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Chief Marketing Officer Practice Egon Zehnder International ExpertsThe journal for practice knowledge Chief Marketing Officer Practice Issue No. 1 FROM BRAND CUSTODIAN TO GENERAL MANAGER THE NEW ROLE OF THE CMO Interview Why it is now so crucial for CMOs to strike the right balance between brand and business perspectives – an interview with Erich Stamminger, Board Member Global Brands at adidas Panel What the CMOs of five leading companies have to say about their roles and the key success factors for a modern CMO Expertise How the impact of digital media is reinforcing the position of market- ing within the company and revolutionizing the profile of the CMO Publisher Egon Zehnder International AG Executive editors Michael M. Meier, Dick Patton Project manager Markus Schuler Production MAC Studios Düsseldorf Editing Mona Dirnfellner English language editing Paul Boothroyd Printed by Dr. Cantz’sche Druckerei Zeppelinstraße 29-31 73760 Ostfildern, Germany Egon Zehnder International GmbH Rheinallee 97 40545 Düsseldorf, Germany Tel.: +49 (0) 211 55 02 85-40 Fax: +49 (0) 211 55 02 85-50 Email: [email protected] Web: www.egonzehnder.com © 2011 Egon Zehnder International AG EDITORIAL The new role of the CMO We are currently witnessing a global trend that is redefining the map references to which companies refer for strategic direction: driven by the rapid advance of digital media, a sharp focus on the customer and consumer is emerging as the new linchpin of corporate strategy. As a result, the marketing function is becoming a crucial success factor and the role of Chief Marketing Officer is undergoing fundamental transformation. The former brand custodian is fast becoming a general manager who launches and drives a market-oriented management approach. Already well advanced in the consumer goods sector, this trend is now embracing other industries as well. In this issue of Experts we aim to provide you with valuable information about this transfor- mation. In our interview with Erich Stamminger you will discover what the Board Member Global Brands at adidas considers the key success factors in his career and what he believes makes for a successful CMO in today’s market environment. You will also learn about the changes that the experts at our CMO Practice have been witnessing and why, as a result, the competency profiles of CMOs and CEOs are progressively converging. And finally, our panel contributors from five leading companies in different industries and geographies pro- vide a first-hand impression of how the profile of the CMO has changed over recent years. We hope you find that the articles in this issue make inspiring reading. If you would like to know more or discuss aspects of this topic concerning your own company, the experts from our CMO Practice are at your disposal. The Chief Marketing Officer Practice Egon Zehnder International The new role of the CMO Experts 1 InTErvIEw Erich Stamminger Board Member Global Brands, adidas “Ultimately, it all boils down to running a business.” Erich Stamminger, Executive Board Member responsible for Global Brands at adidas AG, talks about how he built his career and the competencies today’s marketers need to make it to the top. Photos: Michael Herdlein 2 Experts The new role of the CMO InTErvIEw EXPErTS: Tell us about the status of market- and business responsibility. Marketing is not isolat- ing at adidas – is it as pivotal as an outsider ed. It does not mean people sitting in an ivory tower, might assume? brainstorming about medium- and long-term strate- Erich Stamminger: Marketing does play a crucial gies. It focuses on brand, creativity and innovation role, because at adidas it’s the brand that drives the on the one hand, and on setting and achieving busi- company. Whatever we do, the brand points the way. ness objectives on the other. For example, in our medium-term plan launched in November 2010 we derived all our objectives and That’s an embracing and integrative take on measures from the brands, taking into account marketing… the individual positioning of each brand as well Yes, the key point is that marketing must not be iso- as its position in the brand matrix. Right now we’re lated if you want to be successful. You need the working on aligning adidas with Reebok, position- communication, innovation and creativity part as ing both brands in a way that allows us to reach a well as the business part. Marketers have to be on broader consumer base while avoiding contradic- par with business people. tions between the brands. Then we will fight to gain ground in the market. So how has adidas evolved to the point where your role as Head of Global Brands is so broad In light of strong brands and driving them for- that it has such influence over the company? ward, how has the role of Chief Marketing Of- I would say it’s all part of having a great CEO. There ficer evolved over time? has always been a close relationship between our Before we look at the CMO we should first define Chief Executive Herbert Hainer and myself. He what marketing is. Many people think marketing strongly supports the notion of the vital importance means communication. In fact, while communica- of the brand. For him, the brand is the key driver of tion is a key factor, for adidas marketing includes success, not only in the medium term but in the long much more. It’s about innovation and product devel- term as well. If you just focus on the P&L scheduled opment. And it includes business responsibility. So for the next quarter – an essential indicator when at adidas it’s not only the CMO but also the market- you have to deliver short-term results for sharehold- ing officers reporting to him who assume product ers – you will miss the opportunities in the medium 4 Experts The new role of the CMO InTErvIEw and long-term. With a CEO focused on the short term you can present even the most promising idea, and he will say sorry, we cannot finance this. Herbert Hainer’s view, by contrast, is that “We don’t see marketing as a cost driver, we see it as an invest- ment in the future.” He has supported me a lot and allowed me great freedom. We’ve always agreed on the need to do something that leads us into the fu- ture and not just keep on doing what everyone has seen the brand do for the past five or ten years. what would you say are key success factors in marketing the adidas brand? First and foremost, you need the right people. In my organization there are two kinds of marketers: those who come up with creative ideas and are confident they can put them into practice, and those who regard themselves the guardians of the brand. Both are important. It’s the right mix that makes the difference. Because on the one hand you need to make sure everything you do is in line with the brand’s authenticity and history. On the other hand you must not cling to heritage. You have to stick to your understanding of the brand but project it into a future environment. So the key success factor is to bring these two perspectives together, allowing both kinds of marketers to have their say. A second important factor is innovation. You have to be in- novative all of the time. In 2000 we committed to launching one completely new innovation or at least one significant evolution of an idea every year. I think we have overachieved this by far. In the last ten years we have definitely been the most innova- tive company and brand in our industry. How do you define innovation? By innovation I don’t just mean product innovations. In our industry it’s not just about a new technology for a sole, a new upper or a new use of the laces to improve the fit. Innovation also refers to how we do business and how we connect with the consumer. For example, during the 2006 World Cup we ran a spec- tacular ad campaign with the German goalkeeper Oliver Kahn as brand ambassador. We also built the “In the last ten years “adidas World of Football”, a stadium for public viewing in Berlin opposite the Reichstag – it was we have definitely been given wide coverage in the print media. Four years the most innovative later, when we went to South Africa for the 2010 World Cup, we knew that spectacular actions like company and brand in that would not work there. And we were determined our industry.” The new role of the CMO Experts 5 InTErvIEw to make our mark on the country. So we decided to commit to social programs in the townships. We also helped fund the construction of a stadium in a town- ship, and we produced a giant jersey that thousands of South Africans signed over time and that we ulti- mately donated to the Nelson Mandela Foundation. One of the first things you said was: “The brand drives the company.” But what drives the brand? In our vision for the adidas brand it says: “Our pas- sion for sports makes the world a better place” – and we’re out to transform that vision into reality. So to answer your question, it’s this vision that motivates us. That’s what drives the brand. If you take a walk around the company and stop by at our stripes restaurant, for example, you will find many people there who are passionate about sports.
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