Wayfair, Kate Spade and Revlon CMOs on What's Changed in Marketing
Change has been the only constant in retail for three chief marketing officers who sat down with Sarah Engel, chief marketing officer and chief people officer at January Digital, during a session at Shoptalk earlier this week.
Wayfair CMO Bob Sherwin, Revlon CMO Martine Williamson, and Kate Spade CMO Jenny Campbell said the changes have primarily come from consumers, who — thanks in part to the COVID-19 pandemic — have shifted how they consume and shop.
"The last two years have really accelerated the different forms in which we could talk to customers," Sherwin said, adding the pace of change in consumers' preference in their consumption of media has been stark.
Williamson said consumer behavior globally has really shifted, with lasting effect. There's now a need for many new touchpoints, and marketers have to speak to consumers differently within each channel.
She said another change has been in the way consumers think about sustainability, ethics and transparency; they're paying more attention and speaking up about how products are sourced, packaged and shipped, what ingredients are used, and more.
Campbell, who began as Kate Spade's CMO in November 2020, said she's noticed changes in the conversations C-suite executives are having. Topics such as company culture, social impact, talent acquisition and retention, and mental health are all at the forefront of leaders' minds.
"We talk a lot around, 'How do our outsides match our insides?'" said Campbell.
The three CMOs agreed that testing has been imperative during this shifting landscape. They've been setting aside marketing budget that isn't necessarily going to see a high return because there's a need to test — in the metaverse, in different channels, in bringing the physical and digital world together, and more.
"Our job is not to chase trends," Campbell noted.