Podcast Summary: The CPG Guys – Live from Cannes Lions with U.S. Bank’s Michael Lacorazza & Supergood’s Mike Barrett

Podcast Information:

• Title: The CPG Guys
• Hosts: Peter V.S. Bond & Sri Rajagopalan
• Guests: Mike Barrett (Co-Founder & Chief Strategy Officer, Supergood) & Michael Lacarazza (Chief Marketing Officer, U.S. Bank)
• Episode: Live from Cannes Lions with U.S. Bank’s Michael Lacorazza & Supergood’s Mike Barrett
• Release Date: July 16, 2025

Introduction

Sri Rajagopalan (01:15) and Peter V.S. Bond kick off this special episode of The CPG Guys Podcast live from the prestigious Cannes Lions International Festival of Creativity in Cannes, France. They welcome two industry leaders: Mike Barrett from Supergood and Michael Lacorazza from U.S. Bank, setting the stage for an insightful discussion on brand building, emotional storytelling, and the evolving landscape of consumer engagement.

Defining a Brand in the Modern Era

Sri Rajagopalan (03:00) opens the conversation by asking the guests to define a brand in today’s world, where consumers expect both meaning and measurable value.

• Michael Lacarazza (03:29): “The measurable value definition of a brand hasn't changed much. It's still the relationship that people have with a company, however they experience and express that relationship.”

Peter V.S. Bond (04:58) adds that while the essence of a brand remains, the delivery methods have evolved, emphasizing the blend of physical and virtual channels to meet customer expectations.

Notable Quote:

"If you're a brand right now and you're thinking about your relationship with customers, programming content into an operating system that they're using to engage with your brand is something that increasingly brands need to be doing." — Michael Lacarazza [04:12]

Emotional Storytelling vs. Performance Marketing

The hosts delve into the balance between emotional storytelling and performance pressures.

• Michael Lacarazza (07:17): “The best performing stuff is the stuff that generates an emotional reaction.”

• Peter V.S. Bond (09:49): Emphasizes building long-term relationships by communicating how the brand empowers customers through their financial journeys.

Notable Quote:

“When human beings have an overwhelming amount of rational information, they make emotional decisions. That's just what they do.” — Michael Lacarazza [07:36]

The "Power of Us" Campaign: A Case Study

Sri introduces the "Power of Us" campaign between Supergood and U.S. Bank, exploring its inception and impact.

• Peter V.S. Bond (13:40): “Our brand purpose is all around empowerment, empowering human potential through the lens of their financial lives.”

• Michael Lacarazza (14:15): Details the strategic development, focusing on creating memory structures to differentiate U.S. Bank from larger competitors.

Notable Quote:

“We need to focus really hard on a mnemonic strategy that builds memory structures that bring the positioning to life through the lens of the service lines.” — Michael Lacarazza [15:00]

The campaign aims to foster long-term customer relationships by aligning brand messaging with actionable financial solutions and community impact.

Adapting to Shifts in Consumer Behavior and Economic Conditions

The discussion moves to current economic uncertainties, including inflation and tariffs, and their impact on consumer behavior.

• Peter V.S. Bond (20:23): Highlights the cautious mindset among consumers and the importance of great advice and customer experience in navigating economic pressures.

Notable Quote:

“People are starting to shop now using answer engines as ways of getting at questions. This shifts search from being very vertically focused to very horizontally focused.” — Mike Barrett [21:54]

The Role of AI in Marketing and Consumer Interaction

A significant portion of the conversation centers on Artificial Intelligence (AI) and Large Language Models (LLMs) transforming search behaviors and marketing strategies.

• Michael Lacaraza (30:28): “AI is at the core of our business. It’s not magic; it is disruptive.”

• Peter V.S. Bond (30:55): Discusses potential AI applications, such as real-time analysis of customer interactions to enhance experiences.

Notable Quote:

“Consumer behavior of having human conversations with artificial intelligence is arguably the most interesting thing happening right now.” — Michael Lacaraza [41:19]

Building and Maintaining Trust in Financial Services

Trust is underscored as a pivotal element in financial services branding.

• Peter V.S. Bond (27:04): “Trust is core and foundational to everything. If you're doing business with a bank, you have to trust the bank to take care of your money and your needs.”

• Michael Lacarazza (27:55): Emphasizes data security and customer-centric values as key trust builders.

Notable Quote:

“It can take you 30 years to build a reputation when you can lose it in 30 minutes.” — Peter V.S. Bond [27:04]

Marketing Measurement and Key Performance Indicators (KPIs)

The hosts explore how U.S. Bank measures the success of their marketing efforts, focusing on both performance and brand metrics.

• Peter V.S. Bond (34:43): Discusses multi-layered measurement approaches, integrating performance metrics with broader economic value assessments.

• Michael Lacarazza (39:07): Highlights the client-dependent nature of KPIs and the importance of hypothesis-driven strategies.

Notable Quote:

“Here is the economic value of what it's producing for you and why, and here's what your investments are getting you. Now you've got a shot.” — Peter V.S. Bond [39:51]

Current Trends: Attention Economy and Consumer Engagement

The episode wraps up with a discussion on the attention economy and the challenges of capturing consumer engagement in an era of constant digital distractions.

• Mike Barrett (40:48): Expresses fascination with the shift from traditional search engines to LLM-based search, noting its transformative potential.

• Peter V.S. Bond (43:26): Shares personal experiences with Gen Z's phone addiction, highlighting the broader implications for consumer engagement.

Notable Quote:

“It's about the outcome.” — Sri Rajagopalan [44:22]

Conclusion

Sri Rajagopalan (44:36) wraps up the conversation by acknowledging the depth of insights shared by Mike Barrett and Michael Lacorazza. The episode offered valuable masterclasses on brand strategy, emotional storytelling, AI integration, trust-building, and effective marketing measurement—key areas that CPG professionals can leverage to enhance their own brand engagement and loyalty strategies.

Final Thoughts:

• Consistency and clarity in messaging are paramount for successful campaigns.
• Embracing AI as a tool, rather than viewing it as a threat, can unlock new opportunities for consumer engagement.
• Building trust requires a relentless focus on customer-centric values and data security.
• Adapting to consumer behavior shifts is essential in maintaining relevance and driving long-term loyalty.

Key Takeaways:

1. Brand Definition: A brand is the relationship consumers have with a company, evolving through both physical and virtual interactions.
2. Emotional Storytelling: Essential for building loyalty and facilitating emotional decision-making in high-consideration categories.
3. Campaign Strategy: Effective campaigns like "Power of Us" integrate brand purpose with strategic storytelling to differentiate from competitors.
4. AI and Consumer Behavior: AI, especially LLM-based search, is reshaping how consumers interact with brands, necessitating adaptable marketing strategies.
5. Trust in Financial Services: Central to brand success, requiring consistent, customer-centric practices and robust data security.
6. Marketing Metrics: A multi-faceted approach to KPIs ensures alignment with business goals and effective measurement of marketing impact.
7. Attention Economy: Navigating digital distractions requires innovative strategies to capture and retain consumer attention.

Notable Quotes with Timestamps:

• “If you're a brand right now and you're thinking about your relationship with customers, programming content into an operating system that they're using to engage with your brand is something that increasingly brands need to be doing.”
  — Michael Lacarazza [04:12]

• “When human beings have an overwhelming amount of rational information, they make emotional decisions. That's just what they do.”
  — Michael Lacarazza [07:36]

• “We need to focus really hard on a mnemonic strategy that builds memory structures that bring the positioning to life through the lens of the service lines.”
  — Michael Lacarazza [15:00]

• “Trust is core and foundational to everything. If you're doing business with a bank, you have to trust the bank to take care of your money and your needs.”
  — Peter V.S. Bond [27:04]

• “AI is at the core of our business. It’s not magic; it is disruptive.”
  — Michael Lacarazza [30:28]

• “Consumer behavior of having human conversations with artificial intelligence is arguably the most interesting thing happening right now.”
  — Michael Lacarazza [41:19]

This episode of The CPG Guys provides a comprehensive exploration of modern branding, the intersection of CPG and financial services, and the pivotal role of AI and trust in shaping consumer relationships. Whether you're a seasoned marketer or new to the industry, the insights shared by Mike Barrett and Michael Lacorazza offer valuable strategies to navigate and thrive in today’s dynamic market landscape.