chief_digital_officer_logo_header1Reprinted from Chief Digital Officer

Question 1: How do you define ‘digital strategy’?

“The best digital strategists have two approaches. First, they identify which current business or marketing strategies could be approached more efficiently or effectively using digital. Then, they identify the unique things that can be done with digital that can’t be done otherwise, and this is where the real opportunity lies and where a brand can find real gold. Within the Mobile Marketing Association board discussions, we continually discuss mobile as a means of ‘business transformation.’”

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In the hit TV show Seinfeld George Costanza explains that his whole dating strategy comes down to getting the second date. When Jerry asks why, George says, assuming the role of a commercial jingle: “First it’s a little irritating, then you hear it a few times, you hum it in the shower, by the third date it’s ‘By Mennen!’”

While George was speaking metaphorically, is there a better way to explain how marketers have approached media channels like TV and radio? The assumption was always that the advertisement itself, no matter how good, was going to be irritating, and not just because it interrupted the consumer’s entertainment. As a blatant sales pitch, Continue Reading »

Given that Cannes Lions is just around the corner, I wanted to explore the topic of innovation and wealth creation.  Basically, the age we are in.

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At a conference for marketers in Tel Aviv recently I asked the audience how many of their parents had encouraged them to become entrepreneurs. In a room of roughly 250 people, fewer than five hands went up. I then asked how many encourage their children to become entrepreneurs. I looked out over a sea of raised hands, probably 95 percent of the audience. It was as if I heard the death knell for the big corporation – the 20th Century’s symbol of gainful employment – right then and there.

Welcome to the Age of Innovation. This is an era when technological advances are expected; when new markets spring up over night; and when the rate at which our society transforms itself means that we cannot predict what life will be like in 3 years, let alone 5 years.  For me, innovation perfectly captures what that room of Israeli business leaders represents: The innumerable variety of creation – and destruction – going on all around us.

There are seismic shifts occurring in both the economic and societal realms Continue Reading »

What marketer wants to be closer to their consumer?Image

This is a question I ask in my conference keynotes, and unsurprisingly 95 percent of the audience raises their hands. What marketer doesn’t want to be closer to their consumers? (I just assume that the 5 percent just aren’t paying attention likely because they are checking Facebook, Instagram, Yelp, or tweeting, texting, or shopping on their phone, looking for a Dunkin Donut’s nearby, etc, etc, etc.)

Even if the answer is obvious Continue Reading »

This is a reprint of an article interview at Forbes as conducted by @kimwhitlerImage

This was the simple question posed at the recent CMO Exchange Conference in Miami, Florida. Just 20 years ago, CMOs were just getting adept at computers and the internet, online shopping was a new concept, and social media, digital media, podcasts, and mobile marketing weren’t even on anybody’s radar. Most CMOs were focused on the next big advertising campaign and worrying about just a few channels to place their media on.  Those days are gone and a technological revolution has heralded in a host of vehicles that CMOs are trying to quickly get up to speed on.

To figure out why CMOs and marketers should start caring about mobile marketing, I went to the source – Greg Stuart is the CEO of the Mobile Marketing Association  Continue Reading »

Back in 2004, late into the dawn of the (legit) Internet Advertising age, Ford kicked off a marketing campaign for a major relaunch of the F-150 truck, which Bill Ford called the most important launch for Ford ever.  You’re probably aware of the iconic F-150 if only because between 1991 and 2008 it was the best-selling vehicle in the United States[1] and remains America’s best-selling truck. In any event, Ford had a marketing budget of around $200 million, but it wanted to test that budget against a variety of media combinations.

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About ten years ago I helped conduct a cross-media study for a major Japanese automotive company. We were employing some pretty groundbreaking research to discover whether a company’s marketing budget was being put to good use. For this particular company, we found that 50 percent of its marketing budget in television was wasted. Literally wasted: Half wasn’t bringing in any value whatsoever.

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