The Beat - Summer 2019

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14 Summer 2019 FEATURE Marketing Goes to College Companies need talent that understands modern marketing, but they can’t hire talent if it’s not trained. Professor Ed Malthouse notes it’s unrealistic to expect marketingready talent right out of colleges that teach old-world marketing. Marketing EDGE recognized this years ago and built academics into the model. A statistician by training, Malthouse got into direct marketing in the early ‘90s. As a result of postdoctoral work studying direct marketing problems, he joined Northwestern’s Medill School, which offered one of the world’s first direct marketing master’s degrees. He also became part of the Direct Marketing Educational Foundation (DMEF), a forerunner of Marketing EDGE. “Professors are good at organizing but need input from what’s happening in the world, and DMEF gave a lot of access,” Malthouse says. DMEF released data sets that companies made available for teaching and research. “It’s valuable having real data for the classroom and creating assignments off that. It adds credibility,” he explains. To close the gap between classroom theory and market reality, corporate leaders also talk about their marketing journeys, so students see theory and learning applied to the marketplace. “You can see the transformation as they start to be more acutely aware of what marketing really involves,” says Terri Bartlett. Esteemed Thought Leadership Another EDGE benefit is the esteemed academic publication Journal of Interactive Marketing, for which Malthouse served as editor for five years. He notes, “We do original research and break important stories. One was on customer lifetime value—now a core principle across many companies.” Companies buy articles à la carte or subscribe. “It’s highly regarded by organizations wanting to be on the cutting edge of thought leadership.” of direct marketing. What’s happened is that all of the digital jargon that was minor 20 years ago has become mainstream, and so must student training,” explains Edward C. Malthouse, professor at Northwestern’s Medill School, longtime Marketing EDGE supporter, and past editor of the organization’s publication, Journal of Interactive Marketing. Traditional Marketing Doesn’t Fit Anymore Most marketers would agree that not having the right marketing talent will negatively affect the implementation of their marketing plans and strategies. Carlos Dominguez, President of Sprinklr, a longtime Marketing EDGE corporate sponsor, spends a lot of time with CEOs and CMOs; according to him, “not one says life is easy and good. People are forced to change at a pace we never imagined, and they’re wrestling with a radically different world.” When you look at what’s required in marketing today, it’s a different skill set than in the past, with new channels, generational speech, and changing expectations for response times. “This represents an incredible shift, yet most companies still operate in their own traditional ways,” Dominguez says. In this world of new expectations, he sees opportunities for “organizations that adapt, because not everyone will. If you can, and you do, the marketing benefits and results are much greater.” Graduates Hit the Ground Running What makes Marketing EDGE graduates a better hire? What gives them, well, an edge over other marketing rookies? Clearly something is different. Drew May, Marketing EDGE Board Chairman and Acxiom SVP and Chief Customer Officer, cites successes such as one alumna who went on to roles at Unilever and Hershey. “She’s a fantastic example of how a person with Marketing EDGE experience can really kick-start their career,” he says. “The students hit the ground running into top-tier brands and have impact right away. The hiring company gains an entry-level person who comes up to speed much faster.” Acxiom has also hired interns from summer programs, and according to Drew May, two things make these students a better hire. “Look at the quality of content and programs that Marketing EDGE produces. No other organization offers the same level of content for students in the field of marketing. Secondly, the bar for admission is high, requiring well-rounded students.” “The students hit the ground running into top-tier brands and have impact right away.” The agency ForwardPMX has filled most of its entry-level staff with hires from Marketing EDGE talent programs. Chief Growth Officer, Chris Paradysz explains why: “The most important thing is meeting the students. Imagine buying a car without seeing it. Same with hiring. You’ll find Marketing EDGE has done absolutely the most successful screening, filtering, and interviewing of students, bar none! They have a knack for finding motivated students.” Paradysz serves as a board member and longtime supporter of Marketing EDGE, while ForwardPMX contributes as a corporate sponsor. ■
Summer 2019 15 SAVE MONEY “Recruiting costs will go down due to the prescreening process of the candidates. These students are motivated to succeed,” says Chris Paradysz. “You won’t be replacing bodies at the same rate as you would with less motivated and less qualified candidates.” BECOME A BETTER MANAGER “These students bring a point of view you may not have,” says Paradysz. “If you truly listen to them, they ask difficult questions that require accountability.” GAIN EXPOSURE TO NEW BUSINESS CONTACTS AND RELATIONSHIPS These young hires have friends at other companies on both client and agency sides, and they rise very quickly to positions of authority and influence. Marketing EDGE alumni as well as the Marketing EDGE team are very good connectors, making it a point to generate introductions and bring connections to board members and other business participants. BRING MORE DIVERSITY INTO YOUR BUSINESS Study after study finds diversity increases audience awareness and, yes, profitability. Yet for all the correlations, diversity remains underused. Competitive advantage, anyone? “Bottom Reasons to Get Involved with Marketing EDGE Conversations with board members, staff, program graduates, professors, and others resulted in this list of reasons your business might consider learning more about Marketing EDGE. 1 2 3 4 line—diversity works for business. From a business perspective, there needs to be no more reason than that,” declares Marketing EDGE President Terri L. Bartlett. In spite of its increasingly technical nature, the new marketing is about people, and the more diverse you are, the better you can relate. 5 HAVE BROADER ACCESS Marketing EDGE is intended to be a steady pipeline of exceptional talent and a talent pool that spans the country. 6 FIND INSIGHT THAT DELIVERS There’s something extraordinary that happens when business organizations partner with academic institutions: students emerge knowing what real companies need from incoming marketers. “We have a mission of educating people around direct marketing, database marketing, and other topics,” Malthouse explains. “In the past, it was hard to find people who were trained in this.” Marketing EDGE collaborates with universities and professors to create the right content for modern marketing. “Without that level of support, we’d be teaching traditional models and theories,” says Dominguez. “Instead, the market becomes the recipient of students who understand marketing theory and real-world applications. They are much better prepared to step into a job and contribute from day one.” 7 GET FRESH EYES ON MARKETING PROBLEMS Marketing EDGE’s Collegiate ECHO Marketing Challenge offers a real-world problem from a participating company for students to solve. “It’s incredibly exciting as we watch students present to actual executives. That accessibility and the experience of dealing with real-world business problems isn’t found often in school settings,” notes Carlos Sirotnikov, a graduate of Marketing EDGE. “If you’re a business looking to expand your talent pool or your exposure to students studying marketing, think about partnering in a case study. Students appreciate the opportunity to be more tactical and tangible and use the concepts they learn. They’re also looking for experiences they can add to their resume.” 8 SEE A PHILANTHROPIC HALO EFFECT As Bartlett points out, “Companies want to give back, and Gen Z and millennials pay attention to what companies do from a corporate social responsibility standpoint. There’s a wonderful halo by showing you support the industry and demonstrating the desire to give something back.” May agrees: “It’s important for all of us as we go through our careers to invest in up-and-coming talent, and anything to better prepare them for careers in marketing benefits us all. That’s big.” 9 ENHANCE BRANDING AND POSITIONING Many organizations work with Marketing EDGE to elevate their profiles as forwardfacing brands and build positive connections across student, academic, and corporate partners. “Like the UN, where we have all these groups represented that come together and galvanize around particular issues, we do that around marketing and marketing talent,” explains Bartlett. HAVE FUN Both businesses and individuals can get involved, and once they do, they tend to stick around. Just ask May, who’s been active since 2006, or any number of others. Paradysz says, “The awards are fun, and the events are a blast. It’s an incredible amount of industry energy!” Good times. Good talent. Good information. It all adds up to a great opportunity for today’s marketing community to get involved with Marketing EDGE. ■ CONNECT! Turn the page to learn how how to to get get involved involved with with Marketing Marketing EDGE. EDGE.
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