Marketing Tips From 7 Experts | Cannes 2024 Marketing For The Now
1Digest
This episode of Marketing for the Now, the CAN 2024 edition, features CMOs from various companies discussing hot takes on AI, the importance of driving revenue and profit, and the underpriced and overpriced nature of different marketing channels. Jenny Lewis, CMO and president of The Not World Wide, shares her observations on the overhyped nature of AI and the need for brands to diversify away from Google. Jim Malica, Chief Marketing Officer at Bose, emphasizes the importance of CMOs being accountable for driving revenue and profit, and argues that performance marketing should be considered performance selling. Mark Kirkham, CMO for international beverages of PepsiCo, highlights the convergence of purpose, technology, and creativity in marketing, and emphasizes the importance of physical experiences linked to social digital engagement. Ashish Peril, Vice President of Marketing at American Eagle, stresses the importance of networking and the need for marketers to get ahead of AI. Joe Kano, Chief Marketing Merchandising and Growth Officer for Zappos, emphasizes the value of authentic social media marketing and the need for brands to invest in content creation. Marcelo Cortez, CMO at Manscaped, discusses the importance of humor in marketing and the need for brands to find the balance between performance marketing and brand building. Michelle Ergon, who leads Grand Marketing and Strategy at Spectrum Reach, highlights the importance of customer experience and the need for brands to harness chaos to improve the customer journey. The episode concludes with a discussion on the importance of understanding customers and creating relevant and resonant advertising.
Outlines
VCON Conference Announcement
This Chapter is a brief advertisement for VCON, a business conference taking place in Los Angeles from August 9th to the 11th. The speaker emphasizes the importance of attending this event and encourages listeners to visit the website, vcon.co, to purchase tickets.
Marketing for the Now: CAN 2024 Edition
This Chapter introduces the CAN 2024 edition of Marketing for the Now, focusing on the theme of "day trading attention." The episode begins with a conversation with Jenny Lewis, CMO and president of The Not World Wide, who shares her insights on the current marketing landscape.
Bose CMO on Performance Selling
This Chapter features Jim Malica, Chief Marketing Officer at Bose, who discusses his perspective on performance marketing. He argues that performance marketing should be considered performance selling, emphasizing the importance of CMOs being accountable for driving revenue and profit.
PepsiCo CMO on Experiential Marketing
This Chapter features Mark Kirkham, CMO for international beverages of PepsiCo, who shares his insights on the convergence of purpose, technology, and creativity in marketing. He highlights the importance of physical experiences linked to social digital engagement and the growing power of out-of-home advertising.
American Eagle VP on Networking and AI
This Chapter features Ashish Peril, Vice President of Marketing at American Eagle, who discusses his first experience at CAN. He emphasizes the importance of networking and the need for marketers to get ahead of AI.
Zappos CMO on Social Media Marketing
This Chapter features Joe Kano, Chief Marketing Merchandising and Growth Officer for Zappos, who discusses the importance of authentic social media marketing and the need for brands to invest in content creation.
Manscaped CMO on Humor and D2C
This Chapter features Marcelo Cortez, CMO at Manscaped, who discusses the importance of humor in marketing and the need for brands to find the balance between performance marketing and brand building.
Spectrum Reach CMO on Customer Experience
This Chapter features Michelle Ergon, who leads Grand Marketing and Strategy at Spectrum Reach, who highlights the importance of customer experience and the need for brands to harness chaos to improve the customer journey.
Keywords
AI
Artificial intelligence (AI) is the simulation of human intelligence processes by computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using rules to reach approximate or definite conclusions), and self-correction. AI applications include expert systems, natural language processing, speech recognition, and machine vision.
CAN
CAN (Content and Commerce) is a conference that brings together marketers, creators, and entrepreneurs to discuss the latest trends in content marketing, commerce, and technology. It is known for its focus on practical insights and actionable strategies.
Day Trading Attention
Day Trading Attention is a book by Gary Vaynerchuk that explores the concept of attention as a currency in the digital age. The book argues that marketers need to be more strategic about how they capture and monetize attention, and that they should be willing to "day trade" their attention by focusing on what is working in the moment.
Performance Marketing
Performance marketing is a type of marketing that focuses on driving measurable results, such as sales, leads, or website traffic. It is often used in conjunction with digital marketing channels, such as search engine marketing (SEM), social media marketing, and email marketing.
Customer Experience
Customer experience (CX) is the overall perception that a customer has of a company or brand. It is influenced by all aspects of the customer journey, from the initial point of contact to the post-purchase experience.
Overpriced
Overpriced refers to a product or service that is priced higher than its perceived value. In the context of marketing, overpriced channels or tactics may not be delivering a strong return on investment.
Underpriced
Underpriced refers to a product or service that is priced lower than its perceived value. In the context of marketing, underpriced channels or tactics may be delivering a strong return on investment but are not being fully utilized.
Social Media Marketing
Social media marketing (SMM) is the use of social media platforms to connect with customers, build relationships, and drive business results. It involves creating and sharing engaging content, interacting with followers, and running social media advertising campaigns.
Content Marketing
Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action. It is a long-term strategy that aims to build relationships with customers and establish thought leadership.
D2C
Direct-to-consumer (D2C) is a business model where brands sell their products directly to consumers, bypassing traditional retail channels. This model has become increasingly popular in recent years, as brands seek to gain more control over their customer relationships and reduce reliance on third-party retailers.
Q&A
What are some of the key takeaways from the CAN 2024 edition of Marketing for the Now?
The CMOs discussed the overhyped nature of AI, the importance of driving revenue and profit, and the underpriced and overpriced nature of different marketing channels. They also emphasized the importance of networking, customer experience, and authentic social media marketing.
What are some examples of marketing channels that are considered overpriced or underpriced?
Overpriced channels include television advertising, some Google platforms, and direct mail. Underpriced channels include social media marketing, streaming audio, and creator content.
How can marketers harness chaos in the current marketing landscape?
Marketers need to focus on simplifying the customer experience, improving customer journey across all touch points, and organically being a better brand. They should also be willing to experiment and take calculated risks.
What is the importance of understanding customers in today's marketing environment?
Understanding customers is crucial for creating relevant and resonant advertising. Marketers need to gather data in a privacy-focused way and use it to target the right audience with the right message.
What advice would you give to young marketers who are attending CAN for the first time?
Choose your time wisely, prioritize meaningful meetings, and leave room for networking and serendipitous encounters. Remember that your time is your most valuable asset.
What is the biggest challenge facing marketers today?
The biggest challenge is navigating the fragmentation of attention and the constant evolution of the marketing landscape. Marketers need to be adaptable, creative, and willing to experiment to stay ahead of the curve.
What is the role of humor in marketing?
Humor can be a powerful tool for connecting with customers and creating memorable experiences. It can help to cut through the noise and make a brand stand out.
What is the importance of finding the balance between performance marketing and brand building?
Performance marketing can be effective for driving short-term results, but it is important to also invest in brand building to create lasting impressions and build long-term customer loyalty.
What is the future of marketing?
The future of marketing is likely to be driven by AI, personalization, and the increasing importance of customer experience. Marketers need to embrace these trends and adapt their strategies accordingly.
What is the biggest takeaway from this episode of Marketing for the Now?
The biggest takeaway is that marketing is a constantly evolving field that requires marketers to be adaptable, creative, and willing to experiment. The key to success is understanding your customers, creating relevant and resonant advertising, and finding the balance between performance marketing and brand building.
Show Notes
On today's episode of the GaryVee Audio experience Im sharing a very special edition of Marketing For The Now. While I was at Cannes This year I sat down with 7 marketing experts to get their thoughts on the current state of the industry. We discuss everything from the future of AI in advertising to where the best place to put your media spend for reach as well as much more. Trust me, if you are looking for advice to step your marketing game up in 2024, this episode will do just that. Enjoy (:
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