We are living in a time with distinct groups with competing values and judgements. It saddens me to see so much hate and negativity in the world. Wouldn’t it be nice if everyone could get along and support causes that help our future generations?
As a part of my Marketing Strategy Series, I’m talking with my fellow marketing pros at the top of their game to give entrepreneurs and marketers an inside look at proven strategies you might also be able to leverage to grow your business. Today I had the pleasure of talking with Porter Gale.
Porter Gale is an entrepreneurial executive with more than 25 years of experience in marketing, filmmaking, and building businesses. She is the CMO of Personal Capital and on the Board of Directors of Reddit. Prior to Personal Capital, Porter served as VP of Marketing for Virgin America, reporting directly to the CEO. She also held the post of General Manager at Kirshenbaum Bond & Partners SF. Porter has also advised over 15 CEOs and is the author of Your Network Is Your Net Worth.
Thank you so much for doing this with us! What advice would you give to other marketers to thrive and avoid burnout?
The best advice I can give to other marketers to avoid burnout is to put as much or more effort into your physical and emotional wellness as you do your work. I also recommend prioritizing time with family as it helps one keep perspective on what is really important.
What “3 Non-Intuitive Marketing Strategies” have been most effective for you in your industry?
One non-intuitive strategy is to recognize the power of your employees as ambassadors. In wealth management, positive employee sentiment and word-of-mouth can incent referrals and drive retention. In addition, in our industry, I’d also recommend not to under-estimate the power of social proofs such as awards, press quotes, and associations. Lastly, another strategy that is key to success is knowing your consumer. About a year ago, Personal Capital started a Voice of the Consumer program led by Robin Carew. Under Robin’s leadership, incredible insights have been gleaned and allowed our teams to improve our prospect and client experience at many touch-points.
Great advice. If you were only allowed to run paid ads on 1 platform (in your industry) over the next 12 months, what would it be and why?
Well, my immediate thought was Facebook because of their reach and targeting. However, since I’m on the Board of Reddit my heart is with them and they will always be my favored platform. They are growing like a rocketship and have powerful subreddits, or communities, some of which are dedicated to personal finance. In fact, one subreddit had so much influence during our late February market ups-and-downs that it was featured in a Bloomberg Businessweek article and in the cover art. Now this decision may not be favored by my CFO, Reddit is amazing for most brands, but there are platforms that are more important to our current lead flow. Another reason I’d go with Reddit is, like Personal Capital, it’s a David & Goliath story. There are lots of big players out there but a wealth management client or an advertiser might have a better experience and get more attention from the category challenger.
If I had an unlimited budget, I’d sponsor a Reddit AMA (Ask Me Anything) with Jereme Powell, the chair of the Federal Reserve. I’d also run tons of financial literacy ads to encourage people to take charge of their financial lives. I’d also love to invite Reddit users to Personal Capital pop-ups stores with meditation sessions and free financial plan reviews to help people weather the current market volatility we’ve been facing. That’s the crazy plan.
If I had to be serious, I’d probably throw all of our money at Facebook with their great targeting, retargeting, and lookalike modeling options.
One more question! You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be?
The first thing that comes to mind for me is I’d love a movement that inspired people to be kind to each other. We are living in a time with distinct groups with competing values and judgments. It saddens me to see so much hate and negativity in the world. Wouldn’t it be nice if everyone could get along and support causes that help our future generations?
Thank you so much for sharing so much value with us!