Balancing Tradition & Innovation as CMO of the Fortune 1 Company with William White, CMO at Walmart
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William sheds light on how Walmart's consumer-centric approach addresses customer needs while balancing tradition and innovation. He also presents the brand's strategy in social commerce and how Walmart leverages community power.
“We want to make sure that we're earning that trust and building a lifelong relationship. And I think that's been a meaningful part of why we've grown to where we are today.”
— William White
With 150 million people visiting Walmart stores every week and 90% of Americans living within ten miles of one of its stores, Walmart is an iconic brand that has disrupted the American retail market. However, with the rapid pace of consumer change, how can Walmart maintain its heritage while adapting to current trends and scaling appropriately to meet consumer needs? To answer these questions, we spoke with William White, the company's Chief Marketing Officer.
William is an exceptional marketer with a customer-centric and innovative approach. He has a proven track record of delivering outstanding results by creating compelling strategic visions, developing capabilities, and driving effective execution. As a passionate leader, William excels in building, developing, and nurturing high-performing teams.
His leadership in creativity, innovation, and growth has earned him recognition from several renowned publications, such as Forbes, Adweek, and Business Insider, as one of the world's top CMOs. Before joining Walmart, William held senior marketing positions at leading brands like Target and Coca-Cola.
Check out the key takeaways of this episode or the transcript below to learn how Walmart's consumer-centric approach helps the company stay agile and address market changes effectively.
The Challenges and Strategies During the Pandemic Crisis - William became CMO of Walmart just two months into the COVID-19 pandemic, when the company was in crisis mode. With Walmart playing a crucial role in supplying consumers during the pandemic, William's team faced the daunting task of promptly addressing challenges and providing the best possible customer service.
Balancing Tradition and Innovation - William faces a delicate balance in his role at Walmart—preserving the company's heritage while also driving it forward into the future. He understands the core of Walmart's brand, which revolves around providing customers with both financial savings and improved lifestyles. However, Walmart also has a reputation of innovation and willingness to disrupt the retail industry. As such, William must navigate this tension between tradition and progress, ensuring that the company stays true to its roots while continuing to adapt and evolve.
Leveraging the Power of Community - Walmart has a significant presence in 4,700 communities across the United States. The company is committed to supporting these communities by providing locally relevant products, partnering with businesses, and organizing events. Additionally, Walmart has established a strong social media presence to engage with their community members. The goal is to build positive and lasting relationships based on trust and goodwill.
Walmart's Innovations in Social Commerce - Walmart has continued to build its capabilities around social commerce, aimed to reduce the gap between inspiration and purchase. Their latest initiative is called the Walmart Creator, a beta program and one-stop-shop platform enabling the brand to have a direct relationship with creators and ultimately drive sales. Furthermore, Walmart has introduced shoppable live streams, which allows customers to browse and purchase products while watching a live-stream event, providing an immersive and convenient shopping experience.
Originally published May 23, 2023
Listen to William on the Speed of Culture podcast today to learn more about how to balance tradition and innovation to address consumer needs.
