The McKinsey Podcast
Funnel vision: Marketing with an investor mindset
Oct 4, 2023
Learn about the benefits of adopting a full funnel marketing strategy and how it provides a holistic view of marketing activities. Explore the concept of adopting a growth mindset in marketing and redefining it as a revenue driver. Discover the challenges of full funnel marketing and the rise of commerce media. Understand the difficulties of deploying commerce media for large organizations like Amazon and how CMOs can defend against budget cuts. The importance of common purpose and goals within a team for achieving impact is also discussed.
20:12
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Quick takeaways
- CMOs should adopt an investor mindset in marketing by rigorously evaluating spend and reinvesting in high-growth activities.
- Full funnel marketing is essential as it combines brand building and performance marketing, requiring integrated measurement systems for better targeting and audience insights.
Deep dives
The Power of Full Funnel Marketing
Full funnel marketing is crucial for companies as it provides a more nuanced view of their marketing activities. By adopting a growth mindset and recasting marketing as a revenue driver, CMOs can set bolder aspirations for marketing. They need to approach marketing with a CFO or investor mindset, rigorously evaluating spend to maximize efficiency. Companies that double down on marketing during tough economic times often achieve above-market growth. By doubling down on branding and eliminating underperforming marketing investments, companies can outperform their competitors in times of uncertainty.
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