14. Andy Duncan (CEO of Camelot, President of The Advertising Association)
Rory Sutherland (Executive Creative Director OgilvyOne, Vice-Chairman Ogilvy &
Mather)
Katie Vanneck-Smith (CMO of News UK)
Mike Hughes (Director General of ISBA)
Sarah Speake (Director of Commercial Marketing & Research of ITV)
Russ Lidstone (CEO of Havas Worldwide London)
Phil Rumbol (Founder of 101 London)
Richard Robinson (Managing Partner of Oystercatchers)
Jorge Postigo (Associate Principal of McKinsey)
Gary Stewart (Director of Wayra UK)
Sherilyn Shackell (Founder of The Marketing Academy)
Helen Tupper (Head of Insight at Virgin & Founder of AmazingIf)
Carrie Osman (CEO & Founder of Cruxy&Co)
16. Take Risks! Be bold, brave and play to win.
The lottery has over 100 good causes funded per post code
They need to do a better job of telling their purpose story
Andy Duncan (CEO of Camelot,
President of Advertising Association
17. Nature has a huge marketing
budget
Rory Sutherland, Creative Director
20. Getting Marketing Represented on the
board
.0038%
Katie Vanneck-Smith (CMO of News UK)
Mike Hughes (Director General of ISBA)
Russ Lidstone (CEO of Havas Worldwide London)
Richard Robinson (Managing Partner of Oystercatchers)
Zaid Al Quassab (CMO House Trip)
Huge theme of the day was about marketing being at odds with finance – He says marketing has been bullied by finance and now has Stolkholm’s syndrome with it
Rory talked about behavioural economics and how they need to help get human understanding into the boardroom
Nature has 2 jobs, the first is Darwin’s ‘survival of the fittest’ which he likened to ‘finance’
The 2nd Job of nature is the marketing function, which is the cost signalling theory
The marketing function of nature is a reliable indicator of genetic fitness
Luxury goods are similar
If women went after men with the most expensive cars, they would go after coach or lorry drivers
However, these are undesirable because they have a purpose
A two seater ferrari in London with no trunk space signals ‘I’ve got spare resources’ because it doesn’t have a function which is more desirable
Vocabulary is another gratuitous spend – you don’t need 20,000 word lexicon to hunt an elephant
Altruism another form of costly signalling theory. To be able to do it signals you have an abundance of resource.
A Penguin is an Albatross taken over by finance
A peacock is a chicken taken over by marketing
What’s really important may not have a ‘metric’ attached to it / emotions don’t have a mathematical formula
Marketing has done itself a disservice – language doesn’t make sense
Like astrology – only is appealing to those that believe in it
Finance don’t understand marketing – looking at behavioural economics gives a language to speak to finance
Which leads on to the next panel – Getting marketing represented on the board
This first number represents the number of board seats held by CMOs in Fortune 1000 companies
This is the number of CFOs that hold board seats on Fortune 1000 companies
This is the number of CFOs that hold board seats on Fortune 1000 companies
80% of CEOs admit they do not really trust and are not very impressed by the work done by marketers – in contrast, 90% of these CEOs do trust and value the opinion and work of CFOs and CIOs2.
Katie Vanneck Smith said in her department the ethos is that they are friends with Finance and married to Tech.
She also said the importance of befriending procurement in her strategy as they report to the CFO and are commercially naive
What’s important for us as marketeers and Biz dev is to take this into account when building a pitch and create a pitch language that can be easily communicated to Finance and Procurement
They spend a lot of money on CSR initiatives so have got a tentative meeting with her and Sam following a reccomendation from marketing academy founder, Sherilyn Shackell
What can they take from all of this? Marketing is a necessity part of every company. We have a challenge to get more representation at board level and demystify the language by using behavioural economics as common ground.
We also learned about the power of networking, heard from a few start ups,
one of which is coming into meet Oscar and I, Hubbub, which is a crowdfunding platform for student projects,
Heard from Sherilyn Shackell, the founder of the Marking Academy about taking accountability and responsibility for your own career and happiness,
and from Jorge Postigo , the associate principle from McKinsey who talked about being a leader and left us with some inspirational quotes which will hopefully motivate you for the week ahead!
That wraps it up from us. As you know, we have the summer of somewhereto_ which will be launching in a few weeks. We’ve got Plan B as an ambassador, SYCO doing scouting and masterclasses and Henry Holland, Fred Butler, Riz Ahmed, the editor in chief of Guinness World Records all on board to be mentors for the campaign. All at no cost to the project, they genuinely want to be involved.
Show Trailer
We need your help –
At the very least, please share the trailer with potential stakeholders, through your networks and young people that might like to get involved
If you know of any potential mentors, please send the mentor letter to them or introduce them to Rosie – we have tiered asks depending on the time they have available
If you know of any companies that might want to get involved as a partner, please send them to myself and Esther.
Thanks for your time, enjoy your week!
