Linton Addresses Marketing at FutureVision
Mike Linton, former CMO of eBay and Best Buy, chatted with moderator Steve Greenberg at last week's FutureVision event in Sonoma, Calif. (NAPCO Media, parent company of Dealerscope, organized the event.) The theme was "Why Marketing Should Matter More to Retail."
Linton said retailers are swimming in big data, and the trick is to use that data to come up with applications that consumers can use. The idea is to provide a platform where consumers can choose to have a relationship with a brand. He likened the exchange of consumers' personal data for the content they want as a sort of tax, similar to broadcasters “taxing” consumers with commercials. He noted that the younger the audience, the less concerned they are with privacy and the more comfortable they are in exchanging their information for content they want.
Linton spoke about brands standing for more than what they sell by stacking benefits to build communities. Retailers play an important role in sorting choices by the inventory they choose to sell, he said. Consumers look to retailers to help them identify what products or services are for them. As Linton is currently enterprise chief marketing officer at Farmers Insurance Group of Companies, he likened this process of choice in the insurance business to the past, where consumers went to an insurance agent to sort out the choices. He said the more choices available, the more consumers relate to a brand's promise to make their choices.