5 Key Takeaways for the On-The-Go Marketing Executive - Great brands are built from the inside out. If a company's employees don't believe in a brand, the market never will. - CMOs should work with heads of finance and sales to establish and reach meaningful marketing goals. - Marketing requires more quantitative skills than ever before, and the skills that are needed frequently update and change. - One of the fastest ways to change culture is to change incentives. - "There's always push back. The only way to combat the push back is with information, research and data." - Alexandra Morehouse
Bio: Alexandra Morehouse (LinkedIn) joined Banner Healthas chief marketing officer in 2015. Prior to that, she held marketing leadership roles for Kaiser Permanente, AAA, Charles Schwab and American Express.
Show Notes & Quotes: Alexandra's Background & Current Role - (3:00) - Alexandra got her start in financial services, working on data systems for companies like Wells Fargo, Nordstrom, and Apple. - This led to her immersion in the data and technology side of marketing. - Mentioned by Alexandra: Gartner's 2017 prediction that CMOs will spend more on technology than CIOs - Alexandra discussed the turnover in skills on her team, from 80% on the creative end and 20% fulfillment, to very strong on the fulfillment side with 20% creative. - "Advertising is really just the invitation into the door, but you have to have the chips and dip once people arrive." - Alexandra Morehouse
Campaign Success Stories - (8:30) - One of Alexandra's early campaign successes at Kaiser Permanente was their partnership with a young Steph Curry, just before his career, and the Warriors, skyrocketed. - Even before the Warriors partnership, Kaiser had great success with their Thrive campaign, one of Alexandra's best examples of inside out marketing. - The campaign was launched all the way through Kaiser's employee base. They stopped serving junk food and started partnering with local organic farmers, and even sourced hospital food from these local growers. - "Terrific brands are built from the inside out." - Alexandra Morehouse - This led to the Exhale campaign at Banner Health, which started with a comprehensive wellness platform being rolled out from the inside.
The Future for CMOs - (33:00) - Alexandra believes the opportunity for future CMOs is all in measurability. - She learned to become best friends with the CFO and to work with financial teams to develop models they were all accountable to. - Co-creating goals with sales teams allowed everybody to know the exact numbers they were trying to drive. - "Now, with marketing automation, data driven drip and lead management campaigns, and highly measurable digital mobile social campaigns, I can tell you exactly what we're getting as we launch." - Alexandra Morehouse - Alexandra notes that marketing requires more quantitative skills than ever before, and that the skills needed are changing every 6-8 weeks. - "It's like dealing with a mad scientist. You're always trying to figure out the math that's going to put you at the top of the page." - Alexandra Morehouse
Cultural Transformation - (40:00) - At Banner and previous companies, Alexandra has changed incentive compensation to be linked to customer satisfaction at the board level for senior leadership on down. - "If you change how people are paid, you change behaviors very quickly." - Alexandra Morehouse - She has worked on changing employee culture to focus on making the customers happier, not just "quality", which should be table stakes in the healthcare industry. - "There's always push back. The only way to combat the push back is with information, research and data." - Alexandra Morehouse - In every job she has had, Alexandra says the real job has been cultural transformation, which is always easiest if you have an open conversation about how to make things better for the customers.
Pardot Lightning Round - (1:15:00) - Favorite app: Spotify - Favorite Bay area getaway: Point Reyes - Favorite podcast: The Dropout - Ad campaign most envious of: Not Everything Makes the Cut - Amazon Superbowl LIII commercial - Best advice for a first time CMO: Get to know every detail of the finances, and really get to know your technology stack and where customer data is living.
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