Mastering the Balance between Profit and Purpose
Tune in to Time for A Reset
On this episode of Time For a Reset: The Marketing Podcast with Global Leaders your host, Paul Frampton, Global President at CvE Consultancy, is joined by Francisco Bram, VP of Marketing and Customer Insights at Albertsons Companies. Let’s get into it.
While many businesses still focus solely on advertising, branding, and market research, the winds of change are blowing; consumers are demanding more, and the pace of modern society is relentless. This means CMOs need to expand their horizons to encompass a broader mission.
Gone are the days when marketing was just about pushing products. Today, it’s about building genuine connections with customers. This requires brands to be adaptable and embrace change, becoming leaders who can navigate the ever-shifting landscape of the consumer world.
Francisco explains that marketing goes beyond generating leads and revenue. Marketing should prioritise customer well-being and build emotional, physical, and social connections. Now that customers have access to various products, it’s easy for them to switch between brands. Marketing can be the leader internally that drives purpose-driven programs that connect with customers on a deeper level.
Francisco also shares his views on the CMO of the future, they need to drive growth, make data-driven decisions, act as a general manager, and be a change agent within the organisation. In this blog post, we will explore the CMO’s evolving role and how they can adapt to the changing marketing landscape.
Taking Marketing Beyond Revenue Generating Functions
Understanding what truly matters to customers is no longer a luxury; it’s a necessity. Today’s brands are moving beyond the traditional focus on generating revenue and, instead, are aiming to have a more impactful role that drives business growth.
This shift is driven by a fundamental change in consumer behaviour. Customers crave genuine connections and expect brands to prioritise their needs and well-being. To meet these evolving expectations, CMOs need to broaden their marketing perspective.
By leveraging data and analytics, brandscan gain a comprehensive understanding of the entire customer journey, uncovering valuable insights into what truly matters to each individual. With this knowledge, can spearhead meaningful marketing initiatives beyond just selling products.
According to Francisco, “Marketing should transition very clearly internally from just a purely revenue-driving contributor to a force for good, enriching the lives of customers and building long-lasting, meaningful relationships.”
The marketing division within a business holds the power to drive positive change by championing initiatives that create enduring value for customers, build trust, and ultimately contribute to a more positive world. However, this requires a shift in mindset from prioritising short-term gains to focusing on long-term customer relationships with real impact.
By embracing this perspective, can transform marketing from a revenue-generating function to a driving force for positive change. This is not just good for business, it’s good for society as a whole.
Beyond the Bottom Line: How Albertsons Blends Profit and Purpose
Francisco tells a compelling story about how Albertsons Companies prioritise customer well-being while achieving financial success. Through extensive research, they identified key customer concerns: lack of time, information overload, and confusion about healthy eating.
Instead of only pushing products, Albertsons aligned profit with purpose by launching the “Sincerely Health” program. This initiative aims to “bring people together on the joys of food and inspire well-being” by analysing shopping baskets and suggesting healthier options with rewards. This shift, driven by a deep understanding of their customers, demonstrates the power of purpose in business.
However, Albertsons’ success goes beyond their innovative program. Their story underscores a fundamental truth: businesses with a well-defined purpose extend beyond mere profit-making. A clear purpose is a guiding light, shaping strategic decisions and fostering a strong company culture.
Albertsons is a shining example of this integration. By prioritising customer well-being and aligning their purpose with profit, they have achieved remarkable success, proving that businesses can have their cake and eat it too.
Beyond Marketing Initiatives: CMOs as Change Agents
Today’s CMOs go beyond the traditional role of managing marketing campaigns. They are now strategic leaders driving positive change within their organisations.
Armed with data analytics, CMOs have access to valuable insights that enable them to personalise marketing campaigns, optimise budgets, and demonstrate the value of marketing to other executives.
Francisco advises that CMOs should operate with a general manager mindset, aligning marketing strategies with broader business objectives, identifying growth opportunities, and optimising resource allocation. This requires strong leadership and communication skills, and the ability to collaborate across departments.
Francisco says, “Marketing has transitioned from showcasing products to a data-driven, PnL-focused approach. Today’s CMOs need to measure investment impact, demonstrating not just brand sentiment but also concrete revenue and customer behaviour improvements. By treating marketing as a PnL and showing direct business impact, CMOs gain credibility and freedom to experiment with innovative initiatives because people see the tangible value you bring.”
Championing Innovation and Change
CMOs are well-positioned as change agents, championing innovation and driving new ways of thinking. They help their organisations embrace change and stay ahead of evolving customer expectations. This might involve adopting new technologies, implementing fresh marketing strategies, or even redefining the company’s brand.
In addition, Francisco points out that successful CMOs possess high data literacy to drive personalised marketing programs and influence decision-making. They are also general managers, capable of running their department like a business. Additionally, they are effective communicators, able to inspire teams, overcome resistance to change, and foster a culture of experimentation.
Conclusion
It is important to understand the customer journey to create meaningful, personalised experiences. Francisco explains how marketing has shifted from profits-centred to focusing on the customer. Marketing is now about driving initiatives that connect with customers’ interests. These initiatives are what reshapes how customers engage. Data-driven methods and the growing influence of the CMO are key elements of this shift. As a result, marketers that embrace this shift are the force that shapes the business world. They can become the champions of change.
More About Francisco Bram
Francisco Bram is Vice President of Marketing and Customer Insights for Albertsons Companies, improving their digital strategy with innovative Marketing techniques and the launch of the brand and digital platform “Sincerely Health”, which has already netted over one million customers.
Francisco has over fifteen years of experience growing brands, products, and customers across tech, health, and retail. Throughout his career, more than $5B in topline revenue has been directly attributed to his marketing efforts.
He’s been recognized twice as a top 100 product marketing influencer and three times as a top product marketing mentor. With a growth mindset that allows him to innovate, take risks, and push boundaries to achieve breakthrough results, Francisco believes that the only constant in life is change.
Join us on Time For a Reset: The Marketing Podcast with Global LeadersTune in to the latest episode of Time For a Reset: The Marketing Podcast with Global Leaders, where we sit down with representatives of household brands to uncover the secrets behind driving transformation in today’s rapidly evolving world. From shifting consumer behaviour to the increasing importance of marketing in driving business growth, this podcast delves into the strategies and insights that are shaping the future of marketing.
You can read the full transcript episode here.
