Although marketing theory is useful, the real comes in marketing tactics and execution. We talk with two seasoned CMOs to learn digital marketing strategy and tactics that deliver results, build your brand, and help you stand out from the crowd.
Watch more videos and see the complete transcript: https://www.cxotalk.com/episode/cmo-playbook-marketing-strategies-tactics
Tim Matthews is Chief Marketing Officer for Exabeam, the Smarter SIEM company. With a focus on the security market, he has over 20 years of experience building and running software marketing teams. Prior to Exabeam, he was Vice President of Marketing at Imperva, where he led worldwide marketing. Tim also ran the marketing organization for Incapsula (acquired by Imperva) where he drove the growth of the SaaS security service before being promoted to lead marketing for the entire company. Prior to Incapsula, Tim ran worldwide product marketing for Symantec’s enterprise security product portfolio. Tim was also head of marketing and product marketing at PGP Corporation (acquired by Symantec). He began his career in the security market at RSA Data Security, which was acquired by Security Dynamics and subsequently renamed RSA Security. Tim has a BS in Computer Science from Union College in Schenectady, NY. He is also the author of The Professional Marketer.
Mark Herring is Chief Marketing Officer at InfluxData. He is a well-rounded silicon-valley executive with proven experience in taking complex technology and making it understandable to the broader audience. He has a deep passion for marketing starting with the developer all the way up to the CIO. Before InfluxData, Mark was VP of corporate and developer marketing at Hortonworks. Previously, Mark has held senior management positions at Software AG, Sun Microsystems, Forte Software, and Oracle. Mark holds a B.S. Degree from the University of Witwatersrand, South Africa.
Digital media and publishing is a tough industry, with changing business models and competition from large and small players. Learn how a seasoned entrepreneur helped create one of the large digital media and publishing brands in the world.
For more info, see https://www.cxotalk.com/episode/ziff-davis-behind-scenes-digital-media-brand
Digital media guru Anurag Harsh was recently voted as LinkedIn’s #1 Voice in Technology. He is a founding member of the executive team at Ziff Davis for the past 7.5 years and has orchestrated its growth from a small privately held company into one of the world’s largest public digital media companies with the group’s revenues exceeding $1 Billion at a $3.5B Market Cap and 200% growth in stock price.
Anurag is the author of 7 business books including three Amazon bestsellers, has published over 400 business articles for Huffpost, FORBES and other publishers, is a Wharton & MIT alum and has performed two sold out solo concerts at the Carnegie Hall as a vocalist.
From the transcript:
Anurag Harsh: Well, digital media and the advertising landscape is staggeringly complex. Let’s start with some of the misnomers that people have about the landscape. Smartphone growth is slowing. Everybody thinks that it’s all about mobile and smartphones. Therefore, a lot of the digital media publishers are publishing to smartphones. Of course, they should do that, but what they don’t realize is that global smartphone shipments actually just grew 3% this year compared to 10% last year. That’s something that’s important. In order to build a business, a digital media business, you need to understand the landscape and who your target customer is and where they’re actually browsing.
The other thing that’s happening when you think about the Internet usage growth is, at least in North America, adults are spending a lot of time every day, as we all know, about five or six hours a day, on the Internet. That’s about 3 hours per day on just mobile compared to maybe it was like 45 or 50 minutes a few years ago.
The other thing that’s happening is the online total advertising spend because all the digital media business is fundamentally advertising driven, different forms of advertising. It could be commerce, it could be display, it could be affiliate, but it’s all bundled under advertising. The total online ad spend, it’s growing steadily. Mobile obviously has now overtaken the desktop in ad dollars, just as it has with usage and time. That’s an important thing.
Anurag Harsh: But they’re only seeing 20% of the ad spend. What that tells me is there’s a massive gap, and this gap is about $16 billion of opportunity for essentially brands to have more mobile ads on the Internet.
The other thing that’s happening is–and we all know this, but I’m going to say it anyway–over the next several months, and it’s probably already happening right now, the dollars that are spent on Internet ads are starting to eclipse dollars that are spent on television. What that tells me is it’s indicating a huge opportunity for mobile products to soak up the shift. These are some of the things that are happening.
There are quite a few other things that are happening in the world of digital. This is absolutely true. There’s the ad duopoly, which means Google and Facebook control 85% of the growth in online ads, and their share is increasing every year. As more data and impressions keep helping these companies improve their targeting, it really is becoming very, very hard, really impossible. It’s an existential problem, I call it, and we’re going to talk about this a little more, eventually.
It’s becoming harder and harder for other platforms, and really any other publisher, to compete. That’s the thing. There’s this ad duopoly, and it’s not going to go away. It’s actually going to get even worse.
The other aspect of that is this whole thing called ad blocking. It’s skyrocketing. People don’t want to see ads, which is the glue and the oil of the Internet that powers all of digital media. In developing markets where data costs can be high, what users are doing is they’re increasingly blocking ads whenever they can. Nearly 400 million people around the world are blocking mobile ads, and that’s a problem.
Big platforms like Facebook, Google, Snap, they’re responding to advertisers seeking to prove return on investment on their ad spend by improving ad targeting relevance, the ads that people are going to see–hopefully they don’t block these ads because the ads are more relevant to what they want to see–and then measuring, the measurement of how these ads work. Targeting has become a huge thing.
How is marketing changing? Robert Tas, vice president of McKinsey & Company, tells CXOTalk about digital transformation in the marketing operating system. How and why is it changing? What should a company do? Tas shares practical advice for personalization, insights, design, technology, speed, and agility.
For more information: https://www.cxotalk.com/episode/digital-transformation-marketing-personalization
In his current advisory work, Tas helps financial-services companies reinvent marketing for a digital world. He has designed agile marketing organizations that can operate at a faster pace, using best-in-class marketing technology, including next-generation measurement systems. The goal is to digitally enable the entire customer decision journey. He previously served as CMO at a leading software company, and as head of digital marketing at a top-ten U.S. bank.
From the transcript:
(00:02:07) Well, I’m very excited to talk with you. You work with a lot of different clients from very large organizations who are doing sophisticated things with digital marketing and with data and analytics. Maybe a good place to begin is, when you’re out there roaming the world providing advisory service and working with your clients, what are some of the key digital marketing trends or issues? What’s really important to your clients?
(00:02:40) Good question. I think there’s a lot of buzz out there, and a lot of people are trying to figure out a number of things. I like to think of them in some categories.
• (00:02:48) The first one that I look at and I hear a lot of people talking about is personalization. I think the idea of not treating every customer the same is really, really important in today’s world. A lot of companies are trying to figure out how to do that better.
• (00:03:01) The second one is data. You talked about it a little bit in the beginning in your intro. Data, data, data: everyone is trying to figure out how to harness the volume of information we now have and actually put it into action.
• (00:03:14) The third is design. I think this is one of the newer areas that’s getting a lot of traction. Really understanding how to do user centric design and how do I make my experiences relevant to my customer base.
• (00:03:26) The fourth that I like to talk about is marketing technology, one of the biggest buzzwords going there, but really understanding the components of the martech stack, and CMOs are now becoming integrators.
• (00:03:38) Then the fifth one, which is probably the most evolving one, is this new concept of the operating model, the speed at which we work. The reality of digital marketing today is the tools we have. We can do things a lot faster than we’ve ever done before.
(00:03:54) I think CMOs are trying to figure out all five of those things to really transform their marketing organizations.
I think the best in class marketers are leading the way in the use of data in the way they approach their marketing programs. They’re leading the way in testing and learning. They’re leading the way with agile approaches to their marketing where they’re constantly thriving for more information around the customer to be smarter about it.
(00:10:57) Like you said, there are challenges. The first one that comes to mind is the data silos that exist in organizations, especially larger organizations. It’s hard to connect all those customer touch points.
(00:11:08) The second piece is understanding who owns the customer experience and how is that managed and implemented across the board within my organization. Often we have silos that create the upper brand, the upper funnel team, the bottom funnel team, the post customer experience team, and things like that. We’ve got to figure out how to build our strategies more holistically.
(00:11:29) The third bucket is, there’s a lot of technology, a lot of legacy systems in these organizations that need to be cobbled together. You really need a diligent strategy to go do that.
(00:11:39) Then fourth, like you said, is you’ve got to start thinking more from that last click conversion campaign thinking to really enabling the customer journey. How do you go about delivering that? How do you remove friction through that process? How do you get more data to enhance it and help the customer get what they want?
(00:11:59) But you also mentioned design. Where does that now fit into this picture?
(00:12:23) Yeah. It’s a really interesting piece because the creative guys have always been on either the ad side or certain pieces of the journey. I think it’s really important that we start getting them involved into the entire journey and understanding how to map those pieces together. It’s no longer enough for the marketer to say, “I drove the traffic to the website and I did my job.” You’ve got to be able to design those experiences and have consistent experiences end-to-end.