Marketing Accountability Standards Board of the Marketing Accountability Foundation Marketing Accountability Standards gadfly Fellows (GFF) Project March.
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Marketing Accountability Standards Board of the Marketing Accountability Foundation
Marketing Accountability Standards
gadfly Fellows(GFF) Project
March 2015David StewartRoger Sinclair
2Copyright 2015 MASB
As the era of Financial Engineering (1975 – 2000) to create shareholder value has been winding down, and in response to growing demand from the boardroom for marketing accountability, a handful of industry academics & practitioners saw a unique opportunity to increase the contribution of marketing, through development of standard metrics & processes that link marketing activities more objectively & more closely to the financial performance of the firm.
Over a 3-year period (9/04 – 9/07) The Boardroom Project conducted a comprehensive review of current practices, needs & accountability initiatives underway, concluding: 1) Marketing is where quality was 50 years ago (highly idiosyncratic, viewed as a cost, scrap & re-work as “low cost” substitutes for quality, lacking consistent metrics, lacking standardized processes)
2) Marketing has been relegated to the “default” category (control costs) because it lacks metrics that reliably tie activities & costs to corporate return in a predictable manner
3) Standards across industry & domain as well as a transparent process by which to develop & select the metrics will be necessary to emerge from the current situation
4) The market is unlikely to achieve consensus on its own5) There is need for an industry level “authority” to establish the standards
& to ensure relevancy over time 6) As was true for operations & product quality (with ANSI & ISO) and for
accounting & financial reporting (with FASB & IASB), so it would be true for marketing & profitable growth (with MASB).
Background (1)
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In 2007, members of The Boardroom Project recommended & provided initial funding for creation of the Marketing Accountability Foundation (MAF) & its Marketing Accountability Standards Board (MASB), with the Mission to:
Establish marketing measurement and accountability standards across industry and domain for continuous improvement in financial performance and for the guidance and education of business decision makers and users of performance and financial information.
MASB first targeted, then recruited, major Industry Associations into MASB Charter Membership as a forum where they could focus on, and make significant headway with, others on the marketing accountability journey (#1 or #2 Top Concern among senior marketers for past 7 years in ANA Top Concern Survey), and to disseminate the standards, once set, among their constituencies. The Vision for Industry Associations as specified in 2007 by The Boardroom Project:
We’ll be addressing (through partnership) the top concern of our marketing constituency…at its foundation…without having to tackle the heretofore stepchild and arduous task of measurement development. Nor is the work of accountability a one-time event, but a continuous process of: Metrics development, knowledge creation, improvement (repeat).
Background (2)
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Next MASB targeted, then recruited, the top Business Schools into Charter Membership where they could contribute to the process and revise curriculum based on the standards being set. The Vision for Business Schools as specified in 2007 by The Boardroom Project:
We’ll be attracting the brightest to marketing once again, identifying, publicizing and sustaining standards for relevant measures of marketing performance and business success, and making very clear the link between marketing actions and financial returns.
Our structure & curriculum will be engineered with the role of marketing measurement central, integrated within other metrics along the value chain, and all tied to overall financial analyses.
We’ll be providing strong grounding in problem definition, critical thinking, and the process of strategic dialog in addition to technical skills, and formally recognizing the interdisciplinary Technical Strategic Marketing Consultant in the MBA program (MBS)*.
We’ll be providing businesses with a cadre of these new marketing professionals to meet the growing demand.
Background (3)
Master of Demand Science (MDS) recommended by Directors 2/12/15
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Since 2007, our marketer Charter Members have formed Cross Functional (Leadership) Teams across their various internal “silos” that must work together to meet the accountability mandate (eg Marketing & Finance, Sales, R&D, etc) and have established common purpose & reward structures to be successful.
Their measurement based accountability work is paying off in improving financial return, they are being asked for more of it, and they need the talent, or cadre of new marketing professionals to meet their growing demand (scale), now.
The Business Schools, however, have been slower to cross the academic silos and engineer curriculum, given their reward structures and tenure, among other deterrents.
Issue
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It has been difficult getting our Business School Marketing professors/reps to cross silos and engage one of their Finance colleagues in MASB projects (out of 11 Business Schools and 12 Marketing professors, only 1 Finance/Accounting professor has been recruited…and that success came from Dave Stewart who had become Dean of his Business School).
Ann Mukherjee was recently promoted from SVP CMO Frito-Lay North America to President, Global Snacks Group & PepsiCo Global Insights, given Frito-Lays track record over the past several years in meeting and/or exceeding her analytics driven resource allocation process and financial returns. She is now responsible for “driving accelerated growth across global snacks category, as well as transforming PepsiCo insights capability to drive demand driven foresights & predictive analytics to marketing & commercial decisions. With talent and scaling ahead of her, she is also responsible for “creating transformative commercial marketing capabilities to develop and prepare PepsiCo’s marketing talent to win in a dynamic and increasingly complex global marketplace”.
Jim Meier of MillerCoors is confident enough in the size of the payout for their measurement based accountability initiatives (starting with the Brand Investment and Valuation model to allocate marketing investment across Brands) to have hired a person in the marketing finance group who will oversee their measurement &” better practice” initiatives and actually quantify the improved return over time.
GMs Karen Ebben & Kimberly-Clark’s Jamie Richardson have also indicated that the talent (cadre of new marketing professionals) isn’t there to meet the growing demand.
Pervasiveness of The Issue
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Marketers: sustained competitive advantage, consistent organic growth in revenues & in earnings, and higher return from Marketing investments
Business Schools: attracting the brightest to marketing once again and feeding businesses with the talent needed to reengineer marketing for shareholder value in the 21st Century (Manufacturing can construct and maintain an asset, Marketing can create and grow an asset - Jim Meier, MillerCoors, 2015)
Industry Associations: addressing through partnership the top concern of their marketing constituency…at its foundation…without having to tackle the heretofore stepchild and arduous task of measurement development
Marketing Agencies: moving beyond bombardment of requests for more & more information, w/more & more confusion & controversy over what it all means, measuring with metrics that reliably predict the business results of the planned activities and dumping all those which do not predict along with those not actionable; metrics and models will be causal - in layers - for clear understanding of what drives success and for answers as to what to do next if part of the plan is in trouble, focusing on real value
Stakeholders & Benefits
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Ultimately there are no alternatives for Business Schools than to provide the talent/training for
businesses that hire their grads and support their endowments
Alternative Solutions
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Technical FeasibilityNo technical barriers…all skills are taught
somewhere, but currently not to the same students.
Cooperative OpportunitiesWork with our Marketing members to fund
gadfly * Fellowships in our Business School membership base and/or in their favorite recruiting Business Schools.
Technical Feasibility & Cooperative Opportunities
* A gadfly is a person who acts as a provocative stimulus… upsets the status quo…persistently provokes others into action…attacks intellectual orthodoxies
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ObjectivesDesign and implement MASB Fellowships, with 4-5 Marketer sponsored “gadfly Fellows” and 4-5 Business Schools, to cross academic silos and engineer a MASB recommended structure (accreditation) & curriculum (skillsets) to provide the talent needed by businesses to scale their successful measurement based accountability processes, all tied to the financial performance of the firm Note: Manufacturing can construct and maintain an asset, Marketing can create and grow an asset – Jim Meier, MillerCoors, 2015.
GFF Project Objectives & Scope
Scope/Universe4-5 Marketers & 4-5 Universities to select & accept a “gadfly
Fellow” & apply the model. If desirable, Germany (University of Cologne) could be one of the Universities with a “gadfly Fellow”, making the program, or model, global in scope. Otherwise the EDUs will be US based.
Note: a gadfly is a person who acts as a provocative stimulus… upsets the status quo…persistently provokes others into action…attacks intellectual orthodoxies
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Input From MASB Members
Advisors Meeting 2015 Winter Summit
PepsiCo
MillerCoors
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Placing “gadfly Fellows” into the Business Schools
w/associated Marketer Corporate names and funding, will accelerate the training of talent pools needed for reengineering marketing “to drive demand driven foresights & predictive analytics to marketing &
commercial decisions and winning in a dynamic and increasingly complex global marketplace”
Hypothesis
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Define the objectives for the “gadfly Fellow” Research & recommend structure (accreditation) & curriculum (skillsets) needed in the talent pools (Model)
Research and recommend Fellowship sponsorship $$ Recruit 4-5 Marketers and B-Schools to fund, select & accept a “gadfly Fellow” and Model
(Likely to be one of the C-Level’s favorite recruiting grounds)
Monitor activities & progress once Fellows are in place and applying the Model
GFF Project Description
Note: a gadfly is a person who acts as a provocative stimulus… upsets the status quo…persistently provokes others into action…attacks intellectual orthodoxies
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Universities applying the “gadfly Fellow” and Model will accelerate training of the talent needed by their marketer
recruiters “to help apply demand driven foresights & predictive analytics to marketing & commercial decisions, and winning in a dynamic and increasingly complex global
marketplace”
Expected Results
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Fellows will be an integral part of the research and technical activities of MASB, reporting to Directors.
They will be Marketing Scientists or others from Academia or Practice, appointed by the Board for a specific period of
time and mission critical initiative/project. * The first Fellowships will be 4-5 “gadfly Fellows”, working with
MASB to provide businesses with a cadre of new marketing professionals to meet the growing demand for
measurement based accountability processes (where the role of marketing measurement is central, integrated with other metrics along the value chain, and all tied to overall
financial analyses).
Fellows
* Envisioned by The Boardroom Project 2007 MASB Plan (Organizational Structure): “As the organization
develops, MASB will be advised by the MASB Advisory Council (MAC) and assisted…by an Emerging Issues Task Force (EITF)…and
Fellows…”
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MAFMarketing Accountability Foundation*
(Trustees)
Will be spun out to serve individual organizations
Organizational Structure
* Incorporated in Delaware and operating exclusively for charitable, educational,
scientific, and literary purposes - 501(c)(3) Not-For-Profit
Governance, oversight, funding &
administration
Advise Board on priorities, technical & functional issues, provide project
resources
Project Teams
MMAP Center
MAC MASB Advisory Council
(Advisors)
StaffMASB
Marketing Accountability Standards Board
(Directors)
Establish standards, allocate resources, direct projects from start through review,
adoption & education
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2007
2011
2009
2012
Fellows
2007
2015
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gadfly Fellows (CFF)
Project gadfly Fellows
(CFF)(Sinclair & Stewart)
Project Objective
ExpectedOutcome
“gadfly Fellows” will accelerate training of new
marketing professionals
IssueAddressed
Measurement based accountability needs more talent to scale
Cross academic silos, engineer structure & curriculum for talent
pool needed
2015 - 2017 When
StrategyLeapfrog “evolutionary” academic reinvention
by designing & implementing MASB
gadfly Fellowships, w/4-5 Marketers & B-Schools, to cross
academic silos and reengineer marketing
(role of marketing measurement central,
integrated w/other metrics along the value
chain, and all tied to overall financial
analyses).
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GFF Milestones
* Paper, Deck or Publication outputs
V Acceptance*
IITeam
LeadershipPlan
IIIResources
VIEducation*
IFrame-UpPrioritize*
IVResearch*
EI Frame-Up 3/15
Leaders & Plan 3/15
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GFF Action Plan (March 2015)
I. Project Frame-Up & Prioritization (EI Abstract, March 8, 2015) A. Inc Objectives, Category, MMAP Conceptualization, Resources Required, End Date, etcB. Debate by MASB Directors, revisions, authorization to move forward * (March 2015)
II. Team Leadership & Action Plan A. Appoint Team Leaders (generally practitioner & academic co-leads) (March 2015)B. Create Action Plan & set systematic (monthly) Meetings day/time (March 2015)C. Put up on Cloud the Fellows Folder and Roger have access (Allan, March)D. Recruit Team Heroes needed to execute plan/achieve objectives (TBD)
III. Resources (May, 2015) A. Obtain resources needed to achieve objectives (human, data, analytical, technical,
other) IV. Research (March – July, 2015)
A. What is Known/Not Known/Need to Know(Review Backgrounders in project Folder & Cover Wharton Talent Workshop plus)
B. Present Recommendation for Fellows Program at 2015 Summer Summit, Determine Project Future*
C. New Learning if warranted1. Review according to V.A* at 2016 Winter Summit and continue to completion*
V. Execute “gadfly Fellowship” Plan/Model (2016-2017)A. Recruit the 4-5 Sponsoring Marketers and B-Schools (2016)B. Monitor progress & Improve Model (2016-2017)
V. Acceptance A. Open Debate by MASB and MAC (revisions/approval)*B. Deck & Paper for Practitioners (revisions/approval)**C. Posted for Industry FeedbackD. Posted in “Accepted” (with any revisions*)
VI. Education A. Determined by Project Team (Podiums, Academic Papers, etc)**
VII. Systematic review over time (revisions)*
* Explicitly approved by majority of MASB Directors & Chairs** Disclosure to MASB Directors, Advisors & Chairs (48 Hours to Weigh-In)
GFF Team
Team Leaders
Allan Kuse MMAP Center
Meg BlairMAF/MASB
Admin
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Team Meets: 3rd Thursday, Noon ET
Dave Stewart LMU
Roger SinclairInaugural Fellow
Team Heroes
TBD MillerCoors
TBD MSI
TBDK-C
TBD EDU
TBD GM
TBDPepsiCo
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Meier Farris Taylor Reibstein Stewart Kuse Ciccarello Richardson Tharpe* Johnson* Ebben* Hanssens*
MASB 3/11/15/ Vote (“yes”)*
* On Research Phase/until August meeting when details reviewed; “no” votes = 0
Marketing Accountability Standards Board of the Marketing Accountability Foundation
Thank-you!
I. What schools should be targeted? A-level schools already have grad programs they believe are sufficient
(UCLA, NYU, Wharton, Columbia, Northwestern) and would not replace with a MASB-sponsored program (0% likelihood cited)
UCLA program includes marketing, accounting, statistics, CS and marketing analytics and serves West Coast dot coms (eg Google)
Wharton sees huge demand for marketing analytics on East Coast, but students are not attracted to this “less exciting” track
AMA has a lot of non-A-level schools that would value direction in how to develop a program that would make students attractive to industry
Actually developing a curriculum is very complex, perhaps MASB’s role could be promoting/communicating what a program should include
Alternatively, P&G & Unilever have internal training programs & Citicorp has “brand teams” outside of traditional marketing that tie functions from various disciplines together (MC teaching critical evaluation, not skills)
Coursera, an education platform partnering with top universities and organizations worldwide, also was suggested for MASB to offer courses online for anyone to take for free
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MAC Feedback from this Summit:Discussion of Fellowship Program Proposal
II. At what level should the educational curriculum be introduced?a. Undergraduate: Foundations in a variety of disciplines should be
taught – dual degree programs –but caution that dabbling in a lot of fields doesn’t prepare students well, need solid disciplinary foundation
b. Masters: Most current programs focused here – dual area of specialization (Wharton has Management Technology program with engineering and management focus)
c. Lifetime Education: add skills to experienced people at schools, on-line (Coursera) or on-site at businesses with academic help
III. Othera. Survey 7 MASB marketing members to determine what kind/how
many people they will need over next few yearsb. More discussion time: send decks ahead saying no presentations,
7-10 minute presentations with time for audience discussion/critique (Wharton does 7, ARF does 10)
c. Presentations should be less focused on case studies and more on improving processes – role of MASB is improvement
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MAC Feedback from this Summit:Discussion of Fellowship Program Proposal (continued)
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