Cannes Lions 2015③ Getting to the CMO's True Thoughts "Wake up with The Economist"
Daniel Franklin
As data and technology gain greater prominence in marketing, advertisers' approach to creativity is also evolving. The number of advertiser attendees at Cannes continues to rise, now reaching 3,000—a quarter of the total. Chief Marketing Officers (CMOs) and other executives are also increasingly making the trip to Cannes.
The http://www.economist.com/ made its Cannes debut this year with the session "Wake up with The Economist." Leveraging the appeal of this prestigious media outlet with 171 years of history, it gathered 15 marketing executives, mainly from global companies, who are the focus of industry attention, three each morning for five days. We asked Daniel Franklin, Executive Editor of The Economist, who served as moderator, about the discussions on the challenges facing the industry and themselves, and the challenges of creativity.
This is the first year The Economist has hosted a program at Cannes. Why did you decide to participate in Cannes?
There are two reasons. First, to understand the dynamics of Cannes. And second, conversely, we wanted people to understand The Economist. What everyone knows is The Economist as a weekly business magazine. But we are also working on many innovative projects. For example, our smartphone app "The Economist Espresso" ( http://www.economist.com/digital ), which delivers news every morning. We launched that last November. We also produce documentary films, and this June we launched "The Economist Film" ( http://www.economist.com/films ). We wanted people to know about these initiatives and to raise brand awareness.
The Economist
Executive Editor
Daniel Franklin
Specializing in business and politics, he has been a reporter for The Economist since 1983. He has covered events ranging from the collapse of the Soviet Union to the signing of the Maastricht Treaty and the Clinton administration. He has held his current position since 2006. He is also responsible for editing the magazine's annual special feature "The World in..." (This Year's Outlook), which is published in more than 40 countries around the world.
―And that's where the idea for Wake up with The Economist comes in.
Yes. Similar to The Economist Espresso, I wanted to provide stimulating content to start the day. Every morning on the beach in Cannes, we invited three CMOs as guests to hear their thoughts on the challenge of creativity, Cannes' main theme. In today's rapidly changing environment driven by technological evolution, we were able to hear open and candid opinions about how they tackle the problems they face, all within a wonderful setting and relaxed atmosphere. The sessions filled to capacity every day, with some pretty probing questions emerging, and I believe they became quite popular. Given the lineup of guests, that's hardly surprising. We featured global giants like Dell, Heineken, Hershey, Mars, Mastercard, McDonald's, MillerCoors, Mondelez, Nestlé, G, and Walt Disney, alongside revolutionary companies like Airbnb, the U.S. home-sharing platform.
―Literally, the world's leading CMOs gathered. What were the common challenges they shared?
There were several. First and foremost, the sheer speed of change—keeping pace is incredibly tough. Everyone unanimously expressed this (laughs). While challenging, they agreed digital must be central to marketing. That said, they emphasized something more important than data or technology: consumer insight. Great campaigns always stem from excellent insight.
Then, securing creative talent emerged as a common challenge. Simultaneously, they emphasized the need to break down organizational barriers that stifle creativity. These barriers were recognized as spanning various layers—from conservative mindsets and approaches to bureaucratic organizational structures and procedures. When asked by an attendee, "If you could go back to your former company and change something, what would it be?", a CMO who had previously worked at a large corporation and successfully launched a new venture after going independent answered, "I'd change the layers of bureaucratic systems that hinder creativity." It's quite symbolic.
―How do you feel CMOs are responding to these challenges?
The challenges troubling CMOs are indeed evolving and expanding, but I got the impression that in many cases, they can find a compromise. The problem is finding the right balance. For example, while leveraging vast amounts of data is crucial, we must be careful it doesn't become a "hammer that stifles creativity." Boldness is important, but it mustn't be foolish. Strengthening global scale advantages while localizing is also vital. At the same time, it became clear that we must never forget the fundamentals. Those fundamentals are nothing less than core insights, ideas that resonate with consumers, and brand consistency.
―I imagine many memorable quotes emerged during the discussions. Could you share the ones that particularly inspired you?
There were many, but let me share two. First, Matt Beispeil, Senior Director at McDonald's, said, "If you’re safe, you’re dead." Progress is impossible without courage to act, not excessive caution. However, we must never lose sight of the brand. It's crucial to achieve "brand fit" while executing "brand stretch." I deeply resonated with this. The other is from Mark Pritchard, Chief Brand Officer at P&G: "Thanks to technology opening so many doors, we are in a golden age of marketing." This highlights the recognition that while huge opportunities exist right before us, leveraging them is far from easy due to rapid environmental change and fierce competition. I felt this truly captured the essence of the entire discussion.
―At the session's end, participants gathered around the panelists, and the discussions were even hotter than the Cannes sun. Finally, regarding this first attempt in Cannes, could you share your impressions?
We started this as a trial and error exercise—testing whether it would work and learning from the reactions. In Cannes, we truly felt the rapidly evolving media landscape. The major takeaway was confirming that our challenge—to deliver thought-provoking content in diverse formats—aligns with this landscape. We also feel it yielded results in terms of The Economist's brand recognition. It was a very good experiment.
―We look forward to an even more powerful session next year. Thank you.
Here are some memorable quotes from the panelists.
＊Articles about Wake Up with The Economist are published on the Economist Group's marketing blog "Lean back" ( http://www.economistgroup.com/leanback/ ).
Pete Blackshaw, Global Head of Digital & Social Media, Nestlé S.A.
"The consumer journey is the new heart and soul of marketing. The CMO of the future plays a very important role in defining that."
Engagement with consumers is the new core element of marketing. The CMO of the future bears the crucial responsibility of defining it.
Bruce McColl, Chief Marketing Officer, Mars
“The way the world shops today is changing at an unprecedented rate. Especially for FMCG, the lines between sales and marketing have never been more blurred.”
The way people shop worldwide is changing at an unprecedented pace. Particularly in the FMCG industry, the boundaries between sales and marketing have never been more blurred.
Jonathan Mildenhall, CMO, Airbnb
“Global brands are emerging from young organizations because older organizations are held back by political friction and legacy issues that prevent ideas from moving forward.”
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Laurent Faracci, SVP, Global Marketing and Digital Excellence, RB
“Who is the boss? The consumer is the boss, and the consumer is local.”
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Anna Hill, Chief Marketing Officer, The Walt Disney Company UK and Ireland
“Data has helped us show up with the right solutions for people. But how you build the resources to interpret data is an enormous challenge.”
Data has been tremendously helpful in providing the solutions people seek, but building the resources to analyze and interpret that data is an enormous challenge.
Gannon Jones, Head of Brand Marketing, Miller Coors LLC
“The beer industry has spent a lot of time on the broadcast side of the business – each year, that is becoming less and less relevant.”
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Allison Dew, Vice President, Client Solutions Marketing, Dell
“We are still in the game of changing people’s minds. Without a good idea we will never do that – regardless of the technology or media.”
We are still in the game of changing people’s minds. Without a good idea we will never do that – regardless of the technology or media.
D. Michael Wege, Senior Vice President, Chief Growth and Marketing Officer, Hershey
“Ideas flourish when the mission is clear, well scoped, and not constantly changing direction.”
Ideas flourish when the mission is clear, well scoped, and not constantly changing direction.
Chris Miller, DVP Global Brand Strategy and Innovation, Abbott
“Data can remove us from the human connectiveness that is essential to marketing.”
Data can remove us from the human connectiveness that is essential to marketing.
Marc Pritchard, Chief Brand Officer, P&G
“I have a very simple test. Does it make my spine tingle? With #LikeAGirl, it was tingling all over.”
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Soren Hagh, Executive Director Global Marketing, Heineken
“Keep clearly in mind that the basics of marketing are not going to change, but realise that everything we know about consumers will change. Unless we get under the skin of what’s changing, we will lose.”
Keep firmly in mind that the fundamentals of marketing won't change, but recognize that our knowledge about consumers will. If we can't get to the root of what's changing, we'll lose the competition.
Dana Anderson, Senior Vice President and Chief Marketing Officer, Mondelez International
“If you don’t like the rollercoaster, don’t be in marketing.”
If you dislike rollercoasters, marketing isn't for you.
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Author
Daniel Franklin
Specializing in business and politics, he has worked as a reporter for The Economist since 1983. He covered events including the collapse of the Soviet Union, the signing of the Maastricht Treaty, and the Clinton administration. He has held his current position since 2006. He also edits the magazine's annual special feature "The World in..." (This Year's Outlook), published in over 40 countries worldwide.