Report: Marketers Face High Revenue Targets And Scarcity Of Resources

BY

The rise of the self-reliant buyer and digital-first customer journey has upended a large part of the sales action to the top of the funnel, making chief marketing officers responsible for 44 percent of a company’s revenue today versus just 10 percent in the mid-2000s. That’s according to the CMO Council’s latest report, which found that 63 percent of marketers are under very high to extreme pressure to deliver revenue growth due to challenges, including the need to prove marketing attribution to revenue and show that data analytics and marketing tech are worth the investment.

Facing a scarcity of resources and a skeptical chief executive officer, marketers are at risk of missing their revenue mark, with 53 percent saying they’re only moderately confident or worse that they’ll meet their revenue targets. Pressure from the top is weighing heavy on them, as 57 percent think their CEO is only moderately satisfied or worse with marketing’s performance.

The acceleration of online shopping is only exacerbating marketing leaders’ doubts. In this new digital-first era, 80 percent of respondents say that the shift of the self-reliant buyer has made marketing more valuable than ever.

The CMO Council found that 90 percent of marketers are expected to grow revenue this year. Despite 65 percent of marketers saying they plan to increase marketing spend in 2021, budgets haven’t grown enough to support all of marketing’s activities, including brand-building, digital experience and personalized content.

Nearly all (95 percent) of CMOs who admitted a lack of resources say this resulted in missed revenue opportunities. Many of the internal hurdles they’re facing come back to the lack of education around marketing impact on revenue—measuring the full value of marketing, misunderstanding of the new buyer’s journey, lack of clarity about ownership of outcomes and unrealistic expectations from sales.

Consumers’ desire for meaningful, personalized experience necessitates first-party data and MarTech. But when CMOs don’t have buy-in from C-suite because they’re unable to show how much revenue MarTech will generate before implementing it, they miss out on data literacy skills and the opportunity to meet the demands of the self-reliant buyer.

Data is crucial but only when marketers can make sense of it. Yet three out of four respondents have data literacy gaps, reports the CMO Council. What’s worse, only 20 percent of CMOs are successful when it comes to leveraging data to identify and target customers and just 27 percent can leverage data successfully to gain insights into shifting behaviors. To top it off, just a quarter are successful when acting on those insights.

“I see AI being integrated into our products and data analysis to determine the next best action for marketers to engage the customer. Eventually, we’re going to get to where AI engages the customer directly, and calls to humans only happen when required,” Mark Phibbs, vice president of marketing and communications for Cisco across Asia Pacific, Japan and Greater China, told the CMO Council.

Over the next 12 months, 69 percent of marketers plan to increase their MarTech spend, with the top three priorities being marketing analytics (50 percent), content marketing (41 percent) and audience/marketing data and data enhancement (37 percent).

To improve their odds, the CMO Council suggests marketers prioritize the digital experience, double-down on data analytics to help prove revenue attribution and create content that works well with omnichannel.

How Mobile Games Can Plan For Sustainable Growth

BY

Last year, the mobile games industry brought in a whopping $77.2 billion and recorded a 12 percent year-over-year increase in the number of players. And although lockdowns contributed to those figures, it doesn’t appear that momentum will stabilize anytime soon. Because in Q1 2021 alone, consumers spent $22.2 billion on mobile games. But what will it take to sustain that growth long-term? Creativity and innovation.

At this year’s LAGC Online, Ayzenberg president Chris Younger will moderate a panel of leaders from Google, Zynga, AdColony and more, who discuss where the next wave of creativity and innovation will come from in mobile games. And as the industry evolves, how developers and publishers will retain these new users. Don’t forget to tune in.

Details:

  • Where: LAGC Online 2021
  • What: The Growth of Mobile Games: What’s Next in Creativity & Innovation?
  • When: Wednesday, May 12 @ 11 AM to 11:45 AM, PST
  • Who: Moderated by Chris Younger, President, Ayzenberg

Panelists:

  • Itamar Benedy, Co-Founder & CEO, Anzu.io
  • Brandon Cubillas, Head of Industry for App Gaming at Google
  • Gabrielle Heyman, Head of Global Ad Sales, Zynga
  • Kyu Lee, President, GAMEVIL COM2US USA
  • Liz Waldeck Pinckert, VP, Business Development Supply North America and Europe, AdColony

SoundCloud Names Lauren Wirtzer-Seawood Chief Content And Marketing Officer

BY

This week in leadership updates, SoundCloud names Lauren Wirtzer-Seawood chief content and marketing officer, AutoFi appoints Kerri Wise vice president of marketing, Hostess hires Dan O’Leary as chief growth officer, Lucid Motors taps Jeff Curry as first-ever chief marketing officer and more.

SoundCloud Appoints Lauren Wirtzer-Seawood As Chief Content And Marketing Officer

SoundCloud has tapped Lauren Wirtzer-Seawood as chief content and marketing officer.

Writzer-Seawood joins SoundCloud from UnitedMasters, where she served as president. Previously, she was head of music partnerships at Instagram and head of digital at Parkwood Entertainment, respectively. 

AutoFi Hires Kerri Wise As Vice President Of Marketing

AutoFi has appointed Kerri Wise as VP of marketing.

Wise is the founder and president of Women of Color Automotive Network and previously served as VP of corporate marketing for TrueCar.

Hostess Taps Dan O’Leary As Chief Growth Officer

Hostess has announced the appointment of Dan O’Leary to the newly created role of chief growth officer.

Before Hostess, O’Leary was general manager at Tyson’s prepared retail segment and SVP of marketing for Mizkan America, respectively.

Lucid Motors Names Jeff Curry Its First-Ever Chief Marketing Officer

Jeff Curry has been named Lucid Motors’ first CMO, reports MediaPost.

Most recently, Curry was VP of Jaguar and before that VP of marketing for Ferrari.

Accenture Appoints Jill Kramer Chief Marketing And Communications Officer

Jill Kramer, Accenture’s current global head of brand, is succeeding Amy Fuller, who recently announced her retirement from chief marketing and communications officer.

Kramer has been with Accenture for nearly six years.

American Outdoor Brands Names Curtis Smith First Chief Marketing Officer

American Outdoor Brands has elevated Curtis Smith to the newly created role of CMO, according to a press release.

Smith has worked at American Outdoor Brands since October 2017, serving as VP of marketing.

Previously he held global leadership roles at Vista Outdoor and Coleman Company.

The Future Of Advertising In Video Games With Adverty’s Niklas Bakos

BY

Niklas Bakos is the founder and chief strategy officer at Adverty, a company that helps put advertisements in video games. In this episode, Bakos and I discuss what in-game advertising looks like and how esports has exploded in popularity. 

The conversation starts with why Bakos founded Adverty. Having spent most of his career in the gaming industry, he saw a huge opportunity for marketers to easily reach their target audiences and do it “at scale.”

They discuss the esports revolution, why in-game advertising is more insightful than real-life street advertising, and how a marketer should be thinking about it.

In this episode, you’ll learn:

  • How mobile gaming is the leading platform for advertising
  • How in-game advertisements are more insightful than real-life advertisements
  • Why esports is the next gaming revolution

Key Highlights:

  • [01:12] Niklas’s “big fat cat”
  • [01:51] Why Niklas founded Adverty
  • [03:26] What is Adverty
  • [04:27] What in-game advertising looks like
  • [09:06] The brain impression algorithm
  • [14:37] The future of ad placement and pricing
  • [15:48] How to think about esports and its future
  • [19:00] Why mobile gaming has such a far reach
  • [21:12] Who is doing in-game marketing well
  • [22:43] The future of esports and in-game marketing
  • [24:18] An experience that defines Niklas, made him who he is today 
  • [25:52] Niklas’s advice for his younger self
  • [26:30] Niklas’s recent impactful purchase
  • [27:28] The brands, companies, and causes Niklas follows
  • [29:28] What Niklas says is today’s biggest threat and opportunity for marketers

Resources Mentioned: 

Subscribe to the podcast:

Connect with the Guest:

Connect with Marketing Today and Alan Hart:

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.

What We’re Reading—Week Of May 3rd

BY

A rundown of the major insights for marketers and advertisers from the week of May 3rd, 2021.

Digital Media’s Big Show Loses Some Glitz Just As Streaming Explodes. Maybe That’s Not A Bad Thing

Marketing Dive

For the second consecutive year, the Interactive Advertising Bureau’s NewFronts digital media marketplace is going online. Many media buyers are embracing the lack of star-studded events and cocktail hours and are instead turning their attention to which partners can bring value around privacy, measurement and diversity. For publishers and platforms, the upsides of virtual NewFronts include doing away with the cost of renting out physical venues and putting on a complex stage production.

Why it matters: Amazon is new to this year’s NewFronts presentation while Hulu, a staple presenter since 2012, won’t be attending as it’s been folded into its owner Disney’s upfronts roadshow—a break that demonstrates how digital natives and traditional media companies are viewing the streaming race.

More Dolls, Fewer Screens: Barbie Promotes The Brain Benefits Of Play

The Drum

Mattel recently kicked off a new global campaign “A doll can help change the world” inspired by a neuroscience study that suggestS playing with dolls supports kids’ ability to develop social processing skills and empathy. The campaign, part of Barbie’s “You Can Be Anything” initiative, kicks off with a 60-second spot and will extend to retail initiatives and brand partnerships.

Why it matters: Barbie’s efforts to foster empathy and inclusivity in childhood comes after a brand survey conducted found that, as of last July, 91 percent of parents ranked empathy as a key social skill they want their child to develop. In addition, a Barbie spokesperson says that in 2020 the brand saw its highest year-over-year growth in over two decades.

CMO’s New M.O.—Campbell’s Linda Lee Brings Courage And Comfort When Consumers Need It Most

Forbes

Linda Lee, Campbell’s chief marketing officer for the company’s meals and beverages division, says that to address the current racial strife, Campbell’s launched a new Inclusion and Diversity strategy and hired its first-ever chief culture officer, Camille Pierce to lead those efforts.

Why it matters: Campbell’s partnered with a multicultural agency to determine what role each of its core brands might play in tackling social issues. In addition, Lee says they implemented a recruiting and talent development program to ensure diversity is reflected in its group.

Blockchain Glossary For Your Next Crypto Project

Adweek

This comprehensive glossary from Shelly Palmer, Adweek opinion contributor and chief executive of The Palmer Group, features easy-to-understand definitions of every crypto term—from NFT (Non-Fungible Token) and Blockchain to Ethereum and Stablecoin.

Why it matters: NFTs, defined as unique tokens often used for collectibles or specific assets, such as a loan, have taken over the worlds of art, music, fashion and even fast food. In March, for example, Taco Bell created taco-themed GIFs that were sold on an NFT marketplace called Rarible; about 25 tokens, or pieces of art, sold out in under 30 minutes.

Brands Must Build Digital Assets In A Privacy-First World: Marketing Experts

Mint

With Apple’s IDFA privacy update and deprecation of cookies, many marketers are perceiving first-party data maintenance as a cost rather than an investment, a flawed approach that may cost them a higher return on investment.

Why it matters: To own a direct relationship with customers, brands should invest in building their own digital assets then attract their target audience through discounts and promotional offers and thereafter feed their interests via content marketing.

BurgerFi Names Henry Gonzalez Chief Marketing Officer

BY

This week in leadership updates, BurgerFi taps Henry Gonzalez as chief marketing officer, the American Association of Advertising Agencies appoints new executive leadership members, Volkswagen Australia marketing and customer experience chief Jason Bradshaw resigns and more. 

BurgerFi Appoints Henry Gonzalez As Chief Marketing Officer

BurgerFi’s new CMO is Henry Gonzalez, reports Fast Casual.

Gonzalez joins BurgerFi from Bigger Slice Consulting, a marketing consultancy firm he founded in 2019. Prior to that, he served as CMO of Costa Farms for nearly two years.

The 4A’s Appoints New Members To Executive Leadership Team

The American Association of Advertising Agencies (4A’s) has named four executive leadership changes.

The first includes the appointment of Ashwini Karandikar to executive vice president, media, tech, and data. Karandikar most recently worked as a senior advisor for McKinsey’s High Tech, Media & Telecom Practice.

Mollie Rosen has been elevated to a new role—EVP, strategy, insight and innovation—after leading member engagement and development for the past seven years.

Next, Greg Walker has accepted a promotion as EVP, member engagement and development – independent agencies and retention. Walker last served as senior   VP member engagement and development for the southern region at the 4A’s.

Lastly, Brian Nienhaus has been elevated to the role of EVP, member engagement and development – holding companies and growth. Nienhaus most recently worked as SVP, member engagement and development for the 4A’s central region.

Volkswagen Australia Marketing Chief Jason Bradshaw Steps Down

According to CMO, Volkswagen Australia’s general manager of customer and marketing, Jason Bradshaw, has left his post to pursue his own customer experience agency.

Volkswagen has replaced Bradshaw with Rick Whaite as its new GM of customer experience. Whaite joins Volkswagen from Alinta Energy where he served as national marketing and partnerships manager.

Lift Brands Names Rose Minar As Chief Marketing Officer

Among a series of new C-Suite appointments, Lift Brands has tapped Rose Minar as CMO.

Minar previously worked at Radisson Hotel Group for nearly four years, most recently as a brand and strategic initiatives consultant.  

WarnerMedia Elevates Deepa Sridhar To Director Of Marketing For South Asia

WarnerMedia has promoted Deepa Sridhar to director of marketing for South Asia, according to Brand Equity.

Sridhar has been with WarnerMedia for over five years. Previously, she was director of corporate communications and CNN marketing for South Asia.

What We’re Reading—Week Of April 26th

BY

A look at the insights we’re sharing internally this week from various marketing publications.

Booking.com CMO On Brand’s Pivot To Local Sights, And What Comes Next

Campaign Live

After COVID wiped out much of its business and forced it to cut staff by a quarter, Booking.com pivoted its marketing by reminding people that they can travel locally and emphasizing its flexible cancellation policy.

Why it matters: The company surveyed more than 28,000 travelers across 28 marketers to gauge their thoughts about traveling when it’s safe to do so again. Seventy-seven percent of respondents stated that they’d rather go on vacation this year than find true love and nearly 70 percent of Hong Kong travelers said they’ll only travel to countries that have implemented vaccine programs.

Purpose At Work: Lessons From VSP Global On How To Lead With Purpose

Forbes

After months of internal work, optical industry leader VSP Global landed on a new brand purpose: “to empower human potential through sight.” To integrate this purpose in its corporate culture authentically, chief marketing officer Wendy Hauteman says VSP trained leadership and appointed “purpose ambassadors” across the employee ranks.

Why it matters: As Hauteman notes, a McKinsey study showed that 82 percent of employees believe it’s really important for their employer to have a purpose.

TikTok Is Now The Second Most Popular Platform For Influencer Marketing

ION

According to Linqia’s fifth annual ‘The State of Influencer Marketing 2021’ report, 16 percent of marketers planned to use TikTok in their influencer campaigns early last year, while 68 percent plan to use the platform in 2021—a 325 percent jump.

Why it matters: Influencer marketing interest in Twitter and Facebook dipped this year, from 35 to 32 percent for the former and 79 to 68 percent for the latter.

FMCG Ad Spend To Recover After COVID-19 Slump

The Drum

Zenith’s business intelligence report shows that fast-moving consumer goods (FMCG) brands will increase their ad spends by 7 percent a year to 2023. The forecast comes as ad expenditure by FMCG brands plummeted by nearly 11 percent to $26.7 billion in 2020. 

Why it matters: FMCG out-of-home advertising is projected to grow by 9 percent a year from 2020 to 2023, but TV is likely to be the top beneficiary of the rebound given it represented 38.5 percent of FMCG ad spend last year–though still less than digital, which accounts for 46.1 percent of the FMCG ad market. 

The End Of Pandemic Means Major Changes For 3 Mobile App Categories

Marketing Drive

After a year that saw consumers using their mobile devices more often and in more ways than they used to, MOLOCO chief operating officer Brian Yoo believes dating apps will see an influx of organic downloads, the end of lockdown will trigger huge engagement in dining apps and that those who became mobile gamers in lockdowns will remain post-COVID.

Why it matters: Yoo suggests dating app marketers allocate budget for remarketing efforts to entice their most valuable users who may have taken a break during lockdown. In addition, he believes food delivery app volumes will plateau at a much higher level than they were pre-pandemic.

Betting On Partnerships To Amplify Your Brand With Churchill Downs’ Kristin Warfield

BY

Kristin Warfield is the vice president of partnerships at Churchill Downs, home of the Kentucky Derby since 1875. During her twelve years at the historic racetrack, she has championed significant growth in the track’s partnership development and activation efforts. It includes new and expanded relations with Longines, the official timekeeper of the Kentucky Derby and title sponsor of the Kentucky Oaks; Woodford Reserve, the presenting sponsor of the Kentucky Derby; and MassMutual, among many other alliances.

In this episode, we begin with Warfield’s trajectory to becoming the vice president of partnerships and why the Kentucky Derby is such a unique experience. Even though people come to the Derby for varied reasons, Warfield believes that “There’s a party for everyone” and makes it her focus to partner with companies to give them the experience they seek. 

Warfield discusses the shifts she had to make to work with partners in the last year and what makes a good partner in the first place. 

For anyone interested in horse racing, history, fashion, or the relationship between marketing and partnerships to amplify your brand, this episode is for you. 

In this episode, you’ll learn:

  • What makes the Kentucky Derby such a unique experience
  • How a digital shift can amplify customer engagement
  • What makes a good partnership
  • Using partnerships to connect with your customers

Key Highlights:

  • [01:41] Kristin’s backup career as Bingo the Clown
  • [02:55] How Kristin “fell into sports”
  • [05:05] Why the Kentucky Derby is a unique sport
  • [08:34] How COVID impacted the Derby
  • [11:13] Partner shifts to digital and virtual activations
  • [15:07] Cross-collaborations with partners
  • [16:50] The new Jackson Family Wines partnership
  • [18:36] The perfect blend of wine and racing 
  • [22:01] What makes for a good partnership
  • [27:44] Kristin’s advice to marketers identifying or negotiating partnership deals
  • [29:11] An experience that defines Kristin, made her who she is today 
  • [30:40] Kristin’s advice for her younger self
  • [31:05] Kristin’s recent impactful purchase
  • [32:25] The brands, companies, and causes Kristin follows
  • [33:50] What Kristin says is today’s biggest threat and opportunity for marketers

Resources Mentioned: 

Subscribe to the podcast:

Connect with the Guest:

Connect with Marketing Today and Alan Hart:

Alan B. Hart is the creator and host of “Marketing Today with Alan Hart,” a weekly podcast where he interviews leading global marketing 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.

WWE Names Claudine Lilien As Head Of Global Sales And Partnerships

BY

This week in leadership updates, WWE appoints Claudine Lilien as head of global sales and partnerships, the World Federation of Advertisers appoints new global leadership members and the Ad Council names 27 new board members.

WWE Taps Claudine Lilien As Senior Vice President And Head Of Global Sales And Partnerships

WWE has named Claudine Lilien SVP and head of global sales and partnerships. She will report to Stephanie McMahon, WWE chief brand officer.

Lilien spent over 15 years at FOX Corporation. Most recently she served as SVP, client solutions at FOX Sports.

The World Federation Of Advertisers (WFA) Appoints New Global Leadership Team

The WFA has announced several new appointments for its global team.

First up, Raja Rajamannar, Mastercard chief marketing and communications officer, has been re-elected as president for a second term that runs until April 2023.

Conny Braams, Unilever chief digital and marketing officer, has been named deputy president.

Firdaus Shariff, VP of marketing, communications and digital customer experience, MEA at Schneider Electric, has been named WFA’s first-ever regional VP for the Middle East.

In addition, Lubomira Rochet, L’Oréal chief digital officer, will become regional VP for Europe.

See here for the WFA’s full list of executive committee members, including new representatives from national advertiser associations.

The Ad Council Elects 27 New Board Members

During its virtual spring meeting, the Ad Council appointed 27 new members to its board of directors. The new members include:

  • Lara Balazs, EVP, CMO & GM, Strategic Partner Group, Intuit
  • Nadja Bellan-White, Global CMO, VICE Media Group
  • Devika Bulchandani, CEO, Ogilvy North America & Global Chairwoman of Advertising, Ogilvy
  • Ingrid Burton, CMO, Quantcast
  • JP Colaco, Head of Advertising Sales, WarnerMedia
  • Maurice Cooper, SVP, Brand & Category Marketing, Target Corporation
  • Jill Cress, Vice President Consumer Marketing, PayPal
  • Norman de Greve, Chief Marketing Officer, CVS Health
  • Morgan Flatley, SVP, Chief Marketing & Digital Customer Experience Officer, McDonald’s Corporation
  • Sarah Franklin, CMO, Salesforce
  • Josh Gillon, Chief Executive Officer, What If Media Group
  • Jeremi Gorman, Chief Business Officer, Snap Inc.
  • Tariq H. Hassan, Chief Marketing Officer, Petco
  • E. Yuri Hermida, EVP North America Hygiene, RB
  • Susan Somersille Johnson, Chief Marketing Officer, Prudential Financial, Inc.
  • Bill Kolb, Chairman and CEO, McCann Worldgroup
  • Heather Malenshek, SVP, Chief Marketing Officer, Land O’Lakes Inc
  • Jamie Moldafsky, Chief Marketing & Communications Officer, Nielsen
  • Alan Moss, VP, Global Advertising Sales, Amazon
  • Charlie Neer, Chief Revenue Officer, MiQ Digital
  • Todd Pendleton, Chief Marketing Officer, Dolby
  • Ann Rubin, VP, Corporate Marketing, IBM
  • Carrie Seifer, General Manager – North America, GWI
  • Justin Thomas-Copeland, President & CEO, DDB North America, DDB Worldwide
  • Dara Treseder, SVP, Head of Global Marketing & Communications, Peloton
  • Tiffany R. Warren, EVP, Chief Diversity & Inclusion Officer, Sony Music Group
  • Janey Whiteside, EVP & Chief Customer Officer, Walmart

Human Behavior Should Inform Your Brand Positioning With Panera’s Eduardo Luz

BY

On this 256th episode of Marketing Today, Eduardo Luz, chief brand and concept officer at Panera, discusses the pivots Panera executed during the pandemic, including how they positioned their mobile app and the innovations they implemented in their menu offerings.

Eduardo sees the future of marketing as really honing in and connecting with your consumer. As Panera changed its menu and shifted to what Eduardo calls “warmer offerings,” they started to see the incremental success that has propelled their business forward. 

The conversation covers consumer behavior and Panera’s new company value: respect for the planet. To hear how Eduardo thinks about the future of consumer behavior and its impact on marketing, listen to Marketing Today.

In this episode, you’ll learn:

  • Changes in direct-to-consumer interaction
  • How your company positioning impacts success
  • Why listening to your consumers is essential
  • How Panera shifted during the pandemic 
  • How Panera leaned on its “promise” to expand its offerings

Key Highlights:

  • [01:52] Where Eduardo grew up
  • [02:50] How Eduardo ended up in marketing
  • [04:42] Shifts in the consumer industry
  • [06:25] Eduardo joins Panera at the peak of the pandemic
  • [07:46] The role Eduardo was expected to fill 
  • [11:02] Panera’s positioning before the pandemic
  • [12:48] How these shifts impacted Panera
  • [14:30] Panera’s updated menu
  • [18:30] Why Panera expanded to pizza
  • [22:10] Panera’s new value: respect for the planet
  • [25:13] The future of Panera
  • [27:34] An experience that defines Eduardo, made him who he is today 
  • [29:18] Eduardo’s advice for his younger self
  • [30:08] Eduardo’s recent impactful purchase
  • [30:52] The brands, companies, and causes Eduardo follows
  • [32:12] What Eduardo says is today’s biggest threat and opportunity for marketers

Resources Mentioned: 

Subscribe to the podcast:

Connect with the Guest:

Connect with Marketing Today and Alan Hart:

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.