Brendan McCarthy, CMO of Criteo, on marketing during periods of transformation and how to maintain customer trust
Jul 8, 2024
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Brendan McCarthy, CMO of Criteo, brings nearly 20 years of marketing experience to the table. He dives into how companies can maintain customer trust during transformational periods. Brendan highlights the importance of transparent communication and adapting marketing strategies to fit diverse consumer demographics. He shares insights on building cross-functional teams and navigating the evolving landscape of retail and ad tech, all while emphasizing the need for brands to diversify their ad spend in a dual-sided marketplace.
Brendan McCarthy highlights the significance of adapting marketing strategies to align with transformational changes in consumer behavior and technology advancements.
He emphasizes the importance of building a cross-functional marketing organization that supports diverse stakeholders and enhances client understanding of evolving service capabilities.
Deep dives
Brendan McCarthy's Career Journey
Brendan McCarthy, the CMO of Credio, has a diverse background that includes significant roles in public interest PR and marketing at companies like Edelman and Nielsen. His experience at Nielsen involved addressing the challenge of measuring digital audiences, where he utilized storytelling and demonstrations to educate clients on the value they provided. McCarthy is drawn to companies undergoing transformational changes, which influenced his decision to join Credio during its shift from a retargeting focus to embracing commerce media. This transformation reflects the broader evolution in marketing tactics as companies adapt to changing consumer behaviors and technological advancements.
The Rise of Commerce Media
Credio has capitalized on the shifting landscape of retail media by positioning itself within the emerging category of commerce media, which includes both retargeting and various retail media strategies. The company's ability to pivot and redefine its offerings is exemplified by its recognition of the growing demand for retail media as third-party cookies began to phase out. McCarthy emphasizes the importance of helping clients understand the comprehensive capabilities of Credio, which include client acquisition, retention, and the optimization of retail media tactics. This strategic shift is not only vital for Credio's growth but also helps clients tap into new high-margin revenue streams associated with commerce media.
Navigating Retail Media Networks
The development of successful retail media networks (RMNs) varies significantly among retailers, depending on their individual capabilities and goals. Some larger retailers have opted to in-house their tech and ad sales, while others may find this model impractical due to their non-tech-focused nature. As McCarthy notes, not every retailer can transform into a tech company, pointing out the challenges faced by organizations trying to pivot based on trends. Nonetheless, there is a genuine interest among retailers to explore RMNs, given the potential for increased revenue opportunities and the growth of the retail media sector.
Global Perspectives on Retail Media
The retail media landscape demonstrates diverse maturity levels across different regions, with the U.S. showing greater sophistication compared to Europe and the Asia-Pacific (APAC) regions. McCarthy explains how Credio tailors its marketing strategies to fit the distinct stages of development in each market, using lessons learned from previous campaigns. Approximately 54% of U.S. retailers have adopted retail media networks, slightly higher than the 56% in Europe, while Asia is just beginning to explore the concept. This global approach allows Credio to strategically adapt and educate various markets about the value of retail media as a core aspect of their business.
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Brendan McCarthy is Chief Marketing Officer at Criteo. He joined Criteo in late 2020, bringing nearly 20 years of Fortune 500 strategic marketing and communications experience to the company. Under his leadership, Brendan spearheaded key transformational initiatives at Criteo, including a brand refresh and an integrated marketing campaign, “The Future is Wide Open,” which signaled the company’s new vision and commerce media strategy.
Previously, Brendan was Head of Communications and Product Marketing for Nielsen Global Media, where he spent five years helping to transform the company’s reputation from a legacy television ratings provider to a leading-edge data and technology company.
Brendan joins the podcast to discuss all facets of marketing including marketing during company transformation, the importance of embedding within cross-functional teams, how to build a marketing org that supports multiple stakeholders.