower-funnel activities such as purchase behavior are strongly correlated. Despite this, few CMOs wish to own the sales process and sales territory, at four percent and three percent, respectively. Whereas currently, 50 percent of respondents are accountable for awareness as their core success metric.

To produce greater C-suite impact, the authors of the study suggest CMOs should lead discussions on the consumer, ensure the brand values and mission align with its messaging, collaborate with chief sales officers to define customer-oriented processes and focus on the results of their role instead of their title.

The findings are based on responses from 400 CMOs across the world with an average of nine years as CMO or head of marketing experience.

Over Half Of Americans Think Brands Should Take A Stand Against Racism

BY

In the wake of the Black Lives Matter protests, organizations are aiming to improve diversity, reinforcing one important truth: consumers want brands to take a public stand against racism. In fact, 65 percent of Americans think brands should act responsibly and publicly support anti-racist initiatives, according to a Piplsay survey. Piplsay polled 30,452 people nationwide from July 12 to 13 to understand consumer sentiment toward brand responsibility.

While over half of respondents said brands definitely should take a stand against racism, just 18 percent think they shouldn’t, while 17 percent say they’re not sure.

The brand action consumers would appreciate most is eliminating racial bias from within their organization completely (31 percent).

The effort to combat racism in the workforce has been given greater urgency, contributing to the accelerated pace of resignations. After racism accusations surfaced, Ban.do co-founder Jen Gotch, Bon Appétit editor-in-chief Adam Rapoport and Solid8 CEO Michael Lofthouse stepped down.

Being consistently vocal through statements, ads or campaigns (18 percent), eliminating racial undertone from their brand identity (13 percent), donating to anti-racism causes (12 percent) and calling out racist comments on social media platforms (eight percent) comprise other brand actions consumers would appreciate.

More than half (56 percent) of US consumers are most willing to buy from brands that take a public stand against racism, but especially Gen Z and millennials (62 percent). This finding reflects the recent actions of multiple brands who have recently retired racist names, logos or mascots. For example, Aunt Jemima, Uncle Ben’s and the Washington Redskins announced they will update their brand identity over racist origins. Thirty-nine percent of Piplsay’s respondents believe this act of symbolism will help make a difference in eliminating racism.

Nearly half (46 percent) also think that brands’ collective show of support for anti-racism will lead to a credible change. Perhaps the largest collective show of support has come from the over 400 advertisers who pulled spending from Facebook over its content moderation practices.

Trident Gum And T-Pain Launch AR Music Filter Campaign

BY

Trident Gum has teamed with T-Pain to launch a contest called #ChewTunes inviting fans to create an original beat via augmented reality (AR) filter around the brand’s new limited-edition Chew Tunes packs. The winner can choose between $10,500 or a trip to attend the 2021 Grammy Awards.

Upon scanning the quick response (QR) codes inside Trident Gum Chew Tunes using their smartphone camera, fans will be directed to Instagram Stories, where they can show off their original rhythm in a video using the Chew Tunes filter. Chew Tunes come in four flavors, each of which produces a different instrumental sound when scanned.

To enter the competition, fans must post their video on Instagram or Twitter with the hashtags #ChewTunes, #Sweepstakes and #TridentGum, from now through November 1. The winner, which Trident will announce on November 2, can choose between a cash prize of $10,500 or a trip for two to see the 63rd Grammy Awards. Trident will cover costs for roundtrip air travel, hotel stay, admission tickets and $2,400 in spending money for the winner.

Trident is also giving away 234 instant-win prizes such as Bluetooth stereo turntables, a $30 streaming music gift card and a pair of Bluetooth headphones to fans who enter their email on the campaign’s microsite. Participants can earn an extra bonus entry when they post about #ChewTunes with a link on Facebook or Twitter and if their friend clicks on the link and enters the contest.

T-Pain’s Instagram video promoting the campaign has received 73,000 views and over 150 comments so far.

In February, T-Pain partnered with Trident to perform live outside a busy train station in Chicago, encouraging residents to “chew through” their daily commute.

According to Statista, 3.23 million Americans chewed eight or more pieces of Trident Layers in 2019.

What We’re Reading–Week Of July 13th

BY

We’re searching for the most pressing marketing insights this week. 

Why WFH Isn’t Necessarily Good For Women

Harvard Business Review

Flexible working may actually increase work and family-related conflict, reduce opportunities for face-to-face networking and increase a businesses’ bias for rewarding employees who are physically in the office.

Why it matters: Many believe that remote work will enable women to maintain full-time jobs and avoid losing traction in their careers during their caregiving years.

Imagine There’s No Facebook, Where’s The Easy Media Buy?

The Drum

Experts believe that if the Facebook boycotts continue, media buyers will redistribute wealth to Google and Amazon, who are able to provide smaller businesses the targeting that they value from Facebook.

Why it matters: Over 1,000 advertisers have pulled spend from Facebook amid an uproar over its content policies.

Office Hours: Ad Agency Goes Permanently Remote

Ad Age

San Francisco agency Traction permanently shut its doors and switched to working remotely after adopting behaviors and tools that eliminated the need for face-to-face interaction, such as Miro, an online collaborative whiteboard platform.

Why it matters: AdAge’s research shows that agency employees believe teleworking allows for cost savings and help with childcare.

U.S. Retail Sales Surged Higher In June To Pre-Pandemic Levels

Ad Age

As some states started to lift restrictions, the value of retail sales rebounded to about pre-pandemic levels but the trend may reverse amid a resurgence of cases and closures.

Why it matters: The Labor Department announced that first-time applications for unemployment insurance last week were higher than predicted and remain about double the peak in the 2008 recession.

Instagram Influencers Explain Using Expanded Shopping Features

Business Insider

For the first time, creators can enroll their personal Instagram accounts and use Instagram Shopping features to promote their own products as well as brands’ products.

Why it matters: Influencers who were part of the beta test of Instagram’s new shopping features are frustrated about the limited number of brands available to tag and the lack of affiliate links.

Why Better Measurement Is The Secret To Proactive Branding

Ad Age

To accurately measure responses to ads during COVID-19, marketers should couple brand metrics with other behavior signals and test first-party, second-party or third-party audiences prior to launching a campaign.

Why it matters: The IAB’s recent research revealed that less than one-third of marketers felt very confident in the key performance indicators (KPIs) they’re using to measure their success.

As Virus-Wary Shoppers Opt For Online Purchases, Retailers Pay The Price

Reuters

In addition to write-downs for unsold inventory and lower online profits, retailers like Macy’s and Target must deal with higher expenses related to ecommerce amid the pandemic.

Why it matters: RSR Research estimates that typical online orders cost retailers about 10 to 15 percent more than in-store purchases.

Rubik’s Cube Sees 17M TikTok Views With 40th Anniversary Campaign

Mobile Marketer

In honor of its 40th anniversary, Rubik’s launched a TikTok challenge called #CubeAtHome, which invited fans to share videos of themselves solving the puzzle and generated over 17 million views. 

Why it matters: The brand has seen a resurgence in interest as people are stuck at home, leading Rubik’s to launch mobile-friendly solution guides on its website.

B2B Marketers Get Down To Business With Digital During COVID-19

AdExchanger

Ernst & Young CMO for the Americas, Toni Clayton-Hine, says the company pivoted its pre-pandemic ad campaign into a content series of five-minute soundbites featuring clients’ top-requested topics.

Why it matters: Over a three-week period, the video received 1.5 million views and moved people from awareness and eventually to Ernst & Young’s website for more information.  

The Facebook Backlash Is More Than A Brand Safety Issue

Adweek

Brands are working hard to find a new way to buy media that doesn’t rely as heavily, or at all, on Facebook. Because the stakes are too high, brands probably won’t resume Facebook advertising until the company revises its hate speech policies. 

Why it matters: Facebook’s hands-off approach has exposed the importance of contextual relevance, something many brands have long ignored on programmatic advertising.

Opinion: You Can’t Ask Us To Think Outside The Box If You’re Going To Box Us In

Ad Age

Oliver Fuselier, managing director and executive producer at Great Guns USA, believes US advertisers suppress true creative production due to an inability to look beyond the American perspective and because they use the same talent to shoot ads.

Why it matters: Adobe research found that 61 percent of US consumers value diversity in advertising and that they put their trust and money behind that belief.

Avoid Making This Strategic Mistake In A Recession

Harvard Business Review

While navigating COVID, differentiators should not try to change strategies, but instead reduce costs quickly, to a point, and focus on their strengths.

Why it matters: A report from the Becker Friedman Institute of the University of Chicago found that 42 percent of jobs lost so far due to COVID could be permanent losses, which could lead to a demand crisis like in 2008 and therefore a much slower recovery.

Nielsen Data Shows How Consumers Around Globe Have Begun Behaving Alike

The Drum

People are spending more on products that keep them closer to home, and between March and April, 30 percent of new online buyers repeated their online purchase habit. 

Why it matters: As per Nielsen, COVID-19 is one of the few times in history when much of the global consumer population is behaving alike.

Facebook Promises Better Guardrails For Brands Scared Of The Chaos In Its News Feed

Ad Age

Scared about brands getting burned, Facebook boycott organizers are demanding Facebook provide transparency about where ads run and provide refunds when content appears near controversial material.

Why it matters: Last week, Facebook released the results of an independent audit performed by the Media Rating Council, which confirmed that Facebook abides by industry-set content standards. Facebook also announced stricter rules against promoting white nationalism.

Gamification, It’s Not Just Fun And Games!

Mobile Marketer 

Different ways to apply gamification to initiatives include playable ad units, augmented reality-powered campaigns, incentivized in-app ads and interactive videos.

Why it matters: At a time when people are stuck inside, brands should leverage hard-wired human desires to compete and earn prizes as they pivot digital.

A New 30-Page Report Breaks Down How To Use Instagram Stories Effectively In 2020

Business Insider

Conviva analyzed the 920 top Instagram accounts and over 28,700 stories and found that the most effective users of Instagram Stories were micro-influencers or those with 10,000 to 50,000 followers.

Why it matters: According to the report, having eight or more frames in your Instagram Stories and turning on replies help increase reach rates.

Zendesk Names Chad Pearce Vice President Of APAC Marketing

BY

This week in leadership updates, Zendesk hires Chad Pearce as VP of Asia-Pacific marketing, McLaren Health Care appoints its first chief diversity officer, Geffen Records names Nicole Bilzerian executive VP, Warner Music UK promotes Victor Aroldoss to SVP of international marketing and more.

Zendesk Hires Chad Pearce As Vice President Of APAC Marketing

Zendesk has named Chad Pearce VP of APAC marketing. Pearce will be responsible for Zendesk’s regional marketing strategy for APAC’s commercial and enterprise businesses.

Pearce comes from Microsoft APAC, where he served as CMO for over two years. Prior to that, he held various leadership roles at Salesforce and Fuji Xerox.

McLaren Health Appoints Kimberly Keaton Williams As First Chief Diversity Officer

McLaren Health Care has named its VP of talent acquisition and development, Kimberly Keaton Williams, chief diversity officer, the first position of its kind at the company. Keaton Williams will hold both roles.

Keaton Williams has been with McLaren since 2018. Prior to McLaren, she worked in senior leadership roles at Kelly Services and Tata Technologies.

Geffen Records Names Nicole Bilzerian Executive Vice President

According to Variety, Universal Music Group-owned Geffen Records is bringing on Nicole Bilzerian in the newly created position of executive VP to expand the multi-genre label’s marketing operations.

Bilzerian joined Interscope Geffen A&M’s marketing department in 2013 and was later promoted to SVP, head of urban marketing.

Warner Music UK Promotes Victor Aroldoss To Senior Vice President Of International Marketing

Warner Music UK’s general manager of international marketing, Victor Aroldoss, has accepted a promotion as SVP of international marketing.

In his new role, Aroldoss will spearhead Warner Music UK’s international marketing and help break rising talent outside of the UK.

Mark Anthony Brands Senior Vice President Of Marketing Sanjiv Gajiwala Resigns

After six years of working with Mark Anthony Brands’ Mike’s Hard Lemonade and White Claw, senior VP of marketing Sanjiv Gajiwala is stepping down. In 2014, Gajiwala was named VP of marketing and thereafter promoted to his current position in 2016.

The marketing leadership team at Mark Anthony Brands will report to president Phil Rosse while the company finds a replacement.

CareFirst Hires Mack McGee As Vice President And Chief Marketing Officer

CareFirst BlueCross BlueShield is bringing on Mack McGee as VP and CMO to oversee the company’s communications, customer experience and media relations.

McGee comes from SC&H Group, where he served as VP and CMO for three years. Prior to SC&H, McGee was executive VP and principal at Groove Commerce.

Bed Bath & Beyond Appoints Neil Lick As Senior Vice President, Owned Brands

According to Forbes, Bed Bath & Beyond has named Neil Lick as senior VP of owned brands to lead a newly formed team responsible for developing and launching owned brands in 2021.

Lick has 22 years of experience in merchandising roles at Williams Sonoma.

Cartamundi Names Ann Viaene As First Global Chief Marketing Officer

Cartamundi has hired its first global CMO, Ann Viaene, former Kraft Foods’ director of chocolate brands in Benelux.

Prior to Kraft Foods, Viaene was CMO of Armonea.

WarnerMedia Promotes Jackie Gagne To Senior Vice President Of Multicultural Marketing

HBO VP of multicultural marketing, Jackie Gagne, has accepted a promotion as SVP of multicultural marketing for WarnerMedia. She will lead the launch of audience hubs on HBO Max.

As VP of multicultural marketing Gagne launched a variety of diversity initiatives through HBO POV, the HBO Asian Pacific American Visionaries short film competition and the “Our Stories to Tell” campaign.

Instagram Shop Launches In The US

BY

This week in social media news, Instagrams rolls out Shop in the US, Facebook publishes a report on the pandemic’s impact on small businesses around the world, Snapchat launches brand profiles, YouTube adds a new audience segmentation feature and the Byte app sees a spike in downloads amid a threat of TikTok’s ban in the US.

Instagram Rolls Out Shop In The US

Instagram has launched Instagram Shop, a new destination in the Explore tab where US users can buy products from brands and influencers, after first announcing it in May.

Why it matters: Instagram Shop comes just a day after Snapchat announced Brand Profiles, a permanent home for brands that lets users shop directly in the app and discover brands’ augmented reality (AR) lenses and best snaps.

The details: Instagram Shop will highlight brands, collections curated for Instagram’s social shopping channel @Shop and personalized product recommendations. The double checkout arrows signify which products you can buy directly in the app. Later this year, Instagram will add a Shop tab in the navigation bar to enable one-tap access.

Also coming later this year, Instagram purchases will be powered with Facebook Pay, which was announced last year and lets users shop and make donations across Facebook and Instagram. Facebook Pay will add Purchase Protection to certain products bought on Instagram.

Instagram Shop will be available globally in the coming weeks.

Facebook Publishes Small Business COVID Report

Facebook’s 49-page “Global State of Small Business Report” surveyed 30,000 small business owners across over 50 countries to understand how the pandemic has affected them.

Why it matters: Over 160 million brands use Facebook, Instagram, Messenger or WhatsApp every month to engage with customers. To help small businesses manage the pandemic, Facebook recently launched Facebook Shops to simplify online selling.

The details: Facebook found that 26 percent of businesses worldwide had to entirely shut down their business from January to May. In some countries, 50 percent had to close. Tourism and event-related businesses were hit the hardest as 54 percent of tourism agencies and 47 percent of hospitality and event small businesses reported near total closures.

Yet small business owners remain hopeful, with 74 percent that were closed at the time of the survey saying they expect to reopen once stay-at-home orders begin to lift.

Many have pivoted digital, with more than one-half of businesses making at least 25 percent of their sales online in 15 of the countries surveyed.

Snapchat Launches Brand Profiles, Permanent Homes For Businesses

Snapchat is launching a closed beta of Brand Profiles, a home for business profiles on the app featuring four components including branded augmented reality (AR) lenses, a virtual store and story highlights.

Why it matters: In 2019, Snapchat launched “Public Profiles,” a home for influencers’ and shows’ permanent content. Its efforts to boost brand monetization follow Instagram’s announcement of virtual storefronts for businesses.

The details: As per Snapchat:

“With 229 million Snapchatters using the app daily1, this real estate for our partners is especially important in a world where our millennial and Gen Z audiences can be hard to reach and build deep, authentic relationships with on many platforms.”

On their permanent profiles, brands can save and showcase lenses, enable a shopping experience which allows for checkout within the app and highlight their best snaps and photos.

Snapchat says brands will also have access to mobile and web management tools to help collaborate with team members, manage content and check audience demographics and interests.

In the coming months, users can follow the profiles of major brands like Ben & Jerry’s, Target and Louis Vuitton. Snapchat says it will open the platform to more businesses later this year.

YouTube Adds New Audience Retention Tool

YouTube has plans to introduce an informational panel that would show creators other videos their viewers have watched and an updated audience retention chart, according to the YouTube Creator Insider channel.

Why it matters: The feature is among the many updates YouTube has implemented recently to help creators earn more money including enabling mid-roll ads for videos that are eight minutes or longer.

The details: YouTube says it’s planning for a 20 percent launch of the new informational panel by July 15. 

Its new audience retention chart would show creators their retention performance across their channel.

Byte App Downloads Jump Amid Threat Of TikTok’s US Ban

According to Sensor Tower, Byte, the second coming of the Vine app, is seeing a spike in downloads in the US following India’s ban of TikTok.

Why it matters: After India banned TikTok, President Trump said the administration was looking to ban TikTok over privacy concerns and the app’s ties to China. Ever since Vine’s transition to Byte, Byte has been gearing up to directly challenge TikTok.

The details: Sensor Tower’s data shows that Byte reached the top spot on the app store charts last week, with single-day global downloads surging from 126,000 on Wednesday to 622,000 on Thursday.

Snapchat Tests TikTok-Like Swipe Navigation

Snapchat is in the early stages of testing a TikTok-style navigation function that would enable users to browse Snapchat’s discover content via a vertical swiping motion, the company confirmed to TechCrunch.

Why it matters: With President Trump hinting at the removal of TikTok in the US, Snapchat could be looking to attract TikTok’s US audience.

The details: First spotted by social media expert Matt Navarra, the vertical swipe feature Snapchat is looking to develop was first popularized by TikTok. A Snapchat spokesperson told TechCrunch that a very small percentage of its users can view the test.

Instagram Adds New IGTV Preview Tools

Instagram has added an option that enables users to edit the preview image and thumbnail for their IGTV videos, as spotted by social media strategist Sumeet Rajpal.

Why it matters: Though small, the update is part of a sequence of new IGTV tools Instagram has launched since it announced IGTV monetization. In April, a new update made it so that users could share the first 15 seconds of their IGTV video in stories, accompanied by an improvement to the display options within the discover tab.

The details: As Rajpal’s screenshot shows, you can control how previews of IGTV videos are displayed, as well as the thumbnail of the IGTV video you want to appear in the discover feed.

YouTube Rolls Out Creator-Focused RPM Metric

YouTube is launching a new “creator-focused metric” called RPM, or Revenue Per Mille, to help creators better track their revenue rate.

Why it matters: The RPM metric is in addition to YouTube’s existing CPM, or Cost Per Mille, metric which displays advertiser spending on ads within YouTube videos. RPM will provide creators with a more holistic view of how their content is performing.

The details: The new RPM metric shows how much a creator earned per 1,000 views. YouTube says RPM is based on multiple revenue sources including ads, channel memberships, YouTube Premium revenue, Super Chat and Super Stickers.

Of course, RPM doesn’t tell a creator’s whole revenue story as it excludes revenue made from selling merchandise, revenue made through brand deals and sponsorships and any other revenue earned indirectly through YouTube.

Doritos Invites Fans To Create Its First Commercial Since The Pandemic

BY

Doritos is inviting consumers feeling quarantine fatigue to create the brand’s first television spot since the pandemic for a chance to win $150,000 and appear on television. The winning spot will be aired on the first Sunday of the NFL season in September.

Doritos announced the #CrashFromHome campaign on its social media channels with a 76-second video spot showcasing previous quirky user-generated content and incentives to participate.

Users can incorporate any of the 11 branded assets on the Crash From Home microsite including the Doritos logo, an image of Doritos and the Doritos crunch sound effect, then upload their video through a form on the site.

Doritos will form a compilation of the best entries into one television spot which will air during week one games of the NFL Kickoff, on September 13. Top entries will also be highlighted on Doritos social channels. The #CrashFromHome contest is open to US residents aged 18 and over from July 15 to July 28.

The campaign is an iteration of Doritos’ popular annual “Crash the Super Bowl” competition, which called on fans to create spots and upped the ante each subsequent year between 2006 and 2016. Since launching, the competition has seen over 36,000 entries and awarded over $7 million in prize money.

In May, Doritos partnered with Twitch Rivals to launch the Doritos Disruptor Series, an influencer-led series of 10 esports events across five different video games, giving streamers the chance to win $10,000 and free Doritos for a year. Call of Duty: Warzone streamer Tyler “TeePee” Polchow hosted the first two events on his channel.

Black Employees Represent Just 3.9 Percent Of Facebook’s Global Workforce

BY

The number of Hispanic and black people in leadership and technical roles at Facebook has seen nominal growth, the company’s 2020 diversity report shows.

The report provides a breakdown of Facebook’s global workforce by gender and race, as well as type of role—leadership, which includes the director level and above, technical and non-technical.

Since 2014, female leadership roles at Facebook have steadily increased, from 23 percent in 2014 to 34.2 percent this year. However, the progress pales in comparison to the number of male leaders, which although has decreased, remains high, at 65.8 percent (down from 77 percent in 2014).

More men than women work in Facebook’s technical roles too—75.9 percent male vs. 24.1 percent female. Whereas women outnumber the amount of men in non-technical roles at 58.5 percent over 41.5 percent.

Black employees held just two percent of leadership roles in 2014. Today, that number remains low, at 3.4 percent. The number of black employees in technical roles has barely managed to double, growing from one percent in 2014 to 1.7 percent in 2020. 

Black employees have seen the most growth in non-technical roles, those that don’t require specialization and knowledge needed to accomplish mathematical, engineering or scientific related tasks.

Overall, black people account for a mere 3.9 percent of all jobs at Facebook.

Progress in leadership roles for Hispanics has stalled even more—in 2014, Hispanics represented four percent of leadership roles, yet the figure dropped to three percent and stayed there until 2018, when it grew to 3.3 percent. This year, 4.3 percent of Hispanic employees are in leadership roles. The number of Hispanic employees in technical roles has also increased, albeit minimally—from three percent in 2014 to 4.3 percent this year. 

Hispanic employees represent 6.3 percent of Facebook’s global workforce. 

Asians seem to be faring the best across the board, accounting for 44.4 percent of all roles, 25.4 percent of leadership roles, 53.4 percent of technical roles and 24.5 percent of non-technical roles.

Those who identify as two races or more account for 3.4 percent of leadership jobs and 3.2 percent of technical jobs.

Facebook has significantly reduced the amount of white people it employs, with all white-held jobs dropping from 57 percent in 2014 to 41 percent this year.

It appears Facebook is promoting racial equity in other ways. In October 2016, Facebook launched its Supplier Diversity program to help support the growth of diverse suppliers, which it defines as companies certified as owned by minorities, women, disabled people, members of LGBTQ and veterans. Facebook says it has spent over $1.1 billion working with these types of companies in the US, spending $515 million on the program alone in 2019.

In January, Facebook rolled out the Supplier Diversity program globally and committed to spending a minimum of $100 million with black-owned companies.

Invisible Forces Controlling Conversations With Yonder CMO Lisa Roberts

BY

During this 216th episode of “Marketing Today,” I interview Lisa Roberts,  the chief marketing officer at Yonder, an AI SaaS company.

Today, we talk about Roberts’ long history in Texas and then move into how her work at Yonder applies to recent waves of communication about coronavirus and the protests for racial equality and social justice. We talk about the implications these waves have for brands and marketers and what Roberts thinks we need to be watching.

Roberts shares how Yonder helps brands understand their market by looking at the activity of highly aligned online groups. She says, “If you can understand how ideas originate and take hold online, you can understand the groups and motivation behind those ideas.” We talk about how marketers can break down complex conversations to understand where individual narratives emerge and spread. Roberts discusses the reality of what brands will need to go through as they decide how to respond to current events. She reminds us, “There is no playbook for what we’re going through right now.” She shares the advice she’s giving to brands as they navigate this new territory. This discussion underscores the importance of knowing which conversations to pay attention to today.

Highlights from this week’s “Marketing Today”:

  • Lisa’s long history living in Texas. 01:44
  • Yonder’s mission. 04:02
  • How Yolo got into understanding factions. 06:04
  • How marketers can think about breaking down complex conversations. 08:21
  • High emotions are impacting the spread of information. 12:47
  • The Costco face mask policy. 13:54
  • How narratives around protests for racial equality and social justice have been shaped online. 18:49
  • Brands need to be thinking about their actions as much as their words. 23:04
  • The advice Yonder is giving brands about how to understand factions. 24:47
  • Backlash in the NFL over executive actions. 29:47
  • Is there an experience in her past that defines who she is today? 30:52
  • What is the advice Lisa would give to her younger self? 33:25
  • The most impactful purchase she has made in the last 6-12 months of $100 or less. 35:06
  • Are there any brands, companies, or causes that Lisa follows that she thinks other people should take notice of? 37:01
  • Lisa’s take on the top opportunity and threat facing marketers today. 39:52

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Alan B. Hart is the creator and host of “Marketing Today with Alan Hart,” a weekly podcast where he interviews leading global marketing professionals and business leaders. Alan advises leading executives and marketing teams on opportunities around brand, customer experience, innovation, and growth. He has consulted with Fortune 100 companies, but he is an entrepreneur at his core, having founded or served as an executive for nine startups.

IAB: Podcast Advertising Revenues Reached $708.1 Million In 2019

BY

With an expected growth rate of 14.7 percent this year, US podcast ad revenues are inching toward the $1 billion mark despite the global pandemic, according to the International Advertising Bureau’s (IAB) fourth annual Podcast Advertising Revenue Report which examines 2019 podcast performance and 2020 projections. The figure represents a downgrade from IAB’s pre-pandemic estimate that podcast ad revenues would increase by 29.6 percent in 2020.

In 2019, podcast advertising revenues grew by 48 percent, reaching $708.1 million, up from $479.1 million in 2018. As IAB’s research shows, podcasts are increasingly becoming part of a brand’s annual planning as annual buys in 2019 reached 47 percent, up from 24 percent in 2018. Whereas scattered advertising dropped to 21 percent of overall buys in 2019.

Top podcast advertisers included direct-to-consumer (DTC) brands (22 percent) and financial services (16 percent). The largest DTC subcategories were health and wellness (22 percent) and home and appliance (19 percent). 

Consumer packaged goods brands increased their investment in podcast ads, from two percent in 2018 to six percent in 2019. Additionally, beverage brands, restaurants and healthcare companies also doubled their investment.

For US podcast advertisers, the leading content genre was news and captured 22 percent of revenue, followed by comedy (17 percent) and society and culture (13 percent).

Direct response ads accounted for 54 percent of podcast ad revenues and mid-roll ads generated 74 percent of ad revenues, with 44 percent of spots being between 31 and 60 seconds.

Over half (66 percent) of podcast ads were read by a host vs. 27 percent which were pre-produced ads. This format makes podcasts more resistant to COVID-19 than other media because flexibility enables messaging to remain relevant as unexpected events occur and sentiments change.

The IAB attributes decreased revenue projections for 2020 to canceled or paused campaigns, a lower volume of requests for proposals (RFPs) and a decrease in cost per thousand impressions (CPMs).

Podcast advertising revenues are expected to rebound in the second half of the year, as IAB notes, historically, one-third of US podcast ad revenue is generated in Q4.

The results are based on a survey IAB sent to companies in mid-March and again in mid-April to account for any changes related to the pandemic.