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Some of the World’s Top CMOs Discuss “New Rules of Engagement” at 8th Annual Forbes CMO Summit 2012

  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

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Contact:

Forbes Media
Alexandra Talty, 212-367-4874
atalty@forbes.com
 
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