Chief marketing officers should also be chief innovation officers, Walmart Chief Marketing Officer Stephen Quinn said this weekend at the Association of National Advertisers Masters of Marketing conference in Phoenix. That also means answering some new questions, like how to judge when innovation works and how to divide up the new work.
Much of Walmart's marketing innovation these days involves social media. But it's also shooting 1,500 local price-comparison ads a year to run in 70 U.S. markets, which in turn has led the retail giant to bring more marketing-services work in house.
How does Mr. Quinn know when the company's innovation is working? And how does he decide what work should come in-house from agencies?
He addressed those questions in an interview at the Ad Age @ corner at the conference. Watch, and then check out more conference coverage here.