Warren Kornblum on Toys R Us From the Brand Stand [017]

Episode Discription

Warren Kornblum and I have known each other for more than twenty-five years. We share a piece of history: he was chief marketing officer of Toys "R" Us in the years before the 2005 buyout, and I arrived just after it. In this conversation he tells the story of walking in from the agency world in 1999. The marketing team had shelved the jingle, was phasing out Geoffrey the giraffe, and had let the big toy book lose its luster. His first move was to bring all three back. We talk candidly about what happened after the company was taken private, from selling the best stores to fighting for money to fix the bathrooms. Warren explains why owners who buy a brand and then cut what the customer touches are "buying a Ferrari and putting diesel fuel in it." He also shares the one decision he still wishes he had fought harder for. We go on to Rooms To Go and what makes it one of the best home furnishings retailers in the country.

The heart of the episode is Warren's idea of Share of Heart. Share of mind and share of wallet matter, but when a customer sees your brand as part of their world, you have won. If you disappoint them, it cuts as deep as a friend letting you down. We talk about his new book, Notes From The Brand Stand. We cover why trust comes from caring, the three answers he hears when he asks employees about the mission statement on the lobby wall, and why every CEO should put on a headset and listen to customers. We close on AI. Warren believes it will be table stakes: a machine can show you forty-nine of the fifty-two cards, and your job is the three it can't see. If you lead a brand, sell anything, or care about earning a customer's loyalty, this one is for you.

Watch the full conversation on YouTube.

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