353: Narrative Economics with John Connors, founder & CEO of Boathouse

03/01/23 • 33 min

In this episode, Alan and John discuss what Narrative Economics is, how it works, and why marketers may need to reevaluate their use of Brand Management theory. John tells us how Boathouse uses data and AI to empower brands to understand their true narrative and evaluate how it aligns with their desired narrative. Boathouse employs strategies like “newsjacking” and “socialjacking” to manage and leverage their client's stories in a way that drives engagement and aligns with their goals and values.

John Connors has spent his entire career in the advertising industry and founded Boathouse in 2001 after serving as CEO of Zentropy Partners and being part of the McCann World Group Management team. At Boathouse, John and his team use Narrative Economics to help brands manage and leverage stories by overseeing both the strategy and execution.

In this episode, you'll learn:

How narrative economics works in practice
What tesla and the catholic church narratives have in common
How narrative economics can help CMOs reestablish power

Key Highlights

[01:30] On the farm and off the grid
[02:50] The path to Boathouse
[04:00] Boathouse overview and national scaling plans
[08:15] What is Narrative Economics
[11:20] Remembering a conversation with Phil Kotler
[14:00] How Boathouse tested its tools before talking to clients
[16:20] Using AI to monitor what is catching on and what isn’t
[18:25] Artificial Intelligence + Human Intelligence
[20:30] The lifecycle of a narrative
[22:30] Why Narrative Economics should matter to the CMO
[25:20] Use cases
[27:00] A hard lesson that taught John what matters in life
[28:20] Don’t chase other stars. Lean into your own strengths
[29:20] Think about why and how marketers embrace brand management
[30:00] Brands to watch
[31:30] Rethinking how marketers approach the c-suite

Resources Mentioned:

John Connors
Boathouse
Narrative Economics (book)
Robert Schiller, Nobel-winning economist
Phil Kotler on Marketing Today
Signal AI
Netbase Quid

Hosted on Acast. See acast.com/privacy for more information.

In this episode, you'll learn:

How narrative economics works in practice
What tesla and the catholic church narratives have in common
How narrative economics can help CMOs reestablish power

Key Highlights

[01:30] On the farm and off the grid
[02:50] The path to Boathouse
[04:00] Boathouse overview and national scaling plans
[08:15] What is Narrative Economics
[11:20] Remembering a conversation with Phil Kotler
[14:00] How Boathouse tested its tools before talking to clients
[16:20] Using AI to monitor what is catching on and what isn’t
[18:25] Artificial Intelligence + Human Intelligence
[20:30] The lifecycle of a narrative
[22:30] Why Narrative Economics should matter to the CMO
[25:20] Use cases
[27:00] A hard lesson that taught John what matters in life
[28:20] Don’t chase other stars. Lean into your own strengths
[29:20] Think about why and how marketers embrace brand management
[30:00] Brands to watch
[31:30] Rethinking how marketers approach the c-suite

Resources Mentioned:

John Connors
Boathouse
Narrative Economics (book)
Robert Schiller, Nobel-winning economist
Phil Kotler on Marketing Today
Signal AI
Netbase Quid

Hosted on Acast. See acast.com/privacy for more information.

Previous Episode

352: How to Balance Brand and Performance to Drive Growth with Kristen D’Arcy, CMO at Homedics

In this episode, Alan and Kristen discuss how she became the Chief Marketing Officer of Homedics, the state of the industry, and the way Homedics markets to the modern consumer through both DTC and traditional Distribution channels. Kristen also outlines the recent brand refresh and the resulting captain that resulted in a rapid 80% D2C sales jump. Kristen credits this success equally to the creative, the media mix, and the improved website. Homedics plans to double its video assessment efforts and is exploring opportunities for influencer partnerships in 2023.

Kristen D’Arcy is an agent of change and has intentionally guided her career path to gain the skills she knew she would need to be a CMO. She is driving growth at Homedics by emphasizing the importance of consistency across assets, the perfect mix of brand and performance investments, and the need to maintain that balance even during tough times. Kristen is a huge believer that the right marketing drives growth and Homedics has incredible product lines and a unique family culture that empowers her to make amazing things happen.

In this episode, you'll learn:

The details of Homedics' brand refresh and the campaign that lead to an 80% sales jump
Why marketers need nerves of steel in hard times to ensure long-term brand success
Homedics' plans for the future

Key Highlights

[01:30] Learning resilience from Geoffrey the Giraffe
[04:55] From CRM to CMO
[14:00] Homedics: the scope of the business
[16:55] Breaking down the campaign led to an immediate 80% D2C sales jump
[23:15] What is the brand plan for 2023?
[24:50] Balancing DTC and distribution partners
[29:40] How Homedics is helping Bring Change to Mind
[33:00] The hard conversation that taught Kristen an important lesson
[38:10] Where AI fits into marketing conversations
[40:00] Brands to watch
[44:00] The unique threat the economy is posing for marketers

Hosted on Acast. See acast.com/privacy for more information.

Next Episode

354: Demand Generation and Brand Marketing with David Fossas, CMO at Restore Hyper Wellness

In this episode, Alan and David discuss the mission of Restore Hyper Wellness, the relationship between demand generation and brand marketing, and the dangers of marketers confusing being purpose-driven with being cause-driven. David talks about the siloing and diminishing of the CMO role and how concepts like "Team One" and taking a critical look at new growth titles could help remedy this.

David Fossas calls himself "The Accidental Marketer," but is actually an accomplished marketer who has worked with over 35 brands, including General Motors, Verizon, HP, Visa, and Philips Health. He is currently serving as the Chief Marketing Officer for Restore Hyper Wellness, where he oversees consumer experience, marketing communications, and revenue operations to drive business growth and brand value. David emphasizes taking an adaptive approach to being a CMO and the importance of acting as a thought partner to the CEO and CFO. He also touches on topics such as the untapped potential of marketing, the true purpose of purpose-driven companies, and the impact of ongoing digital transformation.

In this episode, you'll learn:

Why David sees demand generation and brand marketing as dependent on each other
What is leading to the CMO’s influence over "the 4 Ps of Marketing" diminishing and ideas to reverse course
The reasons why not every brand's mission and purpose need to align with a social cause

Key Highlights

[01:45] Meeting Jean Claude Van Damme
[03:30] From Hollywood aspiration to CMO
[06:30] What is Restore Hyper Wellness
[09:30] The potential of marketing and the role of CMO
[13:25] Importance of partnerships with other players in the C-suit
[15:15] New growth titles and the specialization of the CMO role
[19:00] The relationship between demand generation and brand marketing
[22:15] The challenge of identifying upper funnel activity that drives conversion
[23:30] Purpose and how it relates to marketing
[27:35] Finding financial freedom and leveraging an entrepreneurial spirit
[29:25] Focus on understanding business early on in your career
[31:00] The importance of developing a holistic view of marketing
[32:40] Brands to watch
[34:50] Losing your influence is losing your impact

Resources Mentioned: