Mark Penn, the chairman and CEO of Stagwell Inc., reflects on his extraordinary career, driven by his passion for politics and marketing, and offers insights on why this is a good year for marketers. Episode TranscriptPlease note, this transcript may contain minor inconsistencies compared to the episode audio.[00:00:00] Damian: I'm Damian Fowler. [00:00:01] Ilyse: And I'm Ilyse Liffreing. [00:00:02] Damian: And welcome to this edition of The Current Podcast. [00:00:05] Ilyse: This week we're delighted to talk with Mark Penn, the Chairman and CEO of Stagwell. [00:00:10] Damian: Well, first, as a political pollster, who's advised names like Bill and Hillary Clinton and Tony Blair. [00:00:20] Later, he became Chief Strategist for Microsoft, before founding Stagwell, a digital first marketing and communications group. [00:00:28] Ilyse: Mark's political background no doubt brings a much needed perspective to marketing. He argues that in today's real time, data driven world, brands must have a constant finger on the pulse of the American consumer. [00:00:42] Damian: We start by asking him how these two worlds, politics and marketing, have always been bound together [00:00:48] mark, it's no secret that you've covered the waterfront from being a political strategist to a poster to businessman and author. You know, can you walk us through a little bit about how you went from polling to politics to media? [00:01:00] That's a big question, right? [00:01:01] Yes, I'm still trying to answer that question [00:01:03] Mark: myself. How did I get here? Uh, you know, I kind of re strategize myself like every decade or so. And I said, well, okay, what is it that I really want to do? And, and so I, I kind of started actually out as I was going to be a lawyer. Uh, and then I detoured from law, law to polling. [00:01:22] And then I was going to be a pollster working for the president. And I got to do that. So then I kind of detoured from there. And then at a certain point, and I love technology. So I was then kind of went to Microsoft and became chief strategy officer. And then I, I had this idea to say, why can't I take all my experiences in polling and campaigns and running bursts in Marsteller. [00:01:45] And I ran Microsoft's advertising too. And I said, you know what? I could form a better holding company because it could be more digital first. It could be more freed from the legacy assets. It could be more innovative. And so I did exactly that. [00:02:00] [00:02:00] Damian: Yeah, doing a little research on your background, it seems like your curiosity seems to have served you very well throughout life. [00:02:06] Is that part of the DNA of, of what drives you or what, what keeps, what motivates you to keep going? [00:02:12] Mark: Well, you have to do what you're interested in. You know, I always think, it's so funny. You know, my partner and I were going to be corporate lawyers. And, and then we decided, you know what? We like this polling thing. [00:02:22] We have impact on campaigns and society. And we thought, oh, we're giving up this cushy life as corporate lawyers. And we, we did a lot better doing polling than we ever would have done as corporate lawyers. So, what I always tell people is, follow your passion. Don't worry so much. If you do something, do it. [00:02:38] Really interesting. Really? Well, you'll, you'll figure out how to, you know, how to manage the, the reward side of things, and that's much better than doing something you don't really like that you somehow think is going to be rewarding. [00:02:51] Damian: Now, Stagwell, as you mentioned, offices, big marketing network, let's tech driven, you know, as a leader in digital, you know, uh, how have you seen the [00:03:00] two areas move together, you know, the idea of digital marketing performance and creative, how do those two things. [00:03:07] Mark: Well, I think they have to work together. I think that to the extent that you're creating a digital experience, that is a creative activity. That, that everyone remember, those of us who were not born digital, think of how we create a TV spot first. Those who were born digital don't think in that way. They think in how they're going to create a digital experience first. [00:03:35] Right? And, and that takes the same kind of creativity, if not more so. Right? Because TV spots eventually had like a, they had like a, they had rules. Right? And they had a boundary and they were 30 seconds. And, you know, and you can be like, it's actually more of an interesting open canvas when it comes to digital creation. [00:03:54] Ilyse: What would you say is one thing every brand or media buyer should be [00:04:00] thinking about today? [00:04:01] Mark: Uh, every media buyer, I think, today is just thinking about how they get the, Find the right place for their brand. [00:04:10] I mean, I, I think, I think it's, it's kind of the basic of who's your real target audience and, and how...
