According to Alex Weinstein (LinkedIn | Twitter), SVP of Growth at Grubhub, standout marketers all have something in common: A focus on ‘the bigger thing,’ or in other words, the core objectives and principles of the business.
On this episode of Marketing Trends, Alex tells us how to achieve this focus, and what kinds of impact it drives. He also talks about incrementality, aligning incentives, and much more.
3 Key Takeaways:
– Marketers need to consider incrementality, or what would have happened had they not taken a given action.
– Great marketing leaders need to create a culture where failure in the pursuit of experimentation is tolerated.
– For marketers to be effective, they can’t just be concerned about their own budgets. They need to be focused on ‘the bigger thing.’
“Growth means marketing and product and whatever it is that you need to do to get your business to expand.”
“Incrementality is this idea of ‘what would have happened anyway if I didn’t do any marketing activities at all?’”
“If you’re treating your customers as a homogenous herd that is behaving in the same exact way, it’s frankly disrespectful to them and it isn’t good business.”
“If you create a habit in your consumers to expect a promotion on a certain schedule, not only are you delaying their transactions, but you’re ultimately creating a less profitable business.”
“Creativity can be made so much better with the numbers.”
“It’s okay to have an experiment that doesn’t work. If you are able to create a culture where true experimentation is possible and people’s egos aren’t hurt, if their experiment doesn’t work, then you truly can learn and you can spin on a dime.”
“I’m a big believer in setting a culture that allows people on the ground to actually care about ‘the bigger thing.’ When the bigger thing is about learning and overall company success, you’re able to make things work.”
Alex Weinstein is the senior vice president of growth at Grubhub, and is responsible for the consumer business of the nation’s leading online food ordering and delivery marketplace. Alex’s team drives the expansion of the diner base and their engagement with the platform via online and offline channels, using marketing and product techniques that bring together art and science. In the 12 months ending June 2019, Grubhub sold $6 billion worth of food and has grown revenue 41% year-over-year. Prior to Grubhub, he was the director of marketing technologies at eBay, leading personalization and CRM efforts, including engineering, product management, and marketing. Prior to eBay, Alex led the product development team at Wetpaint, a machine learning startup in the social media space. He holds a bachelor’s degree in computer science from UCLA.
Marketing Trends is brought to you by our friends at Salesforce Pardot, B2B marketing automation on the world’s #1 CRM. Are you ready to take your B2B marketing to new heights? With Pardot, marketers can find and nurture leads, close more deals, and maximize ROI. Learn more by heading to www.pardot.com/podcast.