RENEGADE THINKING from the Founder/CEO of Renegade AND the author of "The CMO’s Periodic Table: A Renegade’s Guide to Marketing."

How BBVA Compass Banks on Purpose Branding

08/14/16

When you think of banks, or any financial institution for that matter, I doubt you are overcome with heartwarming images of improved welfare and social care.  Unless you’re among the few that have had a warm and fuzzy experience, most likely your relationship with your bank is mainly transactional — a deposit made here or statement issued there.  Interestingly, there is at least one bank out there that would like you to like them less for their transactional prowess and more for their commitment to “bringing the age of opportunity to everyone.”  

That bank is BBVA Compass and the campaign that got my attention is called “Banking on a Brighter Future,” a purpose-driven program introduced AAEAAQAAAAAAAAhcAAAAJDQwZTFhZTQyLTkzMmMtNDFmNy1iMTYyLThlOWViZGQ5ZDE1YQby their Chief Marketing and Digital Sales Officer Jennifer Dominiquini.  I’ve known Jennifer through The CMO Club for several years and was delighted when we finally had a chance to talk about purpose-branding and the organizational commitment required to make it real.  Jennifer, as you will soon see, is not one to just talk the talk.  She also walks the walk or more precisely rides the ride, having just completed a 500-mile bike trip for a charity that was also a BBVA customer.  So yes, her commitment to living bright and giving a chance for others to do the same is something you can bank on!

Note: this is a lengthy interview but I decided not to break it up into 2 posts because frankly if you are interested in how to activate effectively against your brand purpose, you’ll want to read every last word.  

Drew: Can you take me back to when you became a purpose-driven organization and the process that you went through to determine your purpose?

Jennifer: Since its founding in 1857, this company has believed its corporate purpose should be about creating a better future for people. Recently, our Chairman and our CEO realized that we needed to make it more explicit that we are a purpose-driven organization, and so last year we set out to do just that by specifically stating that our purpose is to bring the age of opportunity to everyone.

The company overall is very inclusive, and that has led us to facilitate opportunity for everyone, whether an individual, a family, a company, or a community. Said another way, we believe everyone deserves a bright future and the chance to thrive in the age of opportunity. Our goal as an organization is to help our clients stay in control of their financial journeys, and it is our responsibility to help them get to that bright future.

Drew: Was the idea of “Banking on a Brighter Future” developed in-house or did you work with an agency partner?

Jennifer: It was actually developed in-house with the support of agency partners. One of the key inspirations was our global purpose statement, which aligned perfectly with the traditional brand research we had. We were really passionate about this, so we put it into practice first by rolling it out internally and then started to incorporate it in our external messaging as well.

Drew: How did you communicate the idea of “Banking on a Brighter Future?”

Jennifer: We tried to infuse as much “bright” vocabulary into the work we were already doing internally. We also ensured that every element of our end-to-end client experience was bright. We highlighted bright moments of associates out in the field who went the extra mile to help a client. At our employee launch, our CEO and key leaders hosted a fireside chat-style forum to share the brand strategy and communicate the message hat every associate has the responsibility to bring the brand to life. We wanted all employees to understand that this was not just a new tagline but rather a way of doing business, a way of living and breathing the brand.

Drew: How did you equip employees with the resources needed to promote the brand externally?

Jennifer: First, we incorporated the word “bright” into our different methods of communication as often as we could. We also created an employee brand portal with videos and other media, showing how our executives were embracing the brand and also branding themselves. We distributed bright blue boxes containing stickers and other brand paraphernalia to each department so employees could display and promote the brand.

In order for the brand launch to be successful, it had to be something our associates believed enough they would be willing to go out and share it. So, a few months later after our internal launch, we celebrated our first annual Bank It Forward Day, a chance for our associates to bring the brand to life in the community through random acts of kindness.

Drew: Can you provide an example of how employees went out into the community, promoting Bank It Forward Day?

Jennifer: We equipped everybody with the opportunity to volunteer and do random acts of brightness in the community. Essentially, employees formed groups of 5 to 10 people, then went out and did acts of kindness in the community using their $25 gift cards provided by BBVA Compass. That was the first real opportunity for our employees to realize that when you live bright, you can actually have fun while helping out others in the community. Some of the stories were just phenomenally engaging, and we generated social media buzz and plenty of employee engagement as a result.

Drew: Can you give a few examples of some of these “acts of brightness?”

Jennifer: We saw one person pay off a debt for a family whose son was in the hospital. We also met a woman who had a couple of flat tires on her car but had to leave it to feed her baby at home. When she came back, she saw the note on the car that said, “It’s BBVA Compass. Come on over, we’d love to help and we have a surprise for you.” A few associates combined their gift cards to buy the woman four new tires for her car.

I personally had the honor of surprising a shopper in a grocery store who was about to spend her last $20 of the week. I think the tipping point in the brand roll out was when employees started to have fun. They realized this is not just a marketing strategy exercise, this is a way of living.

Drew: Do you have a sense of what percentage of employees participated? Did you have a goal?

Jennifer: This was one of our most successful volunteer outreaches ever. We started at 12% the first time, and now we’re up to 30%. This time, the updated program – now called 100 Days of Brightness – extends beyond a single day to give employees the flexibility to choose any day over the course of 100 days.We were really impressed the first time because we really didn’t know what would happen but 98% percent of the people who participated said they would absolutely do it again.

Drew: What was the reception of the Bank it Forward initiative” among senior BBVA Compass executives?

Jennifer: Our executives have been extremely supportive of this because, as a company, they all understand that we can’t just talk about our purpose, we have to go out and fulfill it. For example, the Head of Business Development is an avid runner, so he ran around a park on Father’s Day and surprised other park runners with gift cards. He also visited one of our charitable partners along his route to surprise them with more gift cards.

Our COO, who is very much supporter of animals, visited an animal shelter to deliver much-needed supplies for the shelter. And our CEO pursued his passion for helping children by bringing a cool treat to kids at the Community Family Center in Houston. In addition to some new sports equipment and art supplies, he also served snow cones to nearly 200 students and staff on a hot July afternoon.

Drew: So have you changed or adjusted your hiring practices to emphasize brightness among candidates?

Jennifer: People are definitely looking to bring in others with a like-minded, positive energy. We aim to on-board people who share our purpose-driven methodology and look for ways to empower people to act brightly across our employee base.

Drew: How did you go about making employees feel comfortable to bank at BBVA?

Jennifer: As our CEO said, if we are going to talk about brightening the lives of others, we also need to do a good job of brightening the lives of our teammates. We emphasize our employee banking perks and make sure people take advantage of the benefits of being loyal to your employer. We’ve done a lot of employee banking drives to encourage people to sign up, and those events provide the perfect opportunity to remind employees why they should bank where they work. It’s more than just a reminder that each account benefits the company. It’s a reminder that, when you bank the brand, it’s easier to successfully live the brand and share it with others.

That said, we need to make sure it is easy and rewarding for those associates to bank with us, – for both clients and employees alike.

Drew: So we spent most of our time on internal activation, is there anything that you would like to highlight from an external standpoint?

Jennifer: Absolutely. We knew we had hit a home run internally, so we wanted to make sure our external push was equally successful. We created an online portal for our video content, and because we are official bank of the NBA, we were able to launch Bright Futures externally in a robust way.

Our brand ambassadors tell their own personal stories to bring to life the ten Bright Futures principles. For example, Becky Hammon, the first female coach in the NBA, talked about the hurdles she faced on the road to becoming an all-star player and the first female All Star coach. Instead of telling the athletes’ stories from the sports angle, these videos really captured the human angle.

Drew: What is the reason behind the sports focus of Bright Futures?

Jennifer: We started with sports because that’s where many of our sponsorship lie (we are the official bank of the NBA and the Houston Dynamo and Dash call the BBVA Compass stadium their home) but as I said, we intend to expand it to a lot of different walks of life. Ultimately we will feature musicians and artists, technology, entrepreneurship and other areas.

We’ve also incorporated the Brighter Future mantra into nearly all our external marketing. From a social media perspective, we engage our audience with our #LiveBright and #BrightFutures hashtags. The two work well together because we’re saying if you want to help others have a bright future, then you have to live bright along the way.

Drew: It’s fascinating to hear you talk about how you shifted from product-first to story first, which must have sparked a good amount of doubt and discomfort internally. What made you confident that this risk was worth taking?

Jennifer: Well, we still do free-checking and rate-based advertising for our deposit products, and we still promote our loan products. But we’ve tried to layer acquisition marketing, digital marketing, and branded advertising with messaging that’s consistent with the brand, using the video and the storytelling piece. The brand, the content, and the storytelling have enabled us to improve our consideration scores with consumers, to bring new clients to the bank and to engage our existing ones.

Drew: We’ve heard about the successes of the Bright Future initiative but I’m guessing there have been some mistakes along the way? Can you tell about some of the challenges you have encountered?

Jennifer: I would say that there have been definitely some creative executions that didn’t work as well in the beginning. Creative development for us was an iterative process, and we learned what resonated and what didn’t as we experimented and iterated based on learning. The good news with digital is that it’s easy to do a lot of testing, but part of our initial challenge was aligning the right creative with the right media and doing so in a nimble and flexible way. I don’t think it was a failure, but more of a learning process and a recognition that some efforts don’t produce immediate results.

Drew: You’re the Chief of Marketing and Digital Sales Officer. Do those two often conflict?

Jennifer: Not really. Digital has been a major focus to drive sales through all of our channels, along with improving the branch experience and engaging our clients. In fact, all of the key marketers in other countries in the BBVA portfolio also have this title. I’m lucky that I don’t just own marketing, but I actually have online account origination and analytics which allows me to see much more of the end-to-end experience.

Drew: I know you’re heavily focused on digital but how much of your role is centered on traditional marketing?

Jennifer: In the old days, marketing was very much “put the product over the fence and tell the clients what they need to know.” Historically, digital and traditional marketing have been separated. But having these two areas together is fundamental because I have the flexibility to allocate resources between digital and traditional efforts. We recognize that it can’t all just be about digital. There are many times when more traditional marketing like direct mail or newspaper ads make the most sense; in other cases, we know that branded content on YouTube will be more widely watched that television. Having ownership of both sides lets us leverage the best channel for each initiative. All in all, it’s been a very interesting time to be a marketer and the fact that I have both of these sides is wonderful.

Drew: Now, you have to tell us about your 500 mile bike ride. What a great example of how you are living the brand purpose. 

Jennifer: Well, it was the experience of a lifetime seeing our client, David Baldwin, literally ride from coast to coast. The trip really encapsulated living bright: everybody was happy, helping each other, and teaching each other. It was very powerful to know that we were doing something for a good cause, and that we were able to put ourselves literally our client’s shoes. The Pursuit ride raised $12.5 million for the Center, a private, not-for-profit organization caring for adults with intellectual and development disabilities, while raising awareness for adults with disabilities nationwide. Baldwin rode 3500 miles, and BBVA Compass was proud to be the ride’s presenting sponsor. The event aligned perfectly with our belief that that everyone deserves a bright future. I could not be more proud of riding alongside David and team. As the Chief Marketing Officer, it is my responsibility and honor to not only shape the brand but believe in it and live it, too.

Q+A w Stephanie Anderson, CMO, Time Warner Cable Business Class

07/4/16

Stephanie-Anderson_TWC-Official-150x150As you all know, I never pass up an opportunity to sit down with a marketer and hear which practices worked and which didn’t work for their company. I mean, what better way to learn more about this ever-changing industry than to listen to leaders in the field share their insight, the lessons they’ve learned, and the strategies they stand by. Through these conversations, I’m able to add value to my company and our clients.

On the blog today is former CMO of Time Warner Cable Business Class Stephanie Anderson, a friend of mine, president of The CMO Club New York chapter and a veteran of TheDrewBlog. I spoke to Stephanie in 2012 when she first joined TWCBC, and although much has changed since then, her stance that “knowing your customers and prospects will never go out of style,” still holds true. I’m sure Stephanie would agree that this way of thinking is largely responsible for the success of her team at TWCBC. It was interesting to talk to Stephanie as she wrapped up her time at Time Warner Cable, and to partake in a much different conversation than the one we had in four year ago. Now, we’re talking customer communities, loyalty programs, content marketing,  and the way television has strengthened digital.

Drew: You’ve been in the job about 4 years now. Can you provide an overview of your overall approach to marketing at Time Warner Cable Business Class?

Stephanie: When I arrived at Time Warner Cable, we were many businesses and we were marketing at a very local level- which I believe in- but we were missing an overarching message and communications methodology.. The goal of my team was to find the place where localism mattered, and then compliment that with a consistent campaign across the country. We had to find the best breed of each of those local areas and then pull it up to one common message.

Drew:  How did you decide that the consistent campaign was going to focus on your customers and get to a point where you thought that would be effective?

Stephanie: It started with a focus on what we called an “outside-in approach.”  This meant we could never lose sight of our customers and our competitors. If we weren’t doing that, then we’d be missing the boat.  By always thinking about our clients we knew we had a chance of developing programs the competition would fear.  From there it was an easy step to testimonials, telling customer stories online and on television , which ended up being great for all parties.

Drew:  How did you find the customers to feature?

Stephanie: We initially identified a few companies largely because they were loyal customers of ours. They also had interesting stories to tell and were hugely popular in social media, which demonstrated a lot of energy and engagement.  So we focused on finding those kinds of customers, and then telling their stories on television, print, and digital.

Drew: Did this have an impact on their business?

Stephanie: One of the companies we actually became quite close with is Beekman 1802. They have an online service that they we’re really trying to grow with a very unique product base. Once we put them on TV, their popularity grew significantly. We even did a follow up story with them, which was thrilling for both parties.

Drew: Did your approach to finding customers for the campaign evolve?

Stephanie: Yes.  We’ve been using an online resource we created for customers called PerkZone to help us find more great stories, and then turn those into testimonials.  In this case, the customers nominate themselves by submitting their stories.  The response has been amazing and these small business success stories are truly inspiring.  When we do our long form testimonials, the story “inside the story” is always amazing.

Drew: What’s the story behind PerkZone?

Stephanie: One of our partner agencies is Renegade and they helped us create this retention strategy and loyalty program for small businesses called PerkZone. Accessed through our “MyAccount” portal, which customers use to pay their bills and manage their account, PerkZone has two areas, “Deals and Discounts” and “Ideas and Community.”  In the first area, small business can find discounts from national brands as well as post deals for their local customers.  It is in the other area that we were able to source hundreds of stories, a few of which were featured in our TV campaign.

Drew: Wow, so you could go from the online portal to become a star on TV?

Stephanie:  Yes, like the Voice or something; it still happens. The best talent sometimes comes right to you.

Drew: Has Perk Zone had a material measurable impact on loyalty as far as you can tell?

Stephanie: Absolutely. Like many companies, we’re very focused on Net Promoter Score (NPS) and we’ve seen a really strong correlation between any digital engagement and customer satisfaction.  Customers who use our MyAccount portal are significantly more likely to recommend us than those that don’t.  The numbers get even better with PerkZone users.  My gut told me that this was the right thing to do, and it was nice to see that the data proved me right.  We’re continually trying to think of ways to engage with the customer, and we know we need to continue to invest in these areas.

Drew:  Let’s zoom back to the big picture.  How has all of this customer-centric marketing paid off?

Stephanie: TWCBC been very successful from a B2B standpoint having had 18 quarters of consecutive quarter-to-quarter growth!  That’s remarkable considering TWCBC not a small business–it has over $3 billion in revenue and it gets harder to grow when you’re big. The company is not only acquiring customers, it’s also keeping customers, and some of these tactics that TWCBC has been talking about like establishing this community and getting to know its businesses better has actually helped our results considerably.

Drew: Pundits have been saying, “TV is dead” for years yet here we are in mid-2016 talking about how well TV has worked for your B2B brand?

Stephanie: First, we’re TV people and TV is still very much part of our culture. But more importantly, TV does really work.  It does exactly what it’s supposed to do. It guides the inquiring person to your website, or wherever you want and helps get them engaged in the process. That is what it’s meant to do, just like a print ad or something else. Some of these traditional tactics get people motivated to go see more or engage with you, and that’s what we’re trying to do.

Drew:  So TV gets the conversation started and then they go online. How are you making the two work together?

Stephanie: We have a great vendor partner that we use in the digital space that can make real time adjustments based on how much traffic TV is driving online. It’s amazingly sophisticated.  Making sure that our offline and online tactics are coordinated has really profited us.  It’s one thing to be coordinated with campaigns; it’s another thing to be coordinated on the delivery side, making sure that people are going where you want them to go. It saves both parties time.

Drew: I’ve heard you talk about a fifth P beyond Product, Price, Promotion and Place. Can you elaborate on it?

Stephanie: Everyone knows about the 4 Ps, and they are very important in marketing, and I think they fulfill most of everything that’s going on out there. I contend that there is this 5th P that is Proof. This probably comes from my long history of being in sales at different levels in technology. Notoriously, there was always this moment in the demonstration when the tables turned and the customer says, “okay I get it,” or “okay I’ll take it.”  That was the moment we provided the Proof, when we helped people really see how others were using the technology.

Drew: Let’s shift gears here.  TV and digital were not your only tactics.  You also got into content marketing, right?

Stephanie:  Absolutely.  Working with our partner RSL Media, we actually created a publication called Solve that goes to our 160,000 customers and prospects in the mid-market space.  It’s both a 24-page printed magazine and an e-zine, with content that’s relevant to that mid-market space. With highly topical and informative stories, we’re able to keep the conversation going by delivering really useful information that just happens to from Time Warner Cable Business Services. The response has been great – we’ve had customers actually call us to make sure they’re subscribers and to get other employees on the list.

Drew: Why not just create a digital version of Solve? Why go to the expense of printing it?

Stephanie:  Some of it stems from years back when I needed to accumulate a book of testimonials for our sales force and also links back to my early point about Proof.  Sales people need to be able to demonstrate proof of what you’ve done for other companies.  Solve is great for that since many of the stories feature customers.  It gives the sales person something physical that can help start a conversation.  It’s really hard to do that with a digital-only version.  Also, our customers felt more important being featured in a well-produced magazine.  It was prestigious enough that customers started asking how they could be featured!  In this case, the medium was also the message.

Drew: What would you say was the biggest lesson you have learned that you would pass along to future marketers in your industry, or any industry?

Stephanie: I think going back to the customer or competitor focus, and keeping your eyes set on the external. Whether that be your competitors, or your brand or your prospects that are so important. It’s so easy in marketing to get distracted by the stuff or the creative, or the results. Sometimes you need to step back and think wait a minute, who am I trying to talk to? And if I were them, would I listen, or if I were the competition, would I be afraid of what they’re saying?  Those are the things that we are committed to because they work. If you keep that forefront on your mind, you will be successful.

Q&A with Evan Greene, CMO of The Recording Academy

06/26/16

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The Grammys have brought us some of the best moments in television, and the most spectacular performances in music. From Michael Jackson’s moonwalk across the stage in ’88 to the Elton John and Eminem duet in ’01, and most recently Lady Gaga’s tribute to David Bowie, the Grammys have been the place for historical moments in music. And if you’re like me, you brim with excitement before the show, and are unable to stop rehashing the night’s best moments for days after. One night a year, the telecast captivates people around the world and easily dominates the conversation on social. However, is the show on your mind for other 364 days? Well, I spoke with Evan Greene, a friend of mine and CMO of the Recording Academy, to hear how his team approaches the challenge of marketing a show that airs one night per year. Key words here: social, social, and more social.

Drew: What does your marketing purview include?

Evan: I can tell you that anything that touches the Grammy brand ultimately runs through the marketing area, whether it’s marketing and brand strategy, PR, social media, digital content and yes, partner strategy. We represent the biggest brand in music, and for other brands, there is value in aligning with us. We partnered with other brands to utilize the impact and the marketing reach of brands that are complementary to our own. Also, we are a 501(C) 6, a not-for-profit trade organization, and this affects our marketing strategy.

Drew: How does it affect your marketing partnerships, specifically?

Evan: We put together marketing partnerships so that we can leverage the impact of the Grammys, which is unparalleled in terms of credibility and prestige. On the flipside, the value that partners bring to the table opens up other marketing channels. Now, because of the prestige of our brand, there is a value associated which means there still needs to be an economic model in place.

Drew: Was there partner integration for Lady Gaga’s performance? Did Intel do the projection?

Evan: Yes. This was the first time when we partnered with a company to actually help us enhance the performance. If you notice, there was no Intel visibility or attribution on the telecast because we wanted it to be subtle. We focused on making the performance memorable, something that people would be talking about for a long time. At the end of the day, Intel received a tremendous amount of credit and earned media.

Drew: And with that comes months of hard work and constant communication between Intel and the Grammys.

Evan: Yes, there was a lot of heavy lifting and coordination. We put something together that had never been done before. There were things that happened on the Grammy stage from a technology standpoint that have never been put on television. It really was the next generation of Grammy moments, right before our eyes.

Drew: Every year, you challenge your agency to do some new things. Let’s talk about the new things that you did this year in terms of marketing and social.

Evan: This year we started thinking about the inspirational power of music and the intersection between music and sports. Sports came in because it was SuperBowl 50 and it ran on CBS, eight days prior to the Grammy Awards, which created an extraordinary opportunity to bring the two together. We engaged our agency of record, Chiat/Day, which in my opinion is one of the best shops on the planet.

Drew: How was the concept further developed?

Evan: We started from the standpoint of how do we celebrate sports and music. How do we align the best in music with the best in sports, globally? What came out of that was a powerful tagline, called “Witness Greatness.” We looked at the music that inspires the athletes who in turn inspire the world. “Witness Greatness” really is about the inspirational power of music, and we could apply that in a number of ways.

Drew: So you were able to move beyond just the “Witness Greatness” tagline?

Evan: Yes, it was not only the theme and tagline, but also the visual representation and how we applied it. We then applied the theme to social and made sure that any visual we associated with represented greatness. We made sure to elevate that conversation whenever and wherever possible.

Drew: How did your team focus on the witness portion of “Witness Greatness”?

Evan: We have a companion stream, sort of a shoulder programming experience called “Grammy Live.” It shows different angles and elements, not necessarily the telecast itself, but it shows backstage etc. This year, we inserted a camera inside the base of the Grammy statute so that we could actually witness greatness in a different way-from the position in the POV of the statue itself. We got some great footage and content that had never been captured before. 

Drew: After the Grammy team fully adopts the theme, I’m guessing the next step is for the media to pick it up?

Evan: Yes, and was amazing when the media starts quoting our taglines, and when other members of our social ecosystem started organically using the “Witness Greatness” hashtag. When I think about all the touch points, from those doing social to the persons pitching media stories, to our marketing partners, there is a consistent look and feel across the board.

Drew: Any favorite projects from the “Witness Greatness” theme?

Evan: There were a couple of components that I found particularly exciting. If you go on our YouTube page, youtube.com/thegrammys, there is a video that we did with Kendrick Lamar in his hometown of Compton. We went on the street, and asked people to sing a couple of lines from his song Alright, which has become sort of an anthem over the past year. We created a video of all of these individuals singing particular lines of the song, and at the end, it culminated with an impromptu performance and the tagline was “Greatness Comes From Everywhere.” This served as a drive to the Grammys. 

Drew: I know the Grammys has worked with user-generated content in the past. Can you give an example of how you used UGC in past seasons?

Evan: Several years ago, we had a campaign called “We’re All Fans,” and it underscored the idea that what makes an artist great are the fans. With that in mind, we invited fans to upload videos of themselves and become part of the campaign. That was probably the most organic example that we had. People actually got to see themselves as part of the national Grammy campaigns, creating mosaics of Lady Gaga and other global superstar artists.

Drew: How was UGC executed for this Grammy season?

Evan: The idea really drives the execution. This year, our campaign was about creating the conversation, engaging with fans and having them share what about their favorite artists represents ‘Greatness.’ So in terms of UGC, we didn’t invite video submissions this time around, but we focused on having respectful dialog with our fans and followers about inspiration and greatness.

Drew: The reviews have been very successful on social. Obviously, you’re at the center of the social media conversation during the show, but you’re still very present months after it aired. How is that even possible?

Evan: I think we’ve been very successful and I am happy with the work of our social team and everybody involved in that effort. I think we can get better, I really do. The core reason for this year-round success is respecting fans and speaking with trust and authenticity.

Drew: What are some of the mistakes you are seeing other organizations make with their social media?

Evan: When communication seems gratuitous, and it is focused purely on making a sale or driving behavior, consumers see right through that. We simply want to be a credible part of the music conversation. When you look at the brands that resonate and break through, it’s the ones that earn your trust. If you speak with authenticity, and you respect your audience, then that becomes the cornerstone of trust. Trust is how you build a long-term relationship.

Drew: Being a nonprofit, how do you allocate the money brought in from the Grammys?

Evan: The money that we make doesn’t go to pay dividends, meet a quota or achieve net profit goals. It’s filtered right back into the music industry so we can create more in-school music programs and empower the next generation of music makers. We give back in a variety of different ways to enhance and srengthen the industry platform that the Recording Academy sits on.

Drew: One of the other things that you’ve done over the years is expand the Grammys from Grammy night to Grammy week. I feel like this was Grammy month. Where are you right now in terms of the scale of the Grammys?

Evan: I think we’ve made a considerable amount of progress over the years, but we still have a ways to go. What has struck me is that we’ve built this massive brand with a tremendous amount of impact by virtue of a single television event held for three-and-a-half hours, one night per year. The marketing opportunity that creates is enormous. If we take a proactive brand management approach, how impactful and powerful a brand could we be if we continue to extend throughout the year?

Drew: What a challenge! How do you rate progress? 

Evan: I think we have expanded the impact of the Grammy as a brand, beyond simply one night per year. I do not believe that we are anywhere close to being there yet where people started thinking about the Grammys as a relevant brand they need to interact with in June, July, and August. But like I said, we’re making progress and there are a number of exciting things on the horizon.

Positive Leadership, Elisabeth Charles, CMO of Athleta

01/5/16

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As this is my first blog post of the year, I’d like to focus your attention on the power of positivity.  Don’t gag! Seriously, the first step to getting something big (or little) accomplished is believing that you can.  Conversely, if you harbor negative thoughts about a particular challenge chances are you will outright fail and then fall back on the easy out, “I knew that wasn’t going to work.”  So, let’s be positive people.  Positive about setting a few really big goals and positively committed to achieving them.

Which is a perfect segue into my conversation with Elisabeth Charles, the CMO of Athleta.  I’ve known Elisabeth for at least 4 years having met her at a CMO Club Summit. At that time, she was CMO at Petco and part of cabal of indomitable San Diego-based women CMOs that rivaled any group in the country for smarts and talent but were distinguished more by their gregarious positivity.  Amazingly, within a few months of each other, each of these ladies found themselves looking for their next opportunity, not with a “woe is me, how could this happen?” attitude but instead excited about facing new challenges and stretching their wings.

Since then, all have gotten one step closer to their dream jobs, especially Elisabeth. As CMO of Athleta, which is based in Northern California, Elisabeth can rarely be seen not wearing her new brand.  This is not an affectation.  Elisabeth has always been athletic and committed.  Wearing Athleta serves multiple purposes. It shows she’s proud of her employer.  It helps her experience the brand and be better prepared to talk with the designers especially since she gets a lot of feedback from other women about her attire.  And perhaps most importantly it sets an example for her team–don’t just market the brand, be the brand.  That’s the kind of positive message that made Elisabeth an easy choice for the CMO Club‘s Leadership Award.  (And of course, I’m quite positive you’ll enjoy our interview below.)

Drew: How would you describe / or how have others described your leadership style?

I am a leader who supports and drives change. It’s important to not be afraid to ask tough questions and be willing to challenge the status quo in order to move companies forward.  In order to do this, I try to be extremely diplomatic, collaborative and respectful of the past as I look towards the future.  I have very high standards and am extremely results driven, but also seen as compassionate and fair.

Drew: Do you have any role models that you’ve admired over the years and if so, what did you pick up from him/her?  
I admire visionaries who are purpose driven and able to build a vibrant business with strong company culture, while also doing good in the world.  Some of my role models in this regard are Howard Schultz, John Mackey, Kip Tindell and most recently Jessica Alba.

Drew: Can you talk about some of the actions you took as a leader in the last couple of years that were particularly challenging?  
Leading change at brands is always challenging.  You are asking employees to take a hard look at their business and acknowledge that they have to change what they’ve been doing to redefine where they are going.  It’s especially hard to do this with successful companies who may not fully accept the need to change.  But as they say, “change or die.”

Drew: How important is your peer to peer network to your on-going success?  What are the biggest benefits of having a peer network?
My peer to peer network is invaluable to my on-going success.  I rely on my peers, especially at The CMO Club, to help share best practices as well as challenges they are facing and how they are addressing them.  It’s great to tap into approaches that you would not have thought of on your own, as well as gain confidence that you can solve difficult issues with peer advice.

Drew: What’s the best advice you’ve been given to guide personal / career success?
Do what you love and work where you are rewarded for your natural strengths. Many of us chase the ultimate job or that next promotion or higher salary without really exploring how strong a fit the company’s culture is with our own values.  Don’t stay in a role where you are undervalued or unhappy – life is too short!

Drew: Looking ahead to 2016, what is the single biggest challenge that you¹d like to overcome?
The biggest challenge I’d like to overcome is driving greater brand differentiation for Athleta in a very crowded and competitive atleisure space.  But I love challenges, so I am looking forward to an exciting year of change and taking some risks.

Social ROI: Debate Continues w Ted Rubin

08/5/13

Ted ROILike the proverbial dog with a bone, I’m not letting go of my obsessive search for an answer to the question, “is there a formula for measuring the ROI of social media?” This journey led to a dinner last week with a dozen marketing professionals where we debated the topic of Social ROI at length.  For the most the part, the group could be divided into two camps, those who believed that measurement was just a matter of isolating variables AND those who believed there were too many intervening factors to show direct cause and effect.

It was a spirited discussion to say the least. Among those leading the charge for measurability was Ted Rubin, the author of Return on Relationship, a book with the subtitle “Relationships are the new currency: honor them, invest in them, and start measuring your ROR.”  Clearly Ted has a lot to say on this subject and he was kind enough to agree to the interview below during which he identifies what I’d call directional indicators of ROI like Lifetime Value of a Customer and the relative value of connected versus non-connected customers.  More importantly in my mind at least, Ted also offers some excellent advice on how build these relationships, without which there is no hope of ROI or RonR.

Drew Neisser: How is RonR different than a company’s “goodwill” in accounting terms?

Ted Rubin: Good will cannot be measured, but factors of RonR can. Lifetime Value of a Customer, Average Order Value, and Frequency of Purchase.

Drew Neisser: How would a brand use ROI metrics to measure RonR? Are there any data trends that would indicate the brand relationships are taking a positive trajectory?
Ted Rubin:At this time, looking at customer lifetime value is a really attractive way to measure both ROI and ROR when it comes to Social Media.  Syncapse’s recent study shows a significant and positive difference in customer value, when comparing non-followers vs followers in Social Media.  Not only do they purchase more, but their advocacy creates new Word of Mouth value for the brand.  An ongoing measurement comparing average non-connected customers to connected customers will help any brand gain a great understanding into just how valuable those online relationships are.

Drew Neisser: Would you ever advocate for artificial intervention if the response to a campaign is lukewarm, even after a company takes the steps you recommend to build meaningful relationships (listening, making it “the channel of me,” etc.). For example, buying Twitter followers or internally commissioning positive reviews/comments

Ted Rubin: Never, ever buy Twitter followers. They are worthless. Now… paying someone who knows how to properly aggressively grow your Twitter following, that is incredibly worthwhile if they know how to do it properly and add value at the same time. But that cannot happen overnight to jumpstart a campaign.

Drew Neisser: What were some of the brand relationship issues you encountered at the companies you’ve managed, and how did you employ your theory of RonR to ameliorate them?

Ted Rubin: For the most part it has been about the feeling that companies are not listen… so listen, and take actions that make it incredibly obvious you are doing so… then make sure that is easily shared. In addition the very best thing you can do to add RonR is bringing the marketing silo in line with the customer svc silo. Since it is incredibly rare that the CMO has jurisdiction over cust svc, important to reach out to person running it and work closely together. Amazing the RonR that is achieved by simply replacing product, and aligning the two. Also when a CMO actually interacts with with customers via social has an incredible impact in customer relations and with social that word is spread incredibly fast. Be real, authentic, and engaging and the results with affect your bottom line. Actively look for and engage critics. I LOVE critics… first if there is one there are hundreds more. Engage them publicly and you can resolve issues for many at once and show your willingness to do so. Most critics are incredibly easy to turn into Dynamic Advocates… simply BE NICE and replace their product.

Drew Neisser: At what point do you think consumers “break up” with a brand, and, if possible, how do you build up a relationship with consumers who are on the brink of abandoning it?

Ted Rubin: Consumers break up when they are not being heard… simple.  So… LISTEN, HEAR, and let then know you do. I know this seems like common sense, but unfortunately, or fortunately for those brands who DO get it, common sense (and using good Judgement) is not very common. Also the pervading fear of such interactions make them a goldmine for those who recognize the value.

Drew Neisser: If a small company has managed to build a meaningful, loyal customer base but doesn’t have the manpower to adequately handle these relationships at the same level over time, what are some effective steps the brand can take to prevent defection?

Ted Rubin: Simple… empower your employees to do the work.  Allow them to interact and engage… encourage it. Also encourage and empower them all to build their own personal brands and social media influence/connection/following. Especially in a small company, your employees should be your strongest and most valuable advocates.

The Non-Linear ROI of Social

07/19/13

I’ve spent a lot of time recently obsessing about the ROI of Social Media.  Not just because current and prospective clients want to see some kind of a return on the services Renegade provides (although that’s a damn good reason in and of itself) but also because it’s a fabulously complex Kobayashi Maru-like challenge.

Consider for a moment all the roles that social media can perform for a company including customer service, recruitment, research, product development, awareness building, crowd sourcing content, referral/lead generation, and yes, even direct sales in a few cases.  Now try to unbundle those roles and show straight line ROI for any of them with the exception of the last one.  Good luck to you.  (By the way, smarter minds that mine like Lux Narayan of Unmetric have concluded http://onforb.es/14mn0NX  it’s just not possible.)

Thinking that social media could be my route to the answer, I sent out this tweet:

Screen Shot 2013-07-19 at 9.23.13 AM

 

 

Rob Moore, CEO of Internet Media Labs and a fellow IBM #SmarterCommerce VIP Influencer (which has become an invaluable micro-social network!) was kind enough to respond leading to the conversation below. Rob offered a terrific example of “Non-Linear ROI” which brought us both some comfort that all the social networking stuff we do actually does pay out!  If you have similar tales to share, let me know.

Drew Neisser: First, can you provide a short description of Internet Media Lab?
Rob Moore: Internet Media Labs is a NYC based new media & technology company.  We build technology to help businesses and brands build and manage social relationships more effectively.  We also run a cool co-working space and produce a web show, #InTheLab.

Drew Neisser: Talk to me about how you measure social ROI in terms of your own business?
Rob Moore: Social ROI for us takes many forms, and it is important for businesses to recognize that there are many forms of Social ROI that can be quantified and measured.  Of course, there is the obvious – we make a social connection that becomes a buyer of one of our products or services.  But there is also tangible ROI that comes in different forms: from connectors – people that introduce you to others that ultimately buy – and amplifiers, people that share our message about our products.

It has to be noted, however, that none of this happens without a significant investment in relationship building.  We have amazing social relationships and networks that will have significant impact on our bottom line for years to come.

Drew Neisser: ROI in your case seems like a very non-linear non-direct marketing process. Is that a fair assessment?
Rob Moore: Absolutely.  Up to this point, I would say that most of our ROI would qualify as originating from non-linear connections, i.e. someone that introduced you to someone else, that invited you to speak at a conference, that resulted in a business opportunity.  That is pretty non-linear!

One important thing to recognize as well is that many of those originating relationships happen as the result of seemingly “random” intersections – the serendipity of social.

Drew Neisser: So you met Linda Bernstein (@wordwhacker), who is clearly an influencer and she has been evangelizing on your behalf which lead to various leads which you will close at some point. That sounds like ROI to me. Do you think it’s possible to actually create a model that puts a value on your nurturing of people like Linda?
Rob Moore: First of all, I need to state for the record that it would be impossible for me to put a “value” on my relationship with Linda, she falls into the PRICELESS category!  But that said, you can absolutely model and attribute value to your social relationships, especially when you apply what I call “social forensics” to the analysis: mapping and identifying the true origin of that revenue you just booked.

When you are able to do that, every social relationship can be assigned a potential future value.

I want to be clear that I don’t look every person I meet on Twitter with dollar signs in my eyes.  Rather, I look every new social relationship as an opportunity for mutual discovery, networking and advocacy.  By being authentic and agenda free, trust is formed and friendships are created, the by-product of which is magic!!!

This works both ways for IML, by the way.  We have sponsored many an event, used services, or paid commissions to people and businesses that we have met through social media.  As a matter of fact, our social media ROI balance sheet is a little in the red right now – we need to do something about that!

Drew Neisser: Is this kind of networking / relationship building with influencers scalable?  If so, any thoughts on how?
Rob Moore: It is scalable, but it doesn’t happen without a plan and significant commitment. My friend Angela Maiers (@AngleaMaiers) coined the phrase “Tactical Serendipity”, which I love.  Tactical Serendipity means putting your self in position to take advantage of the random intersections that happen every second in social.  If you can identify where you best social relationships have come from, put yourself in a position to attract more of them – you can scale great relationships if you know where to find them.

Drew Neisser: Also, you’re a seasoned vet with a proven track record which makes it a lot easier for you to network with other influencers like Linda.  Could a junior person at your company have done this? Is this sort of networking something you can teach people?
Rob Moore: Yes I believe this type of networking can be taught to and mastered by almost anyone.  Surely my depth of business experience has been an advantage to me as I have engaged in social, but there was a massive learning curve for me as well.  I think that learning curve can be compressed, though, to accelerate success and positive outcomes.  For junior people, this can be achieved through coaching and mentoring, for senior people new to social it is often just a matter applying existing skills sets and knowledge to well defined social relationship building strategy.

FINAL NOTE: This is just my opening salvo on Social ROI.  Expect a lot more on this subject in the near future.  There are folks out there (like Syncapse) working of formulas to calculate Social ROI and I can’t wait to dig into those…

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