Today’s episode of marketing trends features an interview with Ty Shay (Twitter: @tyshay), the global CMO of Norton Lifelock. Ty is a Silicon Valley veteran who has served as CMO of multiple great tech companies including Hotwire and SquareTrade, and was the founder and CEO of FanIQ, a social sports gaming site. He is also on the board of directors of the ad council.
On this episode, Ty and Ian discuss how to create a campaign that will stick in people’s minds, how marketers misunderstand their basic function, and why Ty thinks you should turn off your marketing.
How Ty got Started in Marketing
- He was an investment banker who really hated it and wanted to be an entrepreneur.
- He graduated from the Stanford Graduate School of Business, and wanted to specialize, wanted to have a skill or a craft.
- Ty cuts his teeth at Procter & Gamble and then gets in at the very start of Hotwire.com.
Accountability and Thinking Like an Owner - (6:09)
- Marketing at a Private-Equity-funded company (Hotwire) forced Ty to be more accountable and efficient. He had to grow both fast and cheap.
- The difference it makes to have direct customer data as opposed to going through big box retailers like at Procter and Gamble.
Becoming a Founder/CMO - (14:02)
- How becoming a founder taught Ty humility and what he didn’t know.
- “I had the HIPPOW style of management (Highest Paid Person’s Opinion Wins). I was making every decision, which totally wasn’t scalable. At that point I really realized the value of hiring great people and figuring out how to empower them.”
- “I think there’s perverse thing when you’re the marketer, you feel like it’s your job to argue for bigger budgets or to argue to be more aggressive. I think the attitude that generates more trust is someone who’s more impartial and tries to understand the goals of the business.”
- Test your marketing by turning it off.
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