EXECUTIVE PERSPECTIVE

Frank Carvalho is the Chief Marketing Officer of Foap. With a wealth of experience spanning 20 industries, 20+ countries and 20+ years, he's been the linchpin behind award-winning initiatives that drive brand strength, surpass targets, and amplify profitability. Carvalho has skillfully managed brand portfolios exceeding $50 million across 26 countries. His leadership spans global, regional, and local teams, consistently fostering revenue growth while reducing turnover. He's spearheaded sales growth, championed global e-commerce integration, and garnered over 100 awards, including 7 prestigious Cannes Lions. His journey includes achievements in production management, content development, TV program creation, and social media; and extends to building robust data systems, fostering celebrity partnerships, and championing diversity, equity, and inclusion initiatives for companies he has worked with. His client roster includes 3M, Bank of America, Diageo, General Motors, IKEA, Pfizer, Samsung, HSBC, P&G and Vodafone, among many others. His leadership roles include his current position as Chief Marketing Officer at Foap, where he's galvanized the company's marketing and sales efforts, driving substantial growth and forging partnerships with industry giants like Meta and TikTok. Prior to this, Carvalho held roles at Brand New Galaxy, Hogarth Worldwide, Publicis Groupe, Leo Burnett Worldwide, and Vodafone. His career epitomizes transformative marketing leadership.

CMO COUNCIL: How do you define the Creator Economy and size and segment this dynamic, evolving marketplace?

CARVALHO: The creator economy refers to the economic system that has emerged with the rise of digital platforms and technology, enabling individuals to create and distribute their own content, products, or services directly to an audience. In this model, individuals, often referred to as "creators," leverage digital platforms and tools to build and monetize their personal brands. The creator economy has gained significant momentum in recent years, driven by the democratization of content creation tools and the widespread adoption of digital platforms. It has created new opportunities for individuals to turn their passions and talents into sustainable careers while challenging traditional models of media and entertainment. Foap has been connecting creators with brands, companies and agencies for more than 10 years. Key elements of the creator economy include:

• Content Creation: Creators produce a wide range of content, including videos, blogs, podcasts, art, music, and more. This content is typically shared on platforms such as YouTube, Instagram, TikTok, Substack, and others.
• Audience Engagement: Creators build and engage with their own audiences directly through social media, email newsletters, and other communication channels. They often establish a more personal and direct relationship with their followers compared to traditional media.
• Monetization: Creators have various ways to monetize their work. This can include ad revenue, brand partnerships, sponsorships, merchandise sales, crowdfunding, and direct fan support through platforms like Patreon or Ko-fi.
• Platform Independence: Unlike traditional employment models, creators have more flexibility and control over their work. They are not tied to a specific employer or media company, allowing them to work independently and on their own terms.
• Tools and Infrastructure: The creator economy is facilitated by a range of tools and platforms that make it easier for individuals to create, distribute, and monetize content. These tools include video editing software, social media platforms, e-commerce platforms, and more.
• Diversity of Revenue Streams: Creators often diversify their income streams to reduce dependency on a single source. For example, a YouTuber may earn money through ads, brand deals, merchandise sales, and viewer donations.

CMO COUNCIL: In what way can brands benefit from tapping a talented global community of inspired creators?

CARVALHO: Brands can benefit in the following ways:

• Diverse Perspectives: A global community of creators brings diverse perspectives, cultural insights, and creative approaches. This diversity can help brands tailor their messaging to different audiences and markets, fostering a more inclusive and relatable brand image.
• Authentic Content: Creators often have a more authentic and genuine connection with their audiences. By collaborating with creators, brands can leverage this authenticity to create content that resonates with consumers and feels more genuine than traditional advertising.
• Increased Reach and Engagement: Creators often have dedicated and engaged fan bases. By partnering with them, brands can tap into these existing audiences, reaching consumers who may be difficult to reach through traditional advertising channels. This can lead to increased brand awareness and engagement.
• Innovative Marketing Campaigns: Creators are known for their creativity and innovation. Brands can benefit from the fresh ideas and unconventional approaches that creators bring to marketing campaigns, helping them stand out in a crowded digital landscape.
• Cost-Effective Marketing: Collaborating with creators can be a cost-effective way for brands to create high-quality content. Instead of investing in expensive production teams and advertising agencies, brands can leverage the production skills of talented creators who may offer more budget-friendly solutions.
• Community Building: Creators often build communities around their content. By associating with creators, brands can tap into these communities, fostering a sense of belonging and loyalty among consumers who identify with the creator's content and values.
• Adaptability to Trends: Creators are typically quick to adapt to emerging trends and technologies. Brands can benefit from this agility by staying current with the latest trends and effectively incorporating them into their marketing strategies.
• User-Generated Content (UGC): Encouraging creators to generate content around a brand's products or services can result in valuable user-generated content. UGC not only provides authentic endorsements but also serves as a powerful word-of-mouth marketing tool.
• Data and Analytics: Creators often have access to valuable data and analytics about their audiences. By partnering with creators, brands can gain insights into consumer behavior and preferences, helping them refine their marketing strategies.
• Global Campaigns: Leveraging a global community of creators allows brands to run campaigns that resonate with diverse audiences around the world and give the feeling of being local. This can be particularly beneficial for brands looking to expand their reach in international markets.

CMO COUNCIL: What makes Foap a valuable asset and platform partner for Creative Process Outsourcing worldwide?

CARVALHO: Foap is a constantly evolving platform that has 4.5 million creators in 194 countries. It has been a leader in UGC for more than 10 years. Foap is also a creative partner with the world’s most important social companies like TikTok and Meta. Here are some aspects that make Foap valuable for Creative Process Outsourcing:

• Crowdsourced Content: Foap allows businesses to access a large and diverse pool of photographers and content creators globally. This crowdsourced approach can be useful for obtaining a wide range of visual content for marketing and advertising purposes.
• Cost-Effective Content Creation: Businesses can potentially find cost-effective solutions for content creation by sourcing images and videos from Foap's community instead of hiring expensive in-house teams or professional photographers.
• Speed and Efficiency: Foap's platform may provide a quick and efficient way for businesses to find and acquire visual content, reducing the time and effort typically associated with traditional content creation processes.
• Global Reach: The platform's global community of creators allows businesses to find content that resonates with different target markets and cultural contexts, supporting international marketing campaigns.
• Flexibility and Variety: Foap's model allows for a diverse range of content styles and subjects. This flexibility can be beneficial for businesses looking for a variety of visuals to support different aspects of their marketing strategy.
• Rights Management: Foap may offer features for managing the rights and licensing of content, ensuring that businesses can use the acquired visuals legally and in accordance with their needs.

Many of the Fortune 500 as well as start-up have used Foap which demonstrates their ability to accommodate to the needs of many different marketing situations.

CMO COUNCIL: Why do brands need to reach further to scale up content creativity and digital ingenuity today?

CARVALHO: There are several reasons:

• Increased Competition: The digital landscape is crowded with brands vying for consumer attention. To stand out in a sea of content, brands must continually innovate and push creative boundaries to capture and retain audience interest.
• Changing Consumer Expectations: Consumers today expect personalized and engaging content. Brands that can deliver relevant and creative content are more likely to connect with their target audience and build stronger relationships.
• Rapid Technological Advancements: The rapid pace of technological advancements provides new opportunities for creative expression and content delivery. Brands that embrace and leverage emerging technologies can stay ahead of the curve and create unique, memorable experiences for their audience.
• Evolution of Social Media: Social media platforms play a crucial role in brand visibility. To maintain a strong presence on platforms like Instagram, TikTok, and others, brands need to continually adapt their content strategies to align with evolving trends and user behaviors.
• Global Reach: With the rise of e-commerce and the ability to reach global audiences, brands need content that resonates across diverse cultures and regions. Scaling up content creativity allows brands to connect with a broader and more diverse consumer base.
• Content Consumption Habits: Consumer habits are constantly evolving, with shifts in how people consume content. Brands must adapt to changes in media consumption, such as the rise of short-form videos, podcasts, and interactive content, to remain relevant.
• SEO and Search Algorithms: Search engines prioritize fresh and high-quality content. Brands that consistently produce innovative and valuable content are more likely to rank higher in search results, increasing their online visibility.
• Storytelling and Brand Narrative: Brands are increasingly recognizing the importance of storytelling in building a strong brand narrative. Creative and compelling narratives help brands connect with their audience on a deeper level, fostering brand loyalty.
• Data-Driven Insights: Analyzing data and consumer insights is crucial for refining content strategies. Brands that reach further in terms of creativity and digital ingenuity can use data-driven insights to optimize their content for maximum impact and relevance.
• Adapting to Cultural and Social Shifts: Societal and cultural shifts can significantly impact consumer preferences. Brands that stay attuned to these shifts and are agile in adapting their content strategies can connect with audiences in meaningful ways.

By reaching further to scale up content creativity and digital ingenuity, brands not only meet current consumer expectations but also position themselves for future success in a dynamic and competitive digital landscape. This approach allows brands to stay relevant, foster innovation, and build long-lasting relationships with their audience.

CMO COUNCIL: Which brands are harvesting value from your revolutionary and disruptive model of crowdsourced creative?

CARVALHO: Foap has been working with over 1,000 brands over our 10 year period and more are joining everyday, especially with our new product Brand Crowds which allow brands to create their own private creator armies around the world. Overall we are working with the following type of clients:

• Global Fortune 500 companies: These clients are looking for one platform which can provide both global and local UGC video and photographic content.
• SMB: Our SMB clients are looking for the diverse and authentic which they do not have the means to procure locally. Foap gives them access to the world and communities that are hard to get content from.
• Social Media Platforms: Foap is a creative partner for major social platforms like TikTok and Meta. We work closely with these companies to monitor trends and what performs well but we also provide platform native content to their clients.
• Agencies: Agencies are being squeezed with the evolution of the creator economy and efficiency demanding clients. They turn to Foap as tool to help their creative and production teams deliver the diverse and authentic content they need to be locally relevant.
• Start-Ups: These new companies turn to Foap because they can no longer use friends and family to develop content. They need more access to a global talent pool because they are selling to the world in some cases. Foap allows them access to a large creator pool but also allows them to build a community of creator fans.

CMO COUNCIL: What measures and metrics do you use to track the value and return of marketing investments in creativity?

CARVALHO: Measuring the value and return on marketing investments in creativity involves tracking various measures and metrics to assess the effectiveness of creative campaigns. The specific metrics can vary depending on the goals and objectives of the marketing campaign, but here are some common measures we have used with our clients to evaluate the impact of creative efforts:

• Sales and Revenue Growth: Conversion Rates - measure the percentage of website visitors or leads that convert into customers; Revenue Generated - track the overall revenue generated as a result of the creative marketing campaign.
• Brand Awareness and Perception: Brand Mentions - monitor the frequency and sentiment of brand mentions on social media and other platforms; Brand Recognition - assess the level of recognition and recall among the target audience.
• Engagement Metrics: Click-Through Rate (CTR) - measure the percentage of people who clicked on an ad or content out of the total who saw it; Time on Page - evaluate how much time visitors spend on a website or landing page; Social Media Engagement - track likes, shares, comments, and other interactions on social media platforms.
• Customer Acquisition and Retention: Customer Acquisition Cost (CAC) - determine the cost of acquiring a new customer through the creative campaign; Customer Lifetime Value (CLV) - assess the long-term value of a customer gained through the campaign.
• Lead Generation: Lead Conversion Rates - evaluate the percentage of leads generated through the campaign that ultimately convert into customers; Cost per Lead (CPL) - measure the cost associated with acquiring each lead.
• Website Analytics: Traffic Sources - identify where website traffic is coming from (organic search, social media, referrals) to assess the effectiveness of different channels; Bounce Rate - evaluate the percentage of visitors who leave the site without engaging further.
• Surveys and Feedback: Customer Surveys - collect feedback from customers to understand their perceptions of the creative campaig; Net Promoter Score (NPS) - measure customer satisfaction and likelihood to recommend the brand.
• Return on Investment (ROI): ROI Calculation - assess the financial return on the investment by comparing the gains from the campaign against the costs.
• Social Media Metrics: Follower Growth - track the growth in the number of followers on social media platforms; Social Media Reach - measure the total audience exposed to the campaign on social media.
• Content Performance: Content Engagement - evaluate how well different pieces of creative content perform in terms of engagement and interaction.

It's important to note that the choice of metrics depends on the specific objectives of the marketing campaign. Whether the goal is to increase sales, enhance brand awareness, or engage the audience, selecting and monitoring relevant metrics will provide insights into the success of creative marketing investments. Additionally, using a combination of quantitative and qualitative measures can offer a more comprehensive understanding of the impact of creativity in marketing. Foap’s creative has been a top performer on platforms such as TikTok and Meta.