Advertising
Age reported on the latest move for Brad Jakeman, who joined Boston Consulting Group as a senior advisor. The
trade journal speculated that Jakeman, “who
is well-connected with some of the industry’s most influential CMOs, will be
charged with tapping into those networks to get Boston Consulting
Group more embedded with key decision makers.” Plus, Jakeman may be involved with “helping marketers
bolster their in-house marketing teams, which by itself could prove to be a
long-term threat to agencies, which have been contending with the so-called
in-housing trend in recent years.” Okay, so Jakeman will be engaging in cronyism and
leveraging his experience with the failed Creators League and the ultra-failed Pepsi commercial…? Plus,
the pseudo diversity defender is now part of a global firm whose leadership
does not appear to be very diverse. Perfect.
Boston Consulting Group
Hires Ex-PepsiCo Exec Brad Jakeman As It Bolsters CMO Outreach
By E.J. Schultz
Boston
Consulting Group has hired former PepsiCo executive Brad Jakeman as it moves to
bolster outreach to chief marketing officers that are taking on broader roles
inside large corporations.
Jakeman,
who comes aboard as a senior advisor, left PepsiCo in late 2017 after
seven years to start his own consultancy. He had served as
president of the company’s Global Beverage Group, giving him purview over strategy,
brand building, design, advertising, marketing and innovation for brands
including Pepsi, Mtn Dew and Gatorade across more than 150 countries.
Previously he held marketing roles at Activision Blizzard and Macy’s.
Jakeman,
who is well-connected with some of the industry’s most influential CMOs, will
be charged with tapping into those networks to get Boston Consulting
Group more embedded with key decision makers. Jakeman
will “strengthen our efforts toward building an actively-engaged CMO
community, and ...further build out our external marketing strategies and
approaches,” Boston Consulting Group Managing Director and Senior Partner Mark
Abraham stated in an internal memo announcing the hire. He called Jakeman a
“global operating executive with a marketer’s heart.”
CMOs
have emerged as a key target for management consultancies in recent years as
their roles have expanded to cover a lot more than traditional advertising.
“Marketing is moving from this megaphone-to-everyone approach to a more
targeted and personalized approach,” Jakeman said in an interview today. As a
result, the “role of the CMO has never been more complex than it is right now.
The CMO today is expected to be part chief innovator, part chief storyteller,
part growth officer, part data specialist, part consumer advocate, part
technocrat.”
But
with that complexity comes more opportunities for management consultancies,
which are increasingly competing with agencies. Firms like Accenture and
Deloitte have sought new ins to the C-Suite by building out their creative
service offerings—often via acquisitions—that are sometimes used as an
entry to bigger projects.
Boston
Consulting Group is part of the elite trio of management consultancies—along
with McKinsey & Co. and Bain & Co.—that are considered the
most-prestigious players in the consulting world. The three firms
have deep strategic consulting practices that cover a range of business areas
including marketing.
The
three firms, collectively known as “MBB,” in some ways operate on a different
plane from fast-growing major consultancies in the marketing space that have or
had historic ties to accounting firms: Accenture Interactive (part of
Accenture’s Accenture Digital); Deloitte Digital (part of Deloitte’s Deloitte
Consulting); and PwC Digital Services (part of PricewaterhouseCoopers’ PwC
Advisory).
Jakeman
will join BCG’s Marketing, Sales, and Pricing (MSP) practice,
whose offerings include consultation on data-driven marketing, personalization
and customer experience, technology stacks, and organizational change,
according to its website.
“I
wouldn't say BCG is taking on agencies,” Jakeman says. “I imagine we will be
working alongside a lot of agencies but will be doing things that are very
different.” But that could include helping marketers bolster their in-house
marketing teams, which by itself could prove to be a long-term threat to
agencies, which have been contending with the so-called in-housing trend in
recent years.
At
PepsiCo, Jakeman led the creation of the marketer’s in-house content creation
arm, called Creators League Studio, which sought to leverage the power of
PepsiCo’s brands with branded and unbranded content, including scripted series,
films and music recordings. It had many hits, including backing the 2018 film “Uncle Drew,” which was based on
a character played by National Basketball Association star Kyrie Irving
who began appearing for Pepsi as “Uncle Drew” in a 2012 campaign that went
viral.
But
Creators League was also behind Pepsi’s widely mocked Kendall Jenner ad
from 2017. In a candid conversation about the experience, Jakeman
in an interview during an Ad Age event that year called the backlash “the most
gut-wrenching experience of my career.”
As
he joins Boston Consulting Group, Jakeman will continue serving as founder and
managing partner of Rethink Food, described in his new employer’s internal
announcement as “a social impact venture fund with the mission of providing
accessibility to more nutritious food and beverages to more people by investing
in innovative business models in agriculture, technology, processing and
consumer packaged goods.”
Contributing:
Bradley Johnson