Some of the World’s Top CMOs Discuss “New Rules of Engagement” at 8th Annual Forbes CMO Summit 2012 Cultivating brand love, solidifying trust as core to customer relationships, and targeting individuals emerged as key themes Business Wire NEW YORK -- November 14, 2012 Chief Marketing Officers (CMOs) from such companies as Subway, Target, PepsiCo, IBM, Xerox, Amway, LG, American Family Insurance, Cigna, Alfred Dunhill among others, gathered in mid-November at the Ritz-Carlton in Naples, Fla., to share best practices, debate solutions and raise questions about a topic pertinent to all marketers – consumer or business: building brand relationships that last in an era of instant communication. The Forbes CMO Summit was produced in partnership with gyro, advisors to Forbes for its CMO practice; presenting sponsor Rocket Fuel and supporting sponsors Sharethrough and Turn. “We were honored to host some of the world’s most influential and insightful CMOs as part of our 8^th annual CMO Summit,” said Forbes Media Group Publisher & Chief Revenue Officer Meredith Levien. “This is an extraordinary time to be a CMO. In the eight years that we’ve held this summit, we’ve seen the pendulum swing from placing importance on art to emphasis on all-science. And, now, we’ve finally found a true balance where marketers can be both scientists and storytellers. CMOs are more empowered today to grow their businesses and brands – and have become the most important executives in the C-suite after the CEO.” Cultivating brand love, solidifying trust as core to customer relationships, and targeting individuals –as opposed to audiences – were key topics that emerged during the summit’s panels, which featured The New Rules of Engagement: Bridging the Chasm Between How CMOs and Their Customers Define Brand Relationships. “If you want to have great engagement, you have to fundamentally have trust,” said Target CMO Jeff Jones. Other panels included Thought Leadership Marketing: Content Rules, Building the Marketing Organization of the Future; Closing the Loop: From Brand Conversations to Transactions; Defining Your Return on Social; and Geek Chic: Big Data is the New Black.” Salman Amin, SVP and global CMO at PepsiCo, explained in the keynote interview how a massive company that operates in 200 countries and territories worldwide is able to cultivate brand relationships with an audience of one, empowering consumers with ownership of brands. “Part of engaging with the individual, building brand engagement with a single consumer, is giving them ownership of the brand,” said Mr. Amin. “We’ve worked to do that with our various crowd sourcing initiatives, such as the global effort, ‘Do Us A Flavor,’ for our Lay’s brand.” In other discussions, Forbes and CMO attendees examined the need to view the relationship with consumers holistically, combining technology, the science of marketing, social strategy and creativity to break through the oversaturated and fragmented media environment. "It's become critical to make paid, owned and earned media work together -- a need that requires CMOs to rethink marketing organizations and talent to deliver an integrated approach,” said Jim Speros, EVP and CMO for Fidelity." The importance of brands as storytellers also emerged as a key theme reinforcing brands’ needs to create a position of thought leadership. In a digital and social world of constant connectedness, attendees noted that the changing marketplace increasingly placed value on art and creativity as well as big data and the science of marketing in equal measure. For more information on the CMO Summit, please visit: http://www.forbes.com/sites/forbescmosummit/2012/11/08/cmos-talk-engagement-at-8th-annual-forbes-cmo-summit-this-week/?ss=cmo-network About Forbes Media Forbes Media LLC, publisher of Forbes magazine and forbes.com, is an authoritative source of news and information on business, investing, technology, entrepreneurship, leadership and affluent lifestyles. Forbes.com, a leading business website, currently reaches 38 million monthly unique visitors, and Forbes magazine, Forbes Asia and Forbes Europe attract a global audience of 5 million readers. The Company also publishes ForbesLife magazine, as well as 24 licensed local editions around the world. Contact: Forbes Media Alexandra Talty, 212-367-4874 firstname.lastname@example.org
Some of the World’s Top CMOs Discuss “New Rules of Engagement” at 8th Annual Forbes CMO Summit 2012
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