Classic Brand Marketing with Chelsea Sumrow, First American Title and Insurance CMO
Oct 8, 2024
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Chelsea Sumrow, CMO of First American Title and Insurance, brings over 25 years of marketing expertise to the table. She discusses the unique challenge of modernizing a 135-year-old brand while honoring its heritage. Chelsea highlights the importance of building revenue attribution models and moving marketing from a cost center to a revenue driver. She emphasizes empowering teams to be data storytellers and the value of brand perception studies in shaping strategy. Prepare for an enlightening conversation filled with insights on balancing innovation and tradition!
Balancing a brand's rich heritage with modern digital strategies is essential for maintaining relevance in today's market.
Repositioning marketing from a cost center to a revenue driver requires collaboration and strong data-driven insights within B2B organizations.
Deep dives
The Importance of Marketing Philosophy
Understanding the core philosophy of marketing within a brand is crucial for effective decision-making. The discussion highlights how marketing leaders must blend traditional values with modern trends to maintain relevance. First American, a historic brand, exemplifies the challenge of balancing a rich legacy with the need for digital transformation. Creating a purpose statement has been a foundational step toward modernizing their brand while respecting its history.
Shifting Perceptions of Marketing Roles
Historically, marketing in large B2B companies has been viewed as a cost center rather than a revenue generator. The conversation emphasizes the ongoing shift at First American to reposition marketing as a key driver of revenue growth. By attributing revenue to marketing activities, the organization aims to demonstrate the value of marketing beyond traditional expectations. This shift involves fostering collaboration within the organization to ensure that marketing efforts align with overall business goals.
Navigating Brand Management Challenges
Managing perceptions for an established brand involves understanding shifting consumer expectations, especially in an age of innovation. The dialogue emphasizes how First American seeks to modernize its branding without losing its authentic identity. By recognizing the importance of digital strategies and lead generation, the company aims to enhance its market position. This approach entails a continuous evaluation of how branding and messaging resonate with today's consumers, ensuring relevancy.
The Role of Research and Measurement
Effective marketing strategies rely heavily on data-driven insights and rigorous measurement of outcomes versus outputs. The discussion reminds marketers of the necessity of storytelling to contextualize data and demonstrate its business value. Adopting a test-and-learn mentality can often reveal insights that transform how marketing efforts are optimized over time. For First American, leveraging third-party research to assess brand perceptions helps ensure that marketing remains aligned with audience needs and expectations.
Marketing a 135-year-old B2B brand comes with unique challenges. How do you honor rich history while embracing modern trends? And how can marketing shift from a cost center to a revenue driver in a traditional B2B environment?
Chelsea Sumrow, CMO of First American Title and Insurance, joins Elena and Rob to tackle these questions head-on. She shares her strategy for transforming marketing at an established brand, balancing heritage with innovation, and proving marketing's value to the bottom line.
Topics covered:
[05:00] Starting with purpose, not logo redesigns
[08:00] Building revenue attribution models in B2B
[11:00] Breaking out of "rinse and repeat" marketing
[13:00] Empowering teams to be good data storytellers
[16:00] Connecting upper funnel activity to bottom line results
[19:00] Using brand perception studies to drive strategy
[22:00] Why Chelsea loses it over marketing dashboards
[24:00] The value of moving from specialist to generalist roles
Get more research-backed marketing strategies by subscribing to The Marketing Architects on Apple Podcasts, Spotify, or wherever you listen to podcasts.
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