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

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

Resources Mentioned:

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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.

Listen In: The Future Of Work With Charlie Fink

We’re back with another episode of a.network’s weekly series Listen In, created by Ayzenberg principal and ECD Matt Bretz. This week we’re featuring a conversation between James Wiley, social media strategist at space.camp, and XR consultant, author & columnist Charlie Fink on the future of work.



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.

Burger King Names Ellie Doty As CMO For North America

This week in leadership updates, Ellie Doty joins Burger King as CMO for North America, McDonald’s UK chief marketing officer Gareth Helm departs, Forbes promotes Sade Muhammad to the newly created role of director of representation and inclusion partnerships and more.


Burger King Names Ellie Doty As CMO For North America

Ad Age reports that Ellie Doty has been tapped as Burger King’s new chief marketing officer for North America, a role that has been unoccupied in recent years. 

Doty will take on duties associated with the departure of Burger King’s VP and head of brand and communications for North America, Marcelo Páscoa, who left last month to serve as VP of brand marketing for the Coors Family of Brands.


McDonald’s UK Chief Marketing Officer Gareth Helm Resigns

McDonald’s UK CMO Gareth Helm is stepping down after joining the company in May 2019.

Helm’s departure has prompted a restructuring of the company’s marketing team, leading to UK and Ireland vice president of food, beverage, product development and marketing, Michelle Graham-Clare, taking over Helm’s role while retaining her current position.


Forbes Names Sade Muhammad As Director Of Representation And Inclusion Partnerships

Forbes has promoted Sade Muhammad to the newly created role of director of representation and inclusion partnerships, following the company’s establishment of a three-prong representation and inclusion initiative in January. In her new role, Muhammad will work with marketers and brands on campaigns to drive system change.

Muhammad joined Forbes’ content marketing platform team, BrandVoice, in 2016.


Margaret Jobling Steps Down As Centrica Chief Marketing Officer

Group CMO at Centrica, Margaret Jobling, is leaving the company, according to Campaign. The move comes after Centrica announced that it would be cutting 5,000 jobs, including half of its 40-person senior leadership team.

Jobling joined Centrica in 2014 as brand and marketing director at British Gas before being promoted to CMO in 2018.


Fiona Carter Named As First-Ever Goldman Sachs CMO

Axios reports that former AT&T chief brand officer Fiona Carter has been hired by Goldman Sachs to fill the newly created position of chief marketing officer.

Carter’s most recent marketing position as AT&T chief brand officer found her responsible for one of the largest advertising budgets in the U.S. Carter also served as COO for Omnicom, prior to her five years at AT&T. She is scheduled to begin her new position on September 1.


Smith & Wesson Hires Kyle Tengwall As Vice President Of Marketing

Smith & Wesson has named Kyle Tengwall as VP of marketing to lead the brand’s efforts to grow and increase consumer loyalty.

Tengwall joins from United Tactical Systems, where he served as chief marketing officer and divisional general manager for PepperBall.

Lessons From Diageo On Achieving Gender Equality In Advertising

Women account for 70-80 percent of all purchasing decisions, yet they’re often absent, objectified or portrayed in a regressive way in advertising. Diageo’s global head of consumer planning, Andrew Geoghegan, and global brand director of Guinness, Grainne Wafer, examined this truth in a LIONS Live panel, as part of this year’s Cannes Lions, about Diageo’s endeavors to achieve gender equality in advertising. Here are the lessons they’ve learned along the way.

Diageo found that signals of cultural change come from the top. To normalize greater gender balance, Diageo hired more women, transforming its once nearly all-male executive committee into one made up of 40 percent women. The change also led to senior female leaders representing 50 percent of the company’s global marketing team.

Creating an inclusive organization also meant implementing policies that mirrored Diageo’s mission. In 2019, Diageo equalized family leave across its global offices, allowing men and women six months of fully paid leave, and up to a year off work. The policy applies regardless of gender, sexuality and the method by which an employee became a parent.

Ads can either constrain or inspire how consumers see themselves. That’s why Diageo conducted an analysis of how women are portrayed in popular culture around the world. The findings provided the basis for Diageo’s “Progressive Gender Portrayal Framework,” an actionable framework it developed to be applicable across all its brands, in different stages of communication developments and in various cultural markets. Diageo distributed the framework to 1,200 marketeers and agencies via training modules to help them identify their own biases.

The framework consists of four guidelines: representation, how ads represent different types of women that consumers can relate to; perspective, or who’s framing the story; agency, addressing women respectfully; and characterization, ensuring women have the same depth and complexity as men who are featured in creative.

Diageo says it was also important to remain honest about any creative they’ve developed that didn’t meet the mark on gender equality. For example, its Bailey’s brand realized that a former brand proposition about making women shine resulted in stereotypical portrayals of women. Bailey’s shifted this messaging to one around adult treats, thereby improving the brand’s health.

To ensure creative meets your standards for gender equality, the duo recommends measuring consumer perception of ads. For example, Diageo’s Guinness brand ran a spot highlighting a Japanese rugby team of females that made it to the 1991 Women’s Rugby World Cup despite social disapproval. A survey after the fact showed that 81 percent of people agreed the ad portrayed women as positive role models.

To encourage gender equality in creative, in 2019, Diageo partnered with Creative Equals to help women return to the industry following a career break of a year or more. The Creative Equals Returner scheme, #CreativeComeback, saw 58 women complete the course and a majority return to creative industries afterward.

Diageo’s commitment to closing the gap in creative leadership stems from efforts made by the company’s outgoing chief marketing officer, Syl Saller. In 2018, Saller sent a letter to agencies calling on them to disclose the percentage of women on their leadership teams and how they plan to address any gender imbalances. Saller will retire this summer after 20 years at Diageo.

Marc Pritchard On P&G’s Response To COVID-19 And Systemic Racism

When the pandemic hit, the ad industry suddenly became paralyzed. Then, just as brands started to find their footing again, Black Lives Matter protests broke out, exposing the deep cracks of systemic racism in everyday American life. Brands responded with statements, donations, a blackout and a Facebook boycott. Consumers demanded action. All the while, Procter & Gamble (P&G) kept a low profile for what the company’s chief brand officer Marc Pritchard says was an intentional display of action, not headlines.

During his Cannes Lions presentation on LIONS Live, Pritchard explained P&G’s behind-the-scenes response to COVID-19, the anti-racism protests and gender inequalities exacerbated by the pandemic. In addition, he shares the racial equality roadmaps P&G brands will follow as an example of how brands can use creativity to lead change.

P&G’s pandemic game plan began with a review of every communication through the lens of being useful. In addition to creating how-to content such as cutting hair at home and skincare after wearing a mask all day, P&G donated products, money and personal protective equipment to families in need through over 200 relief organizations worldwide.

In response to a request from Ohio governor, Mike DeWine, to help encourage young people to social distance, P&G enlisted TikTok mega-influencer Charli D’Amelio, who has 65.9 million followers, to create the #DistanceDance challenge. P&G pledged to donate products to families in need for the first 3 million videos that remixed the challenge. The challenge went viral: 3.4 million users created their own version of the dance and D’Amelio’s video has been viewed 16.9 billion times since. P&G, however, didn’t make its involvement explicit.

P&G also launched programs and campaigns aimed at supporting hard-hit communities such as women and BIPOC (Black & Indigenous People Of Color). One such initiative included the re-release of a film P&G first launched in 2019 called “The Look,” designed to highlight the racial bias black men face every day.

Having never dealt with inequality issues in race, healthcare and gender, many brands are willing to initiate change but don’t know where to start. Pritchard recommends taking the time to learn about the history of racism and having difficult conversations to induce understanding, empathy and action.

To continue its anti-racism efforts, P&G has set a goal of achieving 40 percent multicultural representation within P&G North America. It also plans to increase investment in black-owned or operated media companies, agencies and marketing suppliers. A comprehensive review to ensure P&G advertising “accurately and respectfully portrays black people and all people” is also underway. Lastly, P&G is ensuring that it’s not advertising on or near discriminatory content.

Battling Bot Fraud With White Ops CMO Dan Lowden

During this 213th episode of “Marketing Today,” I interview Dan Lowden, the Chief Marketing Officer at White Ops.

On the show today, we talk about marketing and cybersecurity. We get into fraud and fraud detection, including two significant cases where White Ops was one of the leaders in identifying fraud. You’re going to learn a lot about fraud and why marketers should care about it.

Lowden explains some of the complex problems White Ops addresses that marketers need to be thinking about today. He says, “The goal here is to ensure brands from a marketing integrity perspective, from an advertising integrity perspective, are engaging with real humans.” We talk about the types of threats White Ops sees right now and how this bad data can affect marketing teams. Lowden says, “Every company in the world right now is being attacked.” He encourages us to stand up to these threats. Then he tells two stories about how WhiteOps helped to identify fraud. He emphasizes, “We don’t underestimate how smart these bad actors are.” Throughout this episode, Lowden makes a case for why stopping fraud is a massive opportunity for marketers.

Highlights from this week’s “Marketing Today”:

  • Dan’s path from being a chef to becoming a marketing CMO. 01:33
  • What led Dan into the cybersecurity space. 03:15
  • The sophisticated problems White Ops addresses. 04:51
  • The growing demand for fraud prevention. 06:43
  • Using a tag on your sites to track bots. 14:35
  • The story of a group of bad actors WhiteOps helped detect. 16:06
  • The economics of cybercrime. 20:04
  • The Ice Bucket CTV fraud. 20:57
  • Recent investments in White Ops. 25:58
  • Marketing White Ops. 27:56
  • Is there an experience in his past that defines who he is today? 30:40
  • What is the advice Dan would give to his younger self? 32:34
  • The most impactful purchase he has made in the last 6-12 months of $100 or less. 34:40
  • Are there any brands, companies, or causes that Dan follows that he thinks other people should take notice of? 35:41
  • Dan’s take on the top opportunity and threat facing marketers today. 37:59

Resources Mentioned:


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Listen in iTunes (link: http://apple.co/2dbdAhV)
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Listen in Spotify (Link: http://spoti.fi/2mCUGnC)

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.

Cannes Lions, WARC Study Establishes Creative Effectiveness Ladder

Over the last decade, creatively awarded campaigns have become no more effective than non-awarded campaigns, according to a global study from Cannes Lions and WARC that analyzed 5,000 effectiveness case studies from 2011-2019.

The study attributes this collapse in effectiveness to brands decreasing their creative commitment to campaigns in order to more quickly maximize return on investment (ROI). To help marketers reverse this decline and create a universal definition of effectiveness, marketing effectiveness experts James Hurman and Peter Field developed a new framework called the Creative Effectiveness Ladder. As part of this year’s Lions Live panels from Cannes Lions, the two discuss the ladder’s six levels, whether effectiveness comes down to budget and why increasing creative commitment will be critical to improving the value and reputation of marketers.

The Creative Effectiveness Ladder comprises six levels, or the various effects that creative marketing produces, ranging from the least to the most commercially impactful. At the lowest level is “Influential Idea,” campaigns that use creativity to maximize engagement and sharing, resulting in over-achieving on campaign metrics and media efficiency.

Next is “Behavior Breakthrough,” campaigns that use creativity to change the purchase behavior of customers or change other forms of behavior relevant to the success of the brand.

“Sales Spike,” the third level, includes campaigns that use creativity to create short-term temporary sales growth, market share or profitability.

Fourth on the ladder, “Brand Buildup,” includes campaigns that use creativity to improve the fundamental measures of brand health like awareness, purchase intent, consideration and preference.

Fifth is “Commercial Triumph,” or campaigns that use creativity to increase sales and market share beyond a single quarter or beyond the duration of a campaign.

The researchers named the highest level of effectiveness as “Enduring Icon” to describe campaigns that use creativity to drive brand and sales growth consistently over a long period, three years or more. These are brands that use the same creative strategy or creative work over a period of time.

The study also found that there are three campaign variables which align consistently with effectiveness: media spend, campaign duration and number of media channels used. As any of these variables increases, campaigns become more likely to achieve upper levels of effectiveness, indicating there’s a strong correlation between creative commitment and effectiveness.

To understand if a campaign’s effectiveness comes down to spend, the researchers separated campaigns by budget level. They found that at any budget level, effectiveness increased as the other two variables, campaign duration and number of media channels used, increased.

“The reason they all contribute to effectiveness is because they’re all related to the mental availability that the campaign creates, the extent which the brand comes readily to mind in purchase situations,” notes Field.

Hurman and Field suggest that the solution to achieving long-term growth is increasing the creative commitment of campaigns, for creativity is the single most important driver of effectiveness.

Listen In: Marie Elena Rigo On The Origins Of Insight

We’re back with another episode of a.network’s new weekly series Listen In, hosted by Ayzenberg principal and ECD Matt Bretz. This week we’re featuring a conversation with MER Leadership Design founder and executive coach, Marie Elena Rigo, who discusses the key tools necessary to produce insight for ourselves and for our work.



About Listen In: Each week on Listen In, Bretz and a rotating cast of hosts from Ayzenberg will 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.

I&CO’s Rei Inamoto On What Adland Can Learn From Restaurants Amid The Pandemic

In response to the pandemic, restaurants shuttered and delivery and takeout orders skyrocketed. Some restaurants pivoted digital and were able to persevere while others shut down for good. Technomic estimates that the global restaurant business will lose nearly $600 billion in consumer spending in 2020 due to the pandemic.

In a panel on Cannes Lions’ digital platform Lions Live, founding partner of I&CO Rei Inamoto looks to the playbook by which his friend and chef, Yoshihiro Narisawa, pivoted to keep open his two-Michelin star restaurant Les Créations de Narisawa in Tokyo, Japan. In drawing parallels between the restaurant industry and the advertising industry, Inamoto established four imperatives for growth the marketing industry can implement to create new opportunities in the new normal.

In January, as restaurants in Japan closed amid the crisis, Narisawa, where plates start at $400, immediately lost its customers and utility as demand for luxury items and experiences plummeted. Five months later and Narisawa has been able to stay afloat. According to Inamoto, that’s because Narisawa’s team turned on their functional speed, stuck to their point of view and found a sound business case in order to create a practical future for the restaurant.

Inamoto attributes part of Narisawa’s success to his first imperative—shifting from organizational scale to functional speed. Because the in-person dining experience upholds Narisawa’s business model, Narisawa and his team truncated their complex menu to feature just two bento boxes available for delivery. As per Inamoto, “The notion that you have to be small to have the function of speed is completely false.”

Inamoto’s second imperative for growth is sticking to your point of view. In Narisawa’s case, this meant maintaining the restaurant’s premium brand image—using high-quality, sustainable ingredients that are cooked naturally—by only slightly lowering the price of the newly launched bento boxes, to $150 each.

Next, Inamoto advises brands to seek out a sound business case rather than a case study. For example, to stay top-of-mind for his existing customers, Narisawa launched a limited time bento box with Dom Pérignon, priced at $1,000 each. After calculations, the team decided the move was a sound business case rather than just a marketing stunt.

Lastly, Inamoto cautions brands against operating on wishful thinking, or that the pandemic will end soon and allow them to return to normal. Instead, businesses should identify unaddressed customer and cultural needs to create solutions that unlock new marketing opportunities. For Narisawa, that need sprang from the behavioral shift of more people cooking at home. To capitalize on the trend, Narisawa launched freshly packaged food items that could be stored and easily cooked at a later time, starting at $60 each.

Planning for the ideal or immediate future won’t make you competitive enough, says Inamoto. Instead, practical futures offer the sweet spot—close enough to be achievable but allowing just enough time to create new products and services with lasting and meaningful impact.

What We’re Reading-Week Of June 15th

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



The Modern Advertiser’s Blind Spot: How To Avoid Missing The Mark For Consumers

Ad Age

Sprout Social’s “Social Index” report revealed that 89 percent of consumers will buy from a brand they follow, perhaps suggesting that marketers are sidetracked by virtual content creation over practicality, namely equipping customers to make informed purchases. 

Why it matters: Founder and president of Ideas That Evoke, Kelly Ehlers, reminds brands to make their products the main attraction, not memes or free downloads. To align your market accordingly, Ehlers suggests evaluating the motive, mindset and strength of the platforms you’re using, refocusing your efforts on customer service through proactively solving problems and showing gratitude for continued loyalty and posting relevant information that keeps the purchase cycle top-of-mind.


Ranking How National Economies Adapt To Remote Work

MIT Sloan Management Review

MIT recently analyzed the economic impact of remote work in 30 countries and found that national economies like Spain, Ireland and the US—where 10 percent of the labor force represents workers in high-proximity personal services and occupations, such as barbers, dentists and flight attendants—will see a bigger impact from social distancing. However, internet quality, experience working from home and demographics outweigh developed economies’ more risk-prone occupational mixes.

Why it matters: MIT’s research notes that “developing countries have the advantage of fewer service-oriented jobs that require close proximity, but internet infrastructure gives developed economies a substantial advantage.” 


5 Things Every CMO Needs To Know About How AR And VR Are Changing Marketing

Forbes

Many marketers will soon need to determine how to integrate virtual reality (VR) and augmented reality (AR) into their marketing mix as these emerging technologies develop more rapidly.

Why it matters: VR and AR have the ability to add deeper context to the customer experience, be it in the form of virtually trying on clothes, converting static images to 3D images, engaging with virtual influencers, transforming company storefronts into virtual showrooms and testing employees in manufacturing on different parts of a virtual line without physically putting them at risk.


Female CMO Salaries Eclipsed Men’s In 2019, Study Finds

Marketing Dive

According to a new study from the CMO Council, in 2019, female marketing executives reported higher pay than men. On average, female executives’ salaries were about $213,000 and their bonuses $56,000, while their male counterparts earned an average of $210,000 and bonuses of $53,000. 

At companies with over 250 employees, marketer salaries of both men and women averaged $236,000; at companies with 50 to 249 employees, marketer salaries averaged $180,000; and for smaller companies with 10 to 49 employees, marketer salaries averaged $103,000.

Why it matters: The report supports recent research from Spencer Stuart, which found that the percentage of female CMOs at the 100 most advertised brands grew from 36 percent to 43 percent in 2018.


Unilever Takes Heat For Fair & Lovely In India As It Criticizes Racial Injustice Elsewhere

Ad Age

After contributing $1 million to racial justice initiatives through its various brands, Unilever is getting backlash from two dozen change.org petitions calling on the company to stop producing and marketing Fair & Lovely, a brand it sells in India that creates skin-lightening cream.

Why it matters: In 2019, Fair & Lovely made over $500 million in sales in India alone. In February, the government there proposed an amendment to existing advertising laws that would make ads promoting fair skin illegal.


Unemployment By Design: Building Resilience In A World Disrupted

Forbes

After his eleven-year run with Edelman came to an abrupt end due to COVID-19, David Armano has found that there are three interesting pathways to approach unemployment by design as a way to develop resilience: every day presents an opportunity to unlearn an old habit and master a new one, lean into the unknown and embrace change by updating your current role on LinkedIn and approach each day as an iteration to your strategy.

Why it matters: Unemployment in the US has risen higher during COVID than it did during two years of the great recession, with nearly 21 million people currently classified as unemployed.


The Pandemic Will Impact How And Why Consumers Exercise

Adweek

Fitness companies have found creative ways to engage their customers in lockdowns by offering online services and live streaming workouts on social media. However, as gyms reopen, experts predict the industry will continue to feel the effects of this digital disruption.

Why it matters: To meet their members where they are, fitness brands should focus on a hybrid of in-person and digital services while being cognizant of the fact that many consumers are even more dedicated to staying in shape than before the pandemic.


Creativity Awards Winners Revealed: Ad Age Digital Edition

Ad Age

Winners of the 2020 AdAge Creativity Awards include: HBO’s Game of Thrones #ForTheThrone campaign for best content marketing of the year; Microsoft/Xbox’s adaptive controller for tech innovation of the year and best work for good; Skittles’ “Broadway the Rainbow” and Wendy’s “Keeping Fortnite Fresh” for experiential campaigns of the year; and Popeyes’ tiny but mighty chicken sandwich wars tweet.

Why it matters: Popeyes’ chicken sandwich wars tweet helped the company double its Twitter following and receive 1.1 million mentions.


Good Leadership Hinges On “Organizational Intelligence”

Harvard Business Review

Organizational intelligence consists of five competencies: sending messages that reinforce strategy; fostering an understanding of “who we are,” using “action strategy” rather than consensus building to pursue strategic goals, rebelling from the top by recognizing what aspects of the status quo need to be challenged and staging moments of theater that will communicate and reinforce an ethos.

Why it matters: Leaders often fail because they don’t know how to get the company to do what they want, or they lack organizational intelligence (OQ).