Silicon Valley Executive Network CMO Futures Series - The Power of Story 10-27-2015

CMO/Marketing Future Series: The Power of Story

CMO/Market ing Future Ser ies

CMO’s Notebook: Ed Saxon - The Power of Story

Fleeting attention spans. Hard-to-earn loyalty. Harder-to-earn revenue. In today’s fast-paced, competitive digital world, engaging customers has become

increasingly difficult. As a result, connecting with customers and prospects through authentic, emotion-provoking storytelling is now core to

communicating a brand’s value proposition for B2C and B2B businesses.

The 64th Annual Academy Awards - 1992 – “The Silence of the Lambs” Jodie Foster, Anthony Hopkins, Edward Saxon, Jonathan Demme, Ronald M. Bozman, Ted Tally, Kenneth Utt


Ed Saxon

‘What I love about stories is that they are big conduits and emotional pipes into people, so they inspire empathy, they change behavior, and they draw us closer around a common campfire. I think stories help make us more authentically human. We unite around our stories. Stories are at the center of our identity. Man has thought in stories since the beginning. Stories are how we make sense of the world’.


‘As a filmmaker or a brand builder, you have to create a stronger emotional pull ... for customers to part with their money than the emotional pull that makes them want to keep their money’. ‘A quote I love on the power of emotion comes from Maya Angelou: “I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel’.


‘Now -- because there are so many competing messages bombarding us, and because people expect empathy from brands, and expect brands to be as relevant to them as the people they interact with -- it is a necessity for brands to engage, visualize, communicate, and connect with compelling brand stories. This becomes an integral part of brand identity. In today’s fast-moving digital world, where we all have one-second attention spans, and we are changing channels faster than we ever have, people will cut you off after just a few seconds. You have a limited amount of time to engage them. So if you don’t have something that hits them quickly and resonates, your brand is irrelevant -- and you will become irrelevant fast’.


‘In a digital age, we are much more visual storytellers and story consumers because everyone relates to everyone else on a screen. And once you have a visual identity for your personal brand story, people expect to see it presented in an organized way everywhere they see it’.


Authoritative Sources on the Changing Role of the CMO 2015+ Mega Trends & Issues Impacting CMOs


Kathleen Schaub, VP, CMO Advisory Service Practice IDC “Our theme for 2015-18 is turmoil versus transformation. There’s a lot of activity going on & some people are actually moving forward, but there’s also a lot of spinning & a lot of trial & error. We see that marketing transformation is at a point where marketing people get that they’ve got to take new roads & these roads need new & different kinds of content. They need to start engaging with buyers earlier. They need to use data to personalize. They need technology in order to be able to accomplish that. These fundamental facts about modern marketing everyone gets now. Marketers pretty much all tried to do this & now realize how difficult it is, how inter-related it is & how much has to change in such a fundamental way in order to be able to make this happen. There are a few places here & there that are starting to put things together, but the scary stories are coming back as often as the winning stories.”


Jeff Pundyk, VP, Content Marketing & Strategy The Economist Group

“Where does marketing end & sales begin? Increasingly, the answer is that marketing doesn’t end at all. According to a new study conducted by my colleagues at the Economist Intelligence Unit, the most progressive marketers are taking up the challenge of winning over their customers at any & every point in the customer journey. In a customer-centric world, one where the traditional sales funnel has given way to the 24/7 customer experience, more & more marketers are taking the lead in developing & nurturing customer relationships, wherever & whenever. For the most progressive marketers, the job has moved beyond branding to fostering engagement, an activity that is measured in sales. More than 60% of marketers surveyed said that engagement is realized in customer renewals, retention, & repeat purchases. What’s more, three-quarters of those surveyed see engagement occurring in the middle or late stages of the classic sales funnel, while less than a quarter view engagement in terms of marketing’s traditional role of building brand awareness.”


The 5 Biggest Trends Being Predicted at the End of 2015


2015+ Mega Trends & Issues Impacting CMOs Not in priority order

1. Consumer expectations for immersive, interactive, engaging brand storytelling will take off with virtual-reality storytelling & VR tools (Oculus) allowing audiences to experience an event rather than just read, hear, or watch it.

2. Lead end-to-end customer experience journeys, with customer experience trumping leadership of advertising campaigns. CMOs will be champions of great experiences at every step of their customers’ journeys.

3. CMOs will use multiple data sources to personalize a high-value customer journey - unifying, integrating personalized experiences for individual customer’s by connecting their data from every interaction at each touch point.

4. Marketing organizations will deliver compelling content at all stages of the buyer journey.

5. CMOs will drive budget increases by attributing multi-channel campaign


2015+ Mega Trends & Issues Impacting CMOs Not in priority order

6. CMOs & CIOs will have a shared roadmap for marketing technology.

7. Focus on digital engagement to facilitate smart engagement & the analytics to understand & optimize the customer experience across omni-channels.

8. Build a more holistic marketing function - one that blends brand building, customer experience, enduring relationships, & revenue generation.

9. Mobile will be at the center of all marketing to reach people through their mobile devices - always within arm’s reach & accessed constantly.

10. iBeacons & next gen GPS everywhere - location is the new cookie - a new way to track the movements of consumers across day parts & media types. CMOs invest in mobile/location infrastructure to do contextual targeting.


Let’s vote for & discuss the 2015+ Mega Trends & Issues most important to you

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THANK YOU

Silicon Valley Executive Network CMO Futures Series - The Power of Story 10-27-2015

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Transcript of Silicon Valley Executive Network CMO Futures Series - The Power of Story 10-27-2015