Prepare to have your mind expanded as Greg Stuart, the visionary CEO of MMA Global, takes us on a journey through the transformative powers of AI in marketing.
You'll come away with a newfound understanding of the vibrant nexus where technology meets creativity, and how this synergy is redefining the industry. Greg's impressive track record in propelling marketing innovation sets the stage for a riveting discussion that challenges long-held beliefs and opens the door to a world where marketing's influence within the business sphere is both recognized and revered. We tackle the thorny issue of CMO turnover and explore AI's promise as a tool for heightened marketing prowess.
Then, we navigate the intricate landscape of multi-touch attribution (MTA), a tool that's revolutionizing how marketing effectiveness is measured and optimized. As your host, I'll share from my vault of experience, shedding light on the data collection conundrums and the precision required in analytics that make MTA both a beacon of hope and a challenge for marketers. This chapter is a goldmine for those looking to fine-tune their understanding of MTA and its impact on crafting savvy, data-empowered marketing strategies. You'll also get insider tips on managing risks and seizing career opportunities that could make all the difference in your professional journey.
Our finale is a glimpse into the future, where long-term brand equity and short-term marketing gains coexist harmoniously, translated into the universal language of finance. I'll take you through groundbreaking case studies and introduce you to the AI Leadership Coalition and the insights gained from my 'Building Better CMOs' podcast. For a deep dive into the role of AI in marketing and to capture the essence of where the field is headed, this is one episode you won't want to miss. Don't forget to hit subscribe and share the treasure trove of insights with your network!
Embracing AI: The Future of Marketing According to Greg Stuart
In the rapidly evolving world of marketing, it's easy to feel lost in the whirlwind of emerging technologies and shifting paradigms. Greg Stuart, the visionary CEO of MMA Global, joined me, Joeri Billast, on the latest episode of the "Web3 CMO Stories Podcast" to provide some much-needed clarity and direction. With a career spanning over three decades, Greg has been a transformative force in the industry, pioneering multi-touch attribution measurement and reshaping advertising standards.
The State of Marketing and MMA Global's Mission
Our conversation opened with a sobering reflection on the current state of marketing. Greg highlighted a staggering statistic: on average, marketing departments have a net promoter score of negative two percent. Marketers, it seems, are not even fans of their own domain. MMA Global, under Greg's leadership, is on a mission to rectify this. The organization aims to restore marketing's lost stature by directly addressing its underlying issues and re-aligning it with business outcomes.
Greg emphasized that this isn't just a battle for recognition. It's about effectiveness and making a tangible impact on company stock prices through improved marketing practices. With CMOs often being the first on the chopping block when companies struggle, Greg's focus is on foundational change that can stabilize and enhance the role.
AI as a Transformational Force
A substantial portion of our discussion centered around artificial intelligence — a topic Greg considers the most significant opportunity for marketing since its inception. AI promises to revolutionize marketing by boosting productivity, efficiency, and, crucially, personalization. Personalization, according to Greg, is where "everybody wins." The consumer enjoys a tailored experience, and the marketer benefits from increased engagement and conversion rates.
However, Greg expressed a measure of skepticism toward Web3, at least as a marketing vehicle. The potential of blockchain is undeniable, but its application in marketing has yet to demonstrate the same scale and impact as AI.
The Power of Multi-Touch Attribution
Greg took a moment to demystify multi-touch attribution (MTA), a system that measures the impact of various marketing touchpoints on consumer behavior and sales. He regards MTA as the future of marketing analytics, despite its complexity and the challenges in implementation.
Throughout the podcast, Greg returned to the theme of risk-taking and innovation. He recounted the industry's evolution from PCs to the internet, mobile, and now AI, noting that each transformational technology follows roughly a 13-year cycle. We are currently in the AI cycle, and Greg's advice was clear: don't hesitate. Dive in and learn quickly because AI is where the next wave of competitive advantage lies.
Staying Informed and Future-Focused
When asked where he keeps up to date with all these new evolutions, Greg modestly pointed to MMA Global as a prime source. He also stressed the importance of listening to CMOs, understanding their challenges, and identifying gaps in marketing knowledge. It's this continuous dialogue that fuels MMA Global's research and the advancement of the industry.
The Role of Podcasting in Learning
Greg and I shared a passion for podcasting, recognizing it as a powerful medium for learning and disseminating knowledge. Greg's own podcast, "Building Better CMOs," aims to uncover what even seasoned marketers may misunderstand about their craft.
Concluding Thoughts
The conversation with Greg Stuart was nothing short of enlightening. It underscored the urgency for marketers to embrace AI and innovate relentlessly. As marketing continues to evolve, staying informed, taking calculated risks, and prioritizing efficiency and personalization are not just recommendations—they're necessities.
Key Takeaways:
Marketing Needs a Revival: Marketing's effectiveness and respect within the business world have diminished, and organizations like MMA Global are vital in leading the change.
AI Is the Next Frontier: AI is set to be the most significant influence on marketing, offering unprecedented improvements in efficiency and personalization.
Skepticism Towards Web3's Immediate Impact: While recognizing blockchain's revolutionary potential, Greg Stuart remains unconvinced of its current role in transforming marketing.
Embrace Multi-Touch Attribution: MTA is a complex but essential tool for modern marketing analytics, offering insights into the effectiveness of different marketing efforts.
Innovate or Fall Behind: The pace of technological advancement is relentless, and marketers must be willing to adopt new technologies quickly or risk being overtaken by more agile competitors.
Podcasting as a Learning Tool: Engaging with thought leaders through podcasts is an excellent way for marketers to stay at the forefront of industry trends and insights.
Greg Stuart on the Web3 CMO Stories podcast
KEY HIGHLIGHTS
[01:32] Could you please explain what MMA Global does?
[04:34] What are your thoughts on the recent advancements, such as AI, in the marketing industry?
[13:06] Analytics is crucial in today's marketing landscape. Are you personally interested in marketing analytics as well?
[13:19] What are the most effective ways for marketers to utilize analytics?
[18:35] Reflecting on your career, what was one of the most significant risks you've taken that ultimately paid off? Could you share some insights or tips about it?
[20:58] What sources do you rely on to stay updated with the latest advancements in your field? Are there any specific recommendations you'd offer?
[25:19] What activities do you enjoy the most, like listening to podcasts?
NOTABLE QUOTES
"AI will be the dominant transformational opportunity here... I try to figure out as fast as I can."
"Our fundamental belief is that marketing has lost its thread, it's lost control... That's what we're out to fix."
"CMOs lose their jobs too often... there are some basic underlying dynamics of marketing that really could be better understood."
"AI will be the most important thing that ever happens to marketing... it's going to either dramatically improve productivity, efficiency... it's a big deal."
"Measurement is the most abused word in marketing... until you understand which one you're talking about, it's a hard conversation."
