Visa Advertising Solutions puts spotlight on evolving marketing landscape at Forbes CMO Summit

As more than 150 of the world’s top CMOs congregated in Dana Point, Calif., from Nov. 1–3 for the 13th annual Forbes CMO Summit, the Visa Advertising Solutions team kicked off programming with a provocative panel on innovative uses of marketing data, titled, “From Handbags to Hamburgers, Building Brand Love and Driving Purchase with an Integrated Journey.” Presented as a cozy fireside chat, the panel was hosted by Terry Angelos, SVP of Visa Commerce Solutions. He was joined by Scott Meden, EVP and CMO of Nordstrom, and Jeff Jenkins, CMO of Carl’s Jr. and Hardee’s.

The panel took a deep dive into how consumers’ perception of marketing data has shifted. "Using data in marketing has evolved significantly over the past several years. Consumers expect brands to understand their likes and preferences based on their digital activity, and are disappointed when you target them with the wrong content,” explained Jenkins. “We use data to inform our digital marketing strategy and ensure we serve right content, to the right customer, at the right time.”

As CMOs look ahead to the future, marketing data is no longer a nice-to-have tool; rather, it’s become essential. “Data is the most important currency for everything that we are doing,” said Meden. 

Angelos shared an array of Visa data insights, illuminating how invaluable such information can be for brands. For example, on the topic of food trends, Angelos surprised the audience when he shared that online ordering of groceries is growing faster year over year in rural areas than urban areas¹. He also shared that since 2013, the number of consumers who have more than 10 percent of their retail spend online has grown by 33 percent.

Also discussed were new ways in which online and offline shopping are coming together to form a more connected buying journey. "Customers don't think about channels – they are just shopping,” said Meden. “Their journey is likely going to include multiple places, and we need to meet them where they are. Instead of looking at each channel separately, we measure to see if we are gaining market share overall in a region. As a result, we've seen growth in the convenient services we offer for customers to make shopping between online and in-store seamless, including Buy Online and Pickup In-Store and Reserve Online and Try-In-Store.”

The intersection of consumer behavior and technology is opening up new opportunities for innovative marketing. "Technology has enabled the automation of weekly shopping habits,” said Jenkins. “We use the term "screenagers" for Gen Z, where there is a confluence of tech and food. When they are going through the drive thru, they are in front of a screen. We need to be able to have a pre- and post-meal engagement experience.”

Over the course of three days, the Forbes CMO Summit gave the marketing leaders the opportunity to share insights about today’s rapidly evolving marketing landscape. Indeed, the very essence of how we think about shopping is transforming. Change is occurring at an unprecedented pace, and Visa is ready to help you navigate this new and exciting terrain.