Chime CMO Vineet Mehra says CMOs have to stay current with all the tools at their disposal, and focus on their future customers
Chime CMO Vineet Mehra describes how brands can attract customers of the future by staying curious and experimenting. Mehra was interviewed by Business Insider at the Cannes Lions 2024 International Festival of Creativity.
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00:00As CMOs, we have to realize that a lot of our demand is not coming from current customers.
00:05It's also coming from future customers, and that's what the big brands have always understood.
00:14The only language of value in a company, I'll say it again, marketing equals growth.
00:20And the way you do that is to keep really current with all of the tools that you have
00:24at your disposal.
00:25Again, in this golden age of marketing, you've got media from the top of the bottom of the
00:29funnel that's becoming entirely addressable.
00:31Even things like TV, which for years were sort of spend it and forget it, are now entirely
00:36IP-driven and addressable, and you can manage your buys in a very targeted way.
00:41We all understand direct response and performance marketing, and for too long, kind of brand
00:46building and performance marketing, or what I call direct response, were separated.
00:49It was like an East Coast, West Coast divide, kind of like Tupac and Biggie.
00:54And essentially what we want to do is pull all of this together.
00:56As CMOs, we have to realize that a lot of our demand is not coming from current customers,
01:02which performance marketing or direct response is great at pulling together.
01:05It's also coming from future customers, and that's what the big brands have always understood.
01:10So I think for us, and the way you stay ahead of this, is you keep up to date on everything
01:14that's happening in the industry.
01:16You try your best to be curious and humble, because the industry is changing faster than
01:20any of us can keep up, and you're constantly testing, experimenting, and encouraging your
01:24team to try new things.
01:26But in the end, it's your job as a CMO that as these tests are going on, as your organization
01:30is filled with specialists who are very deep in what they do, that you've got to pull all
01:34this together, conduct an orchestra of very different instruments, and turn it into music
01:38that sounds beautiful to your customer, which is really what I call performance storytelling.