During this year’s Internet Week in New York City, I attended Ad Age’s Marketing & Technology Summit. The event attempted to tackle an admittedly broad and fast-changing arena within our industry. While I don’t think the event lived up to its promoted promises for a number of reasons, I do think there were some useful key take-aways and noteworthy quotes.
On the Topic of Security
First up was Karen Quintos, Dell’s Chief Marketing Officer, to talk about “How Marketers Should Handle Data.” Quintos reminds us that marketing plays a pivotal role in “managing and protecting its customers’ data.”
Why should marketers care?
- Brand Erosion: When asked, 76% of customers say “If you violate my security, I’m not going to buy from you anymore
- Marketers matter because they are the ones driving change at their companies when they launch new social media programs, implement new marketing technologies, attempt to harness rich customer data that today’s tools and technologies enable.
- When security is not embraced by the company’s CIO or CTO, it very quickly becomes a marketing problem, especially if it turns into a crisis the CMO then needs to manage
- Marketers can help build internal and external awareness and embracing of a culture of security (“If you see something, say something”)
- Because marketers need to be the advocate for the customer
Evaluating New Technologies
Teaching us a thing or two about how to be a tech savvy marketer, former hedge fund manager and current VP, Digital Strategy at the fast-growing jewelry company, Alex and Ani, Ryan Bonifacino shared his technique and his candor.
To source new marketing technology, Bonifacino relies on his skills as a investment analyst: “With exhaustive research.” Digital is the nucleus of the company. They follow investor deal flow and say “yes” to testing those technologies. After testing technologies, he classifies them and trains employees on them from scratch.
“I never want to have an agency that prevents me from growing,” stressed Bonifacino, and “I don’t want to have an agency that’s tethered at the hip to some larger entity. I believe in the death of the AOR. I believe there should be the ability [for the client] to do babysitting [of the agency]. There should be independence oversight and tracking of media buying.”
C-Suite Skills Sets: Old Guard vs. New
Two partners from C-suite recruiting firm, Heidrick & Struggles, gave us a good comparative run-down of evolving “asks” (expectations) of a modern corporate CMO and CIO. John Abele, Global Managing Partner – Marketing, Sales & Strategy Officers Practice laid out those for the CMO:
- From responsible for “Marketing Spend” to “ROI & Stakeholder Value”
- From “Right Brain/Creative” to “Left Brain/Strategic/More Holistic”
- “Creativity/Intuition Driven” to “Insight Driven/Pull” (The Mad Men days are OVER!)
- CMOs used to come up by “Traditional Career Pathways” but now it’s “Diverse Backgrounds/Multiple Pathways (e.g. from sales, IT, strategy)
- From “Functional Expert” to “Leader of Diverse Experts”
Brands Embracing Programmatic
In a “fireside chat,” Ad Age’s Associate Publisher Abbey Klaassen did a nice job of leading Mark Kaline, Sr. Global Director of Kimberly Clark through their year embracing programmatic media buying. Some of what Kaline shared included:
- They have their own trading desk because wanted ownership of the data
- They can use the data to better learn about and segment their audiences
- They didn’t create their own trading desk because they saw huge cost savings, because while it’s been great, it’s also limited
- KC built direct relationships with DSPs (MindShare, Turn) — they get the data and merge it into their CRM and loyalty program data
- When choosing among vendors, it’s very important to have “linkage” among your various departments: Tech/IT, Marketing and Procurement
- “We’re all swimming in data, some structured/unstructured — it needs to be organized in order to be able to provide insights and be actionable. This used to be labor-intensive; now tech has facilitated it.” As examples of what programmatic enables you to do, Kaline cited a few examples:
- Tying into National Weather Service API so it could inform KC’s DSP about average temps and where it was warmer, Little Huggies swimmable diaper ads were served
- Tying into Google Flu Tracker to enable targeted ad serving for Kleenex where flu epidemic was evident
- Regarding ad fraud Kaline acknowledged, “It is a big problem and is hard to make go away completely. We [the industry] need to start talking about, front and center at a conference — it shouldn’t be a buried topic! the health and safety of a brand is at stake.” Kaline says their DMP has helped improve their viewability scores, so programmatic can help monitor for this, too.
- When asked what he sees as the ideal next solution, Kaline stuck to the data measurement theme:
- “Better measurement; more confidence in the data”
- “Re-imagining the models that fuel the mobile media metrics data”
- “Attribution is extremely valuable”