In a special edition of CMO Moves from the CES C-Suite track, Nadine Dietz, Chief Community Officer of Adweek, sat down with Vineet Mehra, Global Chief Marketing Officer and Chief Customer Officer of the Walgreens Boots Alliance, and Lisa McKnight, SVP and Global Head of Barbie, together & Dolls Portfolio-Mattel, Inc. who not only turned their communication strategies during the pandemic, but also shifted the focus of their product offerings to meet the new needs of their consumers.
Own the growth agenda
Despite the general operator mentality, Lisa prides itself on owning the growth agenda at Mattel. She works closely with all partners to find ways to expand the old brand. She discussed the growth potential of a brand spanning generations and the different areas the brand is exploring today – social media, editorial partnerships, gaming, etc.
"For me, the ultimate barometer is when a CFO realizes that a CMO is a growth driver." Vineet touched on recent examples like the Walgreens Advertising Group, which has created a new revenue stream for the company by leveraging their first party data.
Overhaul of the consumer experience
As discussed in episode 150 of CMO Moves with Vineet, he firmly believes in the power of collaboration between the CIO and the CMO. Vineet humorously recognized his chief information officer as his "digital soul mate" and noted how they are currently collaborating on new innovations that focus on the most important consumer needs that need to be addressed right now, as well as product and experience roadmaps for them Future.
When it comes to today's consumer needs, Mattel, Inc. makes sure you stay tuned while ensuring that the brand stays close to its roots, especially the Barbie brand. Lisa and the team have adapted much of the content to reflect what is going on in the world. “When we went into quarantine, Barbie did too. She started wearing a mask. She started baking banana bread. She participated in all kinds of challenges. We wanted it to have some ease, entertainment, and convenience, but also educational opportunities. "
Nadine and the speakers closed the session with a discussion of what they're most optimistic about in 2021: frontline leadership with empathy, companies that address today's DEI needs, and the next generation of marketers. "I think we have an emerging group of marketers who I think will make our industry so much stronger and so much better," said Vineet. "And I'm really looking forward to the future of our industry."
This episode is also available on Spotify, iHeartRadio, and Apple podcasts.