Podcast Summary: The CEO’s Guide to Marketing – Episode with Hasbro CMO Jason Bunge

Release Date: April 30, 2025

Introduction

In this insightful episode of The CEO’s Guide to Marketing, hosted by Seth Matlins of Forbes, Jason Bunge, the first-ever Chief Marketing Officer (CMO) at Hasbro, delves into his journey of redefining marketing strategies within the iconic toy giant. Released on April 30, 2025, this conversation unpacks Bunge’s approach to resetting marketing muscle memory, fostering investment appetite, and his candid views on marketing metrics.

1. The Inception of a Trailblazer: Hiring the First CMO at Hasbro

Host: “You come into Hasbro two years ago, the first CMO in their hundred plus year history...” [00:06]

Jason Bunge: Reflects on his hiring, emphasizing that the initial motive from the C-suite was to act as an accelerant for growth amid a declining toy industry. He notes, “...the marketing discipline at Hasbro... really needed to think about it more as a modern organization...” [00:50]

Key Insights:

• Legacy vs. Modern Marketing: Hasbro was grappling with outdated marketing practices that required modernization.
• Capability Gap: The C-suite recognized a need for advanced marketing strategies to stimulate growth.

2. Defining Marketing's Role in Hasbro’s Turnaround

Host: “...the way you look at the company is the business has three parts...” [05:28]

Jason Bunge: Breaks down Hasbro’s business segments—toys, physical games, and digital business—each in different growth stages requiring tailored marketing approaches. He emphasizes, “...what is marketing’s role?... get someone to shelf and then get them to convert.” [12:12]

Key Insights:

• Segment-Specific Strategies: Different business units demand distinct marketing tactics.
• Demand Generation Focus: Prioritizing actions that directly influence sales and shelf presence.

3. Emphasizing Product Excellence Over Brand Aesthetics

Host: “...nothing kills a bad product faster than good marketing...” [04:02]

Jason Bunge: Affirms that great products are foundational, stating, “no amount of great marketing can save any type of bad product.” He stresses the importance of innovation in product development to complement marketing efforts. [09:00]

Key Insights:

• Product Quality: Ensuring product excellence is paramount; marketing amplifies success but cannot compensate for poor products.
• Innovation as a Cornerstone: Continuous product innovation is essential for sustained growth.

4. Innovating Marketing Strategies: Embracing Digital Platforms

Host: “...GE's marketing needed to be as innovative as their products...” [13:10]

Jason Bunge: Discusses the necessity of marketing innovation, citing Hasbro’s late entry into platforms like TikTok. He shares, “...we worked directly with them. We did a campaign in 72 hours around Ouija board and Halloween... all in the spirit of learning what we could do quickly.” [14:06]

Key Insights:

• Experimentation: Rapid testing and iteration on new platforms to discover effective strategies.
• Internal Capabilities: Building in-house expertise to leverage digital tools effectively.

5. Shifting from Vanity Metrics to Data-Driven Decision Making

Host: “...most briefs absolutely suck...” [08:44]

Jason Bunge: Criticizes the reliance on vanity metrics like impressions, declaring, “impressions... doesn't matter.” Instead, he advocates for metrics that reflect true impact, such as return on ad spend and revenue per marketer. [36:21]

Key Insights:

• Meaningful Metrics: Focusing on data that directly correlates with business outcomes.
• Eliminating Noise: Disregarding superficial metrics to concentrate on what truly drives performance.

6. Positioning Marketing as an Investment, Not an Expense

Host: “I think it's the expense nomenclature fact...” [18:31]

Jason Bunge: Engages in a dialogue about redefining marketing as an investment rather than a mere expense. He emphasizes the importance of articulating returns to secure investment approval, stating, “...we started to do iteration and testing on TikTok... innovation, which is experimentation.” [20:05]

Key Insights:

• Language Matters: Framing marketing expenditures as investments to align with financial perspectives.
• Return on Investment (ROI): Demonstrating tangible and intangible returns to justify marketing spend.

7. Collaborating with the C-Suite: Building Credibility and Trust

Host: “...Rich Stoddard, who is our chairman, is incredibly supportive...” [22:06]

Jason Bunge: Highlights the importance of strong relationships with the CEO and CFO. He shares strategies for building credibility, such as providing clear constraints and focusing on measurable outcomes. [30:07]

Key Insights:

• Transparency and Communication: Keeping the C-suite informed with data-backed insights and clear expectations.
• Aligned Objectives: Ensuring that marketing goals are in sync with overall business objectives.

8. Balancing Diverse Marketing Capabilities Across Business Units

Host: “You got to have A plus marketers...” [28:49]

Jason Bunge: Discusses the challenge of managing different marketing needs across Hasbro’s varied business segments. He advocates for hiring specialists over generalists to address specific requirements effectively. [28:50]

Key Insights:

• Specialized Expertise: Employing marketers with specialized skills tailored to each business unit’s unique challenges.
• Iterative Approach: Continuously refining strategies based on feedback and performance data.

9. Encouraging Proactive Marketing and Developing a Point of View

Host: “...you must have a point of view...” [35:35]

Jason Bunge: Encourages marketers to proactively develop and communicate their perspectives through activities like writing white papers. He asserts, “you must have a point of view. You must proactively communicate it.” [37:42]

Key Insights:

• Thought Leadership: Establishing authority and guiding the organization’s marketing direction through proactive insights.
• Setting Expectations: Clearly defining what marketing can achieve to foster alignment and support.

10. Final Thoughts: Embracing Risk and Driving Demand Generation

Host: “Risk is...” [44:28]

Jason Bunge: Concludes by emphasizing that risk in marketing is synonymous with lacking a clear point of view. He stresses that marketing should be seen as the best demand generation tool, countering the myth that a great product alone will drive success. [44:53]

Key Insights:

• Clear Strategic Vision: Minimizing risk by maintaining a well-defined marketing strategy.
• Demand Generation Leadership: Positioning marketing as the primary driver of business growth and demand.

Notable Quotes

• “Nothing kills a bad product faster than good marketing.” – Jason Bunge [04:02]
• “Marketing is the best demand generation tool you're going to have at the company.” – Jason Bunge [44:53]
• “You must have data, you must be transparent, and you must be proactive with a point of view.” – Jason Bunge [35:35]

Conclusion

In this compelling episode, Jason Bunge shares his transformative journey at Hasbro, emphasizing the pivotal role of strategic, data-driven marketing in driving growth and innovation. His insights offer invaluable guidance for CMOs and business leaders aiming to elevate their marketing practices and align them with overarching business objectives. By advocating for specialized expertise, proactive strategies, and transparent communication, Bunge underscores the evolving nature of marketing as a critical investment for sustained business success.