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CMO
No One Dies in Marketing (7 leadership tips from Kodak CMO)
Two days after resigning from his position as Chief Marketing Officer, Jeffrey Hayzlett was still saying “we” when referring to Kodak, a habit I suspect will take some time to break. Speaking with understandable pride after four years of remarkable accomplishments, Jeff answered my questions with an authority that at first left me baffled. Then it hit me. This is not your typical marketing maven. Jeff Hayzlett actually puts the Chief in Chief Marketing Officer.
Instead of talking about ad campaigns, we talked about products and value propositions. Instead of talking ideas, we discussed what a marketing chief needs to do to succeed in a rapidly changing media landscape. Its not that Jeff doesn’t care about ideas, its just that he knows those are by products of performing the CMO job as a true leader, a practice that I have broken down into seven bite-sized morsels for your immediate consumption.
1. Align Goals
Making sure your marketing goals align with the goals of the company seems like a fairly basic place to start but it is amazing how many senior marketers forget this important first step. “A lot of CMOs fail because they forget to get conditions of satisfaction,” offered Hayzlett, who spends a lot of time setting the goals and won’t move forward until he knows what will make his customer (in this case, his boss) happy. Jeff acknowledges that “a lot of CMO’s aren’t even in the C-suite,” which can make nailing down the goals quite a bit tougher.
2. Create Tension
Once your marching orders are clear, Jeff believes the next priority of the CMO is “to create tension in order to encourage more innovative activity.” When reviewing the launch of a new video camera, Jeff created tension “by asking questions no one thought to ask before,” even going so far as to publicly ridicule an alphanumeric product name. “That made some of my people cringe,” acknowledged Hayzlett, whose questions led to a public search for a new name that generated millions of free PR impressions, thousands of entries and one winning name—PlaySport.
3. Act Fast
As we jumped from topic to topic, it was clear to me that Jeff is nothing if not a man of action, and his biggest lament, “wasting time on things that didn’t materialize.” In a period of four years, he was able to launch several successful new products in both B2C and B2B segments, all of which were able to achieve 1st, 2nd or 3rd positions in their respective categories. Jeff noted with glee that 60% of Kodak’s revenue now comes from products that didn’t exist when he started there. When talking about the launch of the naming promotion for Play Sport, Jeff sounded more like the head of racing pit crew, having jumped from concept to execution in two weeks flat!
4. Stretch Budget
It is no secret that Jeff is a huge fan of social media noting that, “It’s a great way to launch a new product and gave us an extreme amount of credibility in the video camera category.” Targeting “every blogger and thought leader,” Hayzlett and his team were able to make Play Sport a strong alternative to category leader Flip without spending a dime on traditional media. As he points out in his new book, The Mirror Test, Hayzlett sees social media as an extraordinary way to connect with consumers and stretch a budget under an umbrella notion he celebrates as OPM, or “Other People’s Money.” Given the low costs, even the smallest businesses can see very tangible returns from social media,” offers Hayzlett.
5. Breakdown Silos
Recalling the extraordinary success that Kodak has had in the ink jet category, Jeff zeros in on how Kodak changed the value proposition in the category, offering reasonably priced ink cartridges to go along with a reasonably priced printer. “When the printing of a recipe is more expensive that the actual ingredients, the consumer knows there is a problem,” noted Hayzlett. Because marketing had a “seat at the table” and participated in the product development process, Hayzlett was able ensure that a strong value proposition was baked into the product, offering a point of difference that made marketing a far simpler task. With the silos broken down, Kodak ink jet printers, according to Hayzlett, “achieved #1 share in some countries.”
6. Take Risks
“No one is going to die in marketing,” offered Hayzlett when discussing the justification for taking risks like playing a video featuring a gray-haired spokesman shouting “booyah” about how Kodak was changing. He went on to note that, “if you want to grow, you’re going to have to take risks. It’s not that Hayzlett is out to offend but as he cautions, “sometimes you don’t know ‘til you try it.” He prescribes “doing it in such a way to minimize the backlash,” and if things don’t work as planned, “its okay to say we screwed up.” Jeff recalls with bravado that his group was fined $500 for not filing a promotional contest in time, a calculated risk that ended up saving his team irreplaceable weeks in program development time.
7. Listen Up
After talking for a good bit, Hayzlett circled back to the importance of listening to the consumer and being “completely transparent.” During his tenure at Kodak, he brought “voice of the customer” to the forefront establishing the position of Chief Listening Officer “to bring scale” to all of Kodak’s social media activities. With a CLO in place, Hayzlett ensured that complaints were heard, questions were answered, comments were responded to and even more PR was generated. “When a consumer tweets ‘they are thinking about buying,’ then we listen and point them in the right direction,” added Hayzlett, whose innovative and authoritative approach to the CMO position at Kodak leaves some pretty big shoes to fill.
Final Note: During his tenure at Kodak, Hayzlett established himself as one of the first “celebrity CMOs,”gaining notoriety on Celebrity Apprentice and extending it with a well publicized book tour. With an army-sized following on Twitter, and a well-established presence in every form of media, I have no doubt we’ll be hearing a lot more from Jeff in the near future.
Also tagged with: CMO, Drew Neisser, Jeffrey Hayzlett, Kodak, The Mirror Test |
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How e.l.f. cosmetics achieved beautiful growth in an ugly economy.
… in just under two years Ted was able to help e.l.f. cosmetics significantly increase its sales in one of the worst recessions in history, providing a textbook case for any aspiring guerrilla marketer.
Also tagged with: CMO, e.l.f. cosmetics, guerrilla, Guerrilla Marketing, Renegade Thinking, Ted Rubin, The CMO Club.com |
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Innovative CMOs: Spotlight on Barbara Goodstein, AXA Equitable
Detailed case history of MyRetirementShop.com, a retirement portal AXA created to help retain customers which also attracted new ones.
Also tagged with: 800# gorilla, AXA Equitable, Barbara Goodstein, CMO, Guerrilla Marketing, innovative marketing, Marketing as Service, renegade, TheCMOClub.com |
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CMO: Evolving from Chief Miracle Officer
A few weeks ago I had an interesting conversation with Todd Wasserman of BRANDWEEK about the evolving role of the CMO. Todd’s insightful article appeared this week in both ADWEEK and BRANDWEEK and included a few quotes from yours truly which he interpreted as complaints. Since my thoughts were more observations than laments, I figured I’d post my notes from our conversation:
The CMO has evolved from Chief Miracle Officer to Chief Minutia Officer. The CMO used to be charged with creating a marketing miracle, finding that magical ad campaign that would have a multiplier effect on awareness, excite the trades and ultimately drive sales. If the CMO couldn’t deliver such a campaign either he/she or the agency lost their jobs and replacements were found. Just about every CMO wanted a mass media brand-building campaign like the Aflac Duck or the Geico Gecko.
Then along came Google complete with truly measurable results and tectonic plates of marketing started to shift. Suddenly CMO’s were emboldened to say “I only want to do what produces measurable results” and the super savvy ones had a dashboard with real time information from search clicks to web traffic to online buzz to 800# calls to retail sales. Jim Garrity, the former CMO of Wachovia was on the forefront of this trend, studying all the data points with unrelenting passion. Business Week profiled Garrity back in 2006 and noted he “sounds like a man who never met a data point he didn’t like” and “Garrity and those like him are quietly reworking the advertising mix of the American corporation.”
This new kind of CMO is less interested in the monumental and more in the incremental, seeking a steady diet of singles and doubles over the infrequent but more showy grand slam. This is not necessarily a bad thing either. The more metrics that a client has in place the more likely that an agency can prove that what it does for the client actually works. It also means that the CMO has a better chance of keeping his/her job for more than 24 months. CFO’s are far more likely to increase the budget if the business case is there to justify such an increase. This methodical approach also dovetails nicely with the current “make more out of less” economy.
For the record, I applaud this new kind of CMO since they make sure marketing aligns with sales and the metrics for success are clear from the beginning. Without these two factors in place, it will take more than a miracle for even the best of agencies to build a successful partnership.
Also tagged with: Adweek, Brandweek, Chief Minutia Officer, Chief Miracle Officer, CMO, renegade, Todd Wasserman |
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In Search of Service
In a world polluted by banal messages it is annoyingly hard to find great cases of “marketing as service.” So today, I’m pleased to offer two reasonable good examples, fresh off the pages of this week’s AdAge.
The first comes from an interview with the new CMO of Wachovia, Ranjana B. Clark, who naturally initiated an agency review shortly after her arrival. [Start of rant--why is it that new CMO's insist on conducting agency reviews? In this case, Mullen did a particularly brilliant job over the last 7 years helping to grow that brand. I suppose it is simply a question of "what have you done for me lately?" but what about all the cumulative knowledge and expertise they potentially offered?--end of rant] As I was saying before I so rudely interrupted myself, this otherwise smart-sounding CMO of Wachovia, has determined that “American’s don’t save [and] have too much debt” and that a bank like hers needs to address these problems substantively:
The way we gain consumer trust is by truly listening and responding to our customers. … Our latest product introduction, “Way to Save,” is a way to help customers get into the savings habit. … We make it easy and we make it fun, and we make it possible for people who are either not in the habit of saving, or have very little to save, to begin.
This is the essence of marketing as service. It’s not enough to talk the talk (that’s marketing as message). You also have to walk the walk (that’s marketing as service). If this isn’t clear enough, consider Purina’s new website called PetCharts:
The site capitalizes on one of the universal truths of the web: People love pet content, especially funny cat photos or user-generated videos of pets at play. But the site also capitalizes on another one of the web’s universal truths: that when it comes to that pet content, 90% of it is bad. The goal for PetCharts is to help people find the good stuff.
Purina is performing a genuine service for its customers and in process should help them stand out of the pack of pet food marketers. Lest you think I’m alone in the praise of this approach, consider this quote from AdAge:
“This is really smart because the marketer is actually trying to give something valuable to the consumer in the context of how you create value on the web,” said Scott Karp, CEO of Publish2, an aggregation service aimed at journalists. “The web is a fantastic information medium and what the marketer is doing is giving the consumer relevant information.”
Wachovia’s new “Way to Save” product could help its customers save money, an offering that could be particularly helpful to the newly indebted. Purina’s new site could help its customers save time finding the best pet photos, a pursuit that only true dog lovers can understand and appreciate. In both cases, customers and marketers are well-served.
Also tagged with: AdAge, CMO, Marketing as Service, PetCharts.com, Purina, Wachovia |
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