The Consumer / Marketplace Scorecard for CMO’s — Mike Linton // Ancestry
- Part 1 The Consumer / Marketplace Scorecard for CMO’s — Mike Linton // Ancestry
- Part 2How the Best Buy CMO aligned the company’s KPI’s with compensation — Mike Linton // Ancestry
Show Notes
-
02:11What is a marketplace scorecard?All marketers should have a marketplace scorecard versus a marketing scorecard.
-
05:10Is the consumer scorecard used to keep a pulse on your customer or to track overall marketing performance to C Suite?The consumer scorecard is for three things: to say, are we getting the consumers we want, and are they staying? The second is for the company, while the third is for pay. The goal is to get the team to care the most about the consumer score vs. any functional stats.
-
08:17Why you need a marketing CFOThe marketing CFO has a foot in the finance camp and a foot in the marketing camp. And their job is to help the marketer spend the money in the best way for the company and the customer.
-
10:05Which metrics should be looking for when looking at your budget holistically?The most important metric is to get the team to meet the total ROI commitment to the company.
Quotes
-
"All marketers should have a marketplace scorecard versus a marketing scorecard. It is hard for marketers to get all on the same page and see the consumer versus their function." - Mike Linton
-
"My goal when I went into Best Buy after having learned a couple of lessons was to have one scorecard for the whole customer that also showed the marketplace, and that was a focus on sales, profit retention, and then something if I could get it like market share, so I could have a relative understanding of how the consumer was moving through the whole business." - Mike Linton
-
"The consumer scorecard is for three things. The most important thing the marketing department could do is bring the right consumers in and keep them. And so I use it to say, are we getting the consumers we want, and are they staying? The second thing I do is use it for the company, and the third is for his pay." - Mike Linton
-
"The marketing CFO has a foot in the finance camp and a foot in the marketing camp. And their job is to help the marketer spend the money in the best way for the company and the customer. Ideally, you're trying to align those because the company wins when the customer wins." - Mike Linton
-
"I expect the team to meet the total ROI commitment to the company. I don't like that each buddy, each team trying to optimize their ROI component and measure everything perfectly." - Mike Linton
-
"When the company gives you that kind of line item, you should return results to the company. And those results are usually in the form of profitable sales and a promise that you haven't mortgaged the brand's future to get them. The scorecard is an excellent way to look at that." - Mike Linton
-
"Marketing is the most scrutinized job. The company pays attention to every piece of marketing you do. Sadly, consumers do not. One of the things I use the consumer scorecard for is to show consumers how consumers are voting. And in most businesses, I've been in, they have to vote with money. And so I try and track up consumer money flows in. And it's not enough to get just traffic; they usually have to give us money to succeed." - Mike Linton
- Part 1 The Consumer / Marketplace Scorecard for CMO’s — Mike Linton // Ancestry
- Part 2How the Best Buy CMO aligned the company’s KPI’s with compensation — Mike Linton // Ancestry
Up Next:
-
Part 1The Consumer / Marketplace Scorecard for CMO’s — Mike Linton // Ancestry
Marketing is the most scrutinized job. The company pays attention to every piece of marketing you do, and sadly, consumers do not. How do you show the company from the consumer perspective that your marketing efforts are working? How do you get everyone on the marketing team to see how their diverse functions contribute to the whole that consumers see? Listen to Mike Linton, Former CMO of Ancestry, discussing the consumer scorecard for CMOs to succeed.
-
Part 2How the Best Buy CMO aligned the company’s KPI’s with compensation — Mike Linton // Ancestry
Marketing is the least homogeneous function in the company. It is a multifunction role that requires experience and practice across functions. If you can write your marketing into the financial story, you have a lot more credibility. But how? Listen to Mike Linton, Former CMO of Ancestry, discussing how the Best Buy CMO aligned the company's KPIs with compensation.
Play Podcast