A CMO Confidential Interview with Bob Liodice, the long-time CEO of the Association of National Advertisers (ANA). In Part 2, Bob shares thoughts on where marketing dollars are really going, the ANA's investigations into media transparency and waste, why brands still aren't valued as financial assets on balance sheets, and the growing pressures facing modern advertising agencies.

Key topics include:

- The findings behind the ANA's programmatic media transparency and rebate investigations

- Why building the economic value of a brand matters more than chasing short-term volume

- Bob's simple budget rule: split spend 50/50 between performance and long-term brand building

- The evolving agency ecosystem, from principal-based media buying to widespread in-housing

Tune in to hear how Bob led 21 consecutive years of growth at the ANA, his push to replace the traditional "Four Ps" with eight modern practice areas, and his best advice on why "no one is in charge like yourself" when managing your career.

⏱️ Chapters

1:08 - Media Transparency and Digital Waste

8:28 - Importance of Brands and Long-Term Value

13:25 - Agency Landscape and Evolving Ecosystem

16:30 - ANA Reorganization and Core Marketing Practices

19:13 - Growing the ANA and Traits of Great Marketers

23:12 - Advice for Future CMOs and Career Ownership

This episode is sponsored by NOAN - the company that builds a fact layer for your brand, creating a single source of truth for your team, both human and agent. Learn more: getnoan.com/cmo.

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