Welcome back to episode 119 of the Marketing Freaks Podcast. This week Jon is joined by Duarte Garrido, VP of Growth Marketing at volt.io, to discuss how to navigate restrictions in highly regulated organisations.
Duarte’s journey began in the kitchen as a chef, but he later transitioned to journalism before venturing into the world of marketing. His career took him to companies like Sky, Philip Morris International, Coca-Cola, and Standard Chartered Bank. What stands out in his journey is his knack for thriving in industries where creativity is often stifled by strict regulations.
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Key Takeaways:
- Creativity in Highly Regulated Industries: Discover strategies for fostering creativity within industries with strict regulations.
- Resilience and Adaptability: Understand the significance of resilience and adaptability in marketing roles, particularly when dealing with challenges.
- Accountability in Marketing: Explore the concept of accountability in marketing, focusing on measurable results and aligning marketing with business goals.
- Launching New Brands and Products: Uncover strategies and challenges in launching new brands and products, with a focus on demand generation and success measurement.
- Effective Use of Intent Data: Learn the importance of utiliSing high-intent signals and intent data to identify potential customers and drive lead generation.
- Alignment of Marketing, Sales, and Customer Success: Understand the value of aligning these teams and using shared KPIs to achieve growth.
- Understanding the Business: Gain insights into the importance of understanding the broader business context to make a more significant impact in marketing.
Navigating internal restrictions: Lessons from an expert
Marketing in highly regulated industries can often feel like a tightrope walk without a safety net. It demands a unique set of skills and approaches. In a recent episode of the Marketing Freaks Podcast, Duarte Garrido, a seasoned growth marketing leader, shared his insights and experiences gained from working with major brands in such industries as finance, tobacco, and sugar. Here, we’ll share the key takeaways from this enlightening episode.
Creativity in the Face of Constraints:
Duarte is no stranger when it comes to industries where creativity is stifled but he emphasizes that creativity in these industries isn’t limited to flashy designs or witty copy. It’s about strategic thinking and finding innovative ways to achieve objectives and finding new ways to do old things. And in this world, that’s an opportunity for real creatives to shine.
The Resilience Imperative:
You can’t be demoralised when things get tough. Resilience is a non-negotiable trait for marketers in highly regulated sectors. Receiving numerous “no’s” and facing obstacles is par for the course. Those who can bounce back and continue seeking creative solutions are the ones who thrive. Building resilience is crucial because it’s a quality that’s challenging to teach but invaluable in navigating the complexities of these industries.
The Significance of Accountability:
In Duarte’s view, accountability is paramount. Marketing should not be confined to a creative bubble; it must be results-oriented and contribute tangibly to business growth. Marketing teams should align with sales and customer success teams and collectively measure success through shared KPIs. This approach enables marketing to demonstrate its direct impact on the bottom line and secure buy-in from stakeholders.
Starting with Low-Hanging Fruit:
Launching a new brand or entering a new market is a challenge, but there’s no need to waite eons for results. Duarte recommends starting with quick wins. Identify prospects already showing high intent to purchase or those recognising the problem your product solves. High-intent signals can guide your efforts in targeting the right audience.
The Power of Alignment:
Imagine marketing, sales, and customer success working seamlessly together, measured by the same set of objectives. This dream can become a reality by dismantling silos and creating a cohesive go-to-market engine. When these teams collaborate and align their strategies, the results can be transformational.
Speaking the Language of Business:
Lastly, Duarte highlights the importance of understanding the business itself. Marketers must grasp how companies grow and connect their efforts directly to business outcomes. The divide between brand and performance marketing should dissolve in favour of a collaborative approach focused on driving growth.
In highly regulated industries, success hinges on combining strategic thinking, resilience, and accountability. Whether you’re in finance, tobacco, or any other tightly regulated sector, these lessons from Duarte Garrido will help you navigate the challenges and thrive in the complex world of marketing.
If you are looking for support with performance marketing in a highly regulated industry, reach out to us to understand how Overdrive Digital can support you in achieving your business goals.
