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Hello and welcome. You're listening to Marketing Matters on the Wharton Podcast
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Network, which is our weekly podcast where we analyze the latest in advertising, marketing, customer
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behavior, new product launches, retailing. I'm Barbara Khan, the Patty and JH Baker Professor of Marketing. And
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my co-host host, America's Reed, is out of town. I think he's in Austin. um he's
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doing his magic somewhere else, but he'll be back and he's sorry to miss
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this show, but instead of him, we have a wonderful guest. So, I'm really excited
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about having our guest and we'll try to do without Americas this time. Let me
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introduce Shannon Sheay Montoya who's the global head of B2B marketing and sponsorships and events at Yahoo. Hello,
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Shannon. >> Hi, Barbara. I'm so excited to spend part of my day with you. Thank you for
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having me. >> Yeah, I'm really excited to have you both because of your particular role,
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your background, things you've done in the past. I want to talk about all of
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that, but also about Yahoo. So, let's start with Yahoo just a little bit. So,
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pe remind people um what Yahoo does, how they make their money, things like that.
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Obviously, Yahoo is a well-known brand. I think a lot of people have the brand awareness of Yahoo, but I mean, I wonder
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if you'll disagree with me to say that >> it used to be the king of the internet.
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Like, it was the name that came to mind top of mind maybe in the 2000s and now it's gotten a lot of competition from
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other platforms. So, it's kind of an interesting marketing story because you
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do have brand awareness. People kind of know what Yahoo does. Um, but it's not
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at the peak that it once was. First of all, do you agree with that with that assessment or disagree?
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>> Well, I might have some things that might surprise you in the audience a
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little bit. So, Yahoo, we're actually celebrating our 30th anniversary this year, which is really exciting. And um
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you know, Yahoo is still a top five internet property. >> Uh 90% of the US internet population
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comes to Yahoo every month. So, that's nine and 10 people come to Yahoo every
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month. That's >> That does surprise me. a massive audience and out of that nearly 50%
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of unique uh visitors to Yahoo are Gen Z and Millennials. So also a younger user
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base as well. >> Um you know and then Yahoo has just an incredible portfolio of products and
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brands including Yahoo Finance, Yahoo Sports, Yahoo News, Search Mail. Um there's been ton and we've spent the
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last couple of years really cooking on that product innovation have been coming out with new releases and we'll continue
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to do so. So a lot of exciting innovation happening at Yahoo right now and again like massive audience across
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the board. >> Yeah. I mean I I didn't mean to diminish that because I did see another statistic
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that said that you had three billion web visits in February was on par with Amazon. So it's not not top liver, so to
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speak. >> Exactly. Exactly. And and it is a brand that people, you know, they know and
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they and they really like. Yahoo. Yahoo has a general sentiment around it that's
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that's joy and celebratory. And what we, you know, our goal is to really try and
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be that that place to help you achieve your goals on a daily basis. So whether that's, you know, checking your mail or
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checking your uh, you know, investments or maybe crushing it in fantasy, of which I have a little work to do in my
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own fantasy bracket. Um, but I'm I'm doing okay. I'm riding midfield right
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now. But, um, you know, all of these all of these things help you to accomplish,
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you know, these little goals and these little tasks every day um that bring that that joy and enjoyment to your
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life. So, let's just I mean I just want to just quickly run down the revenue
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models just so we see and then where you fit in and what your goals are. So, I mean I guess their primary service is
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web portal, online service, content and media and like you said they have some premium services, some subscriptions um
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that are pretty big. They obviously make I mean they have email and communication
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which you already mentioned and then they obviously make money on advertising on technology. A lot of the revenue I
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think comes through advertising and and subscription. And then where I think you
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come in, there's also this small business domain hosting and a lot of B2B business. Do you want to and that's I
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think kind of where your where your job is. Is that right? Or I think that was in your title.
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>> Yeah. So part of my role um I do oversee all of our in a very simplified format.
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It's all of our um it's all of our business and experience marketing. So
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business includes all of our B2B marketing and really what we're doing is supporting the advertising across Yahoo.
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We have two different advertising divisions within Yahoo. We have Yahoo ads which is a direct business into our
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owned and operated um into our owned and operated properties including Yahoo Sports, Yahoo Finance, Yah and given the
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reach and scale and unique data that we get from all of those properties, it's a
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pretty incredible offering to the advertising community. The other advertising offering that we have is our
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Yahoo DSP. And for the audience who might not know, a DSP is a demandside platform. And I think the easiest way to
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describe that is if you think about it in the realm of sort of stocks. So instead of instead of trading on stocks,
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we actually trade on attention. And so every every um micro investment um into impressions is a way in which
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you you know reach your audiences and achieve your marketing goals and results. Um you know in a in a stock
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portfolio you trade on the New York Stock Exchange or you trade on NASDAQ. In digital marketing, you trade on the
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DSP connects you to exchanges um that allow you to you know success again successfully
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deliver on your marketing objectives. So it's easy to kind of think about it
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comparison to the stock market. Um it's just it's essentially the way digital
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digital exchanges work. The difference is stocks versus attention. And so what I oversee is a lot of our business
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marketing that is to connect to those advertisers. And where I come into play is really,
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you know, what's important is really differentiating differentiating both our
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ads offering, our Yahoo ads offering and our Yahoo DSP offering, which is um it's
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it's it is the number one rated DSP amongst um our customers. And also in head-to-head competition against other
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DSPs, the Yahoo DSP wins 90% of the time. I don't know how many things win 90% of the time, but again, that's a
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pretty incredible offering. And so, where we come in is really around uh the storytelling of that. So, how are we
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telling a differentiated story and narrative in the market that showcases these unique offerings
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built on this incredible firstparty data that we get from search, from mail, and
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from content, which again makes us a really unique offering to the advertising community.
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>> Yeah. So, I'm going to talk about some of the other things that you do and I
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would like to talk a little bit about your background, but let me double down on this idea of storytelling that you
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just brought up. Um, so can you give us some examples of how storytelling can make a measurable impact? Um, you know,
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how can you measure that? How do you know story? It's fine to say that, but how do you really know that how
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important storytelling is and and how it impacts the business? >> Yeah. So, so storytelling for me is
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something that's very much in my ethos. I come from a big big family and so storytelling and being good at stories
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was a way to win you the conversation at the dinner table. Um, so it's something
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that's, you know, a big part of my life. I and and um something that I love to
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do. It's part of what brings me so much joy. Um I was at you know and probably
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for me one of the earliest examples of really good storytelling was years ago um it still exists today but in a
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different form. There was a uh museum, a small museum in Paris in Mumar um dedicated to Salvador
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Delhi, one of the greatest storytellers of our time, right? He >> from filmmaker to musician to inventor
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to artist, just an incredible storyteller. And there was this very small museum. It was like a hidden gem
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in Paris. And and you walked downstairs and you were brought into this world of Salvador Dolly. his voice played in the
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background and all his sculptures sort of came to light and the lights would dim and and get brighter as he got
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closer to it and and there was um you know his his famous statue of the Venus deio with the with the drawers
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>> and it's all around the idea that you you know build these memories throughout
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your lifetime that then impact who you become in the future, the decisions you're make you make and how
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you live out your life. So, fast forward, I was at an event a few weeks ago with Giant Spoon. Um, and they had
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an incredible um chef there from Unapologetic Foods who your interview a few weeks ago from Resi. She she
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referenced the chef from Unapologetic Foods and some of the work they had been doing with him. uh we had a filmmaker
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there and then there was a neuroscientist there and he described memory as it's past
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events that influence decisions in the future and what storytelling does is storytelling can then shape and
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transform that memory to make it even more impactful. So what would have been just a sort of normal memory makes it
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something that's absolutely unforgettable. And then what I love about that is you
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take it a step further and think about some of the work that we're doing. Those
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shared stories then become um collective memory, right? And so all of a sudden what you've done within that
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marketing campaign or event or live experience extends beyond the people even that are within that room. You can
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do that through social, you can do that through digital. You can do that through
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influencer. All of these different channels that help to to scale that experience to a much greater degree.
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>> So So let me just summarize a little bit of what you just said if I understand
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it. And I'm thinking I just finished reading the undoing project which was about Danny Conorman and Amos Tverki and
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they came up with this you know behavioral economics and different ways of thinking about it. And the way you
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just described it is one of the things that Danny Conorman did independent of Amos actually after Amos um died and and
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part of the reason he got the um Nobel Prize was this idea of retrospective or memories shaping your expectation.
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So it shapes your future impression. That's like what I think you said. Um this idea that the reason it's important
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is because of the way it shapes going forward what you remember. Um and creating this salient memory. That's
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what I think you said. Is that did I get that right? >> Yeah, I think that's spot on. And I
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think what's really interesting is what a marketer does or I always refer to my
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team as live storytellers. What they do is they come in and they harness those memories, right, of what we build
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alongside and for our customers and consumers and they shape that and they strengthen that memory to a much greater
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degree so that it has an even stronger lasting impact on um how on their actions towards not only your
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organization but the future. So in essence sort of at the end of the day um you know me and my team are really in
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that business of creating memories that not only move people but move markets. >> Yeah. So that so that's interesting. So,
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I get the theory and I actually think, like I said, I think it it's a Nobel Prize winning theory in some sense
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because this idea of how these things link together is is important and it was um theoretically it's an interesting
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idea as well as practically as you're describing it and and living it really.
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But what I'm wondering is um can you how do you do measurement in that? Do you
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actually measure like attention and then memory and then do any kind of analytics
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on like what creates or is it a lot of kind of instinct or I guess that's the
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question how much of it is based on data that you literally know form these memories and then form expectations or
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is it kind of intuitive and creatives do it? >> Well, I think it's a it's a little bit
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of all of that, right? So you have to you have to lean into your data and insights to make sure that you know what
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you're doing is going to resonate um and has cultural relevance to it as well. Um
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you know like like like all brands you know Yahoo as well is trying to reach a younger generation of u millennials and
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gen Z's. So when we think about the types of executions that we're doing we
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want to make sure that we are really leaned in to what's happening in culture. And so the data and insights of
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course help to inform what that looks like. Um and then on top of it, you know, there is a sense of creativity and
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you have to um you know, and we have measurement of sort of what's worked for
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us in the past. Um you know, how we continue to evolve that in bringing the brand to life. But I think a really good
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example of this is, you know, we did a consumer experience at South by Southwest um a couple of years ago. Uh
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we partnered with this incredible human being. His name is Marty Bell. He started a company called um Pool Suite
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and it was to he was he was uh from Scotland and it was a digital it was a digital radio station with these sort of
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retro8s 90s kind of discoesque tones that really took you on a vacation. And the reason being is he was in Scotland
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during these cold winters and he really wanted to just vacation away from all of
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that. And then on top of that he started adding these incredible um you know retro beach images from the 80s and the
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'9s and just created this whole vibe around this world. you know, for for Yahoo as well, being that we're, you
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know, 30-year-old company, we started on the early onset of the internet in the '9s and yet, you know, continue to have
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this strong relevance and audience today. Leaning into that nostalgia and that modern vintage is something that's
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also really important to us. So, we recognized, you know, that Marty started to get this incredible audience of
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influencers and taste makers. We wanted to show up at South by Southwest. So we partnered together on this incredible
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experience. Um we called it disco necked. Um so disco and then necked. Um as an opportunity to really lean into
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the vibe of what was happening today in internet culture and that people wanted a moment to just disconnect and time
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away. And so netn net the experience was we took over the hotel vanzant in in Austin, Texas during South by Southwest.
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The audience was influencers and taste makers that we wanted to get get in front of
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>> and we threw this 10-hour party 10 hours Barbara backtoback non-stop line around
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the block >> for 10 full hours >> and just transported people into this
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early internet vibe. >> Oh wow. So, you know, you walked in, the entire >> It was so fun. The entire space was
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covered in disco balls and palm frrons. We did the We did the complete space. We
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had You were greeted by this incredible influencer, Corey Ray, who was sitting at, you know, a '9s style desk. Um, old
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school secretary sort of checking you into the party. Um we had uh drinks that were named like dialup daquiri, so
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custom drinks made. Um just this really incredible combination of bringing together the data and insights around
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what was happening in culture uh alongside um you know just this incredible creativity that we co-created
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with this the Marty Bell and the amazing team at Pool Suite. And throughout the day, we had over 2,000 people. You know,
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one of my favorite comments from the day was, "Yahoo is a move. I'll take it.
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Yahoo is a move." And um there was awesome sort of scale and content uh content and scale coming out of that
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event as well. So, I think a really good representation. Also, I oversee all of our um media and brand partnerships and
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just a really good representation of how partners can help you achieve those goals.
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>> Yeah. Yeah. Collaborators. That's Yeah, that's an interesting thing. That's
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definitely the style of today's go to market strategies, who you're going to
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collaborate with, and how you So, what you're describing create these storytellers, create these memories
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because they're important to shape the brand and shape future experiences. And
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now you just described this physical activation and from what I understand Yahoo is really doubling down now on
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these physical act um activations and looking for places to to put them in the culture. I guess you're also probably I
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mean the people who you want there will be the influencers will be people who are um I mean I guess you don't want
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just anybody in these. You only have 2,000 people. You have a small select audience in there. If you consider the
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whole world, >> it would be better if they were >> people that you know you're going to get
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more of an impact on. So my guess is you do these physical activations in specific places because they sound
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pretty expensive. They may deliver a lot of value, but you're going to have to
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pick and choose where you're going to do it. And I know you recently did one at
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Con. Is that right? Um yeah. >> And so like I mean the one you just described was at South by Southwest. So,
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you're at a conference that attracts a certain kind of people at Khan. I mean,
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I never been to Khan, but it sounds pretty cool. I mean, I guess it's people
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in the film industry, social media influencers, like who goes to Khan and why did you choose that? And then what
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did you do at Khan in that sense? >> Well, I think you hit on something really important, right? And in first
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and foremost, you have to really when you're when you're building these strategies, you have to be super
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centered on who your audience is and what you're hoping to achieve from that
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audience, right? And so South by Southwest was a very specific move to get in front of influencers and taste
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makers. It was a consumer first event from the business side. Can which is actually it's interesting most people
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are aware of the film festival. What they don't know or people within the advertising um industry are well aware
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of is that about a month after the film festival there's another festival called
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the can lions festival of creativity and it is an advertising and marketing festival it is actually bigger than the
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can film festival >> and it brings the likes of uh Yahoo, Google, Pinterest, uh Meta, all of the
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major players within the advertising and marketing industry. >> Oh wow, what a great event.
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>> Yeah, Barbara, you should be there. You always, you know, you have >> drooling. It sounds terrific.
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>> It's terrific. And it's it's they take over, we take over the entire can. It's
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like an a massive reunion of sorts in some way. Um, but there are incredible conversations taking place around
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creativity and around collaboration and how brands can work together. Um it's
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it's it's one of the most important moments that we create um throughout the
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year. So we show up there every year. This is a business audience. So we are trying to reach
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>> advertisers across brands and agencies. Um and this past year I think was one of
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our our best years ever. So we were once again leaning into nostalgia. we were leaning into that that that modern
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vintage spirit and tone that we love so much. And one of the insights we had was
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that first and foremost we a lot of people remember Yahoo for the iconic Billboard in San Francisco, a nice place
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to stay on the internet. Um, and that's a a big part of our ethos and something
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we play into quite a bit. And then on top of that, we were also noticing this trend that people were, you know, taking
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over these old motel and turning them into these full experience destinations. >> And we didn't know that was a trend.
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That's interesting. >> It's a trend. It's a trend. Um, we we loved that idea. And so we built this
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year at Can we took over an entire beach and we built an erected motel Yahoo which you can see above me uh was one of
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the signs that came from that beach space. It did make it over here all the way from Can France which I'm very it
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just only came the other day. This is a festival that happens in June. Um and it
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was uh we completely transformed this space. And what I what I really love about that is that we took sometimes
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what are normally kind of boring stats or and we we developed them into experiences. So to showcase the variety
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of our products, we had, you know, the Yahoo search bar which served as our bar. We had a reception desk where you
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could pick up a key that had a different um a different Yahoo fact on it and that
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key would take you to a private meeting room of which you would meet with you know our salespeople would meet with um
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with their clients. Uh we had uh for Yahoo mail we had this incredible we had like a mailbox and we did these custom
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postcards because people are away from their families a week and so and you don't have time to really you know do
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touristy things while you're in can. So we had all of these postcards made. You
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could send them through Yahoo Mail Home. Uh we had a mini golf course that was Yahoo Sports and we showcased some of
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the the awesome Yahoo Sports partnerships that we had done recently. Um so just a really incredible way to
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bring the brand to life in a fun way that people could see it, feel it, taste it um in this spirit of modern vintage.
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And so it's really once again about bringing these joyful moments to life. I
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just want to interrupt for you one second because what's interesting to me about what you're talking about is you
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are a digital brand. You know that's what you are and yet what you're talking
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about here to create these memories is a very physical activation and and I that's I love that because people think
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we're getting more and more digital. I think what's special about this is that
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you're going to the right place at the right time getting people together so
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you get that social effect. But as you're telling me this story, I can picture these things. And I can imagine
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if I was there, the fact that it was a physical activation would make it very salient. Just as you said in the
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beginning at, you know, when you were a kid growing up in your family, it would definitely be a concrete story that I
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would tell other people because it would shape a memory. And it's because it's
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this physical activation that it becomes such a salient memory. Do you think that's true?
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>> Yes. And people are craving that, Barbara. They're craving these in-person
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moments. And and I think it is because, you know, there there's so much of an
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overlap now between your work life and your personal life. And these become those memories and these stories that
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they then share on, right? And that's how we that's how we scale and grow
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everything that we're doing. But there's it is such a tangible way to get people
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excited about the brand and what you're doing. So, it sounds like a great idea,
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but it also sounds like a lot of work. I'm just curious like I mean everything
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you described, how long did it take you and your team to put together something like this? That's
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>> I'm thinking like >> Well, this is a it's a year >> it's a that can in itself is a year-long
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endeavor, right? And we finished can and then next week we're already talking
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about what we're going to do next year. Yeah. >> But this is among a multitude of other
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things that we're doing as well. Right. So, we have a big presence at CES. We
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have a big presence at there's a new uh festival uh called Possible that takes
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place in May um down in Miami. I'm sorry, in April down in Miami. Uh we have our Yahoo New Front, which is our
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showcase of all of our digital content to advertisers that takes place in New York. Uh, you know, we've had the likes
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of everyone from Carmelo Anthony to Russell Wilson to Chance the Rapper to Diplo. All of this talent that we're
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partnering with to help to drive home, >> you know, our story and where we're
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going. >> You've convinced me. I want your job. Like, I do love my job. I love my I do. And
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because I love I love storytelling and I love creating memories. But you know, one of the things I love the most,
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Barbara, is that I attend a lot of these a lot of these thought leadership conversations
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and people ask, you know, what's the most important thing people need to have
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in marketing and they say curiosity and everyone says curiosity and I love it. Of course, we want people to feel
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curious or to be curious. The problem with curiosity is that even with curiosity, you're going to you're going
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to edge one direction or the other, right? So, part of my philosophy is to just say
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yes to things. Say yes. Say yes to going out to dinner when you're tired. Say yes
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to working with a new partner. Say yes to trying something that you've never
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done before and using it as a test and learn. It's in those moments that you
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know, you leverage the data, the insights, the creativity. You pull that all together. But I think what makes an
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exceptional marketer is those who are able to pull back a little bit and let the the unknown happen. Let the magic
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happen on its own. And one of my favorite stories about that is uh a couple of years ago we at CES
00:27:43
we have a combination our strategy includes a combination of you know developing these spaces for these
00:27:50
onetoone meetings to take place with advertisers and then finding a moment where we can reach our audience our our
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customer audience our client audience at scale. And so that's often through these
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big parties and events. And so we decided to after deciding what kind of talent we wanted to work with,
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we decided to work with Wuang. Now Wuang had just celebrated their 30th anniversary of 36 Chambers, which was
00:28:20
their first album. They had just announced a residency in Las Vegas, which we were going to be at. They have
00:28:28
incredible longstanding cultural relevance. I know you and I were vibing on Brooklyn earlier and I swear every
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third person in Brooklyn is still wearing a Wuang t-shirt, including like little 5-year-old kids.
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So, the incredible thing about the Wuang Clan is that there are eight, originally
00:28:49
nine, but we'll put an aster there are members of Wuang Clan. So, you don't really know what you're
00:28:56
going to get. You don't. We didn't totally know whether we were going to
00:29:00
get all eight members. Maybe we'd get six, maybe we'd get five. We were hoping
00:29:04
for all eight. The night comes and we get notification right before all eight are there. All eight.
00:29:12
Curtains open. We're at this incredible venue called Voltater, the Venetian, um,
00:29:17
which is also under the Apollo portfolio, as is Yahoo. curtains open and then one by one they have this
00:29:25
incredible we put this incredible video surrounding it. We did custom merch with
00:29:30
Wuang Clan. We did, you know, had an incredible experience built around it. But what they delivered and what we
00:29:36
allowed the artists to do best was they all came out one by one in shadow. The audience is going nuts. They do all of
00:29:45
their original songs from 36 Chambers. And then they did um they did covers of things like the Beatles and the Stones
00:29:56
and some of the best renditions I've heard. >> But what was amazing is the final sort
00:30:02
of segment they did was an homage to to hip-hop artists who have passed away. M >> so Biggie, Tupac, DMX,
00:30:11
and then they pause for a second and they say, "And the greatest of all time,
00:30:16
OB, who was the the original Wuang member who had passed away here." The perform
00:30:23
for him is his son, YB. Oh, good. He comes out. He's a spitting image of his
00:30:31
father, but with his own style and his own flare. And everyone just you could just see the excitement
00:30:39
>> in that room and those memories building >> to a point where you know it just these
00:30:45
are things that people are going to share for generations and generations. Incredible.
00:30:50
>> It's like breathtaking. You are a very good storyteller. But you know what? Our
00:30:55
time is up. Thank you so much for joining us. Where can our listeners go to keep up with all of this and learn
00:31:01
all about this? You can go to yahooink.com, our website. And of course, you go to yahoo.com, visit our
00:31:08
incredible pro products and all of the work that we're doing across Yahoo to
00:31:13
really connect you to the things that you love and to one another. >> That sounds great. Thank you so much for
00:31:19
joining us today. Um, and I'd like to thank our producers, Dion Simkins and Marissa Rena. Thank you all for
00:31:25
listening. We'll be back next week. Till then, this has been Marketing Matters on
00:31:29
the Wharton Podcast Network. I'm Barb Khan here without America's rea but
00:31:35
he'll be back next week. Thank you. [Music]