Richard McBeath 🧑‍✈️

My hot take on strategy and KPIs is that the only KPI that matters for strategists is that your client chooses to work with you again. I've seen strategists stumble over themselves negotiating ways to measure the effectiveness of their work - trying to sell in dashboards or brand tracking studies, or finagle access to customer data from a reluctant analytics lead. It rarely works (unless it's already part of the SOW), and even when it does and you get the data - are you 100% confident it's going to tell the story you want? The truth is that the impact of most of what we do is unknowable - to us and to the client. The job of strategy isn't really to drive results (I know that sounds like heresy but stay with me) - the job of strategy is to inspire the confidence to drive action. If the results do come, sure you can make the case that the strategy played a part. But so did the creative idea. And the execution. And timing. And whatever competitors did or didn't do. And that fluke influencer video that mentioned the brand and went viral at the same time which we had nothing to do with. And the Fed's decision on interest rates. Do we know for sure the results are as good as they were because of our strategy? We do not. So if client success is our metric, we can never know if our strategy was successful or not. But more often than not the results are vague - especially in the near-term. That's ok - because they're as vague for the client as they are for us. If client satisfaction is our metric, we do know if we've been successful or not. The client tells us, by asking us to go again. And once we realize this is our KPI, it changes the way we approach the work. We see relationship with the client as important a part of the work as the campaign or product or innovation. It helps us work with the client, not for the client (or even against the client - be honest, you know what I mean). I am making an assumption here - that the strategist wants a successful career. As strategists ascend in their career (ie, get more expensive) most agencies expect them to have a demonstrable impact on the business. A client-centric KPI helps strategists realize that they're responsible for driving growth - not client growth, but agency growth. And it sets them up to do exactly that.

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In 60 minutes, I’ll give you a crash course on how strategists can use ChatGPT to write strategy, find insights, and create benefit ladders. I’ll also reveal my 10 best question prompts. Sign up here 👉 https://lnkd.in/gpS8-4Ae

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This media plan is cruising at $0.01 CPV on 9,000,000 views 🤯 Traditional digital media agencies no longer have “buying power” 📵 The future belongs to independent agencies that move quick, lock arms with partners and their teams, and engineering creative to move through algorithms because of a deep understanding of DSPs, Social Algorithms, and how Creative and Production techniques become an ROI multiplier. Our team at COOMER is getting used to seeing mass organic / viral growth because of our unique approach… but this one is insane so I had to share the raw data 🚀

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New Open Market episode featuring Jay Friedman, CEO of Goodway Group. This one’s packed with insights for anyone in ad tech, agencies, or media. Key Highlights: -Why Jay believes marketing belongs at the top of the boardroom agenda. -Goodway Group's incredible 95-year history and evolution. -How Jay’s perspective on remote work has shifted. -The critical role of incrementality in proving marketing’s value. -Smart advice for ad tech CEOs on how to effectively sell to agencies. As always, expertly guided by Joe Zappa. Check it out—link in comments.

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Love it. Brand comes to life in four ways: expression, customer experience, employee experience and product experience. Too often, we see elements of brand expression and the entirety of product experience ~~> customer experience of the product moved out of or forgotten by the marketing department.

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While there’s been fear mongering about an impending AI bubble burst, the ad spend for AI products and services in 2024 would say otherwise. Companies spent over $107M on AI-related ads in H1—19X more than last year and heavyweights like IBM, Microsoft, and GoDaddy led the charge, accounting for nearly half of the total spend. TV and online video dominated, but paid social and digital display ads weren't far behind. The Olympics served as a prime showcase, with Microsoft’s Copilot ad inspiring viewers by integrating AI into the daily lives of athletes. Google and Intel Corporation also made their mark, using AI to enhance both the fan experience and broadcast quality. AI isn’t just a trend; it’s transforming industries and redefining how we connect with technology. Take a look at the fantastic industry overview from Marty Swant of Digiday. #AI #MarTech #DigitalMarketing #AIAdvertising #Innovation #Olympics2024

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I want to talk about an Apple ad, no, not "that one", instead this one below from 1997, a classic that should be the anthem and manifesto for advertising & creative agencies today. The big agencies, and many medium-sized ones, seem to have lost or are fast losing, the rebels and the crazy ones.   Agencies were once home to the misfits and malcontents who would come up with some wild thinking that would push the needle for a brand. Safe was once the worst four-letter word you could use in an agency. “If you feel safe in the area you’re working in, you’re not working in the right area. Always go a little further into the water than you feel you’re capable of being in. Go a little bit out of your depth. And when you don’t feel that your feet are quite touching the bottom, you’re just about in the right place to do something exciting.” - David Bowie Many agencies have been doggedly focused on the bottom line while being steered by non-creative leadership, forgetting the lines they used to cross to unearth better ideas and creative thinking. The very things that separated them from merely being consultants. Oh, and the consultants caught onto this lapse in reasoning and jumped in to offer creative solutions. Big ad agencies seem really good at creating their own competition, and they still have not learned their lesson. So many talented creative people have been shown the exit door and others kicked the door open themselves and departed, mainly due to frustration and creative dissatisfaction. Some have chosen to start micro-creative outfits that are popping up worldwide. There seems to be a new one every week joining the roster of those who led the charge a few years ago. And, as I have written previously, I believe clients have had enough too. The old agency model isn't working. Revisit that classic scene from the 1976 movie - ‘Network’, where the TV news anchor Howard Beale (played by Peter Finch) vents his anger and frustration. It could easily be screamed from many agency office windows today, even client windows. Here’s an excerpt. “I want you to get up right now. Sit up. Go to your windows. Open them and stick your head out and yell – ‘I’m as mad as hell and I’m not gonna take this anymore!’ Things have got to change. But first, you’ve gotta get mad!…You’ve got to say, ‘I’m as mad as hell, and I’m not gonna take this anymore!’ Then we’ll figure out what to do about the depression and the inflation and the oil crisis. But first, get up out of your chairs, open the window, stick your head out, and yell, and say it: ‘I’m as mad as hell, and I’m not gonna take this anymore!" We need more rebels, more pirates, and more different points of view. This Apple ad sums it up well, it should be used as inspiration by many. And the more misfits, round pegs in square holes, and crazy ones we get, the better. ⚡⚡ ⚡ ⚡ ⚡⚡ ⚡ ⚡⚡⚡ ⚡ ⚡ ⚡⚡ ⚡ ⚡⚡⚡ ⚡ ⚡ ⚡⚡ ⚡ ⚡ #advertising #cmo #brands #creativeagency #advertisingagency #apple #crazyones

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“Thank goodness events are working again,” shared a relieved CMO from a $60m SaaS company. Then other CMOs in the huddle offered variations on this theme. 🐧 The collective relief was palpable. Several important insights emerged. I’ll get to the event-related insights. But there’s a bigger fish to fry first. And that’s the general unease that exists among B2B CMOs right now. The demand gen playbooks that many rely upon have hit a wall. CMOs are grumbling about the costs of once-vaunted ABM tools relative to the value delivered. In reality, macroeconomic factors like higher interest rates have lowered the purchasing tide for most marketing boats. Whether or not you blame the economy or the playbooks, B2B CMOs are in a funk. And that’s a problem too. CMOs, like spiritual leaders, need to project confidence. Given the typical lag time between action and impact, great marketing requires a leap of faith. And before the attribution junkies get out your darts, allow me to explain. 🐧 Great marketers transform businesses. They uncover the insights that drive the ideas that differentiate the brand inside and out. They fix broken go-to-market strategies. They tell the stories that motivate employees and rally customers. They build the tools that make it easier for prospects to justify purchases. They bring focus. And yes, they drive pipeline and revenue. But not without a significant lag time between these actions and their related impact. 🐧 Okay, pep talk over. Back to events. For the relieved SaaS CMO, their events were not trade shows or bespoke dinners. They weren’t even intended to drive net new revenue. Instead, this company held educational seminars at the offices of their largest customers. Like many SaaS providers, they knew their customers weren’t always using their software to its fullest potential. Fixing this would increase customer satisfaction and lower churn. 🐧 But a funny thing happened along the way. Other employees showed up. And, when they felt their peers' excitement, they requested licenses too. Suddenly a retention effort became an acquisition campaign. “These events have become our most effective revenue drivers,” exclaimed the CMO, “which is huge since doing these events is not cheap!” Other CMOs noted that events were similarly working for them. “We’ve been doing roadshows in our top markets,” shared a CMO from a $750m cybersecurity firm. “Most of the attendees are our customers and they do all of the selling to the prospects who join us,” the CMO declared. Part of the story is that work-from-home execs crave in-person contact with peers. But the bigger message is that investments in retention can double as acquisition vehicles. Marketing is rarely a straight line from action to intended impact. But then again, neither are most B2B purchase journeys. You can do no wrong by doing right by your customers. They will sustain you during challenging economic times. In the meantime, keep the faith. 

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The degree to which Google shakes down advertisers would make Al Capone blush. With the announcement that video action campaigns are being rolled into demand gen, it's worth sharing a piece I wrote a year and a half ago on how Google robs advertisers. Demand gen has minimal adoption because it's a half-baked product with mediocre at best performance. Video action campaigns (YT performance) are great. We spend over $1mm/mo on them. As Google as done with PMax and hiding search queries, they are doing with YouTube ads and that is making them less effective for advertisers so that Google itself can make more money. It's another important reminder that Google does NOT have advertiser's best interests at heart and if you're working with an agency that trusts Google implicitly you're getting absolutely fleeced. https://lnkd.in/gWVuJfbE

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To all CMOs in transition: You did not wake up and become bad at marketing. It's just a tough market. The transition process can feel demoralizing and, at times, degrading. I was quite surprised to hear that some PE firms are asking CMO candidates to take The Wunderlic Test, a cognitive ability assessment that dates back to 1939. 50 multiple choice questions. 12 minutes. Recognizing this, we’ve revamped the CMO Huddles Transition Team in a significant way, to include: 🐧 2 Transition Team Huddles per month (with a refined agenda) 🐧 A 6-step process 🐧 More resources (i.e. SEO audit, personal brand audit) 🐧 More access to the CMO Huddles community 🐧 More intros and referrals 🐧 More emotional support Our goal is to give you an ongoing support group we’ll call “Huddle Buddies.” With more frequent Huddles, you’ll build closer bonds. You’ll have “buddies” to review resumes, cover letters, and presentations. You can work together on interview techniques and have access to subject matter experts. Importantly, you will never feel alone in your search. And maybe we can make it a little bit of fun while we’re at it (see penguin hat). We have a free 1-month trial if you want to try it out. You can sign up / learn more via cmohuddles.com. 

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The hype cycle continues to play out to a tee. Just as the framework suggests the lack of silver bullet outcomes causes those who lack historical context, experience with technology or both to bail out because (insert irrational rationalization). There will be a lull and even a subsidence after which the truly productive applications begin to surface. Historical context, however, means asking not whether the hype cycle would carry out its mission (that was always a foregone conclusion). It was whether or not we are heading into a fifth AI Winter which would be a much bigger deal. Most mid term business transformation growth driver assumptions are predicated on significant demand for AI infrastructure research, development and delivery. Hype cycle = economic hiccup. Fifth AI Winter = economic catastrophe. My money is on the following: 1. The ensuing, near-inevitable AI category slowdown that's just now starting to show its head will force most, if not all, to admit Generative AI (GAI) is not only not about to become sentient Artificial General Intelligence (AGI) but it may never get better than it is today. Several notable AI luminaries have postulated how GAI will give way to another version of the technology that will provide the real breakthrough which makes more sense. Sam Altman will become yesterday's news replaced by someone who wears a similar hoodie. 2. There will be hard to explain disconnects with parts of the AI category slowing considerably (venture funding and service companies) with others humming along (semiconductor and data centers). Many will speculate how this could be the result of a rush to embrace the potential of Quantum Computing ignoring the fact that technology is not only nascent and unproven commercially but also running on radically different hardware. The reality will be how GAI has been productive for companies in terms of automating certain parts of the workforce and, now that they have a taste for that sort of efficiency, are happy to spend more. They just don't want to advertise it because the idea of automating said processes in a time of higher unemployment just looks bad. 3. The resulting sobriety spreading across companies will also force many to admit how synthetic data is not a solution to the data deficiencies they faced as they worked to satisfy insistent stakeholders and wall street pundits asking when they would take advantage of GAI. This will then focus them on the question of, "well, what data do we need? And how do we get it?" This will push managers towards third party data providers like never before but the limitations inherent to the data ownability and quality will force them finally stop fantasizing about a "360 degree view of the customer" and instead focus on the idea of 1:1 relationships "at scale." You will be free to roll your eyes at that as well but don't let them see you as they've got a tough job. The inherent lesson here is just to jump to #3. Of course I could be wrong.

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This is so powerful and accurate. Brands who invest all their ad dollars with Meta and Google, listen up. "Anyone who relies completely on performance media, their margins will eventually go to zero because someone else will pop up that has more margin to spend on advertising” “The only way to reduce customer acquisition costs over time is brand. And you can't measure brand on a short feedback loop." This should be a warning sign for brands that prioritize purely short term sales over brand building. Sales may look good in the short-term but you’re slowly making yourself irrelevant to future generations. This is why working with media partners such as Narcity Media Group is essential to your business. We combine performance with powerful brand storytelling to maximize short term sales and long term brand growth. DM me if you want to get started ✌️

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Looking beyond the AI Hype cycle: Investment insights for CMOs. As AI hype grows, many startups are emerging/will emerge with superficial solutions that are merely wrappers, primarily using ChatGPT / Claude and similar models. It is almost a given that any modern martech / adtech play today needs AI plastered on it. And that's not a bad thing. It's just part of the adoption cycle. Given that data is the fuel for AI, those solutions that have vast data and user bases will thrive. Think OpenAI, Anthropic, Google Bard etc..and most marketing use cases can be folded into any of these offerings. Does this mean there won't be any unique, niche AI solutions? No. What is sure is that most 'opportunistic wrappers' will be wrapped up into the larger model fold. What is key for marketers is to fully experiment with the myriad of wrappers that are flooding the market but know full well that your investments must be rooted in solid real-world value that is sustainable in the long-term. Think of the current crop of solutions as your sandbox. Play. Experiment. Understand. So you can be well informed, your team well equipped and ready to choose right when you are ready to write that big check. #AI #Marketing #CMO (image via ChatGTP 4o)

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3 open source MMMs for $50/month? Join the brands and agencies with more than $10bn in revenue that have already joined the waitlist. https://lnkd.in/gwtmpgDZ Yes you read that right. With Daypart.AI the AI media buying co-pilot we're making it easy to get started with advanced measurement for everyone. First month free if you join the prelaunch waitlist. Relying on pixels is no longer a viable path forward for anyone. If you aren't using some sort of holistic measurement model you are actively falling behind and possibly moving backwards. I feel passionately that basically everyone should be using an MMM or similar sort of model. At day part we're building an overall media buying co-pilot but one of the biggest and most important pieces of that is having a source of truth that you can trust. The problem? Every company selling MMMs is basically asking you to trust their black box and it's super expensive. So we took three of the most popular open source models from Google, Meta, and Uber and we're making them super cheap and easy to get started with. We're setting up these tools with out of the box oauth integrations so anyone can get started and fast. Will this be perfect? Not even close. Are there better proprietary models out there? Probably and we want to integrate with them too eventually. However this is just a great way to get started for nearly anyone to learn how to think about using an MMM and as a gut check. My hope is that we eventually integrate with everything and line them up so people can compare sources of truth and optimize based off of the one that makes the most sense to them and mirrors their reality the most closely. The goal here is accessibility and upleveling everyone!

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Imagine you can simulate with AI agents a discussion Kamala Harris vs. Donald Trump. You simply pick a LLM for each candidate from 6 options to choose from. I picked ChatGPT-4o for both candidates. Then you pick a 3rd LLM to moderate both, which I let Claude 3.5 Sonnet do. You can freely type in any topic to discuss. I choose "North Korea". And off they go! 🤣 Link to website in the comments. #AI #LLM #Agents #Harris #Trump #PresidentalElection

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Great ads don't need to sell. They nail the story. Here are the 6 fundamentals Dell mastered in their AI ad and you need to get right in a storytelling ad: 1. Strong visual 3-second hook that opens a loop - If you couldn't use words, how could you set the scene? Example: Dell used getting something out of the kitchen cupboard (a relatable thing to do) but opened the loop of "What's Dell got to do with recipes?" 2. The emotional connection - What or who does the prospect truly deeply care about? Example: Dell played heavily on family and grandparents, something most of us cherish. 3. A short and clear narrative   - What’s your hook, middle, and end? Example: Dell has a clear hook, middle, end, and CTA back to the brand, all in 30 seconds. 4. Cinematic background music How does it make you feel when you listen to it? Example: Music evokes emotion in us, so Dell uses it to make us feel like we're watching a movie. One study found that ads with music could increase ad recall by as much as 24%. 5. Authentic and relatable use case - How can you make prospects relate to your product? Example: Dell turning something most find confusing (AI) into a reliable use case that again evokes emotion. 6. Carefully integrate the brand - How can you connect everything back to your brand? Example: Dell only shows their product being used for 5 seconds out of 30 and doesn’t even show it for the first 15 seconds but brings it all back at the end. Writing a capturing narrative is hard. Fair play, Dell Technologies nailed it making AI more relatable 👏

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For media tech SaaS startups, strategic capital expenditure (CAPEX) planning over 5 years is crucial for long-term growth and sustainability. Here's a breakdown to guide your financial roadmap: 🔹 Infrastructure Investments: Prioritize scalability with services like AWS or Google Cloud to handle future growth without a hefty upfront cost. 🔹 Product Development: Plan for annual upgrades to stay ahead of the curve and enhance user experience (UX). 🔹 Tech Stack & Integration: Budget for integrating AI/ML tools, analytics platforms, and third-party APIs to enhance your product's functionality. 🔹 Talent Acquisition: Hiring top tech talent is key—skilled teams drive innovation and product success. 🔹 Compliance & Licensing: Plan for compliance-related CAPEX, including licensing fees, data protection protocols, and IP management. With smart CAPEX allocation, media tech SaaS startups can stay competitive, deliver consistent value, and position themselves for long-term success. Plan now to grow tomorrow! 📈 #SaaS #MediaTech #StartupGrowth #CAPEX #Innovation #TechStartups

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Fact: advertisers will just pay agencies to use an AI-powered planning tool on their behalf. This is why gen AI and LLMs won't put agencies out of business. "But the agencies will fire 75% of their staff!" Nope. Wrong. The agency will take the freed-up staff resources and sell the client more of something different. Net-net the agency business won't be adversely affected. The mix of services agencies offer and the way agencies manage their own overhead costs will evolve over time, as they always have. https://lnkd.in/g9Z4eQZU

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