Seth Matlins of Forbes CMO Network: The Power of Whispering and Focusing on Shared Values

In this episode of "CMO Weekly," Seth Matlins, Managing Director at Forbes CMO Network, discusses his extensive career in marketing, the evolution of the industry, and the challenges faced by modern CMOs. The episode begins with a shout-out to Open Fortune for sponsoring, highlighting their unique ad placement in fortune cookies across over 100,000 restaurants globally, boasting 92% ad engagement.

Matlins shares his early fascination with brands and their power to improve the world, recalling how both his parents were marketers. He describes his upbringing as an "MBA by osmosis" and shares a memorable lesson from his father about the effectiveness of "whispering" over "shouting" in marketing, referencing an anecdote about writing "fragile" on a box.

He expresses his preference for the term "shared values" over "purpose-driven marketing," attributing the former phrase to Harvard Business Review. Matlins discusses his belief in "doing well by doing good" and his involvement with "cause marketing" from the start of his career, including his work with Rock the Vote. He also mentions creating the "Branded Impact" group, which focused on a double bottom line of marketing and world impact.

The conversation shifts to Matlins' experience at CAA, where he was brought in to start a group focused on leveraging cultural relevancy for brands, particularly in response to Coca-Cola's renewed interest in cultural relevance. He emphasizes that while marketing objectives—like creating and keeping customers, driving profitable growth, and influencing behaviors—remain constant, the strategies and tactics evolve.

Matlins highlights the significant changes in the marketing landscape since 2000, noting the absence of social networks and the nascent internet, making marketing "easier" then compared to the "unimaginable" uncertainty and unpredictability faced by today's CMOs. He discusses his role in transforming the Forbes CMO Network into a community, moving away from a reporter-led model to one led by a marketing practitioner with practical C-suite insights. He stresses the importance of intimacy and real conversations within the community, aiming to make attendees "better able to do better work".

Key challenges for today's chief marketers, according to Matlins, include the changing inputs and outputs of marketing, the impact of AI (shifting focus from efficiency to effectiveness), macro uncertainty (tariffs, supply chain), and internal relationships with CEOs and CFOs who often lack marketing experience. He also discusses the need to move beyond vanity metrics in attribution and the critical importance of a CMO saying "no" to maintain focus and allocate scarce resources effectively.

Matlins advises that successful brands today focus on learning, optimizing, and real-time marketing, citing an example of a global retailer moving away from a 36-week planning cycle in a rapidly changing world. He emphasizes focusing on "value, relevancy," and addressing customer needs rather than just stated wants.

Looking ahead, Matlins shares the Forbes CMO Network's upcoming initiatives, including the fourth annual Entrepreneurial CMO 50 list, new episodes for the "CEOs Guide to Marketing" podcast, and the unveiling of the World's Most Influential CMOs list and the Forbes CMO Hall of Fame at Cannes. The episode concludes with a rapid-fire Q&A, where Matlins shares personal insights, including his pride in his children, his love for New York City, and his desire to live abroad in places like Paris or Japan. He also offers advice on not reacting emotionally to emotional decisions.