Transcript
WEBVTT
1
00:00:00.140 --> 00:00:00.350
mhm
2
00:00:06.140 --> 00:00:10.090
Welcome back to be to be growth. I'm
Logan Lyles with sweet fish media. I'm
3
00:00:10.090 --> 00:00:15.110
joined today by Mark stoops. He is
attack CMO turned software ceo. He's
4
00:00:15.110 --> 00:00:20.480
currently the chairman and Ceo at proof
analytics. He's also a podcast host of
5
00:00:20.490 --> 00:00:25.120
the Accelerating Value show. Mark,
Welcome to the show. It is fantastic to
6
00:00:25.120 --> 00:00:28.330
have you here today sir. It's great to
be here. Thank you so much for having
7
00:00:28.330 --> 00:00:33.770
me. Absolutely. Well we're going to
we're going to get more into your
8
00:00:33.770 --> 00:00:38.160
background as we go through the
conversation today because really what
9
00:00:38.160 --> 00:00:43.480
we're talking about today is that CMos
and marketing leaders really need a
10
00:00:43.480 --> 00:00:47.230
shift in their perspective. Um
Oftentimes that they're, they're not
11
00:00:47.240 --> 00:00:52.810
able to get that outside view of what
their role really is and how they can
12
00:00:52.810 --> 00:00:57.500
best serve their Ceo and best served
their organizations. So tell us a
13
00:00:57.500 --> 00:01:02.740
little bit about how you came to view
the CMO and marketing leadership roles
14
00:01:02.750 --> 00:01:09.940
differently over, you know, especially
uh recent years in your career. I got
15
00:01:09.950 --> 00:01:18.590
beat up quite a bit. Right. Um, I think
that if we go back safe to like 2004,
16
00:01:18.590 --> 00:01:28.230
so I'm, I'm, I'm an hp. I'm leading the
role in one of the four big business
17
00:01:28.230 --> 00:01:33.620
units. And I'm working a lot with Mark
Hurd, who was the Ceo of HP at that
18
00:01:33.620 --> 00:01:38.410
time, went on to be the CO Ceo of
oracle before. Unfortunately he passed
19
00:01:38.410 --> 00:01:47.700
away. Mark was a former sales guy, very
customer facing Ceo and he would sit
20
00:01:47.700 --> 00:01:52.280
there and say, you know, I probably
have more anecdotal evidence of the
21
00:01:52.290 --> 00:01:58.030
business impact that you're creating
than you do, but that's not good enough
22
00:01:58.040 --> 00:02:03.400
if you're going to ask me for a lot
more money or if you're going to ask me
23
00:02:03.400 --> 00:02:08.990
to protect you from a budget cut, which
at HP meant a lot of times at board
24
00:02:08.990 --> 00:02:14.780
level conversation. He's like, I'm not,
I'm not doing that without some
25
00:02:14.780 --> 00:02:22.110
analytics without some proof, small p
proof. And you know, I I uh I remember
26
00:02:22.110 --> 00:02:27.120
being very frustrated about that. He
was also, you know, I I don't really
27
00:02:27.120 --> 00:02:31.430
mean this badly. I mean I I think it
was inappropriate, but nevertheless
28
00:02:31.440 --> 00:02:36.980
there he could really get in your face.
I mean like literally in your face and
29
00:02:36.980 --> 00:02:41.120
there were a couple of times when he
backed me up against a wall physically,
30
00:02:41.130 --> 00:02:47.390
you know, because he was really hot
about this issue and and you know, it
31
00:02:47.390 --> 00:02:53.240
took me a while to kind of come around,
but I what I really realized is that
32
00:02:53.240 --> 00:02:59.000
just like anything else, we don't get
to define our own value, right? We may
33
00:02:59.000 --> 00:03:05.320
actually really truly be creating a lot
of value. But if we're not able to
34
00:03:05.320 --> 00:03:11.850
prove it, if we're not able to help
people see it clearly, then it doesn't
35
00:03:11.860 --> 00:03:17.230
exist in one sense, right? And so
that's where I really started down a
36
00:03:17.230 --> 00:03:21.860
different path and I started saying,
okay, what do I need to do to earn this
37
00:03:21.860 --> 00:03:27.860
person's trust? Not only in my
abilities, but in my perspective and in
38
00:03:28.640 --> 00:03:34.730
how it how they ultimately come on
board with what I'm doing right, I mean,
39
00:03:34.740 --> 00:03:39.500
it's not unlike a company that says,
okay, we're gonna give the market,
40
00:03:39.500 --> 00:03:42.810
we're gonna give our investors annual
guidance and then we're gonna come
41
00:03:42.810 --> 00:03:46.660
along every quarter and we're going to
give a report out against that guidance.
42
00:03:47.140 --> 00:03:52.680
That's ultimately what makes the street
trust you or not trust you in terms of
43
00:03:52.680 --> 00:03:58.250
your execution. And it is exactly the
same. Not only for CMos, but any part
44
00:03:58.250 --> 00:04:03.030
of the business. That's a good analogy.
And I think, you know, you hit on the
45
00:04:03.040 --> 00:04:07.220
premise there, that just because your
trusted and respected, you were you
46
00:04:07.220 --> 00:04:11.600
were trusted as a CMO at that point,
you it's not that you had a horrible
47
00:04:11.600 --> 00:04:15.060
relationship even though it physically
got in your face at times and got upset,
48
00:04:15.070 --> 00:04:20.519
you know, when you were asking for more
budget, but disconnecting that from, I
49
00:04:20.519 --> 00:04:25.690
need to be able to show the value that
I'm driving. So I want to point that
50
00:04:25.690 --> 00:04:30.600
out as we talk about, you know, that
pivotal point for you, Mark what really
51
00:04:30.610 --> 00:04:35.470
what really changed from there. So it
was it was specifically there was
52
00:04:35.480 --> 00:04:39.330
there's one situation you shared with
me where you were asking for an
53
00:04:39.330 --> 00:04:43.600
increase to the budget, it really got
heated and then you you know, you took
54
00:04:43.600 --> 00:04:49.570
that to reflect on, okay, am I really
making the case here and showing my
55
00:04:49.570 --> 00:04:55.560
value, proving my value um when I'm
coming into these budget conversations,
56
00:04:55.570 --> 00:04:59.990
is that right? That's kind of the
turning point there. And if I'm, if I'm
57
00:04:59.990 --> 00:05:03.220
right there, what we're kind of the
next steps for you and your evolution
58
00:05:03.220 --> 00:05:06.580
as a marketing leader coming out of
that. I mean, at that point I think,
59
00:05:06.580 --> 00:05:10.460
you know, I was probably pretty much
just like any other marketer that's
60
00:05:10.460 --> 00:05:15.890
ever lived right in terms of my
perspective on stuff. You know, I was I
61
00:05:15.890 --> 00:05:21.030
defined my excellence uh in many ways
based on my team's ability to
62
00:05:21.040 --> 00:05:27.920
orchestrate campaigns and to do that
flawlessly. Keeping, keeping in mind,
63
00:05:27.920 --> 00:05:32.800
you know, this is like 15, 16, 17 years
ago, but orchestration has always been
64
00:05:32.800 --> 00:05:38.420
really important to marketers, it's
important today and it's I'm not saying
65
00:05:38.420 --> 00:05:42.840
it's not important. What I'm saying is
that that's all you've got, you've got
66
00:05:42.840 --> 00:05:47.630
a problem. And what I also started to
really realize is I started really
67
00:05:47.630 --> 00:05:55.430
paying attention to how much politics I
was having to play with the C suite
68
00:05:56.140 --> 00:06:00.040
because one of the things I started
kind of figuring out, I had, I had a
69
00:06:00.040 --> 00:06:05.790
coach, great coach at that time is
there's an inverse relationship between
70
00:06:05.790 --> 00:06:11.810
how much politics you have to play in
order to make people happy and all that
71
00:06:11.810 --> 00:06:16.440
kind of stuff as a CMO and the amount
of data or analytics that you can bring
72
00:06:16.440 --> 00:06:22.480
to the table. So the more proof, small
p proof that you have, the less you
73
00:06:22.480 --> 00:06:26.410
have to kiss somebody's ass. That's
really what it comes down to. And so I
74
00:06:26.410 --> 00:06:33.920
started really kind of rocking that um,
with deeper and deeper and deeper
75
00:06:33.920 --> 00:06:40.190
levels. Um, and and then at the same
time I was I was being schooled
76
00:06:40.200 --> 00:06:47.280
literally right in and how analytics
really works right. like so if you
77
00:06:47.280 --> 00:06:51.750
wanted to do this, how would you do it?
And then what are the obstacles and
78
00:06:51.750 --> 00:06:54.800
what are the advantages and what can
you do? And what can you, what we
79
00:06:54.800 --> 00:07:01.460
struggle with and all that kind of
stuff. and the ensuing 10, 15 years was
80
00:07:01.840 --> 00:07:06.850
all about working that out
operationally, which is actually the
81
00:07:06.860 --> 00:07:11.570
big hurdle for a number of reasons. So
you mentioned there are a lot of
82
00:07:11.570 --> 00:07:15.670
marketing leaders, mark that, look at,
okay, my ability to pull off great
83
00:07:15.680 --> 00:07:19.520
campaigns and as you mentioned over the
last, you know, several years, that's
84
00:07:19.520 --> 00:07:23.470
changed in what's doable and what it
takes and all those sorts of things and
85
00:07:23.470 --> 00:07:27.760
the, the tech is different. But um
would you say that even with the
86
00:07:27.760 --> 00:07:34.150
advanced technology and marketers being
able to do more with less, they still
87
00:07:34.150 --> 00:07:38.680
kinda have that old mindset of man. If
I'm pulling off campaigns and
88
00:07:38.690 --> 00:07:43.570
orchestration is happening, then I'm
successful. You think that's still in a
89
00:07:43.570 --> 00:07:48.620
lot of marketers minds front and center
today? Yeah, I mean I see it a lot
90
00:07:48.630 --> 00:07:54.650
still to this day. I think also if you
are wearing the badge of honor, wearing
91
00:07:54.660 --> 00:07:59.330
this phrase right, doing more with less
as a badge of honor, with all the
92
00:07:59.330 --> 00:08:03.450
respect in the world, you have missed
the point. You're supposed to be doing
93
00:08:03.450 --> 00:08:05.650
less with less and more with more.
94
00:08:06.740 --> 00:08:08.360
Um and
95
00:08:09.640 --> 00:08:16.360
I don't know a business leader
personally who when, when uh presented
96
00:08:16.360 --> 00:08:22.290
with the proof, that's something
whatever that is, is accelerating their
97
00:08:22.290 --> 00:08:25.770
business, growing their business,
making their business better in
98
00:08:25.770 --> 00:08:31.350
meaningful ways that they don't want to
invest more in that thing. I mean, they
99
00:08:31.360 --> 00:08:35.059
would be crazy not to. Now, there is a
point, right? There's an S curve,
100
00:08:35.059 --> 00:08:36.559
there's an optimization curve.
101
00:08:37.640 --> 00:08:41.710
And you know, at some point you you hit
the where the point of diminishing
102
00:08:41.710 --> 00:08:47.910
returns kicks in, right? But most, most
marketing teams are very far from that
103
00:08:47.910 --> 00:08:55.730
point. So if you can deliver the proof
that you are really contributing and
104
00:08:55.730 --> 00:09:00.420
predictably say, and if you give me
more, I can do more and I can bring you
105
00:09:00.420 --> 00:09:05.890
further up this curve assuming that
your company can afford it, they're
106
00:09:05.890 --> 00:09:11.910
going to do it. And so I think a lot of
cmos, I was certainly in this, in this
107
00:09:11.920 --> 00:09:17.390
uh place, big time. I had been beaten
around the head and shoulders on this
108
00:09:17.400 --> 00:09:22.700
issue for so long. I had, you know, the
budget issue, the budget cuts, they're
109
00:09:22.700 --> 00:09:29.960
very rare and small budget increases.
That I lost sight of the fact that this
110
00:09:29.960 --> 00:09:35.350
is true, right? That people want to
invest more in things that are going to
111
00:09:35.350 --> 00:09:40.460
get them more and what they want to
prove it. Yeah, absolutely. So, you
112
00:09:40.460 --> 00:09:44.250
know, that obviously set you on, well
maybe not obviously, but you and I know
113
00:09:44.250 --> 00:09:48.050
each other and I know that that you
know set you off on the path towards
114
00:09:48.050 --> 00:09:53.480
what you guys knew. And now at proof
analytics, tell us a little bit mark
115
00:09:53.480 --> 00:09:58.200
about what did you start to do? So you
have this shift and said I really need
116
00:09:58.200 --> 00:10:03.050
to be able to prove my impact
historically and even better if I can
117
00:10:03.240 --> 00:10:09.650
more confidently forecast and predict
my impact with greater budget, then I'm
118
00:10:09.650 --> 00:10:14.460
really going to be in a much better
position of not being looked down on as
119
00:10:14.460 --> 00:10:20.040
a marketing leader, but actually being
looked to for advice, look looked to
120
00:10:20.040 --> 00:10:24.690
for solutions. Right? So how did you
start to make that shift, you know, at
121
00:10:24.690 --> 00:10:28.400
the next stop in your career? What were
some of the things that you did
122
00:10:28.400 --> 00:10:33.360
differently after you made this mental
shift? Well, I mean, I have to say that
123
00:10:33.360 --> 00:10:38.800
initially it wasn't the most fun I've
ever had, right? But but I I may I
124
00:10:38.800 --> 00:10:43.140
started to make it all about the
analytics. I was I was really pretty
125
00:10:43.140 --> 00:10:51.180
rigid for a while because I could tell
that while a lot of C suite people and
126
00:10:51.180 --> 00:10:56.630
other people, other business leaders
liked me. I thought I was really good
127
00:10:56.640 --> 00:11:03.920
at what I did, right? That wasn't the
same as trusting me. I don't mean
128
00:11:03.920 --> 00:11:10.010
trusting me as a person. I mean
trusting me that, that this is, you
129
00:11:10.010 --> 00:11:12.750
know, that I'm maximizing value, right?
That's really what I mean.
130
00:11:13.940 --> 00:11:19.080
So it really kind of hurt my feelings
to be perfectly honest with you. And
131
00:11:19.080 --> 00:11:26.500
then it kind of pissed me off. And so I
think a lot of the last 15 years for me
132
00:11:26.590 --> 00:11:28.060
has been a
133
00:11:29.240 --> 00:11:37.580
quest for that thing, right? That trust
that confidence, right? And the
134
00:11:37.580 --> 00:11:43.650
awareness of what marketing um could
really do that that for the rest of it
135
00:11:43.650 --> 00:11:47.610
was sort of like a given, right? I mean,
I could do the rest of it. I could
136
00:11:47.610 --> 00:11:53.680
build teams that did the rest of it,
but it was so I believe that out of all
137
00:11:53.680 --> 00:11:59.860
the jobs in a modern organization that
marketing is right up there at the top
138
00:12:00.940 --> 00:12:07.250
in terms of being awesome and yet it
has the longest running feud with the
139
00:12:07.250 --> 00:12:13.570
business that that exists. I mean it's
it's so well known and so lingering
140
00:12:13.580 --> 00:12:20.170
that there are huge punch lines between
business leaders about it. Right. Right.
141
00:12:20.180 --> 00:12:24.790
So, I mean, what you're saying is
you're kind of tag line right of tax
142
00:12:24.790 --> 00:12:30.350
CMO turned software ceo doesn't mean
that you're anti marketing. Not at all.
143
00:12:30.740 --> 00:12:36.180
Not at all. I I um I mean look, let me
just I'll be really candid about it.
144
00:12:36.190 --> 00:12:43.920
Right. I mean if if proof analytics was
mainly about if if a customer brought
145
00:12:43.920 --> 00:12:50.700
in proof analytics as a tool and the
most common outcome was that it showed
146
00:12:50.700 --> 00:12:55.240
that marketing was a bunch of bunk is
not only would that not be a really
147
00:12:55.240 --> 00:13:01.730
going concern is business, but that
would really suck. Right? I mean that's
148
00:13:01.730 --> 00:13:06.910
not fun. The cool part about it is and
and if there's a headline here, the
149
00:13:06.910 --> 00:13:11.870
headline is this In the absence of
analytics for the most part outside of
150
00:13:11.870 --> 00:13:17.550
CPG and retail and stuff like that.
Most marketers have correctly intuited
151
00:13:17.560 --> 00:13:21.900
what works. Right. So we're talking
about kind of like you go in there,
152
00:13:21.900 --> 00:13:27.730
it's kind of a classic 80, 20 split. So
20% of its not really performing or its
153
00:13:27.730 --> 00:13:31.960
underperforming or whatever. And you
can identify it and you can fix it
154
00:13:32.340 --> 00:13:38.240
Right? And you get to a point where
you're rapidly optimized not only among
155
00:13:38.240 --> 00:13:42.560
your marketing envelope, but against
whatever market conditions you are
156
00:13:42.560 --> 00:13:48.460
having to deal with. Right? And if we
saw anything out of 2020, it's that
157
00:13:48.460 --> 00:13:54.950
past is not prologue. It's not and data
is all about the past.
158
00:13:56.040 --> 00:14:00.570
Right, analytics is what takes the data
and runs projections that then you can
159
00:14:00.570 --> 00:14:06.900
confirm as the future becomes the
present, Right? So that is that's
160
00:14:06.900 --> 00:14:12.280
really what this is all about. And you
know, I have it's kind of interesting
161
00:14:12.280 --> 00:14:12.750
because
162
00:14:14.040 --> 00:14:18.580
when we go in and we talked to finance,
for example, the finance guys always
163
00:14:18.580 --> 00:14:22.920
get what we do. They always get the
product immediately, right? Because
164
00:14:22.920 --> 00:14:26.790
they're sort of trained to do that. And
then you can kind of see this little
165
00:14:26.790 --> 00:14:30.950
glimmer in their eye, right there like
sitting there going, oh, this is gonna
166
00:14:30.950 --> 00:14:37.380
be so great, right? We're gonna finally
put the screws to marketing, right? And,
167
00:14:37.390 --> 00:14:41.450
and then the and the marketers are not
real happy about this. And then the
168
00:14:41.450 --> 00:14:46.570
first analytics rollout and the mark,
the finance team is sitting there kind
169
00:14:46.570 --> 00:14:51.560
of going, huh, This is actually a lot
better than I thought it was going to
170
00:14:51.560 --> 00:14:56.260
be. What's the, what's the percentage
breakdown? Is it half the time finances
171
00:14:56.270 --> 00:15:02.160
is surprised and marketing is like,
look, see or is it 90% of like what's
172
00:15:02.160 --> 00:15:07.550
the breakdown that it goes this way? I
would say, I would say it's, you know,
173
00:15:07.560 --> 00:15:12.670
again, the exception would be things
like e commerce and anything where
174
00:15:12.670 --> 00:15:18.900
marketing is revenue, Right? So that
would be a separate situation. But
175
00:15:18.910 --> 00:15:24.020
anything else, I would say it's damn
near 100% right where everyone is
176
00:15:24.020 --> 00:15:29.590
shocked. And and if the truth is, you
know, if we can just kind of be
177
00:15:29.590 --> 00:15:30.750
truthful for a second
178
00:15:32.040 --> 00:15:36.280
that marketers are shocked to, well,
that's what I almost said something.
179
00:15:36.280 --> 00:15:39.690
And you know about, you know, the
marketers either breathing a sigh of
180
00:15:39.690 --> 00:15:45.160
relief or I think I said, you know,
they see. But I almost hesitated. Like
181
00:15:45.170 --> 00:15:48.360
that's probably not necessarily what
they're saying, even if they are
182
00:15:48.370 --> 00:15:52.740
breathing a sigh of relief and they're
excited about what they see. So they're
183
00:15:52.740 --> 00:15:56.410
a little bit surprised as well, at
least in your experience going through
184
00:15:56.410 --> 00:16:00.410
this process of peeling back the
curtain for financial market. Well, if
185
00:16:00.410 --> 00:16:08.200
they, so if they, so I think that they
wouldn't be as freaked out sometimes if
186
00:16:08.200 --> 00:16:15.670
they were confident. So uh one of the
best video calls I ever got right was
187
00:16:15.670 --> 00:16:24.940
from a CMO uh really great lady who
calls me up on facetime, right? And
188
00:16:24.950 --> 00:16:30.160
she's sitting in her office smoking a
cigar. No kidding, right. I mean for
189
00:16:30.160 --> 00:16:36.540
real, she's smoking a cigar and she's
celebrating the first crank out of the
190
00:16:36.540 --> 00:16:42.160
analytics from proof. And, and she's
like, you know, um,
191
00:16:43.240 --> 00:16:50.510
bottom line is, I didn't know for sure,
but she goes, I'm so excited that in
192
00:16:50.510 --> 00:16:56.080
the absence of all of this, that you've
brought to the table that we got it as
193
00:16:56.080 --> 00:17:01.800
right as we did, right? And she was,
she was probably in the upper echelon,
194
00:17:01.800 --> 00:17:07.790
right? She was kind of like more like
85, 15, almost 90 10 in terms of
195
00:17:07.800 --> 00:17:13.579
getting her spinned correct. Right? And
so I just think that that's that's one
196
00:17:13.579 --> 00:17:17.390
of my favorite parts of this whole
thing. Right. And I think that a lot of
197
00:17:17.400 --> 00:17:23.420
people see analytics and they see the C
suite as a bunch of judges in black
198
00:17:23.420 --> 00:17:31.140
robes, right? Who are basically saying
you suck. Right. And it doesn't, I'm
199
00:17:31.140 --> 00:17:35.770
here to tell you it doesn't have to be
that way. I mean I, my last big CMO
200
00:17:35.770 --> 00:17:39.120
role was at Honeywell, Honeywell
Aerospace.
201
00:17:40.140 --> 00:17:45.560
My whole comp package was tied to the
analytics that we brought to the table
202
00:17:46.240 --> 00:17:51.340
and I did really well on that. Right.
And so I would, I would encourage
203
00:17:51.350 --> 00:17:57.030
everybody to say to themselves, you
know what, maybe it's time that we
204
00:17:57.030 --> 00:18:03.630
actually did something different, Right?
And it's not about, hey, I'll sell you
205
00:18:03.630 --> 00:18:09.990
a license, right? It's about, I can, I
can transform the level of enjoyment or
206
00:18:09.990 --> 00:18:14.760
I can't, but the analytics will, will
transform the level of enjoyment you
207
00:18:14.760 --> 00:18:18.320
get from your profession. Certainly
sounds like it from that facetime video
208
00:18:18.330 --> 00:18:22.760
that you've got, that Facetime call.
That's fantastic. Well speaking of
209
00:18:22.770 --> 00:18:27.620
doing things differently, Mark, if you
were a CMO today and for cmos or
210
00:18:27.620 --> 00:18:32.430
marketing leaders listening to this,
what would you recommend that they do
211
00:18:32.430 --> 00:18:36.560
differently? There were a couple of
things as you and I have chatted before
212
00:18:36.570 --> 00:18:41.770
that I think are worth mentioning here,
uh spending more time with the C suite,
213
00:18:41.770 --> 00:18:45.030
which you kind of alluded to there.
They're not these judges in black robes,
214
00:18:45.030 --> 00:18:50.620
You need to change your perception. Um,
and then not giving up on a Ceo that
215
00:18:50.630 --> 00:18:54.010
quote unquote doesn't get it. Maybe
let's take these in turn talk about
216
00:18:54.010 --> 00:18:57.440
spending more time with the C suite,
what that looked like for you as a
217
00:18:57.440 --> 00:19:01.680
marketing leader and what you see that
look like for CMos that you work with
218
00:19:01.680 --> 00:19:07.670
that have made this mental shift about
their Ceo and the rest of the C suite.
219
00:19:07.680 --> 00:19:11.960
While I think that those two things are
inextricably linked, right? Because
220
00:19:13.040 --> 00:19:17.480
what and what you're really doing and
spending time with with people is it's
221
00:19:17.480 --> 00:19:21.230
just like any friendship you have,
right? Or any great conversation that
222
00:19:21.230 --> 00:19:25.700
you've ever had or any great first date
that you've ever had, you were focused
223
00:19:25.710 --> 00:19:31.270
on them. You weren't trying to sell
anything least of all yourself to them.
224
00:19:31.740 --> 00:19:35.270
Right? You were expressing you were
asking them a lot of questions. That's
225
00:19:35.270 --> 00:19:41.120
a that's a classic metric, right? If if
if you're mostly asking questions of
226
00:19:41.120 --> 00:19:46.050
this other person, that's a good thing.
I think that at the end of the day
227
00:19:46.640 --> 00:19:53.420
marketing is so one of the great kind
of ironic, farcical jokes about this
228
00:19:53.420 --> 00:20:00.520
whole situation is that whatever money
you're spending on marketing and you're,
229
00:20:00.530 --> 00:20:03.860
we're presuming you're spending it well
and all that kind of stuff. Right?
230
00:20:05.240 --> 00:20:09.960
Then we're talking about the last thing
in the company that should worry about
231
00:20:09.960 --> 00:20:10.670
our lie.
232
00:20:12.460 --> 00:20:18.050
And I'll tell you why it's because the
same dollar is not only improving sales
233
00:20:18.050 --> 00:20:22.930
productivity, it's improving recruiting
and retention. It's recruiting. You
234
00:20:22.930 --> 00:20:28.520
know, investor relations is improving
all these things simultaneously now on
235
00:20:28.520 --> 00:20:33.270
different time lagged kind of
situations, but it's all happening off
236
00:20:33.270 --> 00:20:38.990
the same money. Right? So the cool part
about that is is that when you spend
237
00:20:38.990 --> 00:20:43.160
time with these leaders, you're helping
all of them. Pretty much.
238
00:20:44.540 --> 00:20:50.340
You just got to figure out how they see
it, what their biggest needs are and go
239
00:20:50.340 --> 00:20:55.970
there for them, right? I mean, and then
be able to say, okay, you know what,
240
00:20:55.980 --> 00:20:59.920
this is, this is what we're gonna
project here. this is what we think we
241
00:20:59.920 --> 00:21:06.920
can do for you. And this is the value
arc over time and space, and we'll
242
00:21:06.920 --> 00:21:10.380
report back against how we're doing so
again, this is like guidance and the
243
00:21:10.380 --> 00:21:16.170
and then the quarterly report, right?
And that is that is really, really key.
244
00:21:16.170 --> 00:21:23.710
I think that the the other part to this
is to realize that, so this is this is
245
00:21:23.720 --> 00:21:28.180
a little hardcore, but I'll go with it.
So we're all, we've all heard about how
246
00:21:28.180 --> 00:21:34.740
in a really, really negative situations,
right? The abuser can the the abuse
247
00:21:34.740 --> 00:21:40.980
becomes the abuser, right? And and that
is part of what is going on here. And
248
00:21:40.980 --> 00:21:46.250
what I mean by that is, is that these
business leaders are under an enormous
249
00:21:46.250 --> 00:21:50.880
amount of pressure to deliver to
perform, right? And they are getting
250
00:21:50.880 --> 00:21:56.520
hit in ways that a lot of times is not
transparent to everybody else. And so
251
00:21:56.530 --> 00:22:01.140
if they feel like that you are not
helping them right, they're gonna,
252
00:22:01.150 --> 00:22:05.670
they're gonna take it out on you, right?
The crap rolls downhill. And so
253
00:22:06.740 --> 00:22:11.360
I think that the more this isn't, by
the way, if you view this as politics,
254
00:22:11.940 --> 00:22:15.960
I would say that it's not, it's not
politics, this is human relationships.
255
00:22:16.440 --> 00:22:20.710
And this is about being able to say,
okay, I really understand you. I really
256
00:22:20.710 --> 00:22:25.650
understand what's important to you as
opposed to let me tell you about this
257
00:22:25.650 --> 00:22:30.330
cool new campaign and why, you know
when we passed the hat at the C suite,
258
00:22:30.340 --> 00:22:35.470
you need to cough up several million
dollars to co fund it, right? That's
259
00:22:35.480 --> 00:22:39.660
not what I'm talking about. I love it.
I think you're exactly right there,
260
00:22:39.660 --> 00:22:45.420
mark that they are really linked in
changing your view of the rest of the C
261
00:22:45.420 --> 00:22:49.530
suite and spending more time with them,
as you mentioned, not just you're not
262
00:22:49.530 --> 00:22:54.290
just saying, hey, you know, go play
politics because as you said earlier,
263
00:22:54.290 --> 00:23:00.750
when you come asking questions, showing
curiosity and proving your value, then
264
00:23:00.760 --> 00:23:04.720
the amount of time you need to spend,
politicking actually goes way down,
265
00:23:04.730 --> 00:23:09.030
right? It's it's the opposite when
that's all you have to draw on is, you
266
00:23:09.030 --> 00:23:12.540
know, the relationship building or
politics could good or bad and
267
00:23:12.540 --> 00:23:17.030
indifferent, right? Regardless of what
that looks like. You can, you can
268
00:23:17.030 --> 00:23:21.470
eliminate a lot of that when you
approach it on a human level,
269
00:23:21.470 --> 00:23:25.410
connecting with those other members of
the C suite and then just as
270
00:23:25.410 --> 00:23:29.790
importantly recognizing what's
important to them and tying what you're
271
00:23:29.790 --> 00:23:33.520
doing to what is important to them and
drawing that line. I think that's where
272
00:23:33.520 --> 00:23:39.280
a lot of marketers to go back to, you
know, similar stories there either, I
273
00:23:39.290 --> 00:23:42.790
don't think they can do or they're
afraid to because they're not quite
274
00:23:42.790 --> 00:23:46.600
sure if there is that direct line, even
though, as you mentioned, a lot of them
275
00:23:46.600 --> 00:23:52.240
would into it. Yes, there is the line.
I just I just can't show that, you know,
276
00:23:52.240 --> 00:23:55.560
as you're interviewing a lot of
marketers right now, is that kind of
277
00:23:55.560 --> 00:23:59.400
what you're hearing that? Yes, there is
that line. I just don't feel like I
278
00:23:59.400 --> 00:24:04.090
have the confidence to say yes, that
that line is they're connecting what
279
00:24:04.090 --> 00:24:08.780
I'm doing to this business impact. You
know, I think it's actually like a lot
280
00:24:08.780 --> 00:24:15.660
of startup founders, you feel like you
can't expose your doubts safely, right?
281
00:24:15.670 --> 00:24:22.390
And so you end up delivering this
highly curated representation of
282
00:24:22.400 --> 00:24:27.670
whatever it is that you're doing, right.
And I think that marketers do that a
283
00:24:27.670 --> 00:24:33.700
lot because they're they're inside deep
inside their very insecure about this
284
00:24:33.700 --> 00:24:38.940
whole thing. Um, I think that part of
the reason why they feel that way is
285
00:24:38.940 --> 00:24:45.490
that also they are not in many cases a
T shaped talent. And what I mean by
286
00:24:45.490 --> 00:24:50.210
that is they go very deep, they have
lots of expertise on marketing, right,
287
00:24:50.300 --> 00:24:52.560
particularly what I would call
marketing execution,
288
00:24:53.640 --> 00:24:58.580
but in terms of understanding the
business, in terms of actually being
289
00:24:58.580 --> 00:25:03.410
able to convincingly engage with the
business leader about the things that
290
00:25:03.410 --> 00:25:08.610
they care about. That's where it gets a
little shaky. Not too long ago I was, I
291
00:25:08.610 --> 00:25:14.300
was invited to do an offsite with one
of the largest recruiting firms in the
292
00:25:14.300 --> 00:25:20.960
world, um where the whole focus was on
the modern CMO.
293
00:25:22.340 --> 00:25:28.270
And at the end this, this one person
stood up and asked me this question,
294
00:25:28.940 --> 00:25:32.880
you know, hey, is there one thing, is
there one thing that we can use to
295
00:25:32.880 --> 00:25:38.850
identify a modern CMO? And I said, well,
yeah, but you're not, you're not gonna
296
00:25:38.850 --> 00:25:45.800
like this a whole lot, right? But yes,
the there is present them with a basic,
297
00:25:45.810 --> 00:25:51.180
straightforward financial statement and
ask them to tell the story of that
298
00:25:51.180 --> 00:25:55.880
business based on what they read their
right. And I said a lot of times they
299
00:25:55.880 --> 00:26:00.550
won't be able to do that. So, one of
the things that I did, and I'm just
300
00:26:00.550 --> 00:26:04.200
saying this is a way of trying to help
this, right, is
301
00:26:05.240 --> 00:26:10.250
when I was still a CMO, I would put all
my folks through finance for non
302
00:26:10.250 --> 00:26:15.350
financial managers courses at their
local universities. I wasn't trying to
303
00:26:15.350 --> 00:26:20.260
turn them into us, you know, CFO, right?
But I wanted him to do that. And then I
304
00:26:20.260 --> 00:26:27.020
also started running them all, all of
them 100% including me through sales
305
00:26:27.030 --> 00:26:32.640
induction uh classes, right? So done
about like when when your company on
306
00:26:32.640 --> 00:26:37.520
boards, a new class of sales guys,
right? And it's it's hell week. You
307
00:26:37.520 --> 00:26:41.700
know, it's usually an offsite in some
hotel ballroom and it's just very
308
00:26:41.700 --> 00:26:48.120
traumatic or can be very traumatic but
it is incredibly revealing and very
309
00:26:48.120 --> 00:26:52.380
bonding, right? And so you leave with
all these relationships with sales guys,
310
00:26:52.380 --> 00:26:56.760
which is a really good thing. And you
also really start to understand their
311
00:26:56.760 --> 00:27:02.740
world. And you also pick up selling
skills yourself, right? These two
312
00:27:02.740 --> 00:27:11.890
things went a long way towards helping
the situation because also if the C
313
00:27:11.890 --> 00:27:16.890
suite feels like that you as the CMO
totally get it. But if they scratch one
314
00:27:16.890 --> 00:27:21.300
layer down and everybody that reports
to you and that reports them doesn't
315
00:27:21.300 --> 00:27:24.470
get it. This is also a problem. So
important, then you lose that
316
00:27:24.470 --> 00:27:29.950
incredibility that that you've built up.
That's great stuff, Mark to realize
317
00:27:29.950 --> 00:27:34.570
that how you see something totally
depends on the chair that you're
318
00:27:34.570 --> 00:27:39.540
sitting in. And if you can put put
yourself in their chair, not only does
319
00:27:39.540 --> 00:27:43.640
that empathy building, but also it will
change your own perspective. And so you
320
00:27:43.640 --> 00:27:49.350
will realize, wow, you know what I you
know like so a business leader gives
321
00:27:49.350 --> 00:27:53.340
you a marketing budget, guess what?
They see that as an investment deal.
322
00:27:53.350 --> 00:27:59.530
They also are very, very concerned that
the opportunity cost attached to that
323
00:27:59.530 --> 00:28:04.180
investment deal will cut against them.
In other words, that when it comes down
324
00:28:04.180 --> 00:28:08.990
to it, they won't be convinced of the
value. And so they will not only lost
325
00:28:08.990 --> 00:28:13.450
that money and spending it with you,
right? But they also have lost what
326
00:28:13.450 --> 00:28:19.110
they could have spent it on somewhere
else. Right? That is I'm not we're not
327
00:28:19.120 --> 00:28:23.130
judging the fairness run fairness of
all this. We're saying this is the
328
00:28:23.130 --> 00:28:26.800
reality, this is where this is where
leaders are in their heads on this
329
00:28:26.800 --> 00:28:32.270
stuff. Absolutely. I think it goes back
to to sum up what you just said there.
330
00:28:32.270 --> 00:28:36.220
I think you told it to me really well
last time where you sit determines
331
00:28:36.230 --> 00:28:41.170
where you stand. Um and begins with
that empathy of putting yourself in
332
00:28:41.170 --> 00:28:45.780
that other seat in that sales leader
seat in that ceo seat. Um And I think
333
00:28:45.780 --> 00:28:49.410
you laid out some really practical
things in the CFO seat, right? Going
334
00:28:49.410 --> 00:28:54.070
through yourself and uh the rest of
your team through some financial
335
00:28:54.070 --> 00:28:59.230
literacy courses and finance courses so
that they can look at A. P. And L. They
336
00:28:59.230 --> 00:29:04.320
can look at those things and actually
be able to tell the story of the
337
00:29:04.320 --> 00:29:08.220
business um in a way that a lot of
marketers can't these days, also like
338
00:29:08.220 --> 00:29:12.680
what you said about, um you know, not
only empathizing with sales, but um
339
00:29:12.690 --> 00:29:18.130
bolstering your sales, acumen your
sales skills and building relationships
340
00:29:18.130 --> 00:29:23.110
with sales. If you can find ways to get
your marketing team involved with uh
341
00:29:23.120 --> 00:29:26.610
new sales, onboarding and training,
even if it's a little bit traumatic,
342
00:29:26.620 --> 00:29:30.090
but you know, we started this interview
saying, you know that you got beat up
343
00:29:30.100 --> 00:29:34.140
and you learn some lessons from it. So
maybe a little bit of trauma is a good
344
00:29:34.150 --> 00:29:38.300
thing, right? It's all, it's all about
what you do with it. Exactly, Exactly.
345
00:29:38.300 --> 00:29:41.570
Well, this has been a fantastic
conversation mark for anybody who wants
346
00:29:41.570 --> 00:29:45.160
to stay connected with you, learn more
about what you and the team at proof
347
00:29:45.160 --> 00:29:49.610
analytics are up to or find your
podcast. What is the best way for them
348
00:29:49.610 --> 00:29:54.040
to take action on any of those three?
Well, I would say that to reach me. I
349
00:29:54.040 --> 00:29:57.800
mean I'm I'm pretty active on linkedin.
In fact, some people would say I'm very
350
00:29:57.800 --> 00:30:03.920
active on linkedin. So uh so I would
reach out to me there um if you want to
351
00:30:03.920 --> 00:30:08.000
find our podcast, it's it's called
Accelerating Value. It's on all the
352
00:30:08.000 --> 00:30:14.210
major platforms. So it's super easy to
find. Um there's some great interviews
353
00:30:14.220 --> 00:30:19.480
with people like Sandra bahsrah, right?
That, you know, I mean people who are
354
00:30:19.480 --> 00:30:25.270
just really brilliant. And so what we
don't really talk about like their day
355
00:30:25.270 --> 00:30:27.170
job, right? We talk about
356
00:30:28.340 --> 00:30:33.290
how they see value creation, how they
think about it, how they invest in and
357
00:30:33.290 --> 00:30:37.650
how they defend it, all that kind of
stuff, Right? And so and we don't just
358
00:30:37.650 --> 00:30:41.330
talk to marketers, we talked to all
kinds of leaders right? Because we're
359
00:30:41.330 --> 00:30:47.270
trying to really inspire a bunch of
people to to think a little differently
360
00:30:47.840 --> 00:30:53.650
and move beyond the operational, which
is really important into not even the
361
00:30:53.650 --> 00:30:58.620
strategic, it's it's really about a
value mindset. It's about, hey man, I
362
00:30:58.620 --> 00:31:03.620
gotta I gotta return enough on my on
that money to make it worthwhile for
363
00:31:03.620 --> 00:31:07.700
everybody else. Yeah, I think it ties
back to something you said earlier
364
00:31:07.700 --> 00:31:11.670
about, you know when you get budget or
you get an agreement from another
365
00:31:11.670 --> 00:31:15.660
department to share their budget on
something that marketing is leading,
366
00:31:15.670 --> 00:31:19.410
they're really looking at that as an
investment deal. And if you can make
367
00:31:19.410 --> 00:31:23.930
that shift in your mindset, it's gonna
change how you actually execute on that,
368
00:31:23.940 --> 00:31:28.340
how you communicate with them, how you
share progress updates, how you think
369
00:31:28.340 --> 00:31:33.470
about winning or losing in that. In
that example, I imagine you already
370
00:31:33.470 --> 00:31:37.260
mentioned SAN Graham, You and I have
talked multiple times offline about how
371
00:31:37.260 --> 00:31:42.450
much we admire him. Uh not only as a
marketer in person, but any other uh
372
00:31:42.460 --> 00:31:46.130
interviews of accelerating value that
have really stood out to you recently,
373
00:31:46.130 --> 00:31:50.000
if someone goes and finds your show one
that you would recommend. Yeah. So
374
00:31:50.000 --> 00:31:56.120
actually, so julie Brown is at johnson
controls, right? So actually kind of a
375
00:31:56.130 --> 00:32:05.760
competitor to Honeywell and julie did
so well as a analytics Lead marketing
376
00:32:05.760 --> 00:32:12.260
leader. Guess what? She's now running
all of business transformation at jOHNS
377
00:32:12.260 --> 00:32:18.140
controls, reporting to the Ceo. So it's
not it's not that she's somehow escaped
378
00:32:18.150 --> 00:32:25.090
right from marketing. It's it's about
the fact that what I mean if if if
379
00:32:25.090 --> 00:32:30.660
marketing isn't business transformation
then what the hell is it? Right. I mean
380
00:32:30.670 --> 00:32:34.160
you're not only trying to transform the
business that you're in, you're trying
381
00:32:34.160 --> 00:32:38.400
to transform customers businesses.
That's how much you believe in the
382
00:32:38.400 --> 00:32:44.550
value property, right? So so you know
she just leave it up, right? And she
383
00:32:44.550 --> 00:32:50.460
has some really really great insights
right? Again on this T. Shaped kind of
384
00:32:50.460 --> 00:32:54.750
idea which I think is so important, so
important for all of this is not you
385
00:32:54.750 --> 00:32:58.780
know, we've spent a lot of time in this
conversation logon talking about all
386
00:32:58.780 --> 00:33:03.830
this in the context of being a CMO. But
this is this is these are universal
387
00:33:03.830 --> 00:33:09.360
truths, right? It it doesn't matter if
you go back 15 years, you go back 20
388
00:33:09.360 --> 00:33:14.850
years. So right after y two K. Guess
who was going through exactly the same
389
00:33:14.850 --> 00:33:18.990
transformation that marketing is moving
through today and did it just as
390
00:33:18.990 --> 00:33:23.550
painfully as marketing is doing it
today. And that's enterprise I. T.
391
00:33:23.560 --> 00:33:30.060
Right? And it was when it was when the
C. I. O. Stopped being a tech head and
392
00:33:30.060 --> 00:33:34.710
started being a business leader who
happened to also be a tech head. Right?
393
00:33:34.720 --> 00:33:39.820
That's when that transition was
complete. And that's really what a
394
00:33:39.820 --> 00:33:45.600
modern CMO or a modern Cto or whoever
it's all about as a business leader
395
00:33:45.600 --> 00:33:49.800
first. And then you've got the
specialization, as you mentioned
396
00:33:49.800 --> 00:33:53.770
earlier talking about campaigns right?
It's not that the orchestration of
397
00:33:53.770 --> 00:33:57.650
those campaigns is not important. The
operations are still important. Kind of
398
00:33:57.660 --> 00:34:01.470
you know you've got a business leader
who's wearing the I. T. Had he's still
399
00:34:01.470 --> 00:34:07.130
a tech head. But what he or she is
first has changed. I think that's
400
00:34:07.240 --> 00:34:10.580
that's the lesson and I love the way
that you rounded it out today. Mark
401
00:34:10.580 --> 00:34:14.060
that you know we're talking to CMOS and
marketing leaders but this really can
402
00:34:14.060 --> 00:34:19.030
apply to every area of business in
every area of life. Well, I highly
403
00:34:19.030 --> 00:34:23.940
encourage anybody who's not connected
with you. Uh Check out Mark stoops, S T
404
00:34:23.940 --> 00:34:28.840
O U S E on linkedin. Check out proof
analytics and we'll link to
405
00:34:28.840 --> 00:34:33.500
accelerating value uh their podcast in
the show notes here, check out that
406
00:34:33.510 --> 00:34:38.960
episode from julie Brown. Once you find
that subscribe, scroll to see julie
407
00:34:38.960 --> 00:34:43.199
braun's episode and check that out, uh
it is a great one. Mark, thank you so
408
00:34:43.199 --> 00:34:46.040
much for joining us on the show today.
This is a blast. Thanks
409
00:34:48.239 --> 00:34:52.409
is the decision maker for your product
or service at BBB marketer. Are you
410
00:34:52.409 --> 00:34:56.620
looking to reach those buyers through
the medium of podcasting? Considered
411
00:34:56.620 --> 00:35:01.830
becoming a co host of GDP growth. This
show is consistently ranked as a top
412
00:35:01.830 --> 00:35:05.980
100 podcast in the marketing category
of apple podcasts and the Show gets
413
00:35:05.980 --> 00:35:11.210
more than 100 And 30,000 downloads each
month. We've already done the work of
414
00:35:11.220 --> 00:35:15.590
building the audience so you can focus
on delivering incredible content to our
415
00:35:15.590 --> 00:35:20.050
listeners. If you're interested, email
Logan at Sweet Fish Media dot com.