The question is what happened to the CMO of Budweiser's parent company? How bad do you have to be at your job if you can't sell beer to Americans. They destroyed their business.
There's always a conflict with Marketing and Sales. Sales will blame Marketing if they don't get the results they want. Marketing can feel like a bigger gamble than sales, so it's easy for companies to put the blame on them.
@@Yangmang if marketing and sales are conflicting with each other. Then you either have bad management or a poor strategy. They should be loving each other
The CMO at my last job made the DUMBEST marketing plan possible. She made our go to influencers lil nas x and Lizzie. I shit you not. I wish I was joking…
That's exactly what the Olympics did just on a way bigger scale. It's not dumb. Maybe not effective, but your company hired a woke marketing person. They should've consulted that person about the plan BEFORE hiring to make sure ideals line up. But, something not working and something not being what YOU would have done doesn't make it dumb. Did it work?
I'd have to know what your business does and who they serve to know that's a bad decision. Just because those people are detestable doesn't mean they don't have wide appeal. Most influencers are disappointing people so it isn't saying much
@okcquilter they actually can be very helpful if have a talented person in the right industry. I think what PBD was actually very helpful and insightful. Don't go into a MARKET you aren't familiar with if you are in charge of MARKETING. I think tying them to growth and revenue is actually a brilliant idea. It gives them a measurable KPI to be measured by.... People in marketing have to know a little about every aspect of the business. This helps them understand which demographic they need to segment for their customer base.
@@okcquilter now.... a CDEIO or CESGO shouldn't ever be considered for a position... those are a waste of money and resources and bring nothing but destruction to an organization
Thank you PBD!!!! This is a FIRE video and breakdown of hiring a C-level talent. Obviously it’s geared to a CMO, but I can tease out a lot good advice for a CTO. Thank you! 😊
THANKS!.. I work in small bussiness, and the clerk person is allways the client service and the marketer at the same time; never understood what CMO standed for.
There are 3 main functions that a business needs to grow and scale… 1) Sales/Marketing 2) Operations 3) Accounting/Finance The businesses that go from successful to VERY successful are the ones that excel in all of these areas.
I'm lost, how can you expect to see immediate results from CMO's? It take time to reorganize the marketing department, brainstorm marketing ideas, implementation and execution of the marketing strategy. Allow exposure to the targeted demographic and time to see results. 4-6 months seems reasonable and expectation of continuing success.
You can see leading indicators immediately but overall, you’re not wrong. I think his point was you need to recognize what kind of business you’re working for. Some will be fine with a 6-month grace period. Some can’t afford that.
@@fabsmaster5309 just knowing that it sounds like the business who can't wait 6 months likely doesn't have a solid strategy, so starting there to create a plan would be the first step
A better CMO will set priorities and do not change the whole marketing system that is already giving some sales and results. The real challenge is to maintain the flow of revenue and reform marketing, so company do not suffer!
Hi Pat, are you aware of the 95-5 rule? It’s a marketing heuristic which states that at any given time, 95% of category buyers are not actively in the market ready to buy. The exact figures can be calculated with consumer purchasing data. I.e. I found for my product category on an average week, about 90% of category buyers are not actively in market. There’s marketing activity we do to reach the 90% and marketing activities we do to reach the 10%. Reaching the 90% is playing the long game, and hitting people with ad exposure so that when they do enter the category, they have an increased probability of choosing your brand or product. The ROI for that won’t show up in next month’s sales, but there’s other things CMOs can do to hold themselves accountable for those activities in the short term (experiments, optimization of budget, measurement, etc.)
@@Vashist1 it’s a constant battle explaining this to CFOs and CEOs. The reality is most marketing people are also full of shit, but expecting immediate results from brand marketing is not reasonable and potentially harmful
@@driedmango1914 Yeah, but how can one even think about brand marketing with such a short sighted vision? People like Patrick should go all in on performance marketing and just forget about the rest
@@Vashist1 good point. Part of the job of a good marketing person is explaining the value of brand in terms that relate back to revenue and profit. But I hear your point. It’s a competitive market at the end of the day, and CEOs who are overly short term will lose out.
I’ve worked in digital marketing for 20 years, never made it to the c-level, but damn they’re close. I always told my CEOs the story about the owner of Woolworths. He said I waste half of my money on advertising I just don’t know which half. There’s a lot of fakers in my business
Very informative video for any small business owner. Lots to consider when hiring, and hearing how you do it brings a new perspective. We interview first as owners, then bring the rest of the staff in to evaluate. Results in no drama at the office, happy employees, and ownership or "buy in." Less micro and more big picture direction required makes running the business easier on us.
Any executive, CMO’s included, should build their teams up and give them all of the credit for success. A warning sign is when you have an executive taking credits for things instead of giving credit to his team, even if he was the primary reason for the success. That’s just a sign of poor leadership.
You hit it with the R/L Brain deal with CEOs. Some are great sales people, but at the F500 level, you don't find many CEOs who are also the chief salesperson.
Indeed, it is true that I have spoken with a brokerage advisor CEO. My adviser selects the entry and exit commands for my portfolio, which has grown to over $550k, from an original starting reserve of $80k.
Yes! I'm celebrating £32K stock portfolio today... Started this journey with £5K.... I've invested no time and also with the right terms, now I have time for my family an...
It's a miracle and I would testify, 543K bucks every 2weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
It makes sense, the job of a CEO is to please the shareholders. That’s it. Nowadays no one cares about profits, they only care about investments, most of big companies are nothing more than Ponzi schemes. Shareholders are happy and invest more when the shares are rising, so most of the CEO’s do their best to make the share price rise. Best for a CEO position in this scenario is someone with financial or operational background for sure. But for the companies that don’t rely on pleasing shareholders and for which it actually matters to have profits (companies which are in minority today), I think the more value is going to be brought by a very good CMO rather than the financial background guys.
CMOs in general deal with more uncertainty than their peers since the main focus is in the market which is by becoming more and more volatile and dynamic. Also, the heart of a company is in its products, brand, go to market and sales. This is the immediate health termometer of any company and most of these responsibilities belongs to the CMO. It's pretty hard be in this position nowadays.
I just earned my MBA and I definitely did not hear this about CEOs in my Marketing class. I heard a lot of CEOs have marketing backgrounds because they have a very broad knowledge of what your company does.
The way I see it as a business owner and marketer first, people who are into marketing are not good at that however I also see that if a CEO is a good marketer then he will completely smoke his competition like Steve Jobs for example.
Well, a quick question Pat… if the CMOs are not getting credit through sales, growth, or revenue, how they are getting credit then.. or how they are classified as good CMOs if not because pf those three factors
Marketing is on the verge of being fully automated via next gen AI. No need to hire marketers for the most part. Some of the least capable executives I have met were CMOs.
The fact that all of these c-suite employees only average around 5 years should say a lot. Unless the person came up through the ranks, it is very unlikely that anyone would have mastery of the business within just 5 years.
This is a relevant discussion to have, because it has a lot to do with the vacant bonafide of marketing executives, companies would rather hire or upgrade what can be lateral... Trust me when I tell you, my career has been a hodgepodge. 35 year work career, 25 in management... 15 at the executive level, economies dictate a lot of who lasts. But it is true, CMOs are one of the first middle managers to get axed - almost anybody can do their job.
Where is the CDO? Chief Design Officer…no, you hire failed Designers that go into B-school because it’s easy; then they try and manage your product design without any respect or commonality with Creatives/Engineers. They will fail. Keyword: Industrial Designer
Patrick first needs to define CMO. I had to basically pause the video go to Google and do a search for CMO and then come back to this video and unpause.
CMO's are like prophets. The future is uncertain. Bang for the buck is impossible to measure, we have to wait for the outcomes to manifest. In complex systems we don't create solutions, we use multiple safe to fail experiments and look for a promising direction.
Sales lol I remember the first day my mentor said a good sales man can sell farts in a bad. A great salesman has repeat customers. Sales is almost void of a product. The customer buys you the confidence man. Sales is the legal representation of the conman. They build confidence for them inside your mind. Once at a red button point or other sales que's you close. Some items like insurance is a easy close, try selling vacuums door to door at 2000 usd and actually make 5k a week but that was some time ago. Marketing with a actual budget lol cake work
![Gunna - HIM ALL ALONG [Official Visualizer]](http://i.ytimg.com/vi/HiCxoDeo0hc/mqdefault.jpg)
i miss this content !!!!
make more of these please i dont think you understand how helpful your educational /Bussiness content is !!!!
I like the PDF as well.
The question is what happened to the CMO of Budweiser's parent company? How bad do you have to be at your job if you can't sell beer to Americans. They destroyed their business.
DEI = DlE
CEO = Chief Executive Officer
CMO = Chief Marketing Officer
CFO = Chief Financial Officer
COO = Chief Of Operations (😅The Boss at the top who is at the facility longer hours than the office workers)
thanks
Thank you
Thank you sir!
CTO - Chief Technology Officer
CCO - Chief Creative Officer
Recognizing team members with great ideas is not just something that CMOs should be keen on. Every C suite member should be doing this.
A good cmo who knows how to develop business growth, is worth its weight in gold!
Or platinum
CMOs can make or break everyone else’s hard work, Bud Light is a prime example
There's always a conflict with Marketing and Sales. Sales will blame Marketing if they don't get the results they want. Marketing can feel like a bigger gamble than sales, so it's easy for companies to put the blame on them.
@@Yangmang if marketing and sales are conflicting with each other. Then you either have bad management or a poor strategy. They should be loving each other
@@donh1572two sides of the same coin.
Wish PBD continued talking about this type of stuff
Valuetainment was built on this. Now, its mostly just Mondays. Check out his old content with the chalkboards. Goodstuff
He talks too fast for me, I’m exhausted!
Hear, hear.
@@laumay7364dopamine
Love how you offer insight from both sides of the table! Awesome breakdown.
Love the business content Pat. More of this please.
Sir, please also make a video on VP of Sales & CSO.
The CMO at my last job made the DUMBEST marketing plan possible. She made our go to influencers lil nas x and Lizzie. I shit you not. I wish I was joking…
😂😂😂😂
That's exactly what the Olympics did just on a way bigger scale. It's not dumb. Maybe not effective, but your company hired a woke marketing person. They should've consulted that person about the plan BEFORE hiring to make sure ideals line up. But, something not working and something not being what YOU would have done doesn't make it dumb. Did it work?
Women ☕
@@kcb8130hahaha
I'd have to know what your business does and who they serve to know that's a bad decision. Just because those people are detestable doesn't mean they don't have wide appeal. Most influencers are disappointing people so it isn't saying much
I dont even know what a CMO is and honestly have no idea why im watching a video about a job pisition ill never have.
Chief Marketing Officer.
^this 😂
OOOOh, Okay. There's where your esg and dei come into play. Give them real jobs or fire them ✌️
@okcquilter they actually can be very helpful if have a talented person in the right industry. I think what PBD was actually very helpful and insightful. Don't go into a MARKET you aren't familiar with if you are in charge of MARKETING. I think tying them to growth and revenue is actually a brilliant idea. It gives them a measurable KPI to be measured by....
People in marketing have to know a little about every aspect of the business. This helps them understand which demographic they need to segment for their customer base.
@@okcquilter now.... a CDEIO or CESGO shouldn't ever be considered for a position... those are a waste of money and resources and bring nothing but destruction to an organization
Thank you PBD!!!! This is a FIRE video and breakdown of hiring a C-level talent. Obviously it’s geared to a CMO, but I can tease out a lot good advice for a CTO. Thank you! 😊
MORE OF THIS, PBD.
Patrick if you're reading this I need you to know that you're the best content on youtube right now
THANKS!.. I work in small bussiness, and the clerk person is allways the client service and the marketer at the same time; never understood what CMO standed for.
There are 3 main functions that a business needs to grow and scale…
1) Sales/Marketing
2) Operations
3) Accounting/Finance
The businesses that go from successful to VERY successful are the ones that excel in all of these areas.
I'm lost, how can you expect to see immediate results from CMO's? It take time to reorganize the marketing department, brainstorm marketing ideas, implementation and execution of the marketing strategy. Allow exposure to the targeted demographic and time to see results. 4-6 months seems reasonable and expectation of continuing success.
You can see leading indicators immediately but overall, you’re not wrong. I think his point was you need to recognize what kind of business you’re working for. Some will be fine with a 6-month grace period. Some can’t afford that.
Exactly, man's clearly desperate for growth. Still can't pin it on one guy though
@@fabsmaster5309 just knowing that it sounds like the business who can't wait 6 months likely doesn't have a solid strategy, so starting there to create a plan would be the first step
A better CMO will set priorities and do not change the whole marketing system that is already giving some sales and results. The real challenge is to maintain the flow of revenue and reform marketing, so company do not suffer!
These are such insightful questions and valuable strategies to consider for increasing the probability of success!
Thank you for sharing Pat! 🙌😉
I like this PBD better than the political PBD
I work for more than 15 years in this industry... Most CMOs are waste of budget 😂😂
Yep. Negative ROI.
What industry? Did he specify an industry?
In some ways, the best CMO has FP&A giving them the data they need to succeed
Then how are you going to create ads without CMO? you need one
@@JingJaodon't need a chief marketing officer to create ads and monitor performance. Can do that, almost fully automated, at much cheaper
most business do not understand the value of marketing done right
Hi Pat, are you aware of the 95-5 rule? It’s a marketing heuristic which states that at any given time, 95% of category buyers are not actively in the market ready to buy. The exact figures can be calculated with consumer purchasing data. I.e. I found for my product category on an average week, about 90% of category buyers are not actively in market. There’s marketing activity we do to reach the 90% and marketing activities we do to reach the 10%. Reaching the 90% is playing the long game, and hitting people with ad exposure so that when they do enter the category, they have an increased probability of choosing your brand or product. The ROI for that won’t show up in next month’s sales, but there’s other things CMOs can do to hold themselves accountable for those activities in the short term (experiments, optimization of budget, measurement, etc.)
But this dude thinks nurturing is just some lazy shit
@@Vashist1 it’s a constant battle explaining this to CFOs and CEOs. The reality is most marketing people are also full of shit, but expecting immediate results from brand marketing is not reasonable and potentially harmful
@@driedmango1914 Yeah, but how can one even think about brand marketing with such a short sighted vision? People like Patrick should go all in on performance marketing and just forget about the rest
@@Vashist1 good point. Part of the job of a good marketing person is explaining the value of brand in terms that relate back to revenue and profit. But I hear your point. It’s a competitive market at the end of the day, and CEOs who are overly short term will lose out.
Never thought I’d find a fellow Ehrenberger in a RUclips comment section 😂
i wish i could talk as fast as PBD. Guy speaks multiple languages AND speaks English better and faster than me!!!
I’ve worked in digital marketing for 20 years, never made it to the c-level, but damn they’re close.
I always told my CEOs the story about the owner of Woolworths. He said I waste half of my money on advertising I just don’t know which half.
There’s a lot of fakers in my business
Once you have the knowledge and experience to become a CMO, start an agency. You literally have the skills and built the credibility.
Plus fractional CMOs are popular and less risky for smaller businesses but with all the benefits AND the agency can service multiple clients
Some of your content is hit or miss, but this is very good advice. Only takeaway, drill down more on when to hire what type of CMO.
Very informative video for any small business owner. Lots to consider when hiring, and hearing how you do it brings a new perspective. We interview first as owners, then bring the rest of the staff in to evaluate. Results in no drama at the office, happy employees, and ownership or "buy in." Less micro and more big picture direction required makes running the business easier on us.
CMO. Great job Pat David.
CMO are the easiest to blame for issues lol
The problem is real and reflects that many marketing leaders are still living in the dark ages. Makes my competition easier to deal with
Any executive, CMO’s included, should build their teams up and give them all of the credit for success.
A warning sign is when you have an executive taking credits for things instead of giving credit to his team, even if he was the primary reason for the success.
That’s just a sign of poor leadership.
Thank you sir
Minor correction: Brady Brewer is not the ceo of Starbucks… he’s the International Division’s CEO… the real ceo is another guy named Laxman Narasimhan
They're basically a paid pocket scapegoat.
You hit it with the R/L Brain deal with CEOs. Some are great sales people, but at the F500 level, you don't find many CEOs who are also the chief salesperson.
I hope in the next podcast you're gonna speak about the Olympic ceremony
My pet peeve is someone who takes credit for the work or ideas of others. I have been burned many times.
Patrick has such good business judgment and experience. I'm on the finance side of the business but it was worth hearing the insights of a CEO.
The probability to find a Dark Tetrad type individual is highest in CMO.
Indeed, it is true that I have spoken with a brokerage advisor CEO. My adviser selects the entry and exit commands for my portfolio, which has grown to over $550k, from an original starting reserve of $80k.
Thanks Lee Davis
You trade with Lee Davis too? Wow that man has been a blessing to me and my family.
Yes! I'm celebrating £32K stock portfolio today...
Started this journey with £5K.... I've invested no time and also with the right terms, now I have time for my family an...
I'm surprised that this name is being mentioned here, I stumbled upon one of him clients testimony on CNBC news last week.
It's a miracle and I would testify, 543K bucks
every 2weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
Curious to know what prompted this discussion....
Thanks!
Great content as always!
Great video!
How do we become the cmo? Let’s start there
Do you have a CMO pat? This this a message to them?
It makes sense, the job of a CEO is to please the shareholders. That’s it.
Nowadays no one cares about profits, they only care about investments, most of big companies are nothing more than Ponzi schemes.
Shareholders are happy and invest more when the shares are rising, so most of the CEO’s do their best to make the share price rise.
Best for a CEO position in this scenario is someone with financial or operational background for sure.
But for the companies that don’t rely on pleasing shareholders and for which it actually matters to have profits (companies which are in minority today), I think the more value is going to be brought by a very good CMO rather than the financial background guys.
Great video!
I work in life scienes. I almost thought you meant Chief Medical Officers. Was about to scream "this cant be true!" 😅
My uncle was a CFO of a military contractor until they replaced the CEO lol
They have lobbying firms instead of marketing agencies, so it makes sense they wouldn’t care much about a CMO lol
CMOs in general deal with more uncertainty than their peers since the main focus is in the market which is by becoming more and more volatile and dynamic. Also, the heart of a company is in its products, brand, go to market and sales. This is the immediate health termometer of any company and most of these responsibilities belongs to the CMO. It's pretty hard be in this position nowadays.
CMO is a job of the past 😮
Just like retail cashiers
@@michaelsaintz yeah and most jobs these days
That’s why CMO’s are being replaced by CRO’s (Chief Revenue Officers)
I just earned my MBA and I definitely did not hear this about CEOs in my Marketing class. I heard a lot of CEOs have marketing backgrounds because they have a very broad knowledge of what your company does.
That’s operations.
CMO goes out there to promote company and products.
Steve jobs was a marketer to
Can you make a video about P.R. execs/directors. I see P.R. as a waste of space, am I wrong?
Wow you so kind 😮😢yes this it❤
The way I see it as a business owner and marketer first, people who are into marketing are not good at that however I also see that if a CEO is a good marketer then he will completely smoke his competition like Steve Jobs for example.
Would be nice to see CPOs
Well, a quick question Pat… if the CMOs are not getting credit through sales, growth, or revenue, how they are getting credit then.. or how they are classified as good CMOs if not because pf those three factors
Finally some value-tainment. Refreshing to see some non political content bakc again.
Marketing is very important...how do people even know you exist if you don't market it? Penny pinching in marketing is not the way.
I WAS THINKING TODAY I NEED CMO.. AND THINKING ABOUT WHAT he needs as bagage.. 😂
Marketing is on the verge of being fully automated via next gen AI. No need to hire marketers for the most part. Some of the least capable executives I have met were CMOs.
100% automation in marketing? Never happening. Machines will never truly understand and manipulate emotions like humans do
❤❤❤ Excellent video! Wealth = Human Ingenuity Properly Applied
Sales are a result of the Chief Marketing Officer. Quality is a result of the Chief Quality Officer. It is sprayed on like a clearcoat on a car.
The fact that all of these c-suite employees only average around 5 years should say a lot. Unless the person came up through the ranks, it is very unlikely that anyone would have mastery of the business within just 5 years.
Pat when you bringing Robert Kennedy on the show ?
This is a relevant discussion to have, because it has a lot to do with the vacant bonafide of marketing executives, companies would rather hire or upgrade what can be lateral...
Trust me when I tell you, my career has been a hodgepodge.
35 year work career, 25 in management... 15 at the executive level, economies dictate a lot of who lasts.
But it is true, CMOs are one of the first middle managers to get axed - almost anybody can do their job.
Where is the CDO?
Chief Design Officer…no, you hire failed Designers that go into B-school because it’s easy; then they try and manage your product design without any respect or commonality with Creatives/Engineers. They will fail.
Keyword: Industrial Designer
Big ooof as Starbucks just changed CEO. To another man who had CMO experience though.
As a student who has a bachelor degree in marketing . Im offended 😂😂
It explains why Tesla doesn't have a marketing team.
THe only CMO in the world that ever matters was Steve Jobs. And firing him almost ended Apple
If you want to scare the sh*t out of a marketer, tell them to tie everything they do to revenue. They will dither and make excuses.
Nice
Dauphin River First Nation Manitoba Canada 🇨🇦
Imagine CMOs are like influencers, that is a short lifespan...hahahahaaaa
Did you ever do a history day project
Actually CDOs only make it 3 years on average. They usually resign because of the stress and pressure. I'm curious what the average COO tenure is.
Where do I get your notes?
Patrick first needs to define CMO.
I had to basically pause the video go to Google and do a search for CMO and then come back to this video and unpause.
Me watching this with a re investment company that pays no wages or dividends 🍿
Chipotle CEO may need to claim CMO again soon
CMO Chief Marketing Officer. ADs drive revenue? So, woke go broke. Hershey, BudL, ... how many times did he say "budget" 😂
CEO, CFO, COO has always been the way its been, people who do not understand business make up fake positions. SMH
Who is the cmo he interviewed with. He said we all know who it is but we don’t know who it is
Did PBD just fire his CMO 😮
Golfing Buddy only gets you so far.
The best that can sale and lead will become CEO.
Would you recommend getting into data analytics? 😮
Yes i like it
Didn't Patrick told his CEO he needed a year to show result?
CMO's are like prophets.
The future is uncertain.
Bang for the buck is impossible to measure, we have to wait for the outcomes to manifest.
In complex systems we don't create solutions, we use multiple safe to fail experiments and look for a promising direction.
Sales lol I remember the first day my mentor said a good sales man can sell farts in a bad. A great salesman has repeat customers. Sales is almost void of a product. The customer buys you the confidence man. Sales is the legal representation of the conman. They build confidence for them inside your mind. Once at a red button point or other sales que's you close. Some items like insurance is a easy close, try selling vacuums door to door at 2000 usd and actually make 5k a week but that was some time ago. Marketing with a actual budget lol cake work
I'm a big fan of curiosity and imagination.
I have a very low tolerance for ignorance and apathy.
First time hearing about a CMO 😂
Marketing is a soft skill and not really that important.
You don’t know what you’re talking about.
🧢
Schneider Ports