Born: Sydney, Australia
Lived in: Australia and New York.
Worked in: Plus 25 years of serving multinational clients in 85 countries.
Given his long history in marketing services management with a mandate to find solutions for global CMOs, Paul Price clearly understands today's marketing issues. "The biggest challenge now facing marketers is growth." Yet he also admits, "Growth is a subject that may sound simple, but the right solutions in these times are far from easy."
If the CMO's essential dilemma is thinking through how to grow, then Paul Price sees today's brand demands best characterized by a leaky bucket. "You must keep current customers loyal while using all variety of innovation to develop new ones. Satisfying growth also means entering new markets -- whether actual geographic markets or finding new distribution channels to the new opportunities in the digital landscape. All options, though, are a response to a core consideration: 'How can I create brand value in a challenging economy?' "
According to Paul Price, the best way to increase chances for brand success in the 21st century is to replace the marketing plan with an experience plan.
He believes this so completely that in May 2010, he took on the CEO role at Creative Realities, an technology company that creates experiences bridging the virtual and physical worlds to inspire the emotional connections that drive growth.
The role is ideal; it combines his deep experience in multiple marketing services disciplines, geographies and business categories with a proactive, consultative approach to ensure the most effective and efficient outcomes for Creative Realities clients.
Already, under his leadership, the company has grown an impressive roster of S&P 500 companies, engaging its innovative experience planning, design and systems integration services.
"Brands," he says, "are perceptions formed by consumers as a result of their experiences of them. In the digital age, more perceptions are formed outside of a marketer's ability to influence them. In fact, the consumer is now more influential as a co-creator of the brand. We see this all the time through brand advocates and antagonists in a social media world."
He believes that "Emotions are the most powerful currency in business. Inspiring emotions requires a holistic, non-linear approach. Creative Realities is channel and platform agnostic, fluent in all, burdened by none."
As a result, he sees the agency as “an alternative for marketers seeking an alternative. One group of clients knows what they don't know; they go to key shops. However, there is a growing group that doesn't know what they don't know. They are often the willing enthusiasts who look at alternative ways of thinking."
Paul’s career spans 25 years consulting to leading marketers such as ExxonMobil, Coca-Cola, HP and Pfizer. He has led multiple marketing services companies, spanning direct marketing, digital, retail and advertising disciplines, as well as leading cross-functional combinations serving large global clients.
His approach is characterized by “making the brief, not taking the brief” and a collaborative management style encouraging innovative, consumer-centric approaches to the marketing challenges of the 21st century.
Headquartered in New York and a London office, Creative Realities has helped market leaders such as Footlocker, Fidelity, Lancome, AT&T and Samsung amongst others create uniquely interactive consumer experiences using fresh, novel combinations of brand insight, creative design and digital technology expertise. Creative Realities is owned by an affiliate of Pegasus Capital Advisors, LP, a New York-based private equity firm.