Where top marketers are finding growth amid economic uncertainty

MYOB, Reddit and Airwallex’s newly-appointed marketing leaders are doubling down on understanding fast-changing customer needs, storytelling and brand communication.

Jon Stona is global payments service Airwallex new global head of marketing.

Despite economic headwinds, a string of newly-appointed marketing leaders are finding growth in many corners of their businesses, who each told The Growth Agenda, they are focusing on strengthening customer relationships more than ever.

Incoming chief marketing officer at SME business management platform MYOB, Dean Chadwick said that the company is leaning heavily into customer-centric communication, as it pushes ahead with its own digital transformation.

“Right now, listening to our customers and keeping a watchful eye to the market context are the most powerful tools at our disposal. This is an important moment to build trust and deepen relationships with our customers,” he said.

“The economic conditions mean that many SME and mid-market businesses are being more discerning about their investments, and being aware of these prioritisation decisions means we can provide important context about how MYOB’s business management platform can add meaningful value to their businesses. It’s not possible to over-communicate relevant information which helps our customers achieve their goals, and we intend to make this as easy to access as possible.”

Incoming MYOB chief marketing officer, Dean Chadwick.

Meanwhile, the rapidly expanding global payments service Airwallex said its marketing needs to find the “sweet spot” in the value exchange with customers.

In April, Airwallex announced it will further expand into Canada as part of its growing presence in the Americas region, where its customer base has increased by more than 300 per cent year-on-year.

In late 2022, it appointed Jon Stona to take on a newly created role as global head of marketing. Mr Stona, who has previously worked with the likes of Google, Nike and Stripe in senior marketing roles.

“At a practical level a B2B company like ours has to obsess about the pain points businesses and decision-makers feel, and highlight how our products and our company act as partners.”

For Airwallex, content is king. This has meant leveraging storytelling with a focus on helping its audiences expand internationally, too.

Jon Stona is global payments service Airwallex new global head of marketing.

“One example would be ramping up efforts in high-quality, useful content marketing – so not artificial click bait, but guides that can help business owners navigate global expansion and find ways to boost their results. That means being a true and trusted partner – offering valuable and authentic content, advice, and support to prospects and customers. We’ve found they reward us with growth over time.”

Mr Stona also said that the business offers “value” to existing customers by introducing them to other products that are relevant to their needs.

“A customer might start with us by using our ‘foreign exchange’ products, but then very quickly realise the power of ‘embedded finance’ and how Airwallex can help them unlock value in the way they collect, manage and spend their funds,” he said.

“As a broader trend beyond belt tightening, we’re seeing more businesses investing in reaching new customers further afield in bigger and more profitable markets. Even the smallest sole trader can end up being a multinational business, and we’re seeing a lot of our customers look beyond their shores for that growth.”

In another newly created position, social platform Reddit has appointed an EVP of business marketing and growth, San Francisco-based Jim Squires, who has been tasked with growing the business’s advertising proposition to brands.

Social platform Reddit has appointed Jim Squires as EVP of business marketing and growth.

“In an incredibly competitive and difficult economic environment, businesses around the world have been challenged to re–evaluate their marketing needs, diversify channel strategy and to identify cost-efficiencies, to deliver greater return on investment,” Mr Squires said.

The community-driven platform, which attracts users who share recommendations, is offering an insight into how consumer attitudes are shifting. These insights are proving attractive to brands who also wish to reach these audiences.

“On the consumer side, we see a shift away from impulse buying towards more research and recommendation-based purchases like those found on Reddit. People are still spending, but they are being more thoughtful about how they justify purchases. This only increases the relevance of online communities for marketers, as they’re trusted places where audiences are turning for information about both goods and services.

“In the process, we’ve seen many global and local brands, including Finder.com.au, Paramount and many more, find value by showing up in Reddit’s communities. Specifically, Finder.com.au’s campaign generated 2X higher conversion rates for downloads of Finder’s banking app compared to other channels. With these kinds of results, we’re seeing brands and media agencies embrace Reddit as part of their broader advertising strategies.”