Following an introduction from Bill Hunt to the CMO track the First session of the CMO Track at SES has Brian FetherstonhaughCEO of Ogilvy One worldwide keynoting. Brian has 30 years of experience in marketing and in his role at Ogilvy deals with CMO’s of some of the largest organizations in the world daily. According to Brian the marketing Agenda of the entire world is in the hands of about 1000 CMO’s. Given this statistic it is no wonder we are still only seeing 10% of the spend online. The search marketing industry has done a horrible job of communicating the value of search to this elite group of budget holders. Until we find a new way to communicate to this group we will stay on the peripheral of marketing.
Brian gave a great example of the 13 year old having a better performance dashboard on his video game than the average CMO. Raised onthe 4P’s and still being taught in schools Product, Place, Price, Promotion Brian offers another alternative as the new fundamentals of marketing. The 4 E’s Experience, Everyplace, Exchange, Evangelism. Brian uses Apple as a good example of the 4E’s. There is one gap in the Apple process and that is service and repair. Brian goes on to use the Dove real beauty campaign as an example of a very effective campaing very notable because the media budget was zero. Brian then showed a very funny parody video of the evolution of the man worth checking out. With 500 million views of the Dove campaign for free Dove decided they could live with the parody. Brian talked about the Obama campaign and one aspect of the campaign the use of performance metrics which has been somewhat overlooked when the campaign is discussed. IBM is a company to watch for the 4E’s style marketing. Their smarter planet campaign is excellent.
Brian then went on to talk about the role of search in marketing going forward. The search mind share of the CMO is probably 1.5% maybe 2.0% but its very small. There is a space in the CMO’s mind for Marketing ROI, there is a large space for Job Security, may be as high as 15%, marketing organization, Global and Matrix, and marketing communications. The CMO’s mind is very busy. Approx 15% of the CMO’s time is taken up with digital and only half that is search.
Brian proposed 3 options
- Whine that they don’t get it
- Wait until they die
- Or do something about it
5 ways to move up the CMO Agenda:
- Do not start by talking about search start with the customer journey. Talk about trigger and research and how it can help them beat their competitors.
- Search=Research – This is how you will get the attention of the CMO. It is vital to their role and decision making. Speak to search in the the language of the customer, Real-time, global+massive scale.
- More lift, less attack. Search is better than t.v, e-mail, print is the search marketers mantra. Marketers start withsearch to beat up on the other media. Do not do this, make them bigger, prove the lift Effects of Search on Television, Direct Mail and e-Mail, Print, Telemarketing and customer service, Face to face/retail, Social Media, Sponsorships. They really care about the impact of search on brand.
- Search can help CMO extend power. Global search governance can reduce inefficiency + duplication, Bring $ value to to business units, Create a global best practice.
- Search + Innovation, Innovation is very important to the CMO while maintaining ROI. Ogilvy has digital labs in 4 countries, addressing such sisues and Mobile, Social Media, LBS and local, Digital POS.
Question: Are the 4′E’s a subset of the 4 P’s, from a marketer in the audience. Feels the 4 P’s are still valid.
Answer: The 4 P’s are a subset of the 4 E’s they are needed but are not sufficient. There is a need for a re-interpretation of the the 4 P’s.
Question: How do you sell consulting to the CMO’s into a bigger engagement that is not just performance metrics.
Answer: These are big decisions for the CMO. Choose an enlightened and empowered CMO first. Put your best people on the job who have been trained to communicate with the CMO. Pick a place you have a good shot.
Question: Expand on the CMO side on what they expect from an ROI
Answer: Devote more to the R&D and impact on sales. clicks and conversion data will not sell search to the CMO. Lifetime value is very important.
Excellent presentation with the message that we as search marketers need to hear to help us communicate with and speak the language of the CMO. After all they have the budgets we want a greater portion of to improve that 10% spend online statistic.