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editor's CUT
Editor's Cut: The CMO Is Dead.
In the U.S., March is officially Women’s History Month. Since 1981, it has been kicked off on the anniversary of the historic Suffrage March in Washington D.C., where 5,000 women took to the streets to demand the right to vote. The month of March has been dedicated to showcasing the actions and activism of women throughout America.
This year, Facebook’s COO, the lauded Sheryl Sandberg, launched her own missive on women in her book, Lean In, which sparked a firestorm of debate around women and the workplace. Was she trying to promote change and advancement or derail 100 years of feminism? Was it a PR stunt in an attempt to boost Facebook’s profile as an evolved enterprise? Was she blaming women for the state of workplace inequality in the U.S.?
As the media continues to swirl around this memoir/manifesto, one question actually got lobbed in my direction: Where are the women of marketing, and what do I think about leaning in? Let me tackle the second part first.
I can’t remember a time when I didn’t. Just ask my first-grade teacher, who gave up trying to argue against my stance that it was far more effective to stage a coup of the Death Star while the boys were running around and getting sweaty playing storm troopers. Instead of being the captive, I decided to become supreme queen of the galaxy.
And thanks to my time in the overly male-dominated sports industry, I learned that anyone can be a superstar, but more importantly, anyone can be a complete and total egomaniacal, unmitigated idiot—regardless of gender.
In reality, I thank my parents, who didn’t necessarily teach me to lean in, but they sure taught me to never, ever slouch. I am not exactly a wallflower, but my parents wanted to make sure I was limitless, unafraid and properly armed to take on my own fight, no matter the battle. So I was never really into leaning, but I knew if I was strong enough, I could be the person people leaned on and trusted.
Now for the first question: Where are the women of marketing?
I know the question was meant to set up an intricate infographic about the disparity of male CMOs to female CMOs—and yes, that disparity exists, even within the membership of the CMO Council. But ask me where they are, and I can easily say that they sit on the global advisory boards of the CMO Council. Get ready to scroll folks; this is a long and ridiculously impressive list of women with marketing firepower:
- Kathleen Delaney, Senior Vice President of Marketing, ARS US–Aon
- Hope Frank, CMO, Conviva
- Deborah Bussiere, CMO of Americas Markets, Ernst & Young
- Marlene Williamson, Vice President of Global Marketing, Hitachi Global Storage Technologies
- Nancy Bhagat, Vice President of Global Sales and Marketing, Group Director of Marketing Strategy and Campaigns, Intel Corporation
- Eileen Zicchino, Managing Director and CMO, J.P. Morgan Treasury Services
- Lauren Flaherty, Executive Vice President and CMO, Juniper Networks
- Sherry Sanger, Senior Vice President of Marketing, Penske Truck Leasing
- Sandra Zoratti, Vice President of Global Marketing, Ricoh
- Christine Heckart, CMO, ServiceSource
- Shelley Kalfas, Senior Vice President of Marketing–Health Care Client Segment, Sodexo
- Christa Carone, Vice President of Marketing and Communications, Xerox Corporation
- Kim Sharan, Executive Vice President and CMO, Ameriprise Financial
- Alicia Dietsch, Vice President of Marketing Communications, AT&T
- Jacki Ellenby, Vice President of Strategic Marketing Development, Cirque du Soleil
- Linda Gharib, Senior Vice President of Digital Marketing, Citi
- Frances Allen, Executive Vice President and CMO, Denny’s
- Lisa Gavales, CMO, Express
- Elizabeth Pizzinato, Senior Vice President of Marketing and Communications, Four Seasons Hotels & Resorts
- Lisa Mark, Director of Strategic Marketing and Communications, Fox Sports
- Alexandra Morehouse, Vice President of Brand Experience and Advertising, Kaiser Permanente
- Marie-Josee Lamothe, CMO and CCO, L’Oreal Canada
- Shelagh Stoneham, Senior Vice President and General Manager of Brands and Marketing Communications, Rogers Communications
- Blair R. Shane, CMO, Stanford Graduate School of Business
- Kristen O’Hara, CMO, Time Warner Global Media Group
- Cheryl Callan, Senior Vice President of Marketing, Weight Watchers
- Robin Korman, Senior Vice President of Loyalty Marketing and Strategic Partnerships, Wyndham Hotel Group
- Jan Soderstrom, Chairwoman of the CMO Council North America Advisory Board
And that’s just in North America! Around the globe, the CMO Council has 104 women serving as trusted advisors and valued members of our various regional advisory boards, including in Asia, the Middle East and Africa.
So what is the common trait that these women possess? Are they all leaners? In my opinion, these women don’t just lean in—they lead in. And isn’t that the difference? They are leading. Thanks to these women, I am inspired and challenged to also be a leader, not just a leaner. It seems that it just isn’t enough for anyone—man or woman—to just lean.
So this month, rather than dedicating my space to the dilemma over big data or the schism over social, I dedicate this note to the amazing, accomplished and awe-inspiring women of the CMO Council. It is an honor to work with and for you. And to the women still moving along the path—who, like myself, are still working to learn what we want to be when we grow up—I offer this: Lead, don’t lean. Leaning can get you tipped over. Leading gets you onto a list like the one above.
Until next month!
Liz Miller
CMO Council
Please boost my ego and follow me on Twitter: @lizkmiller on Twitter
editor's CUT
Editor's Cut:
Wonder what that burning smell is in the world of marketing?
It might be the agency fire sale stoked by the announcement that holding company Publicis Groupe will be shelling out $4 billion over five years on acquisitions. Then again, it might be the torches that both marketers and agencies are taking to the old-fashioned agency-brand relationship.
First and foremost, Maurice Levy of Publicis, you can feel free to send that $500 million cashier's check to the CMO Council if you are really in the buying mood for a global voice in marketing. Just saying… there is always time for a chat. Parlez vous CMO?
But second, and perhaps a bit less opportunistic, is the fact that Publicis—regarded by many to be an undeniable, global powerhouse of a marketing machine—is also struggling to conjure the perfect mix of skills that can address an increasingly digital, fragmented and global marketplace.
"We are not only about media and storytelling, it's also marketing and sales, and we've moved into the space of technology and innovation," explained Levy. But even while I appreciate Mr. Levy's push for diversification and innovation, I can't help but feel like it is just a step behind where marketers are advancing in their strategies, mandates and business goals. To demonstrate what I mean, let's take a spin through CMO Council data-point history:
2006
The CMO Council asks CEOs why a new CMO was brought in… More than 50 percent say it is to fix a broken marketing machine. What's number one on the repair list? Bringing measurement and rigor to the marketing process. Goodbye, random acts of branding—hello to the dawn of the data-driven marketer as the marketing evolution kicks into full swing.
2007
The CMO Council launches its first-ever "State of Marketing" study (called "Marketing Outlook") and asks where brands are looking to shift agencies. Thirty-six percent say there's no change in the works, but 36 percent are looking for new PR, 21 percent for new web and 21 percent for new ad agencies.
2011
The CMO Council asks marketers about the value and contributions of their agency partners. Thirty-seven percent say their agencies are average or underperforming while 38 percent say they are "pretty good." When asked why change is coming, 35 percent point to a lack of value-added thinking, 33 percent say lack of innovation, and 28 percent say the results didn't meet their expectations.
2012
The CMO Council conducts a study specifically looking at the agency-client dynamic. Forty-seven percent of brands say they are building internal solutions and using less traditional agency services; 28 percent say agencies are acquiring but not fully integrating digital capabilities; 44 percent say agencies are playing catch-up or are struggling to transition to digital; and 58 percent say they are not satisfied with the process for measuring advertising or agency effectiveness. I am also branded a liar by one agency head during a conference panel and am told that CMOs don't know what they need—that is why they hire agencies.
2013
The CMO Council's "State of Marketing 2012" report indicates that 46 percent now believe their agencies are average or underperforming. Also distressing is the rise in dissatisfaction with value and results as 44 percent of respondents say churn is attributed to a lack of value-added thinking or innovation, and 33 percent are dissatisfied with results. Also of note is the number of marketers bringing skills in-house as 17 percent are training internally compared to 11 percent in 2011.
I totally agree that the system is battered at best, broken at worst and that changes like those Mr. Levy is spearheading are all positive. But what I can't ignore is the sense that the voice of the marketer is somehow lost or hasn't become loud enough. For our part, the CMO Council will keep asking questions and revealing the peer-powered thinking about where and how brand owners are looking for improvements in the agency dynamic. But it may be time for marketers to become active participants in how—and how quickly—agencies transform. Churn is an amazing catalyst, but so is a loud group of CMOs who are actively demanding value instead of waiting for the system to change.
And to Mr. Levy, give me a call… I've got a couple of reports you may want to read.
Until next month!
Liz Miller
CMO Council
Please boost my ego and follow me on Twitter: @lizkmiller on Twitter
editor's CUT
Editor's Cut:
Several months ago, while checking my bank statement, I noticed a rather large charge by a website I did not know.
Super-sleuth that I am, I visited the website for NuWave Oven, and after surfing through the About and Contact pages on the site, I found a customer service number, called and confirmed that these were fraudulent charges. I got my bank involved, fought the charges and eventually had them reversed.
But this is where the fun really begins. It has been three months, and I am still being served digital display units for this damn oven.
“Don’t forget!” “What’s STOPPING you?” “New Features, Come Back,” and “You NEED the World’s Best Oven” are general themes for all of the banners. Even if I was remotely interested in being the owner of one of these feats of culinary wonder, I still wouldn’t click on this flood of free shipping, deep discounts and other random special offers they keep throwing my way.
But let’s keep in mind that I only visited two or three pages—namely the home page, the About page and the Contact page. I never looked at the features or benefits. I never added the oven to a shopping cart. I never looked for anything other than a way to report the fraudulent charges. I have never clicked on one of these banners. So rather than moving beyond this incident, I am reminded every time I open my web browser that NuWaveOven.com stole money from me. And before you say it…yes, I have cleared my history, my cache and anything else I can think of. Like the cockroach, it is still there.
I get retargeting. Really, I do. But more and more, my story and stories that include phrases like “featured the product I already ordered” or “the price was lower in the banner” are the norm. And while some will argue that brand advertising doesn’t require a call to action and is really being placed to continuously influence my buying behavior, in this case I was never shopping—so there was never a behavior to modify.
My issue with retargeting is the absolute absence of context and lack of content strategy. While the selection of ad or even the site it is placed on may be mildly relevant, the content is completely stripped from the equation. If I have already concluded my transaction, why do I want to be reminded about the same exact product? Wouldn’t it make more sense to serve up a complimentary handbag to match the shoes I just bought?
But let’s break this into some marketing numbers. Digital banner display units have a click-through rate of about 0.1 percent, which means, in a wise observation by Solve Media, you are more likely to survive a plane crash than click on a banner ad. According to eMarketer, 34 percent of consumers don’t even trust banner ads. And why would they? If they are between ages 25 and 34, they see an average of 2,094 per month.¹ But when you consider that more than 90 percent of consumers will not complete an online transaction on their first visit—and recent numbers point to consumers being nearly 70 percent² more likely to complete that transaction thanks to retargeting—the call to retarget becomes an easy one to hear.
As we spend more of our strategic efforts on creating relevant experiences through our optimized content marketing programs, we can’t assume that simply knowing where and when to serve up that content also answers the question of what to serve. We have a fine line to walk, steering the ship far away from the creepy equator where the customers suddenly feel we know a bit too much about them now.
We have to consider the context and behavior that our advertising is drawing out of our users. If I serve up the same ad 50 times and you never click it, that dismissal just might be a sign. Cookies, at this basic level of retargeting, don’t see the eye rolling or blasé that the 9,000th serving of the NuWave oven brings to my web experience. All that cookie knows is that I went to a site so I should be banner-bullied into buying.
The answer isn’t to just throw out retargeting, similar to the rash decisions we have made about print and other worthwhile tools in our marketing toolkits. Instead, we need to embrace the evolution of retargeting and move toward Retargeting Part 2. The good news is that there are tools out there that are already pushing this advancement to the second version, including companies that can bolt on intelligence to your retargeting programs, allowing you to score and predict how users may react to your banner.
Just like with the whole marketing strategy, retargeting must take on more intelligence because believe me—our customers are getting smarter, and they are learning to ignore more as we continue to deliver more irrelevant experiences.
Until next month!
Liz Miller
CMO Council
Please boost my ego and follow me on Twitter: @lizkmiller on Twitter
¹ComScore
