If you Google “Antonio Lucio CMO Visa”, as I did in preparation for my conversation with him next week at CM Summit, the first several links which show up are headlined : “Google Hater – Visa CMO Antonio Lucio Slams Giant.”
The headline isn’t really reflective of Lucio’s views on Google, but there you have it. For most casual observers, Lucio is a firebrand calling out the largest force in digital marketing today.
I think what instead we’ll find on stage is a thoughtful marketer who has a clear agenda for making the transition to digital. And unlike many of his counterparts in consumer packed goods or auto, for example, he’s also at a firm whose very existence is challenged by the Internet. Visa, after all, is a payment processing business, a middleman, as it were, and if other middlemen find a more efficient way to execute what Visa does, well, Visa is threatened.
Lately those threats have gotten very real. Facebook, Google, Paypal, Amex, along with startups like Square and TrialPay are all looking to take Visa’s business, not to mention the threat of commercial banks like Chase and Citi, long Visa’s partners.
In short, the market is up for grabs, and product differentiation will be key. Lucio knows this, and we’ll be talking about it front and center next week. Sure, Visa will have to partner (it’s invested in Square, which some say wants to disrupt Visa’s business, for example) and build out new and innovative product offerings as plastic goes the way of the compact disc (Visa recently announced an NFC-based Digital Wallet initiative).
But where the brand will really have to pivot is in meaning more than “an easy way to pay.”
Key to that is social, Lucio told me. He recently delivered a message to all the marketers in his organization titled “The Three Principles of Social Media.” They are: “1) Sharing is the new giving; 2) Participation is the new engagement; and 3) Recommendations are the new advertising.” Expect Lucio to unpack each in our conversation.
Lucio certainly walks the walk when it comes to digital spending: nearly 40% of Visa’s annual marketing spend is in digital. Two years ago, that figure was 12%. He also wants to shake up how he works with his agencies – he directs his team to work directly with media and audiences first, then agencies. Them’s fighting words to many in the agency world.
Tell me in comments what you might want to hear from Lucio as I interview him next week.
As a reminder, we’ll hear from more than 30 presenters at CM Summit, 11 of which will be one-one interviews. Those include:
The in.imit.able will.i.am: Embracing Brand As An Artist
Google’s Neal Mohan: A $200 Billion Opportunity
Reimagining Yahoo!: Chief Product Officer Blake Irving
Filmmaker Tiffany Shlain Declares Interdependence: The Internet Is Changing How We Think
The Colorful Bill Nguyen: The Market Will Come
The Swan Song of Mich Matthews, Outgoing Chief of Marketing at Microsoft
Taking Twitter to the Next Level: President of Global Revenue Adam Bain
On the Future of Media: Starcom MediaVest Group CEO Laura Desmond
I’ll be adding posts on the remaining folks – Demand CEO Richard Rosenblatt, and Facebook’s Carolyn Everson, shortly.
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The CM Summit is less than one week away, and nearly 450 folks have registered, we can only take 500….so register today before we sell out.
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