0:00 We are joined by XIRENA Stanford, CMO of bazaar voice, Andrea Steele, head of digital marketing and operations at the Hershey company, and Justin Thomas Copeland, president and CEO of DB North America. 0:11 Come on up. Thank you. 0:20 Thank you very much. Good afternoon. All right. Well, thank you all for being here. And I'll kick us off just in a moment. 0:29 And really quickly, thank you for all of you who are our customers and partners for being here in the room, as well as those of you who are joining us online. 0:37 Really appreciate it. And I'm really, really thrilled to have two of my esteemed colleagues here. And Andrea and I actually connected a few months ago. 0:47 I am your fan, so really thank you for being here in the room with us as well. And Justin, we had the pleasure to have worked together all the way back in Asia. 0:56 Absolutely and so really awesome to have you here join us as well. When we were crafting the session, we thought that we should have a rounded view. 1:05 So here in front of you, you have someone representing the agency, you have someone representing the voice of the customer, and you have someone representing the solutions. 1:13 So with that in mind, I want to hand over to you, Justin, to kick us off. Absolutely thank you. Hello, everyone. It's great to be here. 1:22 What I'm going to do is take you through what we do for clients. I'm the president and CEO of GDB and essentially we are a creative agency. 1:31 We're not a pure play e-commerce agency. But more and more, when you think about brand, you have to think about brand to demand. So it's one seamless journey. 1:40 And so more and more, we're partnering we're giving media agnostic solutions. I'm going to give you a breadth of seven pillars that we believe in that underpin commerce, whether it's bricks and mortar or e-commerce. 1:51 We're going to show a few examples. Hopefully we can have a conversation and some questions at the end. Sound OK? Cool OK. 2:01 So let's start by telling you what you all know, but it's important that we all have the same context. And this is really going back to the basics we talk a lot about. 2:12 We talk a lot about the funnel, but really our focus is to understand and speak to and learn the journey. Right you're going to hear a lot more about the consumers being in control. 2:22 We believe that what we're helping our clients to do is understand the journey, the fact that it's non-linear and where do they play? Where do their brands play, and when is the moment for commerce and trading and sales, and how do you balance that with brand building? 2:37 More and more, we're talking with our clients about moments and understanding those key moments because not all moments economically have the same value. 2:45 So we're currently building tools within GDB and some of our partners and understanding by sector and by client type. What are the key moments? How do we know that we're getting near to those moments? 2:55 So what are the data proxies and then what are the creative solutions that we need to be providing to help brands to win in those moments? Because we all know that you can discover a brand and purchase it and advocate within like a minute, right? 3:07 That's just the way business happens today. Very different to when you are building brands ten, 15 and definitely 20 years ago. So the speed of business and the velocity is why we're focusing more and more on the moment. 3:19 I'll click through because I don't want to monopolize time, but I want to show you just some other things that we do around that. One of the things that we advocate clients to really think about is how do you go beyond just being consumer and segment focused to being what we call human focused? 3:35 Right this is an interesting example. This is a long term strategy that we've just started. This was highly awarded at Cannes this year, but that wasn't why we did it. 3:44 It was great to be recognized, but essentially emotional connection with consumers is an economic driver. So when you're thinking about commerce, whether it's e-commerce or bricks and mortar, you want to make sure that you're engaging your target emotionally. 3:57 This is some work that we did for Molson Coors. They wanted to bring a more diverse audience into their portfolio. Right and when we looked at the audience, we realized that they overindexed in lower income housing. 4:11 And when we looked at the housing, we realized that these people are in sort of and you'll see in the picture at the bottom low grade and low level housing. 4:20 And normally the and this is an insight that one of our team gave us. The roofs are painted Black. Right and what that does in summer months when, you know, Molson and Molson Coors Light is all about made to chill. 4:35 So it's trying to give consumers a moment where they can relax and enjoy life. And the insight was that when you go to some of these diverse audiences, they're actually living in these really hot and humid environments. 4:47 So we simply said, why don't we paint the roofs white? Because that blocks out about 50% of heat. Right we actually got this is in Florida. 4:55 We've got the chief energy officer to come down and endorse what we were doing. And we suddenly put Molson Coors Light as part of the community. 5:03 So emotionally engaging with the community. The reason why we did that is that this is a long term play because we could have just gone and activate it and tried to get them to buy the product. 5:11 What we're trying to is really get that emotional connection. So that in the next stage of this strategy we can look at how do we monetize that and get the economic value from that, right. 5:20 So just a different way that we're looking at Commerce and looking at winning audiences for our clients brands. In terms of research, we follow a lot of research. 5:30 This is research from GDB. So we have an analytics team based out of London and essentially this research is called the long and short of it and it looks at brand building and it looks at e-commerce and trading. 5:43 And essentially we believe that it's an end and not an or so. In many conversations with CMOs and CEOs at the moment, there's a conversation around we need to put x amount of our money just to trade, just to really activate the brand and go for sales. 5:56 And we believe that it's a balance, right? It's a balance of brand building as well as sales activation. And so this is just research that tells us and we test this with clients, we look at what works for their categories, we look at what works for their products. 6:09 And we understand and we try to understand the investment shape, but we always look for that emotional priming. And then we dovetail that with executions of getting into commerce and helping them to understand how to trade. 6:21 So we would just advocate that there's always a balance between brand building and then sales activation, and we use data to do this. So this is our Myles client. 6:30 And what we do here is we have an AI model, which looks at cultural intelligence. We look at about 6,000 different data sources and we understand exactly from a ownership perspective, what are the key triggers in pet ownership? 6:45 We then look at how we can't just think about the brand. This brand is real. Royal canin we can't just think about the brand in isolation. We think about the ecosystem around the brand because more and more brands want to know where they can trade with who they can trade. 6:58 So here is a very simple depiction that five years ago they would have been focused on getting them to buy the nutrition for the pet. But now we have a range of adjacent services from general practice, veterinary services to digital services to diagnostic models. 7:16 So we can actually look at pet owners and understand where they are in their journey, and then we can activate partners around that. So we look at Brands more as an ecosystem of opportunity for commerce rather than just sort of straight sales. 7:28 And this is an amplifier in terms of getting more money into our clients, into our clients pockets. Innovation is another thing that's often forgotten when you think about boosting your commerce engine, especially in the economic climate that we have where headwinds are ahead of us and clients are really battening down. 7:46 And innovation is a word that they think they can take or leave. But you see again that brands that are perceived or who are perceived as innovative grow their share seven times as fast and innovative companies grow their top line percentage percentages faster. 8:01 So this is really about making sure that we as partners are good partners, but really asking clients how will they innovate in product services? How are they understanding their ecosystem? 8:11 The example here is chipotle, which is not a client of ours, but they've used digital channels and new ways of engaging their audiences in order to increase their innovation cues. 8:20 The first visual you see is a maze that they did on the roadblocks platform. They had over 30,000 people that were integrating with the brand, and they've used digital channels and digital platforms to really increase their customer audiences, which is a key strategy that we use quite a lot. 8:37 And you see the economic results from this. The visual at the bottom is a bar of soap. It's taken one of it's taken one of their ingredients in that you sort of eat in their meals and they've used it and turned it into a bar of soap. 8:50 And again, it's innovation just to give different adjacencies and a different story of the brand. And it's using that to trade in different ways. 8:58 And you'll see that nearly half of their sales are now through digital channels. And so that's just testament to helping brands innovate, getting into new channels, new audiences and unlocking new value. 9:08 So we're big advocates of that for e-commerce and trading. Last two things to say is brand experience. We are in the experience economy probably the best example of this is what CVS did through the pandemic, where they changed their formats of stores. 9:23 They hired about 50,000 people who were furloughed in adjacent industries. They had new services like drive-thru where you could drive-through a CVS. 9:32 You didn't have to get out of your car, pick up the essentials of health products and really just changing the experience. And we always look, you know, Kroger is one of our clients. 9:41 We always look for opportunities where the brand experience, whether in-store or online or in digital channels, can come to life again. You know, the ones that I will read from this slide is a Bain study. 9:52 80% of CEOs think that they give a great experience. Only 8% of their customers agree with that. So there is an experience gap. And this is really important to understand how you can trade and help brands to trade. 10:07 And the last slide is really just to talk about context. So when you put the consumer at the heart of your strategy, funny things happen. 10:16 And one that we really believe in is this thought that media platforms are now becoming commerce platforms and commerce providers or platforms are becoming media platforms. 10:26 So Dunkin' donuts, when they launch their new menu, they didn't just launch it. They made it into a moment. So back to the thought of moments they went to a megastar or an influencer. 10:36 There's a lot of content you can see online, but they use that to drive into new audiences and you'll see that it just not just drove sales, but it drove engagement through digital channels. 10:47 So that's just a smart strategy to think about. And the last client is one of ours is Kroger. Kroger, obviously the number two retailer in the company, but they now have so much data on how and where products and brands are sold and they use that to they themselves now become a media platform rather than just a commerce platform. 11:06 So when you understand where consumers are, you can use data and some of these insights to really drive your commerce strategy and your commerce engine. 11:15 And I think that's our view of the world. So thank you. Good hand to you. Thanks Thank you for that. Well, the view or the view of the world. 11:25 I should do a quick caveat that the three of us are kind of busy people. So we had one meeting prior to today, and it's amazing how our different perspectives really come together and really honing in one thing. 11:41 So just a little bit of the plug. It's a sense that because when we saw each other slide, we all just kind of like chuckle to say this is really the reality and thank you for that drop pod. 11:51 So I wanted to kind of pick up from here in the sense that and for many of you who are familiar or have been a part of the journey with us, that was our voice. We would find it really on a single premise, and that is the power of the voice of the individual and i.e. the shopper or the consumers. 12:07 So with that in mind, I wanted to kind of just give you a little sense in terms of how do we, in the macro that you have just talked about, how do we really reignite that? 12:17 And before we go into the how, I wanted to just give you a little sense of our point of view, because in the spirit of the masterclass, I think we could be a little bold and just say, you know, be out there and just share with you some out there thoughts. 12:30 So first and foremost, and I'm going to share this, commerce is really always evolving. And I mean, Justin, you had just really kind of gave us I love the thought about the media platform becoming the Commerce platform and vice versa. 12:45 So in this case, I wanted to really hone in on some things. How many of you actually been to a market or a bazaar? Or you've seen one. 12:54 Wow this is amazing. If you can't see this, about 2/3 of us in the room who's actually been in a bazaar. I grew up, and I'm sorry to have to confess, I grew up in the bazaar. 13:05 I lived in Hong Kong and everywhere is a bazaar. So what does actually bazaar look like in the world? In the original world, this is what we're calling this really the traditional or the ancient bazaar, which is this whole world in that world. 13:21 It's all about 1 to 1 is a vendor trying to find a shopper. And it's a find. It's a shopper trying to one thing. And in the process, we debate, we exchange and we bargain. 13:34 It's very conversational, but yet it's very personal. But somehow along the way, the notion about the media, somehow along the way we move from that world of bazaar into this mass market, whereby because all of a sudden and I am one of them and like many of you are here in the world, in the room and others online, is that we represent the brand. 13:58 And all of a sudden overnight we have mass media that allow us to actually broadcast and we can tell the world how wonderful and how true we are and also how our products can serve your particular need. 14:12 And in the process, it turned into a bit more impersonal, a bit more one way to many and almost to the broadcast sense. 14:22 And the reality is that that's how the entire mass advertising space has really grown. And we all must be true to ourselves. We have all benefited from that. 14:32 Now the reality is that as more and more of us individuals, people coming to light, that our voices is no longer being heard. 14:42 And with the fact of all this digital transformation and all the interconnectedness and especially all of us have a phone, then all of a sudden we're in the middle of everything. 14:52 We're in the middle of where the bazaar is. And this is the moment where we're declaring that we've actually now reached a stage of what we call the new connected bazaar. 15:01 What does it look like? Well, if you've ever have you ever done a comment and say, I really love this or no, I don't really like this, I saw a lot of you nodding. 15:12 You have just spoken on your behalf as an individual and as a shopper. You have just made your voice heard. And because of this new wave, now we're moving into the pop world. 15:24 And what I actually call that we used to call ourselves the B2C or the B2B or maybe even a few years ago, we started talking about consumer guiding businesses. 15:33 Right now, we're in the world of consumer. To consumer. It's all peer to peer. And I'll give you a little bit of data points in terms of what these are as well. 15:42 But this is where I think the beautiful part of it is that the individual, the human to human and the personal experience becomes back again, is coming back as if we were in the bazaar before. 15:55 So in this new net, new connected bazaar, the shoppers, i.e. all of us and I am an avid shopper, I have to admit that we are back and we have a lot to say. 16:07 So in light, kind of like in DDP, we actually also do a series of research on annual basis annually. We actually issued out the shopper experience index and I'm going to share with you some of the things that our shoppers and your shoppers therefore are telling you and expressing what it is. 16:24 And by the way, the power of this shoppers, what we're calling the Bazaarvoice. So let me just do a quick 5 up in terms of some of the macro trends that's coming first and foremost in this current world that we're in and where reality is that our voice as a shopper is truly coming back in full force. 16:46 So case in point, 83% of the individuals whom we've actually surveyed as a part of the shopper experience index and by the way, you can download this as well on our website and they're basically saying is that they believe impose an organic pose to organic pose by people like themselves or by influencers much more than sponsored posts. 17:09 So how many of us here are brands representing brands? So there's quite a lot of us, and that means that they're actually discrediting what the brands are saying. 17:20 So they wanted to hear what others like them are saying. The second phenomenon is the fact that now when we talk about commerce and part of the topic, what we say today in terms of how do you supercharge your commerce engine, there is only one commerce engine. 17:35 There is no more distinction between social commerce, digital commerce or e-commerce or face to face or in-store. It is all in one. 17:44 And the reality is that whether it's a shopper and whether some goods that they would want to be a part of, that is pretty much that right. That is what they are trying to go to. 17:53 In fact, during the time when we did the fieldwork, it was in December and January, 64% of the shoppers. And we interviewed said that they have already been doing hybrid, meaning to say they sometimes oftentimes we search online and they go buy offline or vice versa. 18:09 A lot of times there is also another piece that I think that I love to when we get to the Q&A session, talk a little bit more about that is the rise of the authenticity movement. 18:20 Brands, products, shoppers all have to be guided by being truly authentic. And in reality, the shoppers expressed that they truly believe that user generated content is 2.4 times, almost 2 and 1/2 times more trusted than branded content. 18:40 And in fact, some of it in the Commerce space. We all work with Walmart. And the big part and in an earlier web webinar, Lisa Thomas actually talk about the fact that authenticity is one of the things that they cannot sacrifice. 18:55 And we all understand why. There is this other part of the macro, which is if you think about the population shift, Gen Z and Gen Alpha combined in the current moment represent about one third of the world population and they are the ones who are going to be spending and spending a lot. 19:16 So what are they doing? They're changing the entire world. How the world is moving. And this is an interesting stat that's actually showed up in the public study, which is the Gen Z. Almost 50% of them actually like to leave because they like to be heard, so they like to actually participate in movies. 19:34 It's really interesting. I have two of them at home, so they kind of are very, very vocal. They do tell me what is and what isn't. This last part is a bit of controversial. 19:45 Some of you have actually expressed and in one of the quick study we have is that, yes, the metaverse is here. But I guarantee you, if I would have a show of hand how the room is that? 19:55 No, I don't think it's really here. There's still a debate, but the reality is that at least by Bloomberg, this is going to be almost $1,000,000,000,000 market. 20:03 So my question to you is, have you begun to incorporate part of that in your commerce engine just to start? So with that, at the end of the day, because we are here at Commerce week and we do actually supercharge your commerce engine, it's all about the outcome. 20:20 It's all about the impact. So let me just share with you some of the brands and we work with all the premium sports. 5x the conversion rate when they leverage the power of the voice of the consumer, particularly through the solutions that we have at our voice. 20:38 And this is really, really important. 155 times increase in revenue per visitor. 20:46 This is powerful. This is top line. And bottom line is one. And every business that I look at, I always have to think about top line and bottom line. 20:56 And this is the big part urban barn can Canadian company they want to really make our home feel like ourselves and this is the part is 270% in terms of the lift on site the overall, as well as conversion. 21:11 These are kind of piglets. Just to give you an extension, a view on how the voice of your consumers can actually change not only the beginning of your journey or the moments that Justin talk about midway or all the way to that very moment when they're actually buying this is all of that coming together. 21:30 Last part, this is one of my favorite. Remo is actually a part of the code organization. They are the one who defined what mascara is. 21:38 It's really quite amazing. And if you look at that sales lift, 44%, 15 million of 15 plus million impressions. 21:47 So again, this is just some of the things that we could do. And if you really harness the voice of your own shoppers and the voice of the marketplace bringing back to that human to human notion, this is how if you were to ask the question, how do I And how does the voice of our consumers actually come to play? 22:07 This is just a spectrum of the things that we could help you with and the things that we do. So I'm not going to go into too much into that. There are two of these I wanted to highlight. 22:15 One is the Justin, talk a little bit about the communities. Communities is going to be if I were to anticipate what I talked about is consumer to consumer transaction earlier, I'm going to extrapolate that. 22:27 I think the days of communities to communities and communities, consumers, which is still key to say are coming and you may as well take full advantage of that. 22:37 Second part is also what Justin is going to really major on. That is the power of insights and power, the analytics and power of understanding what is the aggregate and what is a total of what we can do and learn from. 22:51 And this is a big part of how we truly take advantage and be proactive and be anticipating the needs of your consumers as well. 23:00 I'm just going to quickly build up to that. And because of that one single premise, we were born 17 years ago as a company, I'm really, really kind of proud to just share with you. 23:10 But there are only two points that I wanted to highlight in here. This is just kind of the spectrum and being a part of sharing and really thank many of you and many of your colleagues too advantage of that. 23:23 But look at this number in gold. On the platform that we serve for brands and retailers. And for that matter, some customers are consumers as well. 23:32 1.3 billion shoppers uses this network and this platform on a monthly basis. This number is likely going to exponentially increase because each of us are going to be a lot more vocal in trying to express what it is that we want and why we like and why we don't like. 23:49 The last piece is the other good element is that authenticity in that movement that I was talking about is really, really critical. So if someone is looking at the reviews of what you're talking, what they're talking about, your product, they're always going to ask, is that authentic? 24:04 Is that something that I really, truly can count on because I'm going to make decisions from that. And so there is actually a Bazaarvoice trust, mark, that we actually put on and customers put it on their side to really just declare the size that this is truly based on and use the golden standard in terms of how we do that. 24:22 So I'm not going to go too much further beyond that, other than in the spirit of the masterclass, I'd like to share with you some Do's and some don'ts. 24:33 So let me start by the positive part, right? By the way, on another session, I would love to. And as well, my colleague would love to talk a lot more about the digital shelf. 24:44 But I'm going to be upfront in here to say, you should really beginning to build a single shelf. It is not just digital anymore because remember, the Commerce is everywhere, your shelf is everywhere. 24:55 And leading to the second point, which is if you really want to extend the power of your product description pages, you should consider having social UGC as an extension of your PDP because the best voice is your customers and they're telling other customers about your product. 25:13 This is brilliant and most powerful. A third, unless we probably all of us in the room where the fact that Google is going to begin to stop supporting the cookie. 25:23 And the fact is that therefore, it's just one of the reasons why the focus toward first party data is going to be that much more important. So you have to have and should have a strategy and also really leverage in why I was bullish about the communities in terms of extending into influencers and communities. 25:40 More and more commerce engines and more and more brands are actually taking advantage of that. This is an irony that but a perfect irony in the sense that doesn't talk about the end strategy. 25:52 This is the end strategy from the standpoint in multitude of fashions. So first of all, I am one of the culprit in that I grew up in the marketing space thinking that I have to create every single content that there is to be out there. 26:07 We have to create all branded content. But guess what? That is not true. That is not true at all. You cannot afford to do it all and you can't do it fast enough. 26:16 And you can't do it. You cannot do it more effective enough than that of the content from your users and from your shoppers. That's just one example in another session, I'd love to talk more about paid versus owned versus earned as well as shared. 26:32 They're not equal. The cost of providing them is not equal either. So if you were to seeing a seesaw, how could I tip, especially in this economic climate that we're all about to get into as well? 26:43 And lastly, truly, honestly, make authenticity a movement for yourself and make it paramount. I'm going to go a little bit faster on the don't side. 26:54 So don't over rely on your own brand of content. There's a lot more that you can harness and there's a lot more that you could do at a lot less cost and a lot more impact for your commerce. 27:07 Second is that, as I mentioned, don't underestimate the power of the shopper's influence. They are really a lot more powerful than all the investments that we could put in a particular brand. 27:19 There is a huge multiplier effect when you syndicate don't syndicate only your content, your brand of content, but syndicate also that of your shoppers. 27:28 And if you miss that opportunity, you will have to do a lot more effort. In fact, study also shown that syndicate effect through the bazaar boys could be 10x. 27:38 So as an example, that's just a major part. Number four. Number four, very, very important. Do not and do not remove negative reviews. 27:49 In the same study I mentioned earlier, telling us that if they see positive reviews 30% said yep, I think it's real. But if they see negative reviews, it went up to 67% That they said this has to be real because they are not only saying the positive things, this is where the authenticity piece of it. 28:08 And lastly, don't optimize the value of having your full true content supply chain. In other words, include not just your own content, but others as well, others, most importantly, to your customers. 28:23 So as a close, we're very pleased to be a sponsor of Commerce week and most importantly, to be a partner to help you find your voice. 28:33 So with that, I'm going to hand it over to you. Great thank you. Thanks yeah, I think we got. OK thank you, zarina. 28:43 So, as I mentioned in the beginning, I'm currently at the Hershey Company and I lead our digital marketing and operations there. But I actually started my career in consulting. 28:52 And early on in that journey, I joined a startup that was founded by Scott Galloway and Maureen Mullin in 2010 called L2. 29:01 And I was pretty early on in that experience. And so being early in a startup means you get to do a lot of things at that company. 29:10 And so it was a great experience. It was a great crash course in digital because we were benchmarking all the consumer facing digital touchpoints of hundreds of brands across multiple industries that paid, owned, earned and shared touch points. 29:25 And so I learned a lot about what success looked like. I learned about how it looked different across different industries, different types of brands, whether they were direct or through retailers, small, large luxury or mass. 29:41 And that was really helpful to understand what a winning digital playbook looked like or a winning marketing playbook, for that matter, because digital is marketing. 29:50 And so in 2014, I decided I was done with consulting. I was ready to go client side and see what happens when you deliver a strategy and then go to execute. 30:01 And it's a lot harder than I thought at the time, as many of. But I joined Doug Strang, who's in the audience here at Unilever at the time. 30:10 And it was a really exciting challenge because out of all the industries that we benchmarked, CPG was by far the biggest laggard, as we would say at L2. 30:21 There weren't a lot of investments in digital or digital commerce at the time, so we were really creating the whole thing from scratch. And so I used that experience of looking across all those different industries and different brands and what worked and didn't. 30:33 And I had to adapt it to what could work for these huge, these huge brands that had existed For tens, sometimes hundreds of years. 30:42 So it was a really exciting challenge. And subsequently joined the Hershey Company. And what we found was we first we really needed a mindset shift. 30:52 And so the brands and the marketing teams at these companies were so good at carefully crafting these beautiful brands and they were so strong at carefully controlling every single touchpoint in that consumer journey like zarina mentioned. 31:09 And so that was the mindset shift. That was where their minds were at the time when we were approaching this. But we started to see these interesting dynamics in the marketplace where people were blocking our ads. They said, no, I don't want to see your advertising. 31:22 Thanks today, they're blocking our ability to track them across their devices. So we're losing sight of that consumer that we are carefully trying to control. 31:32 Additionally, as zarina just mentioned, again, perfect synergy here. They're creating way more content than we could ever create about our brands. 31:42 And it's more trusted, it's more reassuring than anything we could put together. So they're selling better for us, and additionally, they're even creating their own products that play in our space. 31:54 And they were doing this forever. This wasn't something that just started around that time, but now they had these global platforms like Google, where they could just show up right alongside our products. 32:03 So we saw this shift happening in this dynamic where, you know, to be provocative, the brands and the companies weren't in control, the consumer was in control. 32:14 And so with that mindset shift of the consumer and control, we also needed a framework to start putting that consumer at the center. And we adapted this marketing five Ce framework at the time around connections, content, community and convert with the consumer at the center. 32:30 And we really put it into their language. So this used to be in marketing language around how we were going to connect with the consumer and we were going to deliver content that was brilliant. 32:40 And you know, we said, wait a second, this isn't in the language of the consumer. We need to flip this language. It needs to be hear me, meet my needs, show me, make it easy and know me. 32:49 And I'll give you a few examples of how we've used this framework at Hershey and previously at Unilever to be able to make, you know, make those connections and make those engagements, those human to human connections we talked about. 33:01 So first just from a community standpoint. And again, perfect tie-in with Serena there. I think about the traditional brand mindset. It's I'm going to create content, my content that's on brand to deliver to the consumers or I'm going to create products based on a great skin care ingredient that my scientists and my R&D team found. 33:20 And I think the consumers will like it. And we do research on the content and the products that we deliver, but it's usually after the fact, we launch them. We do some maybe there's bases testing, maybe we launch them and we hope that they'll work. 33:33 We but we're in this new world where there are those millions of data points every day and pieces of content being created every day like Justin mentioned that we can tap into. 33:44 So from a content standpoint, it's really about how can we harness that content and really repurpose it, understand what's working, understand what we want to leverage and really tap into. 33:56 In this case, Rollo is one of our brands who really prioritizes recipes as a form of content. We have 19 recipes on our website that we've created around rollout, but there are thousands of recipes on Pinterest that people have created around rollout. 34:09 So that's a huge opportunity to know, did what we create resonate? Is there more that we can capture through user generated content and bring into our community and build that together? 34:22 And additionally, from a product standpoint, tapping into search data, social data, our ratings and reviews data, as zarina mentioned, they tell you, I like this product, I don't like this product, I would like more of this type of product. 34:34 So we've really started to listen to what people are asking for and then develop products like this one where we saw that consumers wanted a salty and sweet snack box for school lunches, for care packages, and so we developed something that was truly meaningful and needed by them. 34:51 And we knew in advance of launching that it would be a success. From there. Once we have the content, we have the products, we have to connect with them. 35:00 We have to meet their need. And we heard about in Serena's presentation the push to the push advertising and the push from net mass marketing from TV or print. 35:11 And now we still it is an and model. We still need that. We have huge household penetration in our categories. So you still need a level of awareness marketing, but we also have to make sure we're not leaving All those people on the table who are raising their hands and saying, hey, I want your products. 35:28 And they're typing into the search bar the names of your brands, the names of your products category specific terms. So understanding their language and building it into our product detail pages enables us to show up on the shelf, and it also enables us to understand where should we play. 35:45 So there's enough data out there to understand before they're even thinking of Reese's or Twizzlers or Hershey's. What are the occasions that are relevant for them around our category, and how can we build experiences for them that they want to engage with because they're looking for this type of content. 36:03 From there. You know, we really have to make sure we get in this world get clicked because that funnel has collapsed. We need to get that click and/or in the case of being in a brick and mortar store, it used to mean I've created this packaging for you. 36:16 It's beautiful. It caught your eye. You know what size it is. You can pick it up and read all the fine print I put on the packaging for you to read to want to buy this product. 36:25 You can turn it over and really have that experience. Now we are designing for the space the size of your hand with a mobile device. 36:34 We're designing how many people have done this? I know I certainly have purchased cases of hand soap in my small New York City apartment and had to figure out where to put them for the months that we would work through them. 36:45 And so we're designing for the space the size of a nickel now, and we have to fit the brand, the format, the variant and the size of the product all within that space. 36:56 And so we're really thinking about how do we clean up our images, how do we build them mobile first so that when we show up on the shelf where we can be selected and the consumer has confidence to buy our product. 37:07 So they're not working through these cups for multiple months. They have to buy again. From there. We also want to just make sure that we're making it easy. 37:16 So when I joined the Hershey company, we were going into a website relaunch, but at the time the website had a lot of recipe content but no way to purchase the products in the recipe. 37:26 Similarly, a lot of our product detail pages didn't have a path, didn't have a door to open, and our media as well. We didn't have calls to action across much of it. 37:34 So over the last three years, we really work to make sure that every time we were putting a product out or putting a recipe or an equity campaign, we gave them another door to open. 37:43 We gave them a way to deepen that engagement and close that purchase with them. And especially with that collapsing funnel or lack of a funnel, they're coming in at any point and we have to be ready to let them buy or let them engage. 37:56 And lastly, this is one where it's really about, I think, brands in the past, they would say, well, I know my dove brand or I know my I know my dove consumer, I've captured their data. 38:07 I know my Reese can consumer, I've captured their data. I'm serving them messages, my, my dove emails or my Reese's emails. But if they are only thinking of them as their dove consumer or their Reese's consumer, they don't really know them. 38:20 Because how many of you eat more than one kind of candy during the year? Hopefully a lot of. Thank you. Yeah Thanks for your business. 38:28 No, I think that's truly knowing someone is knowing all the brands that they engage with, not just in your own portfolio either, because they're not just buying all Hershey products, they're buying some competitor products sometimes as well. 38:42 And so really knowing them and building the technology and the capability that's modular and able to personalize to that multidimensional person, not just the Reese or the dove consumer, really means, you know them and you can reach them where they are and increase your engagement and conversion. 39:00 So from there, you know, what can we do? We need to make sure that we really understand them. But it's not just qual and it's not just Quant. It's tapping into those millions of data points that are being served up through partners and through the different technologies we use and the different engagements that we have with those consumers. 39:20 And then we need to educate. So again, having that outside in point of view where you understand what our other industry is doing, what are other types of brands doing and bringing that to the table to show this is a different approach. 39:32 How can we adapt this for our category or our brand? And then but you have to make the case, you have to have teeth behind it. So test and learn, show that it works, show that consumer led first can drive that growth. 39:45 And then ultimately we do all have to let go. There's no way that we can control it all. I mean, when we talk about the metaverse, like all of your brands have content in the metaverse already, whether you're there or not. 39:56 So it's just a reality that we have to accept and understand how can we build that relationship with the consumer to build better brands for tomorrow? 40:05 So thank you. I have to say one thing. 40:13 This show is very powerful. How many kennedys, how many races and kit-kat have you just seen? I would love to have one them all. 40:24 Just subliminal pieces of it. I think we have a few minutes before we open the floor from the Q&A standpoint. I love to just maybe tie back, if you don't mind. 40:34 Justin, you work with brands and retailers and commerce engines all the time. If there's just one thing that you're watching us and say, you should not do this. 40:45 What is that? I think you made a point about don't have to create all of the content. I think content, strategy, really thinking about what that looks like holistically from brand all the way to demand and looking at the acts that you put on your content strategy. 41:03 What role does it play at what points, what moments? I think that's one thing that we see a lot of our clients internally creating this content that they don't even know about that appears. 41:14 That's a lot of investment. I think if we could corral help brands to corral some of that and just really get precise on what that content strategy is and link that to sales, link that to commerce, whether it's in-store or offline. 41:26 I think every brand that we speak to has got an opportunity to do, I would say, a tighter job, because I think part of that is borne from organizational structures. 41:36 So people are in the Hershey's team, for example. It's like the name your product team, and they're doing their own thing with the right intent. 41:45 But I think that's one thing that we see. You know, it can be better for the brand experience, better for conversion, better in building the brand and understanding those moments when you can trade. 41:57 If we could just do that more holistically, I think that's the one thing that we see. It just gave me a thought. It's also better for sustainability. Completely well said. 42:06 Well said. Well said. So under. One one quick thing. Yesterday we were actually in a meeting. 42:15 Some members of the team and I were in a meeting with a couple of focus groups. And one of the conversation was that we started talking about interest control. 42:24 And the gentleman's comment was that it is so hard for us to let go. How do you how do you do How do you do let go, in fact. 42:34 Right because I think all of us are born to. It's my brand. It's my messaging. It's my ABC. Yeah Yeah. 42:43 I mean, I don't think anyone's completely cracked it, but I think that the way to let go. So there will always have to be some level of control. 42:51 There is still a role of building brands, building great brands, building brand equity. Because you have to have something out there for them to. That's why they want to engage. 43:00 That's why they want to create content or tattoo tattoos around your product because you have such a great brand. So there's always going to be a role for that. 43:10 And I think that the trick is just making sure that that's not where your job ends, that it's looking at all the data, understanding how they are consuming your brand and engaging with it, and then helping to highlight that and amplify it and show this is, you know, this is what we want to extend our brand as well. 43:32 And then I think that people will also let go when they drive results, when they drive growth. So if you make more money because you have an approach that is consumer first or consumer and control, and then I think that that's just a natural runway for brands to start evolving. 43:50 Yeah and you just reminded me of the connecting dot to Justin when you were talking about it's all human and it's all emotion. 43:59 Those emotional appeal was at 7x to the multiplier of 57x. That's really phenomenal. 44:07 And at the end of the day, it's all just people, right? That's who we are. Yeah right. So speaking on that point, I don't know. 44:15 Jay-z jay-z, that's me. If you like to come and help us do the q, gladly. 44:24 I'd like to invite anyone who has a question to raise your hand. Let me know if you have one. We can get you a mic. If not. Oh, here we go. 44:49 Can you hear me? OK? thank you. Justin, I had a question for you in regards to the emotion aspect of the presentation, so I'm very intrigued on the course initiative too. 45:00 Two questions to that. A, not sure if you're able to share the results of that initiative, but b, how did obviously you're the CEO and president, but from my perspective, how did you get the buy in from the client leadership team or even your own leadership team? 45:14 Because it is emotion. I can definitely feel in empathy and understand that thought, but without data, potentially, I feel like there might be issues with, you know, actually winning the belief. 45:25 Right of that initiative. Yeah, so great question. So when we had the insight, we validated the insight. We did our own primary research. 45:34 You're right that the CMO and the team have to be convinced. That's why we went to the state of Florida and got the chief energy officer to endorse our thinking. 45:43 And we actually set up a study. And this is a long term strategy. So this is just launched. So there's going to be like phases to this. We're trying to win a community which ultimately we want to monetize, but we want to do it in the right way and have a role. 45:55 So it's a long term strategy. It's a different play for Coors light, but it's one that we felt that we had the data, we had true insight, lived insight from members of our team who are from those communities. 46:07 And then we went to sort of take the brand to where we're talking about. So to Florida, we took ourselves to Florida literally, and we sort of engaged with the state. 46:16 There was validation of our thinking. And I think that's to I think czarina made the point of winning communities. That's a big part of some of our brand strategies. 46:26 And how do you do that? Not just trying to monetize off the bat, but it's again, it's that. And how do you build a brand? How do you get that emotional connection? You want the economic factor, but you want to do it in a way that's validated. 46:37 So we always look for insight and data, and on this occasion we found it. So it's a long term strategy. We've just launched sort of the first phase and it's gone very well. 46:46 And in the community it's gone very well. As you know, it's been the brand has been seen as being progressive. We will continue to look at other content opportunities, activation opportunities off the back of that. 46:58 And it's part of a longer play. Thank you. I love that and hoping to see more of that in the future just from other brands as well. I think I saw a question over here. 47:10 Hi there. Thanks so much for this discussion. Really, really insightful. And I think my question is mainly towards Andrea, but I think for the others as well, I think commenting from different angles, I'm curious about the process of looking at various data points and then coming up with a new product design. 47:26 And you cited, for instance, bazaar voice as having all this great consumer feedback and you're using that to inform the decisions that you're making about a new product. 47:36 Can you just tell me a bit more about what does that process look like as you're thinking about this massive amount of data coming in, how do you go through that and interpret that given the high volume of everything to sort of pull that into a new product design? 47:51 Yeah, it's a great question. It definitely is a lot in tandem with our partners. So in the case of the ratings and reviews data, we get great insights and bubbled up synthesis around that data from our partners. 48:06 Up is our voice, but we're also building tools internally to be able to process a lot of that data and break it down and make sure that we are not boiling the ocean, but really getting to what are those core points of insight that we need to hone in on? 48:22 We have other partners. One was on the screen space that's more from a synthesizing the Google search data, for instance. 48:30 So we're using these different partners that you saw up there to help us do a lot of that legwork. But we also have to do our own work to bring it all together. 48:38 So that we're not just looking at different point solutions. And then it's really getting it into the hands of the people who are making the product. And so that key point of very complex organizations, as we've heard, finding the right people who can take that and then run with it, whether it's a renovation or a totally new, new product. 48:59 And so in the case of the snack box, actually, it's an interesting one because we are built, as I just mentioned, we're built as a Hershey brand and a pirate's booty brand, and you have multiple brands in that snack box. 49:10 So have to work through as an organization who owns those scaled portfolio options and how can you build that into your processes going forward? 49:20 I might just want to add to that. I think you said it earlier, that really resonated as well to I think companies has to have the mindset that we don't have the answer to everything. 49:31 And therefore that search and that inquisitive mindset of saying is that what else can I learn more from? I think it's a brilliant piece and this is the part that I really feel a lot of connection in terms of what's the mission that we do here? 49:47 Is this sense is that if we can really harness the power of all these input points and you talk about billions of input points, and especially when you're doing social and there's so much that data and math and AI and ML can do for us now all that, we are in a much more powerful state than we would have been, say, even five years ago. 50:09 And then all of a sudden it's all about pattern recognition at the end of the day, if you will. Right and I love that. And taking baby steps to build it into your process as well. 50:18 So just something as simple as did anyone check whether people look for the name of this product or not? I think of something like hyaluronic acid that became really big in the beauty industry. 50:28 Is anyone searching for hyaluronic acid? Does anyone know how to spell that? Like, I don't. So that is one of those things where it's like building that into your innovation process and saying everyone has to go and check and see what the search volume is on hyaluronic acid versus moisturizing skincare or whatever the alternatives might look like. 50:46 You know, those kind of baby steps in the process can go a long way. That was the other part is also from the experience industry or the economy to leading to a co-creation economy, which is all co-creating and it's also fiber to see the categorize. 51:05 Oh yeah, that's exactly what I want and it's I love my reasons way I'm going to go get one. It was great. Super insightful. 51:13 Thank you for that. Additional questions. Well, I have one. What channels? 51:21 This is a question for everyone. What channels do you think have the highest capacity for creative innovation in the next five years? Say I start with that one. 51:32 I mean, you would have to say social channels sort of generically. Definitely, I think. But I think brands need to learn their role. 51:43 And when they sort of come in and when do they actually want to talk about the brand versus enable communities and people to come together in those channels? 51:52 I think that's still a learning process. I don't a brand that isn't thinking about their TikTok strategy at the moment. That seems to be the hot place and I don't work for them and they're not a client. 52:01 I think it's normally a lot of brands that think in what's new and where should I be? What we try and talk about is how social, social commerce content, how does all of that come together strategically around a brand that's sort of the first baby step and in that is giving up control in that space and helping brands to learn how to do that. 52:24 I think there's a lot of untapped value in social and what it does to generate economic value for brands. If brands can sometimes just realize when they should enable versus when they should activate. 52:35 That's still our instinct is to do something and to try and sell. Sometimes we don't need to do that. That would be one part of the answer. 52:45 I love that. I think the other part, regardless of channel that I would say is have to be true to your brand and you have to be true to being authentic. 52:55 Because if you're not true to yourself. And if you're not true to your brand, and that if you're allowing unknown, authentic content coming into your supply chain, you're opening yourself to a lot of exposure. 53:11 And in some cases, it could be fines, in other cases, it could be just destroying a brand that you could have taken the last 100 years to build. 53:19 Yeah and I think just I think it's less about which channel in my mind, because channels are coming and going like we've seen, like tick Tock, you know, it came out of nowhere and then we're seeing other channels on the decline at the same time. 53:33 So there's a little bit of risk in kind of saying like, this is the channel that we have to go for it. I think it's thinking more about what are those processes, ways of working, how do we get that like muscle memory going around tapping into those different data sources, whether it's TikTok or Instagram or Pinterest or whatever the channel might be. 53:53 Suppose you're not as active on one of those channels as a brand. How do you stay nimble and ready for, say, an unexpected moment like, I don't know, a Reese's cup going viral in a TikTok trend or something like that? 54:06 I'll give you an example. Recently, actually, I think it was a couple of years ago, one of our brands is Skittles and they discontinued the green I think the Green Skittles. 54:15 Right and on Twitch on YouTube, that became a thing like, you know, it just bubbled up like, why did they do this? This is the worst mistake I think it was. 54:24 Apple was replaced with lime and and it was just a problem for the community. And so suddenly, you know, a strategy was born and we were activating the brand on Twitch and we weren't trying to monetize, we were just trying to enable a conversation because we felt that was enough. 54:42 You know, we could have tried to link it to e-commerce and we could have done online, but we didn't do any of that. We just gave it a voice, gave the community a voice and let the brand live. 54:51 And I think like learning those types of behaviors, we've had that. And it goes from 0 to hero and it was exciting, but it was also quite daunting. 55:00 Like there's 100, I think it was 140,000 people that were, you know, talking about the fact that they discontinued green and, you know, what do you do? 55:10 You know, so we did something. We activated it. I think it was successful, but it gave the brand a new voice strategically. It gave them a new voice, and internally it gave them a confidence that, you know what, we're part of culture. 55:22 We don't always have to push it and be the ones to drive it or always have to monetize it. So that's a real example. I can't waste that opportunity. 55:30 Just put a plug again in the sense that the trigger of that was actually the voice of the individual, the shoppers, and they just say, I just don't like this. 55:40 And then all of a sudden they create other emotive and other empathetic reaction and all of a sudden the mushrooms, right? It is like the best marketing and the best commerce campaign you can think of. 55:52 Right? but we didn't think of but we didn't think of it. And it's the biggest or longest apology in the world. You can Google it. It's real. And I mean, I did like 17 minutes and some seconds that I was done. 56:03 I mean, it was but it's really fascinating that became a thing. So you should have a look at that on Twitch and you just may I just have to share this story. 56:13 I'm very proud of being a no knowing to this family. So going on, as we all know, they actually have a program of recruiting CEOs for the day. 56:24 And what they actually do is they truly understand who are their clients. So they actually ask kids to submit proposals to be the CEO of the day. 56:34 So as luck would have it, I just happen to be related to this family. And so her daughter, 10 years old, out of the blue on her own, because she just felt compelled as she has to do this because she has an idea. 56:47 So she created a video. Again, this is going back to the visual and the social piece. Right and the submission has to be a video. Why you think that crayons should pick you as CEO of the day? 56:59 To present it. It was brilliant. It's actually on Facebook. can look it up as well. And then she said in the last name is shy. 57:07 And then she then was selected to be the CEO of crayon for day because her idea of working, making crayon being sustainable. 57:18 So the whole family and all of us who knows her was so proud because she sat in the board room of crayon. 57:26 But that one hour and she was sitting. It was just priceless. And that to me is the kind of power that individual that each of us as a voice can actually speak up. 57:40 I just couldn't think of a better example of that. Yeah, that's great. That's great. That's excellent. Great stories. What are some things that you see brands doing that they should do either more of or less of? 57:58 But running a brand more or less of. Yeah, I think. I mean, the whole discussion today is really just around that listening and not even listening because that's, again, me to the consumer. 58:12 It's hearing them hear me. I think that harnessing and building and building into the process to I think we just talked about some great examples where companies or their agency partners were really nimble on their feet, having those built into processes where if you have a product issue that you pick up, usually we pick it up first in reviews. 58:31 If you don't already have those pipes in place and you're not pre-planning around that process to get those reviews on a daily, hourly basis into your quality assurance team to give them that flag, then you're on the back foot and then you're working for days potentially to address those quality issues. 58:48 So I think planning ahead with a processes that things you can control and then looking for those opportunities to open up your aperture beyond your brand control. 58:58 Yeah, I think that was a great I mean, it has a great answer and I think part of it is. 59:09 I think brands have also in this age got to be brave. I think there's a cultural element to everything we're talking about where you've got to if you're running a brand and owning the brand, you've got to find courage to do things differently. 59:21 You've got to find courage to sometimes activate in ways that are counterintuitive, you know, like not always trying to close the sale, right? 59:29 Not always trying to be the one that drives the message in enabling rather than saying here in not just listening. These are new behaviors and characteristics for any brand leader and I think you've got to really lean into that world and you've got to be the change agent within your organizations. 59:46 You know, you don't need to do everything but just have some proof of concepts and just show that there's a different way and start small. But I think that's also part of where I think brands need to lean into that world and behaviors. 59:59 I'll add to that too is and I think all three of us commented on it that don't think that you have to do everything yourself. 1:00:08 I think that is so powerful in the sense that we and I grew up in brands and big brands and helping brands for that matter. And we do have a bias. 1:00:18 We want to and we want to be in control. We want to do it all. The fact is we don't have to, and that makes it really that much more powerful. 1:00:27 So I'm just watching on time here. I guess sadly we are out of time and we need to head back to the main stage. I know we could listen to these three brilliant minds all day, but thank you so much for coming. 1:00:37 Thank you for being here.
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