Signal Over Noise: The Power of Authentic Brand Partnerships with Daymond John (FUBU) and Karen Spaeth (Starkey)

Jim Stengel (0:00)

Going back to your childhood, what's the first brand you both remember making an impact on you?

Karen Spaeth (0:04)

I have to imagine you get this often, Jim. I've listened to some of your episodes, Barbie. I mean, I love an iconic brand. I love a brand comeback.

I think that, you know, when I go back to being four, five, six, that's all I wanted. Barbie and New Kids on the Block.

Jim Stengel (0:21)

Daymond, how about yourself? First brand?

Daymond John (0:23)

Adidas.

You know, I grew up in Hollis, Queens, a home run DMC. By that day that they sent three school buses and picked us all up and took us to the garden. And the best time of my life, my Adidas.

Jim Stengel (0:38)

Hi, I'm Jim Stengel. I've helped hundreds of major brands discover and activate their purpose. Because when a brand's purpose is clear, compelling and authentic, profit naturally follows. Each week, I welcome the CMOs, the chief marketing officers of your favorite brands to speak to how their job is so much more than marketing. These leaders share their inspiration and challenges, along with how they try to build a full, healthy and happy life in and out of the office. And it's that energy that reaches everyone they touch. And we're glad you're here to feel that energy and to learn from these remarkable leaders. So here we go.

One of the things I've learned over the years is that the best brand partnerships aren't built on contracts. They're built on trust and belief in one another. My guests today embody that idea better than almost anyone I've met. Joining me are two people who are partnering in something they deeply believe in. First, we have Daymond John, founder and CEO of FUBU, founder of the Shark Group, and one of the original investors on ABC, Shark Tank. Joining Daymond is Karen Spaeth, Chief Marketing Officer of Starkey, one of the world's leading hearing technology companies. Karen has spent more than 16 years at Starkey, helping transform the company's global marketing while working to redefine hearing aids as advanced wearable technology. Starkey was founded in the 1960s and is still privately held. It is the only major hearing aid company that is American owned based outside Minneapolis, Minnesota. What started as a celebrity appearance by Daymond at a Starkey Foundation event has grown into something much more meaningful. After experiencing hearing loss himself, Daymond became a Starkey customer, advocate, and true believer. Today, he proudly wears custom bright red hearing aids to start conversations and help break the stigma surrounding hearing loss.

This is my conversation with two leaders who provide inspiration and a framework for outstanding brand partnerships and who together believe they can impact people's lives in a very meaningful way. Here's Daymond and Karen.

Karen, Daymond, welcome to The CMO Podcast. Now, we have a lot of marketing celebrities on this show and Karen, you're one of them. But Daymond, we don't often have larger cultural personalities and celebrities. So we're delighted for you to join us. It's great to meet you. So anyway, Daymond, thanks for joining us.

I was doing a lot of homework on you and it was really fun. You were a Red Lobster waiter. Do I have that right at one point?

Daymond John (3:04)

Yeah, I was at the waiter at a whole bunch of places, but Red Lobster was the longest one.

Jim Stengel (3:10)

Okay. And how about you, Karen? Any Red Lobster in your background?

Karen Spaeth (3:14)

I was a waitress at Baker Square. So same era timeframe, I think, but no Red Lobster.

Jim Stengel (3:21)

So I want to ask you both a question. What early job in your careers really stood out as sort of a milestone either on a positive or a negative way? I mean, was it Red Lobster for you, Daymond?

Daymond John (3:34)

Yeah. You know what? Actually, it was Red Lobster.

Jim Stengel (3:36)

Why?

Daymond John (3:36)

Because I learned so much from Red Lobster. I learned how to sell.

That's the job of a waiter. I learned, you know, I was probably the only waiter that would read the quarterly reports of Red Lobster with issue because I was so fascinated on how they were making money and how they were losing money. And yeah, I mean, that's that's it. It was my day job that helped me launch FUBU.

Jim Stengel (3:58)

Wow. That's great. Karen, how about yourself?

Karen Spaeth (4:00)

I worked in politics previous to marketing. So certainly lots of lessons learned there and how to communicate, how to message and how to position things. Again, and certainly waitressing as well, learning how to interact with people, how to engage with people. I admittedly didn't read the quarterly reports.