Listen In: What I Love/Hate About Clients/Agencies With Microsoft’s Sam Reich

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(Originally aired July 8th on LinkedIn Live.)

We’re back with another episode of a.network’s weekly series Listen In, created and hosted by Ayzenberg principal and ECD Matt Bretz. This week we’re featuring a conversation between Matt and Sam Reich, integrated marketing communications lead at Microsoft. The discussion includes tips on how to make your client/agency relationships better with trust, openness and empathy, no matter which side of the brief you’re working on.

About Listen In: Each week on Listen In, Bretz and a rotating cast of hosts from Ayzenberg interview experts in the field of marketing and advertising to explore uncharted territory together. The goal is to provide the a.network audience with actionable insights, enabling them to excel in their field.

Report: More Diverse Companies Outperform Financially

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In 2019, companies in the top quartile for ethnic and cultural diversity outperformed those in the fourth quartile by 36 percent in profitability, slightly up from 33 percent in 2017 and 35 percent in 2014. That’s according to the third report in a McKinsey series investigating the business case for diversity, “Diversity Wins.” Though the research predates coronavirus, the findings remain highly relevant as companies examine their diversity and inclusion practices and seek to mitigate systemic racism in the workplace.

McKinsey’s research reveals that the companies whose leadership has the most gender and ethnic and cultural diversity are now more likely than ever to be more profitable than their less diverse counterparts.

Companies in the top quartile for gender diversity on executive teams were 25 percent more likely to achieve above-average profitability than companies in the fourth quartile, up from 21 percent in 2017 and 15 percent in 2014.

McKinsey also found that the greater an executive team’s representation, the higher the likelihood of outperformance. For example, companies with over 30 percent women executives were more likely to perform better than companies where this percentage ranged from 10 to 30; these companies were more likely to outperform those with even fewer female executives, or none at all.

The most gender-diverse companies were 48 percent more likely to perform better than the least gender-diverse companies.

Ethnically- and culturally-diverse companies are 36 percent more likely to be profitable than the least diverse companies.

Echoing McKinsey’s finding from its 2017 and 2014 reports, the data also suggests ethnically-diverse companies outperform gender-diverse companies.

However beneficial championing diversity is to a company’s bottom line, there’s been a lack of material progress in representation across organizations. Since the researcher started analyzing the data globally, in 2017, gender diversity grew just one percentage point, from 14 percent in 2017 to 15 percent in 2019. In the companies from McKinsey’s original 2014 data set, which were based in the US and the UK, female representation on executive teams grew from 15 percent to 20 percent in 2019.

Additionally, over a third of the companies McKinsey analyzed still have no women at all on their executive teams.

The representation of ethnic-minorities has also stalled: on UK and US teams, the figure grew from seven percent in 2014 to 13 percent in 2019. Globally, the number increased by just two percentage points—from 12 percent in 2017 to 14 percent in 2019.

McKinsey also noticed a growing polarization between inclusion and diversity leaders and companies that have yet to embrace diversity. McKinsey identified five cohorts based on the progress of companies on executive diversity from 2014 to 2019—Fast Movers, Diversity Leaders, Moderate Movers, Resting on Laurels and Laggards.

Fast Movers on gender diversity have nearly quadrupled the representation of women on executive teams to 27 percent. Whereas regarding ethnicity, the same cohort increased their level of diversity from just one percent in 2014 to 18 percent in 2019.

The Laggards cohort have regressed even further—in 2019, women comprised just eight percent of the executive team members at these companies and members from ethnic minority groups accounted for none.

The remaining two cohorts, Moderate Movers and Resting on Laurels, have similarly become less diverse since 2014.

The findings are based on an analysis of more than 1,000 major companies in 15 countries.

The Most Emotionally Engaging Coronavirus Ads

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As the pandemic hit, many brands swiftly shifted from product-centric to purpose-driven messaging to avoid appearing insensitive. A new study from Unruly that measured viewers’ emotional responses to coronavirus ads around the world shows that brands successfully pulled at consumers’ heartstrings during the pandemic.

Unruly measured the emotional reactions of 18,499 global consumers to 52 coronavirus ads, using its emotional testing tool, UnrulyEQ, as well as its EMO Index to account for differences in how people emotionally express themselves worldwide. 

Google Japan’s 60-second “Thank You” spot—a compilation of mobile phone and video call footage of health care workers on the front lines of coronavirus—was ranked the most emotionally engaging coronavirus campaign in the world. 

The “Thank You” campaign, Unruly found, is three times more emotional than the average Japanese ad. The campaign also received the highest score for brand favorability and purchase intent. Additionally, 83 percent of viewers considered Google to be an empowering brand after watching the ad.

An ad from the Singapore government called, “Together, We Can” came in second, followed by Tourism Australia’s “With Love From Aus” in third.

In the US, the most emotionally engaging coronavirus ads include Google’s “Thank You Healthcare Workers” spot, which ranked seven and was 91 percent more emotional than the average US ad. Other strong performers in the US include Oreo, whose “Stay Playful” ad was 70 percent more emotional than the average US ad and Budweiser’s “One Team” campaign, which was 54 percent more emotional than the average US ad. Nike’s “You Can’t Stop Us” ad and Walmart’s “Heroes” ads ranked 18 and 19, respectively. 

Three UK ads made the top ten list, including ITV’s “Apart. But Never Alone” spot, which was 101 percent more emotional than the average UK ad, NHS’s “Stay At Home” ad and Jack Daniels’ “With Love, Jack” ad.

Viewers resonated most with ads that focused on supporting or thanking communities and people affected by COVID, says Alex Maguire, senior insight manager at Unruly.

“Meanwhile, ads that instruct viewers in the ways that they can still interact with the brand and their products during the pandemic tended to not only be less emotionally engaging, but also attracted lower scores for more rational metrics, such as purchase intent and intent to find out more,” says Maguire.

Unruly’s findings come as Ace Metrix released a report on the top-performing ads in Q2, broken down by the most empowering ads and the most “Prodtastic” ads. Ace Metrix’s research reveals that the most effective ads during Q2 focused either on purpose or product.

Frito Lay’s COVID-themed “It’s About People” spot received the highest score for empowering, indicating the ad’s message inspired, encouraged or motivated viewers. 

The second most empowering ad in Q2 was Mercedes-Benz’s coronavirus-related “Be The Best” ad, which resulted in 77 percent of viewers reporting a positive change in brand perception (Ace Metrix notes that the COVID ad norm is 60 percent).

Ace Metrix’s Prodtastic category measured a viewer’s emotional response to an ad primarily driven by a product rather than storytelling. Tide’s 15-second, non-coronavirus-related “Get It Clean” spot topped the Prodtastic list, earning an Ace Score 18 percent above the norm. Additionally, 66 percent of viewers reported they were much more or more likely to buy the new product Tide features in the ad.

Media Buyers Don’t Expect Ad Spend To Rebound This Year

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At the beginning of the pandemic, nearly half of advertisers pumped the brakes on or pulled a campaign mid-flight. During that same time, about half also reported plans to not reduce ad spending but instead shift budget among media types. These findings emerged from Advertiser Perceptions’ wave one coronavirus survey, fielded from March 17 to March 20.

In early May, media buyers expressed optimism about Q3, with just one in three respondents expecting ad spend to be affected in Q3. 

However, Advertiser Perceptions’ wave-five survey, fielded from May 18 to 21, suggests that ad spend won’t rebound this year. In fact, 43 percent of media buyers expect there to still be a “major impact” on ad spending in Q3, eMarketer reports. The sentiment is in line with responses to Advertisers Perceptions’ wave two and three surveys, fielded in March and April.

By the time Advertiser Perceptions conducted its fifth survey, just 13 percent of US media buyers confirmed ad spending had already begun to ramp up. An additional three percent expected the same to occur by the end of the month.

On the other hand, 79 percent of respondents said they anticipated ad spending to start picking up by the end of Q3, 51 percent of which expected it to happen during Q3.

Advertiser Perceptions also found that most media buyers expected moderate or major impacts to continue through the end of 2020, while one-third expected at least moderate ramifications to continue into 2021.

Now, 43 percent of respondents expect a major impact on ad spend to push into Q3, up from 31 percent in wave four, which was fielded from May 1 to 5.

eMarketer advises the digital ad industry should prepare for a slow return to a new normal. Digital ad investments will plunge in Q2 and year-over-year spending increases won’t return to pre-pandemic figures until at least 2021, the researcher notes.

LinkedIn Rolls Out Follower Analytics For Pages

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This week in social media news, LinkedIn rolls out a new follower analytics tool for pages and an audio name pronunciation feature, Twitch exceeds 5 billion hours watched in Q2, Instagram tests full-screen stories, Unilever, Verizon and Coca-Cola join the Facebook boycott, LinkedIn adds new features to help members give and get support and Instagram tests a voice feature for its Threads app and more.

LinkedIn Rolls Out Follow Analytics For Company Pages And Audio Pronunciation Tool

LinkedIn is adding a new follower analytics tool for company pages, a new audio feature for name pronunciation on user profiles and a process for limiting company page invites, as spotted by social media expert Matt Navarra.

Why it matters: LinkedIn’s new follower analytics will provide additional insight about users who are visiting your page, which would help inform the content of your posts.

The new process for limiting company page invites could be LinkedIn’s way of preventing managers from spamming their connections.

The details: Under the Analytics tab, page managers can see a full list of every person that’s followed their page and the month they started following them.

Linked also introduced a new system to limit the amount of times a company page manager can send invitations to their connections to follow their company page. Now, pages are granted 100 credits per month, with each sent invite costing one credit, which is returned when the invite is accepted.

Lastly, LinkedIn is giving users the option of adding an audio recording of up to 10 seconds of their name using an in-app audio recorder to ensure correct pronunciation.

Twitch Exceeds 5 Billion Hours Watched In Q2

Hours watched on Twitch ballooned 62.7 percent to surpass 5 billion hours, an 83.1 percent increase year-over-year, according to a new report from Streamlabs and Stream Hatchet. In addition, Twitch broke records for hours streamed and average concurrent viewership (CCV).

Why it matters: The milestone comes after Twitch exceeded 3 billion hours watched for the first time in Q1.

The details: Twitch also broke its record for the number of hours streamed, which increased 58.7 percent from Q1, an increase of 80.1 percent year-over-year. Also reaching an all-time high is Twitch’s average CCV, which grew by 63.4 percent since Q1. Twitch’s unique channels also saw an increase of 63.9 percent since Q1, a 78.6 percent increase year-over-year. Leading the live streaming industry, Twitch now represents 67.6 percent of the market share, up 2.6 percent from Q1.

YouTube Gaming Live saw a 39.6 percent increase in hours watched and a 19.1 percent increase in hours streamed compared to Q1. At a 15.5 percent increase from Q1, its CCV is at an all-time high. The platform now represents 20 percent of the market share, down two percent from last quarter.

Facebook Gaming is also gaining momentum, as hours watched grew by 48.5 percent, hours streamed by 22.6 percent and CCV by 48.6 percent, a 320.7 percent increase year-over-year.

Mixer reached 106 million hours watched in Q2, up 30.6 percent compared to Q1. Its hours streamed increased by 28.5 percent, or 36.3 million hours, albeit lower than its peak in Q1 2019. Its CCV grew by 34 percent.

LinkedIn Report Shows How The Pandemic Has Impacted Marketers

Sixty-seven percent of marketers said they’re increasing investment in webinars and 56 percent are putting more time into organic social as a result of the pandemic, according to a LinkedIn survey conducted with Vision Critical that surveyed 450 marketers in the first week of May.

Why it matters: The findings put into perspective how marketers’ playbooks are changing as they still try to navigate the uncharted territory that is coronavirus.

The details: The top three challenges marketers are facing during the pandemic include being forced to shift marketing priorities (76 percent), budget cuts (74 percent) and advertising investments and planning (69 percent). Marketers say their top reasons for decreasing spend are budget cuts (72 percent), it’s the wrong time to advertise (30 percent) and leadership doesn’t want to invest in ads right now (24 percent).

Sixty-seven percent say their campaign strategies were somewhat impacted while 18 percent say they were majorly impacted. Forty percent of marketers moved events to virtual while 38 percent paused or canceled them altogether.

The area which marketers have decreased spending the most is events/experiential (80 percent), followed by out-of-home (39 percent) and television (33 percent).

Forty-three percent of marketers say they’ve shifted their target audience to those whose needs changed because of COVID-19, whereas 39 percent have not shifted audience targeting.

Nearly half (47 percent) say their content has become more emotional in nature and 31 percent, more rational in nature. Marketers have added focus to social content, thought leadership and direct customer outreach.

Instagram Tests Full-Screen Stories Experience

Instagram is testing a feature that will allow users to see more stories at the same time, on the home screen and in a new experience that expands stories to full screen, the platform confirmed to TechCrunch.

Why it matters: As of last year, 500 million people, or about half of Instagram’s users, were interacting with stories on a daily basis.

The details: As explained by TechCrunch, in the test, Instagram users will see two rows of stories, instead of one, at the top of their feed. Beneath this expanded stories area, users will be able to click a button “See All Stories,” which will cause a new screen to appear where users can see and scroll through all stories in a full-screen format.

Unilever, Verizon, Coca-Cola Stop Facebook Advertising As Part Of #StopHateforProfit Boycott

Coca-Cola, Unilever and Verizon mark the latest batch of brands to announce they’re stopping all advertising on Facebook in solidarity with a civil rights groups-led boycott meant to curb hate speech and fake news on Facebook called #StopHateforProfit.

Why it matters: According to president and CEO of Analytics Partners, Nancy Smith, that the current spending freezes are occurring near the end of Q2 could imply brands are gearing up to spend on other avenues, such as revamping store concepts suited for warding off coronavirus. Still, at a time when consumers want brands to lead social change, the boycott could represent a win-win for marketers, who, if they had a desire to boycott Facebook previously, either didn’t have the catalyst or other brands on board, says Jesisca Liu, a senior analyst at Forrester Research.

The details: In 2019, Unilever spent $42.2 million on Facebook advertising and Verizon, $22.9 million. After Unilever’s announcement, Facebook shares dropped eight percent, erasing nearly $50 billion from its market valuation. Shortly after, Facebook announced it would undergo an external audit with the Media Rating Council to examine its policies around hate speech.

LinkedIn Adds New Features To Help Users Find Jobs 

LinkedIn is rolling out new features to help users more easily find jobs for themselves and others on the platform as well as new post reactions.

Why it matters: The updates are likely in response to the 60 percent surge in content creation year-over-year that LinkedIn observed during lockdowns, a time when users flocked to the platform to share updates about layoffs and offer their services for free to members in need.

The details: LinkedIn already has a feature that lets users privately signal recruiters they’re open to work. Now it’s taking the feature a step further with “Open-To Work,” a feature that adds a photo frame with a green label that reads #OpenToWork to users’ profile pictures.

LinkedIn’s second update, meant to help members lend a hand to their connections, includes an “Offer to Help” option that appears when you start a new post. From there, users can select all the ways they wish to help others, including general help, career coaching, referrals and resume reviews. Users can decide who sees this post.

Lastly, LinkedIn added six new emoji reactions for users to show support for articles and posts.

Instagram Tests Voice Note Feature On Its Thread App

Instagram is testing a feature called Voice Note that would turn the audio of a video into live captions that would appear as the recording plays, as spotted by app developer Alessandro Paluzzi.

Why it matters: The news comes as Twitter recently started rolling out audio tweets for iOS, letting users record up to 140 seconds of audio.

The details: Instagram launched the Threads app in October 2019 as a more intimate version of its app for those who want to share location, status and multimedia with close friends.

Social Media Stocks Continue Falling In The Premarket

Social media stocks continue declining in the premarket following the loss of revenue from advertisers and a call on brands from a coalition of civil rights groups to halt advertising on Facebook.

Why it matters: A reduction in ad investment due to the pandemic has been exacerbated by a boycott that’s gone viral, called #StopHateforProfit. So far, 160 companies announced they would pull ad spend from Facebook in July over the platform’s refusal to remove President Trump’s insensitive messages about Black Lives Matter protests. In an attempt to ease brands’ concerns, Facebook announced new policies to label hate speech and remove certain ads.

The details: Facebook stock is down 3.1 percent, with shares plummeting 8.3 percent on Friday after Unilever pledged its solidarity with #StopHateforProfit.

Twitter and Pinterest, though unaffected by the boycott, are also down 2.4 percent and 0.8 percent, respectively.

Instagram Enables Advertisers To Create Ads Without Facebook Page Connection

Advertisers in the US and Turkey who are promoting their Instagram posts for the first time can now create Instagram ads without having a presence on Facebook, as reported by Adweek.

Why it matters: As AdWeek notes, some believe the update is Facebook’s way of protecting ad revenue on Instagram from plummeting in the aftermath of the #StopHateforProfit campaign, which has resulted in over 100 brands pulling their Facebook ad spend, including Starbucks, REI and Unilever.  

The details: Most brands have already connected their Instagram profile to Facebook Ad Manager, therefore the update won’t allow them to disconnect their Instagram profile from their Facebook page. For new advertisers in the US and Turkey, advertising separately from Facebook means they’ll have to track performance directly on Instagram.

Pinterest Launches Independent Review Of Workplace Culture

Pinterest’s board of directors convened a new special committee of directors, led by WilmerHale, to conduct an independent internal review of the company’s workplace culture to identify opportunities to improve inclusivity and equity.

Why it matters: The announcement follows a letter Pinterest co-founder and CEO Ben Silbermann sent to Pinterest employees, which details the company’s progress toward addressing racism. Silbermann says Pinterest has strengthened its diverse slate requirement for recruiting, set clear goals to increase the representation of content they display on Pinterest and revamped its unconscious bias and leading inclusive teams training.  

The details: As per Pinterest:

“The WilmerHale review will include an in-depth assessment of Pinterest’s policies and practices concerning discrimination, harassment, and other workplace issues. WilmerHale will also review and assess the way Pinterest evaluates, promotes, and compensates employees and how the company responds to and investigates complaints of discrimination, harassment, and retaliation.”

Danielle Conley, co-chair of WilmerHale’s anti-discrimination practice and a former associate deputy attorney general at the US department of justice, will lead the team.

LinkedIn Content Creation Is Up 60 Percent Year-Over-Year

LinkedIn is seeing a surge in content creation, consumption and engagement, the company’s director of brand and consumer marketing, Srividya Gopani, told Social Samosa in an interview.

Why it matters: Gopani’s insight follows a report LinkedIn published that highlights which topics are trending amid the pandemic. The findings show there have been the highest spikes in engagement on articles mentioning business continuity (up 144 percent), cloud services (up 78 percent), video streaming (up 71 percent), cybersecurity (up 66 percent), remote working (up 52 percent), virtual reality (up 50 percent) and software (up 46 percent).

The details: Lockdowns have inspired users to focus on their professional lives and help others find jobs and internships, resulting in a 55 percent year-over-year increase in conversations among users globally compared to March 2019, Gopani notes. Additionally, content creation on the platform is up 60 percent year-over-year.

Google Expands Business Messages To Support All Businesses

Google is enabling all brands to integrate its business messages directly with their customer service platforms, providing a quick way for customers to reach them via Google listings.

Why it matters: First launched in 2017, Google’s business messaging has until now been limited to certain businesses and regions.

The details: In addition to expanding direct messaging, Google is adding smart replies and customizable welcome messages to allow customers to get answers directly from a business.  

Google’s messaging solutions are available in English for now, with more language coming shortly.

Netflix Names Bozoma Saint John Chief Marketing Officer

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This week in leadership updates, Microsoft Latin America hires Mariana Castro as VP of sales, marketing and operations, United Natural Foods brings on Amanda Helming as its CMO, Netflix hires Bozoma Saint John as CMO, Realtor.com names Mickey Neuberger CMO and LegalShield hires its first-ever CMO, Cameron Scott.

Microsoft Hires Mariana Castro As Vice President of Sales, Marketing and Operations For Latin America

Mariana Castro is joining Microsoft Latin America as VP of sales, marketing and operations after current CMO Paula Bellizia stepped down.

Castro will be responsible for driving Microsoft’s digital transformation and artificial intelligence adoption across the region. She has been with Microsoft for over 20 years.

United Natural Foods Inc. Names Amanda Helming As New Chief Marketing Officer

United Natural Foods Inc. (UNFI) has hired Amanda Helming as its new CMO, effective July 13. Reporting to UNFI president Chris Testa, Helming will oversee the company’s Brands+ product portfolio, branding and creative and communications teams.

Helming comes from UNO restaurant Holdings, where she served as CMO. Prior to that, Helming spent seven years at Dunkin Brands, most recently as VP of brand strategy, global consumer insights and pricing for Dunkin’ US.

Netflix Appoints Bozoma Saint John As Chief Marketing Officer

Netflix is bringing on Bozoma Saint John as its new CMO after the company’s current CMO, Jackie Lee-Joe, stepped down for personal reasons.

Saint John comes from Endeavor, where she served as CMO since 2018. Prior to Endeavor, Saint John worked as chief brand officer for Uber and before that, head of global consumer marketing for Apple Music and iTunes.

Realtor.com Announces New CMO

Realtor.com announced in a press release today that Mickey Neuberger will be joining its senior leadership team as chief marketing officer.

Neuberger previously served in marketing roles at 24 Hour Fitness, Loyalty Lab, and Travelocity. He most recently held the position of VP of global marketing at eBay.

LegalShield Hires Cameron Scott As First Chief Marketing Officer

LegalShield named its first-ever CMO, Cameron Scott. In his new role, effective today, Scott will lead the company’s global marketing strategy and execution.

Prior to LegalShield, Scott was chief brand officer at GoDaddy. He has also held a variety of senior marketing and strategy roles at Microsoft, Yahoo and AT&T.

What We’re Reading-Week Of June 29th

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

‘It’s Been A Wake-Up Call’ – Walgreens CMO On Flexing Its Digital Muscle Post-COVID-19

The Drum

As social distancing orders went into effect, Walgreen’s retail sales sank nearly 11 percent on the previous year, leading to a huge increase in its e-commerce business.

Why it matters: Patrick McLean, senior vice president and chief marketing officer at Walgreens, says the brand quickly turned pilots around curbside pick-up, online ordering and free delivery into a national rollout. Post-pandemic, McLean promises a lot of aggressive investments in online shopping and omni-channel experiences. Recently the brand appointed Adobe and Microsoft to create personalized experiences for the 100 million members in its US and UK loyalty programs.

Goodr Boosts Conversions 32% With AR Try-On For Sunglasses

Mobile Marketer

Goodr’s conversion rates grew by 32 percent among mobile shoppers after it launched an augmented reality experience that lets people virtually try on its sunglasses for runners.

Why it matters: Goodr’s AR experience helped increase consumer satisfaction at a time when shoppers aren’t able to visit stores during coronavirus,

COVID-19 And The Employee Experience: How Leaders Can Seize The Moment

McKinsey & Company

In a survey of over 800 US-based employees, McKinsey found that teleworking positively affected employees’ daily work, made them more engaged and created a stronger sense of well-being than those in non-remote jobs.

Why it matters: As some parts of the country reopen, the return phase of COVID presents an opportunity for employers to rethink the worker experience in ways that respect individual differences such as skills, home lives and personal attributes.

4 Traits That Keep Women From The C-Suite

Harvard Business Review

Of the 100 global CEOs on Harvard Business Review’s 2019 Top CEOs list, only four were women while HBR China’s list included a total of just five female CEOs.

Why it matters: During her experience researching China’s leading CEOs, K.C. Wong chair professor at Peking University’s National School of Development, Chen Chunhua, has observed that the traits that often hold female leaders back include having more non-work-related life goals than men do, the desire to achieve perfectionism, an unwillingness to face conflict and having to bear a heavier load of domestic and emotional labor.

Social Influencers x Social Distancing: How Was Influencer Marketing Changed?

The Drum

The Drum’s latest installment of its “Consumer Insight” series found that the influencer market provides brands with an opportunity in the current climate as people spend more time on social platforms.

Why it matters: Influencers can produce crowd-sourced insights and feedback via comments and interactions, a helpful tool to understand consumer sentiment in the pandemic quickly and honestly.

Men’s Makeup Goes Mainstream With CVS Rollout

Business Of Fashion

CVS is betting big on men’s makeup as it plans to roll out men’s cosmetics brand Stryx to 2,000 stores. 

Why it matters: In April, search queries for “male makeup looks” surged nearly 80 percent year-over-year. Men’s grooming in the US has evolved out of a two-product routine of only shaving cream and after-shave to embracing fashion and skincare; the market has grown about 13 percent over the past five years.

How Event Marketers Are Adapting To The ‘New Normal’

Event Marketer

Experience marketers of events postponed until the fall have either taken a “wait and see” approach or a multi-channel approach that includes digital and the redeployment of event teams to other areas like research and training.

Why it matters: For many companies, the only way to come out on the other side of the pandemic is to wipe the slate clean given business goals will be so different this year. 

What Black Employee Resource Groups Need Right Now

Harvard Business Review

Principal and founder of RARE Coaching & Consulting Aiko Bethea says organizations should start compensating leaders of black employee resource groups (ERGs), which are currently largely volunteer led, invest in black employees’ success and provide racial trauma support.

Why it matters: Black ERGs have helped increase inclusivity and retainment at companies like AT&T, whose black ERG, The NETwork has over 11,000 members. In 2015, AT&T reported an 85.6 percent retention rate for its black employees.

I Was A Chief Diversity Officer For 25 Years. Right Now, Being Silent Is Supporting Violence — Use Boldness To Fight Racism In The Workplace Instead

Business Insider

Jackie Glenn, former chief diversity officer for Dell EMC and founder of Glenn Diversity and HR Solutions, recommends workers boldly call out micro-aggressions and bias as they see them occur.

Why it matters: As per Glenn: “If you have turned a blind eye, ignored the cries for justice, and kept on with your normal life, you are part of the problem. Let me be clear — silence is supporting the violence.”

CMO Role And Search Demystified With Korn Ferry’s Zach Peikon

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During this 214th episode of “Marketing Today,” I interview Zach Peikon, who specializes in senior-level executive search for chief marketing officers, chief growth officers, and other sales and digital leaders at Korn Ferry.

Today, we talk about demystifying the executive search function, the types of characteristics they’re looking for in the next generation of CMOs, and the differences required to make the transition from chief marketing officer to GM or CEO.

Peikon shares how he became involved in the world of executive search; then, he provides insights into what CMOs are most concerned about right now and discusses the volatile position CMOs have in the C-Suite. Peikon says, “Digital transformation was critical before and is of even more importance now.” We talk about the characteristics of a best-in-class CMO. He says, “Best-in-class CMOs understand how to manage ambiguity, engage and inspire others, develop a strategic vision, and drive results. They’re adaptable, confident, and curious. And they’re resilient in the face of obstacles and they can work collaboratively across an organization.” Peikon demystifies the executive search process, and we learn how CMOs can position themselves for GM and CEO roles. This discussion offers a valuable perspective on how to differentiate yourself as a marketing leader. 

Highlights from this week’s “Marketing Today”:

  • Zach’s path to executive search. 01:33
  • How CMOs perceive the challenges and opportunities ahead. 04:22
  • How the CMO role is evolving in light of COVID. 06:54
  • Defining a best-in-class CMO. 09:24
  • What CEOs today want from their CMOs. 11:59
  • Demystifying the executive search process. 15:06
  • Zach’s advice for marketers wanting to move into GM and CEO roles. 17:45
  • Zach’s thoughts on bringing representatives from marketing into the board room. 20:36
  • Is there an experience in his past that defines who he is today? 22:58
  • What is the advice Zach would give to his younger self? 25:31
  • The most impactful purchase he has made in the last 6-12 months of $100 or less. 27:16
  • Are there any brands, companies, or causes that Zach follows that he thinks other people should take notice of? 28:25
  • Zach’s take on the top opportunity and threat facing marketers today. 30:24

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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.