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Elephants, Rabbits & Marketing. Oh My!

Recently, Gramercy Institute Chief Analyst, Bill Wreaks enjoyed a lively conversation with Lauren Boyman, Chief Marketing Officer (US) of KPMG on Financial Marketer TV. KPMG is a major global audit, tax and advisory services firm. In her role, Ms.Boyman directs a US marketing team of over 300 professionals. She has served in this role since early 2020. In her last position, she served as Chief Marketing Officer, Morgan Stanley Wealth Management.  She had served there for 12 years prior to her move to KPMG. Here are some key take-aways from this deep-dive interview with Lauren Boyman: 

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NEW IMPORTANCE OF MARKETING

  • Marketing at KPMG carries with it an important responsibility to manage two types of marketing. Brand consideration at the high-end of funnel is important. But also, the responsibility of driving leads falls squarely on the shoulders of marketing as well. 

  • At KPMG, there’s a strong alliance between sales and marketing and this alignment does not just take place at the highest level but also at marketing sales level too.

  • Some marketing teams rely more heavily on sales than marketing. Marketing plays a very important role, at KPMG. It represents a huge opportunity for a  team (or a team member) to make a difference.  

  • There is more and more interest in investing in marketing technology at KPMG. “We’re on a transformative journey,” says Boyman.

 

MARKETERS ARE HUMAN

  • Managing a marketing team of 300 people carries significant responsibility. One big take-away in leading a team of this size, says Boyman is remembering that at the end of the day “we’re all human.” 

  • These (Covid-19) times have been challenging for our industry and marketing team members. “When managing the team, I am reminded of the importance of personal and professional life separation,” says Boyman

  • Ironically, the pandemic seems to have broken down certain walls between personal and professional lives. “It makes leadership more understanding,” says Boyman. “I have felt much more human with my people and I have been more understanding about the importance of setting boundaries for the work environment.”

 

OPPORTUNITY FOR AUDIENCE CONNECTION

  • When targeting audiences, I look for an “opportunity for connection,” reports Boyman. “Today, You have to work harder to get the signals–I encourage the team to look for the ‘signals’ and get data on purchaser intent.” 

  • There’s more than one data point to consider when targeting audiences.  “We look to other, additional info to triangulate. Then, the key is to put it all together so that you have a real story, then you can put sales on the case,” she says.  

  • Covid-19 has forced us “deeper into a digital direction,” says Boyman. “We were already on that journey, but today, there’s more of an onus for digital marketing to increase lead flow.”

  • Covid-19 media habits have narrowed the places for people to be exposed. “Basically, there only is digital," says Boyman. “There are fewer tools. You have to be more creative.”

  • “We’ve experienced more focus on measurement,” says Boyman. “That piece of puzzle is getting better and better. This is one of the most exciting areas of marketing growth.”

 

OF ELEPHANTS & RABBITS

  • I look at my marketing team’s challenges as “Rabbits (day-to-day projects) and Elephants (long-term projects).” “We are working with both rabbits and elephants at the same time. Everyone has to devote enough time to both.”  

  • One (elephant) challenge example is that the KPMG culture tends to me be more private and “we are not accustomed to boasting  about how great we are through chest-beating bravado,” says Boyman. “Our clients do know us and the they know what we can do, but all prospects may not. So, we need to tell our story externally and tell it through multiple channels.”

Gramercy Institute wishes to extend its gratitude to Rachel Tuffney, EVP, US Operations at Dianomi for her leadership in preparing this

"Financial Marketer TV Key Points" summary.

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