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A formula for growth marketing: the holy grail for the modern CMO

In last episode of the ClickZ Marketing Masters podcast, we spoke with Kip Knight, former Taco Bell CMO, about improving C-Suite relationships. One of the points discussed was that of financial literacy. In the second part of this conversation on the changing role of the CMO, we speak with Stephen Diorio, Managing Director at the Revenue Enablement Institute. We discuss the topic of financial accountability, and how marketing leaders can embrace growth marketing to drive, measure and communicate business outcomes that impact cash flow. Diorio provides ten points for marketing leaders looking to operate at an elite level and build trust with business stakeholders. The first five represent characteristics of a great marketing leader: Financial accountability Ownership of the revenue cycle Coalition building Curator of commercial assets Build a centre of excellence for analytic and data-driven selling Growth Marketing Formula Diorio proceeds to offer a formula for growth mar...

Alexa, show me Tripadvisor’s voice-activated marketing strategy

Do you use a voice assistant to help you boil an egg , search for local restaurants and businesses, or plan your next holiday? If so, you are not alone. 36.6% of the US population owned a smart speaker device in 2021, and a 2018 study from Juniper Research estimated there will be eight billion digital voice assistants in use by 2023. The opportunity for voice-activated marketing has never been larger. Over the past three years, TripAdvisor has recognized this frontier as a vital part of its communications strategy. The online travel company has created a unique audio experience for its audience on Alexa smart speaker devices. Audience members are taken on a customized voice tour (of Orlando or Abu Dhabi) simply by saying “Alexa, launch Visit Orlando.” At a time of travel uncertainty, Tripadvisor’s audio-immersive experience leveraged first-party data insights to ensure content was credible and relevant. It kept audience members engaged for an average of over four minutes. It was a...

Video marketing playbook: Squeezing the most from your video content

30-second summary: Video marketing makes up 82% of all consumer traffic. It’s a vital part of any communication strategy. Despite some similarities, each channel (from TikTok to YouTube) has distinct requirements. Delivering content that works across multiple channels is daunting. Failure to plan results in increased time and cost post-production. This lowers campaign performance and ROI. Mark Pontrelli, Director of Content Creation at Wella Company, provides a playbook for planning video content. If you want to get your consumer’s attention and tell your brand stories, your content needs to include video and a lot of it. Since the dawn of cinema in 1895, video has drawn eyeballs to screens like no other medium. Fast forward to 2022 and online videos have been predicted to make up 82% of all consumer traffic. The consumer has been gravitating to video because it’s a compelling medium. It elicits an emotional response. Moreover, people have more options than ever to consume ...

Why CMOs are failing and how they can rebuild C-Suite relationships

A 2021 study by Boathouse found that whilst 86% of CEOs believe CMOs have the power to influence key decisions of the C-Suite , only 32% of CEOs trust them. In theory, CEOs recognize the role marketing executives can play. In practice, marketing leaders are failing to live up to the expectation. This shocking reality is reflected in the volatility of CMO tenure. In 2021, average CMO tenure clocked in at 40 months. The average CEO tenure was over double this at 85 months. 80% of CEOs believe this short tenure is due to the failings of CMOs. Moreover, there is also a lack of trust at the manager, director, and VP level. External CMO hires increased from 37% in 2020 to 45% in 2021. Where CMOs are going wrong In the latest episode of the Marketing Masters podcast , we speak with Kip Knight, the founder of CMO Coaches. Kip shares his insights on this systemic issue and explores how marketing leaders can rebuild their business relationships. Kip argues that the role of any great market...

Mastercard’s multisensory marketing: A masterclass in sonic branding

At the Cannes Lions Festival 2022 , Mastercard launched its first music album, “ Priceless” . Yes, you read that right. On the face of it, one of the world’s largest payments and tech companies releasing a record might seem like a bizarre stunt at best. However, this album is a long time in the making and is the latest, calculated step in Mastercard’s hugely successful sonic branding strategy that continues to push the boundaries of digital marketing practices. In a world where consumers are constantly being bombarded with constant messaging and clutter, it can be easier to tune out advertisements rather than to acknowledge them. Multisensory marketing opens the door for a unique opportunity to reach the minds and hearts of consumers. By tapping into all five senses, marketers can connect to their desired audience on a deeper level and develop more subconscious associations, such as trust and reliability. Sonic branding is a critical extension of overall branding. It is not just abou...

Growth marketing trends that will affect how businesses plan for 2023

Forecasts, business plans, techniques, and strategies typically perform best when adjusted to industry trends. That’s basically a really boring way of saying that most of us don’t use carrier pigeons and typewriters to communicate. Why? That’s not the most current and effective method in the modern world. When it comes to growth marketing, businesses are taking notice of what works and what doesn’t in today’s digital landscape. What worked five years ago is unlikely to carry the same impact now, leaving you with poor results stemming from outdated strategies and changing customer preferences . Here are three growth marketing trends that should be accounted for in your 2023 plans. 1. Strategy integration There are several variations on the phrase “greater than the sum of its parts.” The concept can apply to a great number of situations, ranging from cross-team productivity to strange food combinations (cronut, anyone?). In recent times, marketing experts have begun to realize the pot...

Is your brand elastic enough for Web3?

30-second summary: Having a web3 strategy is non-negotiable. However, keep in mind the Web3 is not the metaverse Develop a plan as if expanding into a fresh territory. Alan Kittle, Executive Creative Director at Summer Friday, provides three ways to plan for Web3 Activate only what’s authentic for your brand and keep in mind consumer perception is the only reality Developing a web3 strategy for your brand is necessary because it’s simply the evolution of your approach to digital. Marc Andreessen of a16z recently called the movement the “second half of the internet” while also acknowledging the visceral “fear and loathing” of many critics. And much like the early days of the internet, it’s a tough sell right now. And no, fear not, I am NOT going to refer to the metaverse at any point in this piece. Web3 exists now, while the metaverse is still a work in progress. Blockchain-based technologies and user experiences are very much in their infancy, while consumers and brands a...