We’re rounding up the most insightful articles for senior marketing leaders this week.
Forbes’ ninth annual round-up features chief marketing officers who are shaping business, culture and society. The publication’s pool of candidates was drawn from over 500 chief marketing officers and brands from across a wide range of Forbes lists and external lists such as the World Federation of Advertisers and the Brand Finance Global 500. Candidates that were considered had to be active and in their role from at least January through May 2021.
Why it matters: Forbes’ top five most influential chief marketing officers are: Bozoma Saint John of Netflix, Stephanie McMahon of WWE, and Dara Treseder of Peloton, Raja Rajamannar of MasterCard and Nick Tran of TikTok. Brands seeking to maximize profits and increase engagement can study the strategies deployed by 50 of the world’s greatest marketing professionals.
Despite it still being September, continued delay-causing supply chain problems have forced retailers to start holiday promotions earlier than ever. Target announced it’ll host its annual Deal Days event from October 10 to 12. Several other marketers including Sephora, Williams Sonoma and Pottery Barn have included holiday messaging in their email communications this month. Introducing holiday deals early marks brands’ way of being solvent and encouraging consumers to shop early before supply runs out.
Why it matters: Experts say that because Amazon has trained consumers to expect on-demand delivery, brands are doing everything in their power not to be the first to admit they’re struggling with shipment delays. Still, Pottery Barn’s West Elm brand recently told a customer: “Due to the COVID-19 pandemic, our global supply chain has been stretched to new levels, resulting in temporary delays.”
As part of its broader Positive Beauty strategy, Unilever launched a new program to partner with startups and scaleups (later-stage startups with proven growth) that specialize in live streaming shopping, shoppable media, gaming commerce and group buying. Applicants will pitch for the Positive Beauty Growth Platform and winners will receive the opportunity to test ideas with Unilever brands like Dove and Axe. The Platform is a collaboration between The Unilever Foundry and Unilever’s Beauty & Personal Care division.
Why it matters: Unilever’s program is a realization of the fact that technology needs are shifting rapidly in the packaged goods arena and that it must strategize to stay ahead of trends. The beauty and personal care categories are ripe to benefit from a union between influencer marketing, social content and commerce. Unilever, through this program, aims to amass as large a portion as possible of the growth of these segments as they increase by 30 percent until 2028.
SocialPubli chief executive officer Ismael El-Qudsi implores brands to ask themselves three questions before considering whether to invest marketing dollars in TikTok: 1) whether your ideal customer is active on TikTok; 2) how flexible and creative you want to be with your brand; and, 3) whether your marketing goals align with TikTok’s capabilities.
Why it matters: Although TikTok’s popularity can’t be overstated, it’s not necessarily the right platform for every brand. Its principal demographic might not be your target audience, you might not be willing to go outside the box in ways that TikTok users expect, or you may want to focus more on ads and platforms that offer universal ecommerce functionality. There are a number of elements to consider before hopping on the bandwagon and spending marketing dollars on a TikTok campaign that isn’t purely for advertising purposes, but rather for awareness and engagement.
The majority of Puerto Ricans value the relationship with the US and the citizenship it brings, yet Puerto Ricans also value their Hispanic culture and the Spanish language. One reason many see Puerto Rico as the Caribbean extension of the US Hispanic market is that Puerto Ricans carry American passports but are unable to vote in presidential elections while living on the island. For others, Puerto Rico remains a distinctly Latin American market.
Why it matters: According to Jaime Rosado, owner and CCO of RosadoToledo&, brands that perform better in Puerto Rico are those that localize their strategies based on the uniqueness of its market.
Angela Rodriguez, senior vice president, head of strategy, ALMA, says marketers should be cautious not to lump Puerto Ricans in Puerto Rico together with US efforts since the identity drivers and barriers of one whole may not necessarily translate to the other.
McKinsey & Company
The three main trends that the pandemic accelerated and are likely going to persist at varying degrees moving forward include how companies adopt technology, remote work and consumer digital transactions.
Why it matters: Contrary to how companies normally respond to recessions, the pandemic caused them to adopt new technology to keep operations going – from automation and robotics to virtual reality (VR) headsets that enabled technicians to repair machinery remotely. Before the pandemic, about five to six percent of Americans regularly telecommuted. During the pandemic, that figure rose to 35 to 40 percent. Last, consumer pulse surveys indicate that consumers find digital transactions efficient and convenient even on channels that hadn’t tried such transactions before the pandemic.