Hello, I am Jesse Olive–Owner of Olive Media. I created Olive Media, a digital-first ad agency in Knoxville, Tennessee, in April of 2018. Over the past year and a half, my ad agency has serviced reputable businesses across the United States.
Olive Media will soon be rebranded as “LogoI” and focus on responsible company growth strategies fueled by purpose-driven branding. This website now serves as my personal space, where I will share bits and pieces of my personal and professional life.
This blog post sets the tone for the future of LogoI, where we will continue to inspire everyone that interacts with our brand to help make the world a better place.
Companies and ad agencies have broadened their reach into the inner workings of organizations. Modern-day marketing strategies go well beyond traditional outbound advertising where companies pummel society through conventional and digital media to keep their brand and offerings top of mind.
In an effort to ensure marketing executives realize their full potential, companies like Coca-Cola, Johnson & Johnson, Hyatt, Taco Bell, Lyft & Uber are moving on from their Chief Marketing Officers (CMOs). “Chief Growth Officer” (CGO) is the most common of the newer titles of the individuals that are assuming this new spectrum of responsibility that outreaches that of the traditional CMO.
I understand what companies are trying to do, but I am not sure that this deeper dive into a company requires a change in the CMO title. Wikipedia defines marketing as the study and management of exchange relationships and the business process of creating relationships with and satisfying customers. With its focus on the customer, marketing is one of the primary components of business management. Maybe its time we look at some other truths about conventional business responsibilities and titles, before we completely abandon ship on the CMO.
Traditionally, CMOs work to create overarching marketing strategies that usually address multiple initiatives. These marketing strategies should be data-driven at this day and age. If CMOs are smart, they will conduct some sort of exercise to obtain buy-in from all stakeholders before going too far down any rabbit hole. They typically make final decisions on who they outsource to, who their direct reports can hire and they usually steer ad agencies in the direction they believe aligns best with the stakeholders.
Following the launch of these campaigns, CMOs should work with their direct reports to understand the milestones and statuses of the many ongoing and upcoming projects within their silo. These direct reports usually have a team below and beside them, and so on. The CMO is responsible for communicating with other C-suite execs on an on-going basis to give them very high-level reporting that is easy to understand and quick to cover. The more intimate knowledge they have, the better. Especially when it comes to key performance indicators (KPIs) and details pertaining to any obstacles.
That is where the cutoff between the traditional role of the CMO and the new role of the CGO begins. Companies now want a more intimate knowledge of all things relative to the CMOs’ potential reach–including better visibility into the ROI of their efforts. They want their CMO to have a more holistic knowledge of how to influence revenue and profits.
Many CMOs do not come close to having the capabilities that I have outlined, let alone that of the expanded role that companies are considering. Many have made their careers working with marketing minds, but their real talent is sales. In fact, the biggest sale this type of CMO often has is the sale that landed them the CMO position. Companies are often easily sold, but end up asking themselves what did this CMO actually accomplish? Not often enough is it enough, apparently.
Companies are now searching for someone who possesses the creativity and ingenuity to spearhead the implementation of systems–not just campaigns. These individuals need to understand what is involved in influencing company culture, driving sales, creating compelling design and content, positioning a company in front of inbound traffic, and increasing a brand’s reach through targeting outbound advertising. Companies need their CMOs to understand a variety of technologies that function inter-departmentally to consolidate data and quantify results. All of this is necessary for today’s CMO to understand, so that they can keep their pulse on what is working and is not working. Professionals with this combination of skill sets are not easy to find, but they are out there.
I understand that companies need more from CMOs, but the CMO should not be the only role to expand its focus on company growth. That expansion of responsibility includes everything from their peers to the ad agencies they hire. The CFO might also benefit the company by collaborating with the CMO to look more closely at outcomes and the systems that track the data necessarily to arrive at those outcomes. The COO should understand more about these systems as well and the various business functions that are necessary for these systems to work properly. The CEO should be the leader that inspires everyone in the company to buy into their company purpose. If you think about it, the employee base can be an exchange relationship too. This is where company growth agencies like LogoI come in. We want to meet companies where they are at and help them address this broader scope of influence on growth.
Where Should Ad Agencies Start Your Company Growth Initiative?
If you haven’t already started looking at the company growth model, you are behind. In fact, there is now a concept called, “responsible growth”. While much of the populous is still arguing about whether or not our planet is in trouble or whether or not we are getting away from a variety of values, leading companies such as Bank of America and Campbell’s are already heavily invested in responsible growth concepts such as social, financial and environmental responsibility. These are only two examples of large corporations that have a macro perspective of the world-wide consumer.
These corporations understand that most of the world is aware of the challenges that we face today (as well as those we have yet to face). These corporations also understand that the abundance and access to information has created a growing enlightenment throughout the world. These corporations understand that the consumer is now more informed and demanding than ever. This is why these corporations and hundreds like them are adjusting to this world-wide movement towards responsibility and doubling down on responsible company growth strategies.
At LogoI, we suggest that if you are going to take a deeper look at your company and how you might approach company growth, you might as well jump on the responsible growth train. If you make a commitment to a responsible company growth model, it would be wise for your next move to take the advice that Simon Sinek outlines in this TedTalk video about “The Golden Circle” and apply it to your growth model.
As Simon suggests in his video, the first step is to define your “logos”. Hence the name of our company. Logoi is plural for Logos. Your logos is your why, your purpose, your reason. As Simon states, money is a result. But your purpose is what will inspire you, your team, your employees and your consumers.
If you do not already know what your logos is, that is perfectly OK. Very few of us were driven by purpose at a young age to do what we now do for a living. Relatively speaking, very few of us are purpose-driven even now. Fewer of us have a plan on how to fulfill our purpose.
LogoI would like to help you with that. Contributing to making the world a better place is our why. Enlightening and connecting people so that there is a greater awareness and contribution to bettering society is how we choose to do that. What we offer are responsible growth strategies, purpose-driven branding campaigns, digital-first advertising, meaningful content and so much more.
We want to work with brands that understand if they want the world to support them, they have to support the world. We want to work with businesses that understand their advertising, their core-values and everything they do can, together with other similar companies, make this world a better place. If you have not already made the decision to be more responsible wherever you can, now is the time. It will show in your company culture and reduce turnover rates. It will show in your advertising and increase brand loyalty. It will show on your bottom line and increase your value to everyone involved.
Don’t just take it from me, take it from Bank of America. Take it from Campbell’s. Take it from this list of responsible growth corporations. Then give us a call.