Prior to last week, I had not had the pleasure of attending the ANA’s Masters of Marketing Conference. That was a mistake as this is obviously where the creme de la creme of the marketing/advertising world comes together for four and a half days to learn, network and golf (not necessarily in that order). In case there is any doubt, this is the list of speakers from the event:
- Mark Addicks, SVP, CMO, General Mills
- Frances Allen, Brand Marketing Officer, Dunkin’ Brands
- Cynthia Ashworth, VP, Consumer Engagement, Dunkin’ Brands
- Diane Brink, VP, Marketing, Global Technology Services, IBM
- Brad Casper, President and CEO, The Dial Corporation
- Joan Chow, EVP and CMO, ConAgra
- Andy England, CMO, MillerCoors
- Neil Golden, SVP, CMO, McDonald’s USA
- Jeffrey Hayzlett, CMO and VP, Eastman Kodak
- David Jones, Global CEO, Euro RSCG Worldwide
- Barry Judge, CMO, Best Buy
- Michael Keller, Chief Brand Officer, Dairy Queen
- Richard McDonald, SVP, Global Marketing, Fender Musical Instrument Corp.
- Stephen Quinn, EVP and CMO, Walmart U.S., Walmart Stores
- Eric Ryan, Chief Brand Architect, Co-Founder, Method
- Jonah Bloom, Editor, AdAge
Over the course of the three days that I was there, I had the opportunity to find out what was on the minds of the chief marketing officers (CMOs) and CEOs at some of the world’s preeminent brands. I captured these learnings via video (using my newly purchased Zi8), Twitter and hand written notes. Obviously it’s not easy distilling all the pearls of wisdom from such a smart group of people into one readable blog post so I’m breaking these learnings into three sections:
- Ten Twenty of my favorite quotes as captured via my (and others’) Twitter streams
- Video and audio interviews with several industry luminaries.
- My five key take aways from the event
There were literally hundreds of tweets from the event so picking just ten is not an easy task. Fortunately, you can look back in the stream yourself at all the updates that were tagged with the #ANAMarketers hashtag from the event. I also went in and “favorited” about 50 of the best tweets so you can see that longer list of good tweets here. If there are tweets that you liked that I missed, feel free to add them in the comments below:
- dwied 2.5% of shoppers make up 80% of most CPG volume. Note the 80/20 rule… no longer rules. #anamarketers (quoting Jeff Hayzlett, CMO of Kodak)
- irinaskaya RT @ANAmarketers: DQ has built an online consumer following with its Blizzard Fan Club, Facebook page, Twitter & DQ blog #ANAmarketers
- Hillary_Ashton @Fidelity CMO James Speros: set aside a portion of budget to experiment: [i say: this is just so key to innovation] #ANA #ANAmarketers
- AaronStrout @BestBuyCMO says that employees are the differentiator. Products/prices are relatively equal. It’s why they use ’em in ads. #ANAMarketers
- nancyleibig #Fidelity’s Speros-economic tsunami has fundamentally changed way that mktrs need to execute-fast & insight-driven #anamarketers
- evantlevy Forget the 4 or 5Ps. I like this better: RT @melindabluett Kodak 4E’s: Engage. Educate. Excite. Evangelize. #anamarketers
- nancyleibig 1/2 of #kodak biggest products are new in the last 2 yrs. All are top 3 in their category. Biggest business turnaround. #anamarketers
- AaronStrout Love it. Eric Ryan @MethodTweets jokes that the way businesses can manage “Twitter Effect” ala movie Bruno is “to make a better product” #ANAMarketers
- dwied Competitors spent $15MM on toilet paper. Method spends $5.1MM on advertising. Brilliant assessment. #anamarketers
- AaronStrout Schwab is sitting w/ SEC to figure out how to ease themselves into social media (still great hesitancy based on regulation) #ANAMarketers
- MarthaAYoung David Jones, CEO of Havas Worldwide: The new world of marketing is open source. #ANAmarketers
- MWellsatForbes #ANAMarketers Miss the ANA conference? Read about today’s discussions here on Forbes.com. http://tiny.cc/Evr1Q
- maadman123 Wow! From Google: 5 exabytes is the amount of ALL info we produced from pre-history to 2003. Today, we produce this in 2 days. #ANAmarketers
- Hillary_Ashton Google CEO Eric Schmidt realtime feedback / openness creates a constant battle AND an opportunity #ANAmarketers
- prnaylor @JonahBloom from advertising age says crowdsourcing displays that brands are owned by consumers. #anamarketers
- Hillary_Ashton @JonahBloom, Advertising Age editor says trend in marketing – radical transparency see social media #anamarketers
- AaronStrout Andy England, CMO of Miller Coors talks RE what sells beer. It’s not sex but 1) segmentation 2) positioning 3) Execution #ANAMarketers
- melindabluett RT @bwiener: Mc’D’s guiding principle “Market what we serve rather than execute what we market”.. authenticity is big theme #ANAmarketers
- bwiener Verizon CMO “Brand marketing needs to reflect fundamental truth about brand”….can’t hide behind advertising anymore #ANAmarketers
- AaronStrout Walmart CMO’s parting thought: Marketer’s job is to get our company focused on creating true value for customers. #ana
Now for the multimedia portion of this blog post. Below you’ll find interviews with AOL CEO, Tim Armstrong, Kodak CMO, Jeff Hayzlett and Method co-founder, Eric Ryan.
VIDEO Tim Armstrong, CEO and chairman, AOL
VIDEO Jeff Hayzlett, CMO, Eastman Kodak Company
SIDEBAR: As promised, I mentioned to a few of the folks following my tweets from the event that I would share the Zi8/video tips that Jeff offered up prior to our interview. He uses his Zi8 quite a bit so I trust that he knows of which
- Get an external mic (one of the best features of this camera). He said that you can get a wired boom mic, a wired lav or wireless lav. I think I’m leaning toward the last as it will be the least intrusive.
- If you do get a wired mic, that you get one with batteries so that it doesn’t drain the rechargeable battery on the camera.
- Definitely use a tripod if shooting interviews. Although the Zi8 has an anti-jitter feature, it can pick up hand/arm movement, especially if the interview is longer than just a few minutes.
AUDIO Eric Ryan, co-founder and chief brand architect, Method (from a guest interview I did with Eric on Susan Bratton’s Dishy Mix podcast show)
Last but not least, here are my five key take aways:
- While the social web appears to be gaining in importance, it’s still not one of the top three things that most CMOs are focusing on.
- In spite of many pundits (myself included) declaring that the world of advertising is dying a slow but painful death, the heads of marketing from the companies represented at this conference all show no signs of slowing down their ad spending. In fact, many mentioned that they plan to spend more next year.
- Segmentation and a “back to basics” approach to marketing ruled the day. I heard several CMO’s mention that their advice to other companies was to “simplify” and and “focus on what they did well.”
- I heard a lot less about measurement and ROI than I anticipated.
- The speakers that did mention “social” spent more time focused things like Youtube videos, Facebook Fan pages and more campaign-oriented approaches than longer lasting, programmatic approaches (a mistake in this marketer’s humble opinion).