CMO Spotlight | Joe Foster - Reebok

The CMO Spotlight is a chance to get an inside look into the minds and journeys of high-performing marketing leaders. 

Setup CEO + Founder, Joe Koufman, spoke with the Co-Founder of Reebok, Joe Foster, about the foundation behind building a strong brand, the importance of listening as a leader, Winston Churchill, and more. 

“Just take a risk. If it doesn’t work, it doesn’t work. But if you don’t take it, you’ll never know.”

WATCH + READ THE RECAP BELOW (SCROLL TO THE END FOR THE FULL INTERVIEW)

Q1 | What advice would you share with marketers?

Foster advises that if you’re in a specific industry or type of business, then it is important to know everything about that business, “from A to Z.” Once you know everything, make sure to create an attractive brand that connects to and influences the market. If you don’t know how to influence the market, learn. 

Another piece of advice that will help build your brand and your team is finding your story. “One of the other things I would say to anybody is find out what your story is. You must have a story. Stories will build your brand these days. And always refer to the brand [as to not divert attention].” 

Q2 | What is your superpower?

“Listening to people.”

Foster made a point that you can only get so far alone until you need a team of brilliant people beside you to push the work forward. So it’s important as the boss to build a team and listen to their feedback. Developing the right product requires the right people on the team. People who are enthusiastic about the brand and want to influence other people to fall in love with the brand. You and your team need to want to succeed and want to be in the business, and also enjoy the effort and time you’re putting into the hard work. “You got to want something, and you can only do that if you're enjoying it.”  

Q3 | What values are important to you?

Foster is not a fan of egos. He believes in the statement, “There is no ‘i’ in ‘team,’” which is why he is adamant about building strong teams and listening as a leader. 

With this mentality, people wanted to work for Reebok, and they developed a winning culture. Foster thinks that when you're the boss of the company, you shouldn't have a job. “You should be there to listen to people, help people. If people have to make a decision, make a decision. If it's the wrong one, let's change it. Let's talk about it. So be in that position where you can help. Listen to people. So listening to people is very important, and making sure that they share the energy, they share that pleasure, that fun of being part of a company.”

Q4 | How do you know it’s time to diversify your brand?

At the time, the sport brands like Adidas and Nike leaned on men as their target consumer. When Reebok opened their brand up to cater to women in aerobics, it was a massive game changer. The shoe all of a sudden became about comfort and exclusivity, which led to more exposure and desire. The comfort was something everyone could relate to, and soon the shoe became street. 

Not only did Reebok’s decision to market towards aerobics expand their market, it expanded their profits from 9 million to 900 million and let them take more risks. Their journey started as a running company, but then transformed into a women’s company, and then into performance. And this timeline is what caused Reebok to become the first lifestyle company. 

Q5 | What is a quote that inspires you?

Foster is inspired by Winston Churchill’s journey and strength.

There’s a statue of Churchill in Paris that states, “We should never surrender.” Foster admires that Churchill always took risks. 

“He took a lot of risks in life, and I think that's what probably inspired me. Just take a risk. If it doesn't work, it doesn't work. But if you don't take it, you'll never know.” If Foster never took a risk to co-found Reebok, the shoe industry as we know it would be completely different. So take those chances and believe. 

For more marketing leadership advice and a view into the mindset of marketing executives in various industries, be sure to watch the full interview with Joe Foster, and keep an eye out for more thought leadership from our CMO Spotlights.

WATCH THE FULL INTERVIEW TO THE RIGHT.

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