Experienced Marketing Executive
Beth Hirschhorn, Executive Vice President, Global Brand & Marketing, MetLife, Inc.
About Beth Hirschhorn
Beth Hirschhorn works as executive vice president and chief marketing officer with Kaplan, Inc., the diversified global education company. In this position, she is working to shape the education company's brand management, digital and social media, and customer experience functions. Furthermore, she teaches as an adjunct professor at New York University, her alma mater. Prior to joining Kaplan, Beth Hirschhorn was the executive vice president and chief marketing officer at MetLife after leading marketing for their U.S. Insurance and Financial Services division.
Over the course of her career, Beth Hirschhorn has been affiliated with several professional organizations and associations dedicated to solving retirement security issues. She served as an Advisory Board member of the Pension Research Council at the Wharton School of Business. She was a policy board member for the American Savings and Education Council as well as a member of the pension policy committee at MetLife.
Customer Relationship Management
Beth Hirschhorn joined Kaplan, Inc., the education services company, in June 2014. Prior to accepting that appointment, she spent the bulk of her career heading up the marketing operations of the banking powerhouse JP Morgan Chase and its predecessors, and insurance icon MetLife. Beth Hirschhorn earned her MBA from New York University, and she now teaches services marketing at the Stern School on an adjunct basis; she also teaches at St. John’s University’s Tobin Business School.
Customer Relationship Management is a discipline within marketing that has developed in response to the growing importance of the customer experience. It refers to the totality of practices and strategies, including technology, that companies employ to manage and understand their interactions with customers, whether sales or service related. Not only does CRM govern routine transactions with customers, it analyzes the process carefully with the goal of improving the experience for the customer.
Much of CRM has been digitized. Routine tasks, such as the distribution of monthly statements to customers, are universally automated by banks, credit card companies, utility companies. What was once the purview of Operations in delivering statements and getting paid, delivery of regular communications is often marketing led with the goal of offering the customer additional products and services, making sure customers understand the benefits they are entitled to and ensuring that routine transactions are seemless. Marketing automation techniques allow a system to present marketing messages to prospective customers when they enter an enterprise’s online system. A simple online query about gas or electric rates, for instance, could generate a full-blown automated sales presentation.
Many organizations purchase comprehensive CRM software packages and believe that the system is the solution to forging closer bonds with their customers. To the contrary - a customer relationship strategy must come first, the organization must be aligned on that strategy: operations, sales, marketing and especially front-line personnel who play an important role in execution, and the software is merely an enabler. In today's multi-channel world, the integration of all of these functions with or without a formal CRM system is foundational.
The Corporate Board Initiative at Women’s Forum of New York
A marketing professional based in New York City, Beth Hirschhorn serves as the chief marketing officer and executive vice president of Kaplan, Inc. Beth Hirschhorn is also a member of Women’s Forum of New York, a nonprofit organization that provides a community for New York women leaders from many different fields.
Although women are important stakeholders at all levels of business, less than 20 percent of board seats in Fortune 500 companies are currently occupied by women. Given the ample number of qualified women, the Women’s Forum of New York uses its Corporate Board Initiative to bridge the gap between executive leadership positions and board seats.
The organization accomplishes its mission by sponsoring women leaders in a database, which nominating committees and search firms can use when assessing candidates. Using the Corporate Board Initiative Resource Center, women business leaders can build their board biographies and access the tools necessary to succeed in the boardroom.
To learn more about the Women’s Forum of New York, visit www.womensforumny.org.
The Importance of Forecasting and Analytics for CMOs
Experienced marketing executive Beth Hirschhorn is the chief marketing officer (CMO) and executive vice president of Kaplan, Inc. Also an adjunct professor, Beth Hirschhorn teaches courses on services marketing at New York University and St. John’s University.
In the business organization, a CMO is responsible for all aspects of the company’s marketing strategy, as well as forecasting and analytics. Forecasting refers to the preparation of short- and long-term assessments of future market conditions and the impact of those marketing conditions on the company's prospects. Using data collected via marketing research and analysis, companies can develop nuanced product marketing strategies based on prevalent market trends. In terms of analytics, an effective CMO must maintain a comprehensive database of market research, customers insights and accessible and protected customer and prospect data supplemented by external appends. A well-constructed database not only allows for the seamless transfer of information to marketing personnel in the future, but it also creates a high degree of continuity in business operations.