1 00:00:02,200 --> 00:00:06,800 Speaker 1: This is Masters in Business with Barry Ridholts on Bloomberg Radio. 2 00:00:07,560 --> 00:00:10,120 Speaker 1: This week on the podcast, I have a special guest. 3 00:00:10,400 --> 00:00:13,039 Speaker 1: His name is Pedro Earp and he is the chief 4 00:00:13,640 --> 00:00:18,960 Speaker 1: marketing officer at Beverage Giant a b in Bev. You 5 00:00:19,000 --> 00:00:22,320 Speaker 1: know all of their products from bud Wiser to Stellida. 6 00:00:22,560 --> 00:00:26,239 Speaker 1: They're just giant. They do billions and billions of dollars 7 00:00:26,239 --> 00:00:32,040 Speaker 1: in sales and Pedro has this just fascinating career and resume. 8 00:00:32,280 --> 00:00:35,599 Speaker 1: He's run their venture capital group. He was Director of 9 00:00:35,880 --> 00:00:39,640 Speaker 1: Disruptive Growth, that was actually his title. Now he runs 10 00:00:39,760 --> 00:00:43,479 Speaker 1: all of the advertisement and marketing for just an immense 11 00:00:43,560 --> 00:00:48,400 Speaker 1: consumer product group. It's really just an astonishing role. And 12 00:00:48,440 --> 00:00:52,240 Speaker 1: we talked about everything from how do you manage marketing 13 00:00:52,479 --> 00:00:56,520 Speaker 1: during a pandemic lockdown? What do you do when sports stops? 14 00:00:56,680 --> 00:00:58,240 Speaker 1: And what do you do when you have a product 15 00:00:58,720 --> 00:01:02,120 Speaker 1: whose name include it's the word corona. It's really quite 16 00:01:02,200 --> 00:01:04,760 Speaker 1: interesting and if you're at all a person who is 17 00:01:04,840 --> 00:01:08,760 Speaker 1: fascinated by branding, marketing, advertising, you will find this to 18 00:01:08,800 --> 00:01:12,640 Speaker 1: be just a fascinating conversation. With no further ado. My 19 00:01:12,840 --> 00:01:17,800 Speaker 1: conversation with A b InBev's chief marketing Officer, Pedro Earp. 20 00:01:20,240 --> 00:01:24,800 Speaker 1: This is Masters in Business with Barry Ridholts on Bloomberg Radio. 21 00:01:25,120 --> 00:01:29,039 Speaker 1: My special guest today is Pedro Earp. He is the 22 00:01:29,120 --> 00:01:32,679 Speaker 1: chief marketing officer at A b in Bev, one of 23 00:01:32,680 --> 00:01:35,880 Speaker 1: the world's largest brewery with a hundred and seventy thousand 24 00:01:36,000 --> 00:01:41,479 Speaker 1: employees in fifty countries, with two hundred and sixty breweries 25 00:01:41,920 --> 00:01:47,880 Speaker 1: and thirteen thousand owned retail locations. Previously, Pedro was the 26 00:01:47,920 --> 00:01:50,720 Speaker 1: former head of M and A and the former head 27 00:01:51,000 --> 00:01:55,320 Speaker 1: of their venture capital fund. A b in Bev has 28 00:01:55,320 --> 00:02:02,240 Speaker 1: such August brands as Budweiser, Corona Stella, dex Hoole, Garden, Modela. 29 00:02:02,360 --> 00:02:05,120 Speaker 1: The list goes on and on and on. Pedro Earp, 30 00:02:05,480 --> 00:02:11,560 Speaker 1: Welcome to Bloomberg. Hi Berry, thanks for having me. So 31 00:02:11,960 --> 00:02:16,920 Speaker 1: your resume is really quite confounding and fascinating. You were 32 00:02:17,080 --> 00:02:20,160 Speaker 1: you were head of M and A at a very 33 00:02:20,520 --> 00:02:24,600 Speaker 1: large company at a very young age. Tell us about that. 34 00:02:25,240 --> 00:02:28,520 Speaker 1: So I joined the company back at the Brazilian side 35 00:02:28,520 --> 00:02:31,400 Speaker 1: of the company. You know a BI it's a combination 36 00:02:31,560 --> 00:02:34,679 Speaker 1: of a Brazilian company of Belgium company and how's the 37 00:02:34,760 --> 00:02:38,320 Speaker 1: bush in the US model in Mexico. So it truly 38 00:02:38,360 --> 00:02:41,960 Speaker 1: became a you know, a globe organization. But I started 39 00:02:42,040 --> 00:02:45,760 Speaker 1: on the Brazilian side, you know, off the company in 40 00:02:45,840 --> 00:02:49,600 Speaker 1: the year of two thousand as a trainee. And then 41 00:02:49,840 --> 00:02:52,600 Speaker 1: as soon as I kind of finished my training program, 42 00:02:53,080 --> 00:02:55,840 Speaker 1: they invited me to join the you know, the marketing 43 00:02:56,240 --> 00:02:59,760 Speaker 1: them and a department. And at the time, the brewers 44 00:02:59,800 --> 00:03:01,959 Speaker 1: grow a lot, you know what's doing, was starting to 45 00:03:02,040 --> 00:03:05,120 Speaker 1: do some some international expansion. So I thought it was 46 00:03:05,440 --> 00:03:08,280 Speaker 1: a very good opportunity to to join them in the department. 47 00:03:08,800 --> 00:03:12,280 Speaker 1: And then two years later, you know, my my boss 48 00:03:12,360 --> 00:03:14,880 Speaker 1: ended up going to uh to an operation. We have 49 00:03:15,080 --> 00:03:19,320 Speaker 1: this about going to headquarters and and also going to operations, 50 00:03:19,400 --> 00:03:21,639 Speaker 1: and then I had the opportunity to have the division. 51 00:03:21,760 --> 00:03:24,480 Speaker 1: So in a very very exciting time because we're expanding 52 00:03:24,520 --> 00:03:26,839 Speaker 1: Latin Americas, a lot of things to do at the time. 53 00:03:27,240 --> 00:03:30,320 Speaker 1: So you've had a couple of really interesting titles. One 54 00:03:30,520 --> 00:03:34,960 Speaker 1: was chief disruptive Officer, another was head of the venture 55 00:03:35,000 --> 00:03:38,480 Speaker 1: capital unit. Tell us about some of these jobs. Why 56 00:03:38,520 --> 00:03:43,200 Speaker 1: would a giant beer brewery and distributor have a venture 57 00:03:43,280 --> 00:03:47,880 Speaker 1: capital unit. Yeah, so we you know, we started that 58 00:03:48,080 --> 00:03:53,000 Speaker 1: trying to accelerate our our innovation efforts. From two thousand six, 59 00:03:53,080 --> 00:03:56,640 Speaker 1: two thousand seven one. You know, until then, the company 60 00:03:56,720 --> 00:03:59,520 Speaker 1: relied a lot in in inorganic growth and en mn 61 00:03:59,600 --> 00:04:02,760 Speaker 1: a uh and and then at some point in time, 62 00:04:02,800 --> 00:04:05,520 Speaker 1: you know, we we became a very big organization, so 63 00:04:05,840 --> 00:04:09,560 Speaker 1: and then they started being less lesser creative, and we 64 00:04:09,800 --> 00:04:12,720 Speaker 1: really turned our focus into again and growth and innovation 65 00:04:12,840 --> 00:04:15,440 Speaker 1: being a big part of it. But we, you know, 66 00:04:15,560 --> 00:04:18,440 Speaker 1: we we didn't go as fast as we wish we 67 00:04:18,920 --> 00:04:21,360 Speaker 1: we could go. You know, sometimes when we have a 68 00:04:21,440 --> 00:04:25,040 Speaker 1: big organization, and especially an organization that is growing a lot, 69 00:04:25,120 --> 00:04:28,600 Speaker 1: it's score business, it's very hard, you know to divert 70 00:04:29,400 --> 00:04:32,120 Speaker 1: some of the focus on some of the of the 71 00:04:32,320 --> 00:04:34,760 Speaker 1: people and some of the money, you know, to really 72 00:04:34,839 --> 00:04:39,200 Speaker 1: focus on innovation. So, you know, our CEO and the 73 00:04:39,320 --> 00:04:43,080 Speaker 1: board in thousand and fifteen, they decided to create you know, 74 00:04:43,120 --> 00:04:47,880 Speaker 1: a separate unit to be fully focused on on innovation 75 00:04:48,000 --> 00:04:51,200 Speaker 1: and the future. So this is kind of when when 76 00:04:51,360 --> 00:04:55,160 Speaker 1: we started the z Expangers a group which is the 77 00:04:55,240 --> 00:04:58,480 Speaker 1: kind of the innovation armongst ab I. And then when 78 00:04:58,520 --> 00:05:01,159 Speaker 1: I was talking to you know, to Carlos Brittle, which 79 00:05:01,200 --> 00:05:04,960 Speaker 1: is our our CEO, about the organization, he said, look, 80 00:05:05,000 --> 00:05:08,000 Speaker 1: there's only one thing that that I would like to ask, 81 00:05:08,080 --> 00:05:10,080 Speaker 1: you know, you to find the mandate and the areas 82 00:05:10,120 --> 00:05:12,840 Speaker 1: that again is going to explore. But you know, I 83 00:05:13,000 --> 00:05:15,840 Speaker 1: really like your title to be, you know, what the 84 00:05:15,920 --> 00:05:20,960 Speaker 1: group to be called disruptive Growth group. And then I said, look, 85 00:05:21,040 --> 00:05:23,200 Speaker 1: I know if you put it disruptive growth, I mean 86 00:05:23,520 --> 00:05:25,600 Speaker 1: actually at the beginning he didn't even say growth, it's 87 00:05:25,640 --> 00:05:28,520 Speaker 1: a disruptive group. And I said, people are just gonna 88 00:05:28,560 --> 00:05:30,920 Speaker 1: think we're gonna get in rooms, you know, keep the chairs, 89 00:05:31,040 --> 00:05:34,880 Speaker 1: you know, and and say some silly stuff. And so 90 00:05:35,040 --> 00:05:38,120 Speaker 1: I convinced him on disruptive growth. But in a way, 91 00:05:38,480 --> 00:05:40,400 Speaker 1: you know, he kind of asked me to to have 92 00:05:40,560 --> 00:05:42,680 Speaker 1: that title to the group because he wanted to make 93 00:05:42,760 --> 00:05:47,120 Speaker 1: sure that the message to the organizations that this group 94 00:05:47,200 --> 00:05:51,040 Speaker 1: would be disruptive even within right, We'll try to do 95 00:05:51,200 --> 00:05:53,240 Speaker 1: something that maybe it was not the best thing for 96 00:05:53,320 --> 00:05:56,200 Speaker 1: a core business, could cannibalize our core business too, could 97 00:05:56,240 --> 00:05:59,840 Speaker 1: create some you know, crazy disruption from with them. And 98 00:06:00,080 --> 00:06:02,839 Speaker 1: that's why I had this kind of funny, funny title. 99 00:06:03,960 --> 00:06:07,560 Speaker 1: We're gonna talk more about the VC Fund a little later. 100 00:06:07,680 --> 00:06:10,719 Speaker 1: It's now over a billion dollars, but let's talk about 101 00:06:10,800 --> 00:06:15,360 Speaker 1: the elephant in the room. Obviously, everything has changed with 102 00:06:15,760 --> 00:06:20,480 Speaker 1: coronavirus and the lockdown and the pandemic. I know, I'm 103 00:06:20,600 --> 00:06:24,440 Speaker 1: drinking a lot more than I was pre lockdown. How 104 00:06:24,600 --> 00:06:29,080 Speaker 1: has COVID nineteen impacted your business? What is this done 105 00:06:29,360 --> 00:06:36,000 Speaker 1: both for and restraining sales? Yeah, you know, it varies 106 00:06:36,040 --> 00:06:38,520 Speaker 1: a little bit depending on the you know, the country 107 00:06:38,880 --> 00:06:41,120 Speaker 1: that that you were in. In general, I know it 108 00:06:41,200 --> 00:06:43,240 Speaker 1: has been it has been tough for the business. So 109 00:06:43,320 --> 00:06:46,720 Speaker 1: we had a tough you know, second quarter off the year. 110 00:06:47,160 --> 00:06:50,559 Speaker 1: We have a lot of exposure to emerging markets where 111 00:06:50,920 --> 00:06:54,360 Speaker 1: the own trade you know, bars and restaurants are significant 112 00:06:54,400 --> 00:06:57,280 Speaker 1: part of the business and because of lockdown, of course 113 00:06:57,480 --> 00:07:00,160 Speaker 1: this this piece of the business was truly shut out. 114 00:07:00,760 --> 00:07:04,120 Speaker 1: So it's been tough for business. Right The business wasn't 115 00:07:04,120 --> 00:07:08,200 Speaker 1: oppression of the second quarter. We have seen improvement since then. 116 00:07:08,800 --> 00:07:10,840 Speaker 1: When just think it is good news and always see 117 00:07:10,840 --> 00:07:13,600 Speaker 1: a lot of markets reopening, but you know, I think 118 00:07:13,600 --> 00:07:16,240 Speaker 1: it was it was. It was a very tough but 119 00:07:17,000 --> 00:07:19,680 Speaker 1: great learning experience for us. You know, we had to 120 00:07:19,800 --> 00:07:23,440 Speaker 1: really focus on people and focus on our on our 121 00:07:23,560 --> 00:07:26,400 Speaker 1: consumer and I think we were going to come out 122 00:07:26,440 --> 00:07:29,520 Speaker 1: of this crisis, you know, much stronger than than then 123 00:07:29,600 --> 00:07:33,880 Speaker 1: we got in so so your title is chief marketing officer. 124 00:07:34,640 --> 00:07:39,840 Speaker 1: How quickly can you change your marketing strategy or even 125 00:07:40,000 --> 00:07:43,960 Speaker 1: your advertising in the midst of a lockdown? I know 126 00:07:44,080 --> 00:07:47,680 Speaker 1: a lot of this stuff is done quarters in advance. 127 00:07:48,160 --> 00:07:53,040 Speaker 1: How quick can you pivot once the lockdown starts? Yeah, 128 00:07:53,160 --> 00:07:56,080 Speaker 1: I mean in our case was was really fast for 129 00:07:56,880 --> 00:07:59,840 Speaker 1: two reasons. You know. The first one is that we 130 00:08:00,080 --> 00:08:03,520 Speaker 1: have big operations in in China. You know, we have 131 00:08:04,920 --> 00:08:08,520 Speaker 1: market share in China and and roughly six of the 132 00:08:08,600 --> 00:08:13,360 Speaker 1: total premium via marketing in China. And we saw when 133 00:08:13,440 --> 00:08:16,720 Speaker 1: he got started in China, so we had a verierly one. 134 00:08:16,840 --> 00:08:19,480 Speaker 1: We had an indication of how we could look like 135 00:08:19,640 --> 00:08:22,760 Speaker 1: in other in other places, and the seriousness of the 136 00:08:23,760 --> 00:08:26,000 Speaker 1: of the crisis. You know, as soon as we saw 137 00:08:26,160 --> 00:08:29,280 Speaker 1: things started in China two weeks later, we set up 138 00:08:29,320 --> 00:08:32,800 Speaker 1: a global task force which allow us to react and 139 00:08:32,920 --> 00:08:37,240 Speaker 1: puch faster. And and the second thing is that really 140 00:08:37,960 --> 00:08:40,160 Speaker 1: I think the you know, the culture of organize the 141 00:08:40,400 --> 00:08:44,160 Speaker 1: organization is a culture of of ownership. You know, our 142 00:08:44,240 --> 00:08:47,839 Speaker 1: employees really they behave like corners and they fight for 143 00:08:47,920 --> 00:08:50,760 Speaker 1: the business like if it was their own business. So 144 00:08:51,000 --> 00:08:53,559 Speaker 1: it was you know, during the during the crisis were 145 00:08:53,720 --> 00:08:57,319 Speaker 1: all hands on back, you know, everybody working seven to 146 00:08:57,360 --> 00:09:00,960 Speaker 1: adjust the plans, change the plants, you know, scrap campaigns, 147 00:09:01,200 --> 00:09:04,280 Speaker 1: you know, even I mean we uh you know internationally 148 00:09:04,400 --> 00:09:06,839 Speaker 1: and globally we owned the Corona brand, right, so for 149 00:09:07,080 --> 00:09:10,040 Speaker 1: especially for Corona, we had to make to make a 150 00:09:10,120 --> 00:09:12,480 Speaker 1: lot of changes. So you know, it was it was 151 00:09:12,559 --> 00:09:15,839 Speaker 1: tough times, but again I think was an opportunity for 152 00:09:15,960 --> 00:09:19,640 Speaker 1: growth and the company is coming out are stronger. So 153 00:09:20,120 --> 00:09:25,280 Speaker 1: you mentioned Corona earlier, the Corona the beer. How do 154 00:09:25,400 --> 00:09:29,559 Speaker 1: you have to pivot in the face of a pandemic 155 00:09:29,800 --> 00:09:33,360 Speaker 1: that has the phrase Corona in the first half of it? 156 00:09:33,559 --> 00:09:35,719 Speaker 1: What what sort of adjustments do you have to make? 157 00:09:36,240 --> 00:09:38,600 Speaker 1: And is that the same in it in every country? 158 00:09:38,800 --> 00:09:43,079 Speaker 1: How do the translations effect If people are superstitious about 159 00:09:43,120 --> 00:09:47,360 Speaker 1: the beer, what what do you do in response to that? Yeah, 160 00:09:47,480 --> 00:09:49,160 Speaker 1: so the I mean the first thing of course that 161 00:09:49,240 --> 00:09:51,360 Speaker 1: we paid a lot of attention, right is through social 162 00:09:51,440 --> 00:09:53,960 Speaker 1: listening what people are talking about and if you're making 163 00:09:54,000 --> 00:09:57,280 Speaker 1: associations or not with you know, with the beer, and 164 00:09:57,440 --> 00:10:00,079 Speaker 1: mainly you know, there was little noise of association with 165 00:10:00,200 --> 00:10:04,679 Speaker 1: the beer and the associations who are mainly people you 166 00:10:04,760 --> 00:10:07,240 Speaker 1: know making fun of you know, things related to the 167 00:10:07,320 --> 00:10:09,520 Speaker 1: beer and things like that, so we really didn't have 168 00:10:10,040 --> 00:10:13,000 Speaker 1: you know, quite an impact. What we thought, given the times, 169 00:10:13,600 --> 00:10:15,560 Speaker 1: you know, that we should be silent for a little 170 00:10:15,600 --> 00:10:17,520 Speaker 1: while with the with the beer brand, not not to 171 00:10:17,840 --> 00:10:21,400 Speaker 1: create even more confusion. So we uh, you know, we 172 00:10:21,480 --> 00:10:23,640 Speaker 1: decided to be out for a little bit. We're coming 173 00:10:23,679 --> 00:10:25,880 Speaker 1: back now, you know, with the court on a brand 174 00:10:26,160 --> 00:10:29,560 Speaker 1: all over the world communication, but on all the other brands, 175 00:10:29,679 --> 00:10:32,720 Speaker 1: we adapted, and I think the treat here was too 176 00:10:33,760 --> 00:10:36,920 Speaker 1: to stop thinking a little bit about selling beer because 177 00:10:37,000 --> 00:10:40,839 Speaker 1: that was out of the forefront of people's priorities, and 178 00:10:41,240 --> 00:10:45,160 Speaker 1: see how consumers were changing, what were their immediate needs, 179 00:10:46,000 --> 00:10:49,280 Speaker 1: and then what our brands had a role, you know, 180 00:10:49,400 --> 00:10:53,000 Speaker 1: and how they could help, you know, people during the 181 00:10:53,440 --> 00:10:56,600 Speaker 1: during the pandemics. So just to do nation to use 182 00:10:56,720 --> 00:10:59,840 Speaker 1: some examples, you know, Nicola bol Train that you asked 183 00:10:59,840 --> 00:11:03,520 Speaker 1: is our balanced lifestyle brand. Ready has like two grounds 184 00:11:03,559 --> 00:11:05,480 Speaker 1: of carbs and it's for people that I have an 185 00:11:05,480 --> 00:11:09,400 Speaker 1: active lifestyle and we at the very start of the 186 00:11:09,880 --> 00:11:12,360 Speaker 1: of the crisis, a lot of people starting to exercise 187 00:11:12,400 --> 00:11:16,200 Speaker 1: at home. So we created the Nikola Boltra movement, which 188 00:11:16,280 --> 00:11:19,439 Speaker 1: every single week we had kind of homework out fashions 189 00:11:19,679 --> 00:11:21,760 Speaker 1: that ended up with a headcur and n e J 190 00:11:21,960 --> 00:11:25,199 Speaker 1: like Sibo Ioki for example, that we had and it 191 00:11:25,320 --> 00:11:28,240 Speaker 1: was always a great success, and or Nikola Bolt. During 192 00:11:28,280 --> 00:11:32,160 Speaker 1: the time, I had more engagement and views than than sports, 193 00:11:32,760 --> 00:11:36,280 Speaker 1: you know, brands and and and treatness appeals and things 194 00:11:36,320 --> 00:11:38,640 Speaker 1: like that. So you know, that's kind of one example. 195 00:11:39,200 --> 00:11:43,920 Speaker 1: Another example, it's in Brazil. We had a huge relationship 196 00:11:44,040 --> 00:11:47,480 Speaker 1: with country music singers and and of course because of 197 00:11:47,559 --> 00:11:51,240 Speaker 1: the crisis, a lot of shows are canceled. You know, 198 00:11:51,360 --> 00:11:53,679 Speaker 1: we use the fact that we had already this relationships 199 00:11:53,760 --> 00:11:56,640 Speaker 1: and we had sponsorships and things like that, and we 200 00:11:56,800 --> 00:12:02,040 Speaker 1: decided to do live streams and stead of having live concerts, 201 00:12:02,800 --> 00:12:05,599 Speaker 1: and it was a massive, massive success. You know. So 202 00:12:05,800 --> 00:12:09,240 Speaker 1: today the day out of the top ten most watch 203 00:12:09,559 --> 00:12:12,360 Speaker 1: videos on on YouTube of all times, five of them 204 00:12:12,640 --> 00:12:15,880 Speaker 1: for some of the our live streams, you know, in Brazil, 205 00:12:15,960 --> 00:12:18,439 Speaker 1: we had more than to an app didn't views you know, 206 00:12:18,480 --> 00:12:20,959 Speaker 1: on the live streams. Again, people were at home, blocked in, 207 00:12:21,080 --> 00:12:23,959 Speaker 1: they were bored, but they still wanted to kind of 208 00:12:24,040 --> 00:12:26,760 Speaker 1: enjoy themselves. So I mean it was a period of 209 00:12:26,920 --> 00:12:32,400 Speaker 1: really trying to understand how consumers are changing, trying to 210 00:12:32,559 --> 00:12:36,200 Speaker 1: live aside a little bit, you know, the the attempt 211 00:12:36,360 --> 00:12:39,160 Speaker 1: to sell beer and too, you know, to grow the 212 00:12:39,240 --> 00:12:41,839 Speaker 1: business in the short run, and it was more about 213 00:12:41,960 --> 00:12:46,320 Speaker 1: understanding how what people needed and how our brands could 214 00:12:46,440 --> 00:12:49,400 Speaker 1: create a meaningful relationship with them by providing what they 215 00:12:49,440 --> 00:12:54,760 Speaker 1: needed the most. So historically sports has just been huge 216 00:12:54,920 --> 00:12:59,760 Speaker 1: for marketing all sorts of things, certainly beer. You guys 217 00:12:59,840 --> 00:13:02,880 Speaker 1: were the lead sponsor of the World Cup. How do 218 00:13:02,960 --> 00:13:07,719 Speaker 1: you adjust when so many sporting events are canceled in 219 00:13:07,880 --> 00:13:10,480 Speaker 1: March April May, and then what do you do now 220 00:13:10,720 --> 00:13:15,440 Speaker 1: suddenly between the NBA and the start of the NFL 221 00:13:15,840 --> 00:13:18,640 Speaker 1: and the end of the baseball season and we just 222 00:13:19,160 --> 00:13:22,040 Speaker 1: finished the U S Open, how do you adjust to 223 00:13:22,160 --> 00:13:26,040 Speaker 1: this sudden onslaught of of games played in these you 224 00:13:26,120 --> 00:13:31,720 Speaker 1: know COVID bubbles. Yeah, it's uh, you know, the need 225 00:13:31,840 --> 00:13:35,280 Speaker 1: for enjoyment and the passion for sports us still there, 226 00:13:35,800 --> 00:13:39,600 Speaker 1: but again people are having to enjoy it in different ways. 227 00:13:39,679 --> 00:13:43,280 Speaker 1: So again we didn't obsess about understanding, you know, how 228 00:13:43,440 --> 00:13:45,760 Speaker 1: people are still trying to enjoy sports and see how 229 00:13:45,840 --> 00:13:48,200 Speaker 1: we can help them. So to to mention a couple 230 00:13:48,200 --> 00:13:51,400 Speaker 1: of examples, in some of all markets, we saw that 231 00:13:51,480 --> 00:13:54,280 Speaker 1: people are because they were not going to the status anymore, 232 00:13:55,080 --> 00:13:57,720 Speaker 1: you know, the pregame. People had more time to enjoy 233 00:13:58,240 --> 00:14:00,599 Speaker 1: you know, the pregame. So for ex with some of 234 00:14:00,679 --> 00:14:02,679 Speaker 1: our teams, you know that we're sponsored in a lot 235 00:14:02,720 --> 00:14:06,559 Speaker 1: of countries, we start doing live stream off of the 236 00:14:06,679 --> 00:14:09,439 Speaker 1: pre games in a lot of countries, you know, and 237 00:14:09,559 --> 00:14:11,199 Speaker 1: we had a lot of people they used to go 238 00:14:11,280 --> 00:14:14,160 Speaker 1: to the stadium, so they wouldn't watched, you know, any 239 00:14:14,360 --> 00:14:17,240 Speaker 1: any of the pre games. They started tuning in and 240 00:14:17,360 --> 00:14:20,960 Speaker 1: we had massive audiences you know, joining the live stream 241 00:14:21,040 --> 00:14:23,640 Speaker 1: like one hour before the match, were half an hour 242 00:14:23,720 --> 00:14:26,800 Speaker 1: before the match, something that didn't kind of an occasion 243 00:14:26,840 --> 00:14:29,960 Speaker 1: that didn't exist before, right, So that there was kind 244 00:14:29,960 --> 00:14:34,000 Speaker 1: of one one example. Another example, you know, you mentioned 245 00:14:34,080 --> 00:14:37,080 Speaker 1: the NBA and what we what we try to do. 246 00:14:37,320 --> 00:14:40,640 Speaker 1: We teamed up with with Microsoft, you know in the US, 247 00:14:41,560 --> 00:14:45,520 Speaker 1: and we are basically providing people the opportunity to watch 248 00:14:46,360 --> 00:14:48,960 Speaker 1: the NBA games. Right. We have we have a stand 249 00:14:49,600 --> 00:14:52,400 Speaker 1: you know in the stadiums you know, Microsoft and ourselves, 250 00:14:52,960 --> 00:14:55,920 Speaker 1: and we have expectators there and they are basically in 251 00:14:56,040 --> 00:14:59,480 Speaker 1: a you know, in a virtual environment where they can 252 00:14:59,720 --> 00:15:03,760 Speaker 1: not only watched the game from different angles, you know, 253 00:15:03,960 --> 00:15:07,200 Speaker 1: as if they were watching it live, but they can 254 00:15:07,280 --> 00:15:10,360 Speaker 1: also interact with other people that are on the understand 255 00:15:10,560 --> 00:15:13,480 Speaker 1: and people that are watching the game on TV. They 256 00:15:13,520 --> 00:15:16,600 Speaker 1: can see the people understand So again, there's kind of 257 00:15:16,720 --> 00:15:19,920 Speaker 1: a new way for you to watch sports and and 258 00:15:20,160 --> 00:15:22,400 Speaker 1: and that's what we we've been trying to do, you know, 259 00:15:22,520 --> 00:15:27,200 Speaker 1: to understand that the passion is there, understanding that, you know, 260 00:15:27,320 --> 00:15:30,680 Speaker 1: the behaviors might change, but then how can we adapt 261 00:15:30,760 --> 00:15:34,320 Speaker 1: to this behavioral change. Yeah, the the NBA seems to 262 00:15:34,400 --> 00:15:39,400 Speaker 1: have done a better job having live appearing fans through 263 00:15:39,440 --> 00:15:44,160 Speaker 1: those screens on the sides of the basketball court as 264 00:15:44,200 --> 00:15:48,240 Speaker 1: opposed to just putting cutouts and and some other attempts 265 00:15:48,280 --> 00:15:52,000 Speaker 1: have not been as creative. I've been watching the NBA 266 00:15:52,120 --> 00:15:57,480 Speaker 1: playoffs and it almost feels like they're real fans in 267 00:15:57,560 --> 00:16:03,000 Speaker 1: the seats. Yeah. Again, you know, I think the physical interaction, 268 00:16:03,080 --> 00:16:06,240 Speaker 1: you know, in the proximity off people, it's something that 269 00:16:07,080 --> 00:16:11,680 Speaker 1: that of course everybody misses, right, And and that's something 270 00:16:11,760 --> 00:16:14,760 Speaker 1: that technology is trying to to address, and I think 271 00:16:14,800 --> 00:16:17,520 Speaker 1: it's getting better and better. So you know, we see 272 00:16:17,560 --> 00:16:20,800 Speaker 1: that the quality of the of the interactions there you're 273 00:16:20,840 --> 00:16:23,880 Speaker 1: having to zoom or through you know, Microsoft teams and 274 00:16:24,600 --> 00:16:27,040 Speaker 1: and other things. That's getting better. But again I'm sure 275 00:16:27,160 --> 00:16:30,480 Speaker 1: people you know, and time allows, and hopefully we're going 276 00:16:30,520 --> 00:16:32,960 Speaker 1: to have more effective treatment and vaccines very soon. I'm 277 00:16:33,000 --> 00:16:35,680 Speaker 1: sure people are going to be very eager to physically, 278 00:16:36,480 --> 00:16:40,920 Speaker 1: you know, attend go to stadiums again. So I'm curious, 279 00:16:41,000 --> 00:16:44,320 Speaker 1: how does a partnership like that come about. Do you 280 00:16:44,400 --> 00:16:47,600 Speaker 1: pick up the phone and call the head of marketing 281 00:16:47,680 --> 00:16:51,040 Speaker 1: and Microsoft and say, hey, I have a great idea 282 00:16:51,200 --> 00:16:54,880 Speaker 1: how we can do something innovative at a at a 283 00:16:54,960 --> 00:16:58,920 Speaker 1: basketball game. How how does a joint project like that 284 00:16:59,560 --> 00:17:04,119 Speaker 1: actually happen? Yeah, you know, it starts with their relationships, 285 00:17:04,200 --> 00:17:08,600 Speaker 1: not only the relationships with the teams, but also the 286 00:17:08,680 --> 00:17:12,200 Speaker 1: relationship with other sponsors. Right in a way, in a way, 287 00:17:12,280 --> 00:17:14,720 Speaker 1: we are all we're all on the same boat, you know, 288 00:17:14,840 --> 00:17:18,120 Speaker 1: the leagues, the teams, the sponsors and everybody. And during 289 00:17:18,200 --> 00:17:22,040 Speaker 1: this time, you know, the collaboration increased dramatically. You know, 290 00:17:22,240 --> 00:17:24,600 Speaker 1: You're were in touch again all over the world in 291 00:17:24,760 --> 00:17:27,320 Speaker 1: all types of sports, you know, not only with the 292 00:17:27,400 --> 00:17:29,560 Speaker 1: teams in the leagues, but also other sponsors. See what 293 00:17:29,600 --> 00:17:32,240 Speaker 1: are the things that we can you know, do together 294 00:17:32,840 --> 00:17:35,680 Speaker 1: in order to to make sure that we continue to 295 00:17:36,119 --> 00:17:38,879 Speaker 1: provide our customers with the experience they had before. And 296 00:17:38,960 --> 00:17:42,080 Speaker 1: also from this collaboration. A lot of you know, things 297 00:17:42,160 --> 00:17:46,600 Speaker 1: like that have happened during COVID, you know, and and 298 00:17:46,880 --> 00:17:48,840 Speaker 1: it's the the usual thing you know that I think 299 00:17:49,280 --> 00:17:52,520 Speaker 1: crimes like this, you know, bring people together to try 300 00:17:52,520 --> 00:17:54,080 Speaker 1: to figure out what to do, you know, and that 301 00:17:54,359 --> 00:17:57,240 Speaker 1: that's how these things came about. So Pedro, let's stay 302 00:17:57,320 --> 00:18:00,920 Speaker 1: with the world of sports. You guys have been giant 303 00:18:01,280 --> 00:18:05,320 Speaker 1: advertisers on events like the Super Bowl. How do you 304 00:18:05,520 --> 00:18:09,439 Speaker 1: quantify your return on that sort of investment? What are 305 00:18:09,480 --> 00:18:11,879 Speaker 1: you looking at? How do you measure if something is 306 00:18:11,920 --> 00:18:15,200 Speaker 1: a success or not? Tell us about the thought process there. 307 00:18:16,200 --> 00:18:18,800 Speaker 1: Over the years, I think we've been getting better and 308 00:18:18,920 --> 00:18:21,840 Speaker 1: better and measuring, you know, kind of the returns of 309 00:18:22,320 --> 00:18:25,920 Speaker 1: marketing activities. You know, we have we have an analytics 310 00:18:25,960 --> 00:18:28,560 Speaker 1: center in India, you know that kind of collects everything 311 00:18:28,640 --> 00:18:30,840 Speaker 1: that we do and then the consumer response and trying 312 00:18:30,880 --> 00:18:33,960 Speaker 1: to qualify are the returns that we have. But some 313 00:18:34,160 --> 00:18:36,360 Speaker 1: of these things and all there you have to take 314 00:18:36,400 --> 00:18:40,720 Speaker 1: the bet. You know. Again, super Bowl is it's like 315 00:18:41,000 --> 00:18:43,760 Speaker 1: probably the biggest sporting event, you know, in the world. 316 00:18:44,200 --> 00:18:47,119 Speaker 1: You know, every single year, the number of vie balls 317 00:18:47,200 --> 00:18:49,600 Speaker 1: that you have in there, and and that's one of 318 00:18:49,680 --> 00:18:52,879 Speaker 1: the few you know events that that we have on 319 00:18:53,000 --> 00:18:57,040 Speaker 1: TV that people actually stopped to watch, you know, the commercials. 320 00:18:57,480 --> 00:18:59,560 Speaker 1: So of course, I mean we're always trying to measure 321 00:18:59,640 --> 00:19:02,320 Speaker 1: the learning things like that. But in a way, you know, 322 00:19:02,440 --> 00:19:06,080 Speaker 1: there's a lot of you know belief h that something 323 00:19:06,160 --> 00:19:08,760 Speaker 1: like that has a very high engagement with people, and 324 00:19:09,400 --> 00:19:12,800 Speaker 1: and and the reach that you get it it's a uh, 325 00:19:13,040 --> 00:19:15,680 Speaker 1: you know, it's very hard to get to get somewhere else. 326 00:19:16,520 --> 00:19:19,520 Speaker 1: What we've been doing, you know, for the past years 327 00:19:19,600 --> 00:19:23,160 Speaker 1: has been to be a little bit more intentional about 328 00:19:23,520 --> 00:19:26,280 Speaker 1: about what kind of brands we advertise, you know on 329 00:19:26,400 --> 00:19:29,679 Speaker 1: Super Bowl. So in the past, we'll just advertising all 330 00:19:29,720 --> 00:19:32,080 Speaker 1: kind of the biggest brands that we had, and again, 331 00:19:32,240 --> 00:19:34,280 Speaker 1: these brands are the ones that probably have the most 332 00:19:34,400 --> 00:19:37,520 Speaker 1: known brands, so I'm not sure the eyeballs, you know, 333 00:19:37,640 --> 00:19:40,920 Speaker 1: it's really what the brand needs. So we started to 334 00:19:41,000 --> 00:19:44,600 Speaker 1: for example, using more you know, premium brands like stell 335 00:19:44,680 --> 00:19:47,360 Speaker 1: Us to our on Super Bowl. We started using more 336 00:19:47,960 --> 00:19:50,800 Speaker 1: you know innovation like bloodlight celts or you know for 337 00:19:50,880 --> 00:19:52,439 Speaker 1: Super Bowl. So we tried to be a bit more 338 00:19:52,480 --> 00:19:56,680 Speaker 1: intentional on on how we how we go about it. 339 00:19:56,800 --> 00:19:58,760 Speaker 1: But you know that I think there's a fundamental game 340 00:19:58,920 --> 00:20:01,160 Speaker 1: that an event like that, with the level of engagement, 341 00:20:01,240 --> 00:20:04,119 Speaker 1: the number of people, it's something that you know, we 342 00:20:04,480 --> 00:20:07,679 Speaker 1: we should be doing. I have to ask what seems 343 00:20:07,720 --> 00:20:10,040 Speaker 1: like a little bit of a wacky question, which is 344 00:20:11,000 --> 00:20:14,159 Speaker 1: why on earth does a beer giant have a venture 345 00:20:14,240 --> 00:20:17,520 Speaker 1: capital funds? What does a b in BEV get out 346 00:20:17,560 --> 00:20:21,600 Speaker 1: of this? Yeah, that's a that's a good question there. 347 00:20:21,840 --> 00:20:24,440 Speaker 1: You know what when when we started our adventure capital funding, 348 00:20:24,560 --> 00:20:28,920 Speaker 1: Mad you know, an entrepreneur that he had basically a 349 00:20:29,480 --> 00:20:33,600 Speaker 1: homebrewing business, but he was you know, a marine before 350 00:20:33,640 --> 00:20:36,920 Speaker 1: and he he used to work on intelligence and he 351 00:20:37,080 --> 00:20:39,040 Speaker 1: was explaining to me that one of the things one 352 00:20:39,080 --> 00:20:42,480 Speaker 1: of the challenges they face for you know, big carriers, 353 00:20:43,400 --> 00:20:46,480 Speaker 1: it's you know, the big career they were trying to 354 00:20:46,840 --> 00:20:50,560 Speaker 1: assimulate will be the best way to think, you know, 355 00:20:50,680 --> 00:20:53,320 Speaker 1: a carrier some sort of you know enemy was trying 356 00:20:53,400 --> 00:20:56,800 Speaker 1: to do it. And at the end, you know, the 357 00:20:56,920 --> 00:21:00,040 Speaker 1: carrier is kind of prepare, you know, to to I 358 00:21:00,040 --> 00:21:03,040 Speaker 1: had another carrier, or to fight airplanes or to fight 359 00:21:03,840 --> 00:21:07,399 Speaker 1: you know, len to see missilesand things like that, and 360 00:21:07,560 --> 00:21:09,880 Speaker 1: they him to the conclusion that probably the most effective 361 00:21:09,960 --> 00:21:13,600 Speaker 1: way of dominating and destroying a carrier would be to 362 00:21:13,720 --> 00:21:17,560 Speaker 1: have you know, hundreds of pirate speed boats attacking the 363 00:21:17,680 --> 00:21:20,440 Speaker 1: carry at the same time, because the carrier didn't have 364 00:21:20,640 --> 00:21:23,720 Speaker 1: kind of defenses for that. And he was saying, that's 365 00:21:23,800 --> 00:21:27,520 Speaker 1: kind of, you know, a good analogy towards startups are 366 00:21:27,640 --> 00:21:30,440 Speaker 1: kind of doing two big CPGs, you know, the big CPGs. 367 00:21:30,480 --> 00:21:34,080 Speaker 1: They are usually set up for scale and to kind 368 00:21:34,119 --> 00:21:37,760 Speaker 1: of you know, compete in big markets with other big CPGs. 369 00:21:38,560 --> 00:21:41,119 Speaker 1: And now you have all these speed boats, very nimble, 370 00:21:41,359 --> 00:21:44,480 Speaker 1: very fast, you know, focus on on attacking niche markets, 371 00:21:45,119 --> 00:21:46,639 Speaker 1: and they are kind of you know a little by 372 00:21:46,680 --> 00:21:50,200 Speaker 1: little dominated big space, you know, dominated by by the 373 00:21:50,240 --> 00:21:53,920 Speaker 1: big cpigs. As the pass and the way you know, 374 00:21:54,240 --> 00:21:59,000 Speaker 1: the intelligence figured out on how to re prevent, you know, 375 00:21:59,119 --> 00:22:01,760 Speaker 1: an attack like at is actually to also have speed 376 00:22:01,800 --> 00:22:04,399 Speaker 1: boats in the big carrier, you know, and deploy speed 377 00:22:04,440 --> 00:22:06,720 Speaker 1: boats as they were being attacked. That then you could 378 00:22:06,760 --> 00:22:09,159 Speaker 1: count on the backup and all the intelligence that it 379 00:22:09,200 --> 00:22:11,440 Speaker 1: would have from the big carrier. But then you kind 380 00:22:11,440 --> 00:22:14,200 Speaker 1: of you know, have a more a more even fight 381 00:22:14,520 --> 00:22:16,880 Speaker 1: and that's a little bit more what we are kind 382 00:22:16,880 --> 00:22:19,160 Speaker 1: of we're trying to do. You know, I think if 383 00:22:19,200 --> 00:22:23,080 Speaker 1: our company really believes that with the big number but 384 00:22:23,240 --> 00:22:26,200 Speaker 1: limited number of brew masses that we have every queen 385 00:22:26,320 --> 00:22:30,080 Speaker 1: create you know, more beers and and better beer than 386 00:22:30,200 --> 00:22:33,920 Speaker 1: the thousands and thousands and thousands of craft brewers and 387 00:22:34,040 --> 00:22:36,840 Speaker 1: blo masses that are all over the world today, I 388 00:22:36,920 --> 00:22:39,480 Speaker 1: think they will be naive, you know. So what we 389 00:22:39,560 --> 00:22:42,480 Speaker 1: are trying to do is basically to join forces. You know, 390 00:22:42,640 --> 00:22:44,640 Speaker 1: there are a lot of people there that are passionate 391 00:22:44,720 --> 00:22:48,840 Speaker 1: about beers and about beverages or about technologies to help 392 00:22:49,160 --> 00:22:52,640 Speaker 1: beverages and beer, and then you know, what we're trying 393 00:22:52,680 --> 00:22:55,200 Speaker 1: to do is to provide a platform that they could 394 00:22:55,240 --> 00:22:58,800 Speaker 1: be a much more successful, you know, in their attempts 395 00:22:58,840 --> 00:23:01,080 Speaker 1: and and and kind of trying to do something that 396 00:23:01,200 --> 00:23:04,280 Speaker 1: works for both you know, us and and for other startups. 397 00:23:05,560 --> 00:23:10,720 Speaker 1: So asymmetrical warfare and big consumer product groups are like 398 00:23:10,920 --> 00:23:14,160 Speaker 1: carriers that that that's quite interesting. Let's talk a little 399 00:23:14,160 --> 00:23:19,560 Speaker 1: bit about the technology that you're actually considering looking at 400 00:23:19,720 --> 00:23:24,359 Speaker 1: thinking about how does technology help you track how effective 401 00:23:24,440 --> 00:23:28,000 Speaker 1: your marketing is and what does it teach you about 402 00:23:28,160 --> 00:23:32,800 Speaker 1: your customers. You know, we that that are kind of 403 00:23:32,960 --> 00:23:36,160 Speaker 1: you know, in terms of technology that are too. Two 404 00:23:36,240 --> 00:23:39,080 Speaker 1: big things you know that that we're doing. Of course, 405 00:23:39,160 --> 00:23:42,520 Speaker 1: one is more on the Martek side of things, right, 406 00:23:42,640 --> 00:23:46,480 Speaker 1: being able to to track your you know, your spend, 407 00:23:46,560 --> 00:23:49,600 Speaker 1: passion and reagital and measure are ally and optimize and 408 00:23:50,119 --> 00:23:53,440 Speaker 1: understand consumers, segment the audiences and do all all of that. 409 00:23:54,240 --> 00:23:56,000 Speaker 1: I think that they know a lot of people are 410 00:23:56,040 --> 00:23:57,639 Speaker 1: trying to do. But the other thing that we are 411 00:23:57,720 --> 00:24:02,879 Speaker 1: we're also doing. It's too have more direct relationship, you know, 412 00:24:03,000 --> 00:24:07,560 Speaker 1: with our consumers to really be able to measure you know, 413 00:24:07,760 --> 00:24:10,440 Speaker 1: full funnel right from people getting to know your brain 414 00:24:10,560 --> 00:24:14,320 Speaker 1: all the way to making a final final purchase. And 415 00:24:14,480 --> 00:24:18,560 Speaker 1: we have businesses for example, in in in Latin America 416 00:24:18,640 --> 00:24:21,119 Speaker 1: now in a lot of countries in Latin America that 417 00:24:21,200 --> 00:24:24,280 Speaker 1: it can basically have your beier delivered you know, to 418 00:24:24,400 --> 00:24:26,840 Speaker 1: your home and and tell me and it's like you 419 00:24:26,920 --> 00:24:30,960 Speaker 1: would have you know, Amazon time in the in the US. 420 00:24:31,200 --> 00:24:33,800 Speaker 1: So you know, that's kind of you know, a dual 421 00:24:34,040 --> 00:24:37,600 Speaker 1: dual approach. One approaches you know, the technology in terms 422 00:24:37,640 --> 00:24:41,840 Speaker 1: of marketing technology and how to how to measure and 423 00:24:41,920 --> 00:24:43,800 Speaker 1: how to track things better. But the other one is 424 00:24:43,840 --> 00:24:48,160 Speaker 1: how do you create technology special earn e commerce where 425 00:24:48,400 --> 00:24:51,679 Speaker 1: you have you know, better data and better measurement by 426 00:24:51,760 --> 00:24:57,360 Speaker 1: having a direct relationship with consumers. Quite interesting, consumer preferences 427 00:24:57,640 --> 00:25:01,840 Speaker 1: seem to change so rapidly in spirits and beer, I mean, 428 00:25:02,000 --> 00:25:04,560 Speaker 1: heart Seltzer. I don't even know if this existed ten 429 00:25:04,640 --> 00:25:08,200 Speaker 1: years ago and then suddenly boom, it's everywhere. How do 430 00:25:08,280 --> 00:25:12,400 Speaker 1: you use tech and big data to track what are 431 00:25:12,520 --> 00:25:15,480 Speaker 1: the new trends that are bubbling up? How could you 432 00:25:15,520 --> 00:25:19,240 Speaker 1: tell the difference between something that's a serious change in 433 00:25:19,359 --> 00:25:22,720 Speaker 1: consumer habits or what is just a fad that's gonna 434 00:25:23,359 --> 00:25:28,280 Speaker 1: very rapidly go away. Yeah, I think seeing the things 435 00:25:28,320 --> 00:25:32,520 Speaker 1: that are picking up, you know, it's relatively it's relatively easier, 436 00:25:32,640 --> 00:25:35,119 Speaker 1: right to be with the grand Larry data that you 437 00:25:35,240 --> 00:25:38,920 Speaker 1: have in social listening, in Google trends and all that. 438 00:25:39,560 --> 00:25:43,080 Speaker 1: I think it's kind of, you know, easier to understand 439 00:25:43,200 --> 00:25:46,399 Speaker 1: what's popping up and what's going on. I think the 440 00:25:46,520 --> 00:25:48,399 Speaker 1: real question is the one that you ask, right, what 441 00:25:48,520 --> 00:25:51,840 Speaker 1: are the things that you should really investigate and understand 442 00:25:51,920 --> 00:25:56,240 Speaker 1: the drivers because they seem to be more long term, 443 00:25:56,520 --> 00:25:59,159 Speaker 1: long term things, and what are the fads, and I 444 00:25:59,240 --> 00:26:02,480 Speaker 1: think you know, in our experience that are two factors 445 00:26:02,560 --> 00:26:06,000 Speaker 1: that have been you know, that have been separating the 446 00:26:06,119 --> 00:26:09,520 Speaker 1: stats from the from the things that are real. You know. 447 00:26:09,720 --> 00:26:13,640 Speaker 1: One of them is how this new product is really 448 00:26:13,720 --> 00:26:18,760 Speaker 1: aligned with long term trends. Right. So to give you 449 00:26:18,760 --> 00:26:21,720 Speaker 1: an example, you know, in the US, for example, for 450 00:26:21,800 --> 00:26:24,640 Speaker 1: the past few years, we had a lot of new 451 00:26:24,760 --> 00:26:28,480 Speaker 1: flavors and you know, hard soda or you know not 452 00:26:28,640 --> 00:26:32,520 Speaker 1: your father's roots here and things like that that were 453 00:26:33,280 --> 00:26:36,720 Speaker 1: in terms of health and wellness, they were almost anti trend, 454 00:26:36,800 --> 00:26:39,639 Speaker 1: you know, because of the pointity of sugar and calories 455 00:26:39,760 --> 00:26:42,600 Speaker 1: and and and all that. You know, and now you 456 00:26:42,720 --> 00:26:46,640 Speaker 1: have heart cells. So we actually provides the flavor, provides 457 00:26:46,680 --> 00:26:50,159 Speaker 1: a variety, but it's pretty much aligned with you know, 458 00:26:50,240 --> 00:26:53,200 Speaker 1: a very strong long term trend in terms of health 459 00:26:53,280 --> 00:26:56,200 Speaker 1: and wellness. You know. So that's kind of you know, 460 00:26:56,359 --> 00:26:59,760 Speaker 1: one indicator of the things that are more sustainable than 461 00:27:00,119 --> 00:27:03,200 Speaker 1: than than fat. And then the second one is is 462 00:27:03,240 --> 00:27:07,359 Speaker 1: the kind of the consumer that you see adopting you know, 463 00:27:07,520 --> 00:27:10,000 Speaker 1: these new these new products, you know, whenever it's just 464 00:27:10,320 --> 00:27:13,919 Speaker 1: you know, now for consumer in the East and West coast, 465 00:27:14,320 --> 00:27:16,680 Speaker 1: you know that it's kind of they they try everything, 466 00:27:16,840 --> 00:27:19,359 Speaker 1: and you know they you know, everything new that they 467 00:27:19,480 --> 00:27:23,000 Speaker 1: go there and try. Then it's it's hard, you know 468 00:27:23,200 --> 00:27:26,240 Speaker 1: to establish on others there's simply more sutainable or it's 469 00:27:26,400 --> 00:27:29,119 Speaker 1: uh or it's you know, it's sad. But when you 470 00:27:29,200 --> 00:27:33,120 Speaker 1: see consumers that are more mainstream, you know, consumers mass 471 00:27:33,160 --> 00:27:37,000 Speaker 1: consumers that there's start adopting, then you you have a heart. 472 00:27:37,280 --> 00:27:40,960 Speaker 1: You have a huge indicator that the trend is more 473 00:27:41,200 --> 00:27:44,639 Speaker 1: is more sustainable, and also that that's kind of you know, 474 00:27:44,800 --> 00:27:47,960 Speaker 1: the two things that are being observing that make a difference. 475 00:27:48,960 --> 00:27:51,840 Speaker 1: One of the things I once heard you say that 476 00:27:52,040 --> 00:28:01,879 Speaker 1: fascinated me was beer created civilization discuss Yeah, it was 477 00:28:01,920 --> 00:28:06,680 Speaker 1: actually not need Those are the archaeologists and you know 478 00:28:06,800 --> 00:28:09,200 Speaker 1: that you know a lot of scientific evidence about that. 479 00:28:09,400 --> 00:28:12,159 Speaker 1: But the story is, you know, beer exists for more 480 00:28:12,200 --> 00:28:17,440 Speaker 1: than ten thousand years, and you know, before before that period, 481 00:28:18,000 --> 00:28:21,280 Speaker 1: you know, humans were basically you know, no mats, right, 482 00:28:21,320 --> 00:28:23,920 Speaker 1: they will hunter, they will hunt, and they will gather, 483 00:28:24,200 --> 00:28:26,760 Speaker 1: and they will move from place to place as the 484 00:28:26,840 --> 00:28:29,600 Speaker 1: resources become more scarce. And then and then a lot 485 00:28:29,680 --> 00:28:34,440 Speaker 1: of academics were trying to explain why human being settled 486 00:28:34,560 --> 00:28:38,280 Speaker 1: in communities you know, in the first place, and until 487 00:28:38,360 --> 00:28:41,760 Speaker 1: the nineties fifties, you know, the main theory was that 488 00:28:42,320 --> 00:28:47,280 Speaker 1: they start settling communities to plant, grow and stow wheats, 489 00:28:47,600 --> 00:28:50,000 Speaker 1: you know, to make bread and and and that's why 490 00:28:50,120 --> 00:28:53,640 Speaker 1: they you know, they start fawnning. But since the fifties, 491 00:28:53,760 --> 00:28:56,200 Speaker 1: there is a lot of evidence that the most you know, 492 00:28:56,320 --> 00:28:59,400 Speaker 1: the most ancient grains that they are finding in this 493 00:28:59,600 --> 00:29:03,320 Speaker 1: very the settlement was was body, I know, was not 494 00:29:03,680 --> 00:29:05,560 Speaker 1: was our weak and I don't know if you try 495 00:29:05,640 --> 00:29:07,680 Speaker 1: to make a bread out of out of body, but 496 00:29:07,760 --> 00:29:10,400 Speaker 1: it kind of doesn't work out, you know, so who 497 00:29:10,440 --> 00:29:14,760 Speaker 1: apparently apparently the first you know, the grains that they 498 00:29:14,880 --> 00:29:17,320 Speaker 1: found or it was body and it was basically two 499 00:29:17,880 --> 00:29:20,920 Speaker 1: you know, to make beer. Right, So again, you know, 500 00:29:21,080 --> 00:29:24,200 Speaker 1: I think beer, you know, the beer that that the 501 00:29:24,360 --> 00:29:27,320 Speaker 1: rule that beer has been playing you know, in society 502 00:29:27,400 --> 00:29:30,480 Speaker 1: for the last ten thousand years. It's truly to bring 503 00:29:30,600 --> 00:29:33,200 Speaker 1: people together. It's an interesting to see it. You know 504 00:29:33,360 --> 00:29:35,440 Speaker 1: that there is some evidence that it's been doing that 505 00:29:35,560 --> 00:29:39,560 Speaker 1: for more than ten thousand years. Beer civilized people. I 506 00:29:40,080 --> 00:29:42,960 Speaker 1: like that. I like that concept. So let's talk about 507 00:29:42,960 --> 00:29:48,120 Speaker 1: an old joke and advertising, which is half of advertising 508 00:29:48,200 --> 00:29:52,560 Speaker 1: dollars are wasted. The problem is we don't know which half. 509 00:29:53,160 --> 00:29:56,000 Speaker 1: So that raises the question, how do you measure the 510 00:29:56,200 --> 00:30:01,800 Speaker 1: impact of things like brands and influence and commercials. How 511 00:30:01,840 --> 00:30:04,520 Speaker 1: do you recognize what actually works and what doesn't. What's 512 00:30:04,840 --> 00:30:09,440 Speaker 1: the process like for that? Yeah, I think I think 513 00:30:09,520 --> 00:30:12,080 Speaker 1: that that phrase I mean, of course, I mean it's 514 00:30:12,120 --> 00:30:16,000 Speaker 1: not not perfect, but this phrase was very very true 515 00:30:16,600 --> 00:30:20,720 Speaker 1: probably ten fifteen years ago, where digital and digital market 516 00:30:20,880 --> 00:30:24,080 Speaker 1: is not so prevalent, where you had basically, you know, 517 00:30:24,240 --> 00:30:28,680 Speaker 1: mass communication very hard for you to you know, to 518 00:30:28,840 --> 00:30:32,280 Speaker 1: relay the mass communication. Today, you know, in a lot 519 00:30:32,320 --> 00:30:36,120 Speaker 1: of places, we have operations that you can link every 520 00:30:36,160 --> 00:30:39,320 Speaker 1: single dollar that you spent on advertising, you know, for 521 00:30:39,440 --> 00:30:42,280 Speaker 1: the people clicking on your advertising being led to one 522 00:30:42,320 --> 00:30:45,840 Speaker 1: of all the commers platforms, you know, purchasing the product 523 00:30:45,920 --> 00:30:49,240 Speaker 1: and coming back. So in a way you can calculate 524 00:30:49,440 --> 00:30:53,360 Speaker 1: very well what you know, the consumer lifetime value is 525 00:30:53,440 --> 00:30:57,200 Speaker 1: and how much money you spend to acquire you know 526 00:30:57,400 --> 00:31:02,400 Speaker 1: that that that customer. Right, So the things have become again, 527 00:31:02,520 --> 00:31:05,560 Speaker 1: you know, with the commers and with technology marketing technology 528 00:31:06,760 --> 00:31:10,360 Speaker 1: became much better and and I think the other thing 529 00:31:10,520 --> 00:31:14,480 Speaker 1: is you know today, uh, you know, back in the days, 530 00:31:14,520 --> 00:31:17,760 Speaker 1: you will kind of spend the money and then you'll 531 00:31:17,920 --> 00:31:20,960 Speaker 1: you'll try to look back and use some econometric modeling 532 00:31:21,040 --> 00:31:23,840 Speaker 1: and and marketing mixed modeling to show another that I 533 00:31:23,920 --> 00:31:26,840 Speaker 1: think worked or not. Today we are we are working 534 00:31:26,960 --> 00:31:29,320 Speaker 1: much more in terms of you know, you have a 535 00:31:29,440 --> 00:31:33,280 Speaker 1: high parts and you have you know, some variations of 536 00:31:33,560 --> 00:31:36,640 Speaker 1: creative lines and campaigns that you want to test, and 537 00:31:36,720 --> 00:31:38,640 Speaker 1: then you put that in digital and then you keep 538 00:31:38,720 --> 00:31:41,080 Speaker 1: running them and seeing on a daily basis what's working 539 00:31:41,080 --> 00:31:44,520 Speaker 1: and what's not to be tasting and and putting money 540 00:31:45,320 --> 00:31:47,960 Speaker 1: behind the ones that do work, you know. So I 541 00:31:48,560 --> 00:31:52,200 Speaker 1: really believe that productivity, you know, and the returns have 542 00:31:52,320 --> 00:31:55,680 Speaker 1: improved substantially, you know, for the companies that are being 543 00:31:55,720 --> 00:32:01,320 Speaker 1: able to deploy you know, marketing technology and analytics. So 544 00:32:01,520 --> 00:32:04,200 Speaker 1: digital certainly is helping. How do you how do you 545 00:32:04,280 --> 00:32:07,080 Speaker 1: look at things like social What what do you think 546 00:32:07,160 --> 00:32:11,280 Speaker 1: of places like Facebook and Twitter? Is it a marketer's 547 00:32:11,400 --> 00:32:16,000 Speaker 1: paradise because it's so specific and can get so granular 548 00:32:16,680 --> 00:32:18,680 Speaker 1: or do you run into the same issues that you 549 00:32:18,800 --> 00:32:25,800 Speaker 1: run into advertising anywhere? Yeah, it's you know, these platforms 550 00:32:25,920 --> 00:32:30,600 Speaker 1: they allow you to understand your audience and provide a 551 00:32:30,720 --> 00:32:33,960 Speaker 1: message that it's much more adequate to the to the 552 00:32:34,040 --> 00:32:37,520 Speaker 1: audience that you're trying to reach. Right. So back again, 553 00:32:37,600 --> 00:32:39,800 Speaker 1: back in the days, you know, you would have to 554 00:32:39,920 --> 00:32:42,600 Speaker 1: do a kind of a TV campaign, and the TV 555 00:32:42,680 --> 00:32:45,680 Speaker 1: campaign is for everybody. So you you would pick some 556 00:32:46,360 --> 00:32:49,200 Speaker 1: some passion points or some sponsorships, and then you would 557 00:32:49,680 --> 00:32:52,360 Speaker 1: you would kind of blast that sponsorship to the to 558 00:32:52,480 --> 00:32:56,120 Speaker 1: the whole population through through TV. You know. Today, what 559 00:32:56,280 --> 00:32:59,320 Speaker 1: these platforms they allow you to do is to understand 560 00:33:00,040 --> 00:33:03,280 Speaker 1: you know, consumer segmentation, the interests of people you know, 561 00:33:03,440 --> 00:33:06,360 Speaker 1: and and and how many of them are there, and 562 00:33:06,440 --> 00:33:09,280 Speaker 1: the engagement which one of the passion points, and then 563 00:33:09,360 --> 00:33:13,440 Speaker 1: it allows you to you know, to basically communicate with 564 00:33:13,560 --> 00:33:17,520 Speaker 1: them through passion points. Right. So, for example, inverter Wiser, 565 00:33:17,960 --> 00:33:19,840 Speaker 1: you know, we have a lot of sponsorships. You know, 566 00:33:20,000 --> 00:33:24,160 Speaker 1: we we sponsor music, sponsor sports. You know, we we 567 00:33:24,360 --> 00:33:28,800 Speaker 1: have kind of responsor urban culture, responsor arts, uh, you know, 568 00:33:28,920 --> 00:33:31,680 Speaker 1: and and uh and a bunch of other things. You know, 569 00:33:31,840 --> 00:33:34,360 Speaker 1: back in the days, will kind of pick you know, 570 00:33:34,520 --> 00:33:38,520 Speaker 1: one passion point like football for example, and you communicate 571 00:33:38,640 --> 00:33:42,200 Speaker 1: through that platform and that sponsorship to the whole population. 572 00:33:42,320 --> 00:33:44,080 Speaker 1: And what this platform is really allow you to do 573 00:33:44,120 --> 00:33:47,680 Speaker 1: is to understand specific passion points and then what resonates 574 00:33:47,720 --> 00:33:51,560 Speaker 1: through rich consumer segment and be much more surgical value 575 00:33:51,680 --> 00:33:57,280 Speaker 1: or messaging. So you guys own three of my favorite beers. 576 00:33:57,360 --> 00:34:01,160 Speaker 1: You own Stella, you own Whole Garden, you own Shock Top. 577 00:34:01,840 --> 00:34:06,360 Speaker 1: When you're thinking about marketing a particular brands or a 578 00:34:06,520 --> 00:34:10,560 Speaker 1: premium beer versus a sort of mainstream beer or a microbrew, 579 00:34:12,200 --> 00:34:17,880 Speaker 1: is it all about just micro targeting that specific passion 580 00:34:18,120 --> 00:34:22,200 Speaker 1: to a group or is there a broader, more holistic 581 00:34:22,760 --> 00:34:27,520 Speaker 1: branding approach somewhere in the background. No, there is a 582 00:34:27,719 --> 00:34:29,239 Speaker 1: you know, we we kind of you know, we have 583 00:34:29,440 --> 00:34:32,760 Speaker 1: kind of our our process and on how to build 584 00:34:33,280 --> 00:34:36,520 Speaker 1: the brands and the brands they are at different stages 585 00:34:36,600 --> 00:34:39,680 Speaker 1: in different markets, so there's a very you know, specific 586 00:34:39,760 --> 00:34:43,960 Speaker 1: approach to to give you, like, you know, an example, 587 00:34:44,600 --> 00:34:48,160 Speaker 1: Scala is of course at at a much different stage 588 00:34:48,239 --> 00:34:51,239 Speaker 1: than than who got in or or Shocked Top right. 589 00:34:52,040 --> 00:34:55,120 Speaker 1: And you know, whenever, whenever we start, you know, in 590 00:34:55,200 --> 00:34:58,040 Speaker 1: a country with a new brand, we we focus mainly 591 00:34:58,560 --> 00:35:01,840 Speaker 1: on creating salients for brand and people getting to know 592 00:35:02,000 --> 00:35:05,840 Speaker 1: that brand and creating points of difference you know, to 593 00:35:05,960 --> 00:35:08,640 Speaker 1: other beers, so that we entype the career ositive of 594 00:35:08,680 --> 00:35:12,000 Speaker 1: people to consume the beer. You know. As the brand grows, 595 00:35:12,160 --> 00:35:15,759 Speaker 1: then we focus more on on relevance and meaning, you know, 596 00:35:15,960 --> 00:35:18,840 Speaker 1: what what does this brand do for you know, for 597 00:35:19,000 --> 00:35:21,239 Speaker 1: our consumers, and how it can create more of an 598 00:35:21,239 --> 00:35:25,239 Speaker 1: emotional connection you know, over time. Right, So, so there 599 00:35:25,320 --> 00:35:27,239 Speaker 1: is you know, there is a different approach of course, 600 00:35:27,320 --> 00:35:29,400 Speaker 1: depending on the on the size of the brand and 601 00:35:29,440 --> 00:35:34,320 Speaker 1: at the stage that it is. That's really interesting. You 602 00:35:34,400 --> 00:35:37,880 Speaker 1: guys have been very active in the mergers and acquisition space. 603 00:35:38,000 --> 00:35:42,360 Speaker 1: You seem to be adding products or at least pre pandemic, 604 00:35:42,880 --> 00:35:46,200 Speaker 1: you were adding products to your portfolio on a regular basis. 605 00:35:46,719 --> 00:35:49,640 Speaker 1: When a new brand comes in, how do you go 606 00:35:49,840 --> 00:35:52,799 Speaker 1: about marketing that? Do you do? You have to come 607 00:35:52,880 --> 00:35:56,480 Speaker 1: up with a whole new strategy for each new acquisition 608 00:35:56,719 --> 00:36:01,680 Speaker 1: to take us through that process. Well, it depends a 609 00:36:01,760 --> 00:36:05,200 Speaker 1: little bit. So first first and foremost, very we started 610 00:36:05,200 --> 00:36:07,800 Speaker 1: with with the consumer you know, and we try to 611 00:36:07,920 --> 00:36:11,360 Speaker 1: map out in in every market what's kind of the 612 00:36:11,440 --> 00:36:15,799 Speaker 1: total addressable you know, population that we have, and then 613 00:36:15,880 --> 00:36:19,440 Speaker 1: we try to segment them and try to define what 614 00:36:19,800 --> 00:36:25,000 Speaker 1: brand and what beer styles or beverage styles are ideal 615 00:36:25,320 --> 00:36:29,160 Speaker 1: to you know, address the needs of these consumers. Right, 616 00:36:29,200 --> 00:36:31,880 Speaker 1: so even sometimes we even call this kind of a 617 00:36:32,120 --> 00:36:35,360 Speaker 1: programmatic in an a approach because we start from the 618 00:36:35,480 --> 00:36:39,240 Speaker 1: consumer lenses and then we go backwards and we define 619 00:36:39,320 --> 00:36:43,000 Speaker 1: what the perfect portfolio that we need in order to 620 00:36:43,719 --> 00:36:47,319 Speaker 1: you know, to to serve that that consumer. And then 621 00:36:47,400 --> 00:36:49,320 Speaker 1: the answer you know, kind of how to do the 622 00:36:49,400 --> 00:36:52,520 Speaker 1: market and help to integrate the market depends a lot 623 00:36:53,520 --> 00:36:55,960 Speaker 1: on the on the type of consumer we are trying 624 00:36:56,000 --> 00:36:59,400 Speaker 1: to to reach, right So, to give an example into 625 00:36:59,520 --> 00:37:03,960 Speaker 1: thousand sixteen, we partner up with Candem Town Brewery, you 626 00:37:04,040 --> 00:37:07,279 Speaker 1: know in London, the you know, the most loved and 627 00:37:07,600 --> 00:37:10,600 Speaker 1: precedious craft beer uh you know in in the UK 628 00:37:10,840 --> 00:37:14,960 Speaker 1: today and and their consumers you know, they are they 629 00:37:15,000 --> 00:37:18,360 Speaker 1: are people with a high level of engagement, you know, 630 00:37:18,520 --> 00:37:21,480 Speaker 1: with with the brewery, with the neighborhood, with the community 631 00:37:22,360 --> 00:37:26,880 Speaker 1: and with beer. So we did very little advertising, and 632 00:37:27,360 --> 00:37:30,320 Speaker 1: you know, one of our main tools you know for 633 00:37:30,840 --> 00:37:34,320 Speaker 1: promoting the beer was basically the events get to have 634 00:37:34,480 --> 00:37:36,880 Speaker 1: on a weekly basis in the brewery and then the 635 00:37:36,960 --> 00:37:39,759 Speaker 1: group of that that we had, you know, that's kind 636 00:37:39,800 --> 00:37:43,600 Speaker 1: of of course, it's like super different from the way 637 00:37:44,120 --> 00:37:47,399 Speaker 1: we launched a but like Felter right, which is again, 638 00:37:47,520 --> 00:37:49,879 Speaker 1: you know a lot of people are passionate about bud light, 639 00:37:50,360 --> 00:37:52,319 Speaker 1: but now we are providing them with the bud light 640 00:37:52,840 --> 00:37:55,600 Speaker 1: UH that confused different needs in different occasions and the 641 00:37:55,680 --> 00:37:58,120 Speaker 1: one that they're used to, you know. So again, I 642 00:37:58,200 --> 00:38:01,520 Speaker 1: think the important thing here always is to start from 643 00:38:01,800 --> 00:38:05,400 Speaker 1: you know, from the consumer backwards and then define what 644 00:38:05,640 --> 00:38:08,320 Speaker 1: brands you need to create or partner up with, and 645 00:38:08,440 --> 00:38:12,280 Speaker 1: then what are the best channels and ways to communicate 646 00:38:12,360 --> 00:38:16,120 Speaker 1: with them. Quite interesting, Let me ask you a question 647 00:38:16,719 --> 00:38:20,600 Speaker 1: about the company culture. A ban in BEV has a 648 00:38:20,680 --> 00:38:26,520 Speaker 1: reputation of being both challenging but breeding talent. And as 649 00:38:26,560 --> 00:38:31,640 Speaker 1: an example, your predecessor as chief marketing officer is now 650 00:38:31,800 --> 00:38:36,600 Speaker 1: the CEO of food Giant craft Higns. What does this 651 00:38:36,719 --> 00:38:39,480 Speaker 1: say about the corporate culture and what does it mean 652 00:38:39,600 --> 00:38:42,680 Speaker 1: as to where where you may end up running a 653 00:38:42,760 --> 00:38:45,719 Speaker 1: company at some point in the future. You know, we 654 00:38:46,040 --> 00:38:50,160 Speaker 1: have a culture very that is very is very entrepreneurial, 655 00:38:50,520 --> 00:38:52,640 Speaker 1: you know, and and and for me it's hard to 656 00:38:52,640 --> 00:38:55,520 Speaker 1: say that because I've been working here for twenty years. 657 00:38:55,600 --> 00:38:58,719 Speaker 1: That was my first and only job. But I realized 658 00:38:58,760 --> 00:39:01,320 Speaker 1: that when we set up UH as the ex Rangers 659 00:39:01,520 --> 00:39:04,320 Speaker 1: you know, back in two thousands fifteen, because at the 660 00:39:04,440 --> 00:39:07,320 Speaker 1: time we're trying to hire a lot of entrepreneurial talent 661 00:39:07,920 --> 00:39:11,520 Speaker 1: to run new ventures and and run new ideas, and 662 00:39:11,640 --> 00:39:15,239 Speaker 1: we had a big discussion on on where that we 663 00:39:15,360 --> 00:39:19,040 Speaker 1: should have in the ex ventures the same culture that 664 00:39:19,160 --> 00:39:22,759 Speaker 1: we had in our in our main company, or you know, 665 00:39:22,880 --> 00:39:26,120 Speaker 1: we should try to do something different and talking you know, 666 00:39:26,280 --> 00:39:28,880 Speaker 1: two people that we brought from the outside and you know, 667 00:39:29,480 --> 00:39:33,040 Speaker 1: when they looked at our culture and erstand our culture, 668 00:39:33,080 --> 00:39:35,840 Speaker 1: they say, this is entrepreneurial culture. You know, that's like, 669 00:39:36,000 --> 00:39:39,719 Speaker 1: that's exactly what entrepreneurs are. They look for. So the 670 00:39:39,800 --> 00:39:42,320 Speaker 1: main the main things that have in our culture and 671 00:39:42,400 --> 00:39:46,080 Speaker 1: are about you know, dreaming big, right. We like people, 672 00:39:46,600 --> 00:39:48,560 Speaker 1: you know that come here with big dreams and want 673 00:39:48,560 --> 00:39:50,960 Speaker 1: to accomplish big things and want to have you know, 674 00:39:51,040 --> 00:39:55,360 Speaker 1: a big impact. We love people that they like meritocracy, 675 00:39:55,880 --> 00:39:59,480 Speaker 1: you know, which is the possibility of of growing profession 676 00:39:59,600 --> 00:40:03,120 Speaker 1: and nationally at the base of the of your effort 677 00:40:03,160 --> 00:40:05,759 Speaker 1: and talent. And we like to bring people that have 678 00:40:05,920 --> 00:40:08,480 Speaker 1: a sense of ownership, you know that they treat the 679 00:40:08,560 --> 00:40:11,400 Speaker 1: business of their own business and they have the autonomy, 680 00:40:12,000 --> 00:40:14,240 Speaker 1: you know, like if they have their their own business, 681 00:40:14,320 --> 00:40:16,279 Speaker 1: you know, so that those are the main things in 682 00:40:16,400 --> 00:40:19,040 Speaker 1: the you know that are had in the in the culture. 683 00:40:19,320 --> 00:40:23,640 Speaker 1: Easy acts of people that we brought to the company. 684 00:40:24,200 --> 00:40:29,480 Speaker 1: They were external entrepreneurial talent. And our turnover is super low, 685 00:40:30,040 --> 00:40:32,279 Speaker 1: you know, so which means that I think there is 686 00:40:32,320 --> 00:40:37,400 Speaker 1: a fit between you know, the entrepreneurial culture and our culture. 687 00:40:38,200 --> 00:40:42,080 Speaker 1: What what about pressure? Do you feel the situation when 688 00:40:42,160 --> 00:40:46,720 Speaker 1: your predecessor is running leaves to run a giant company. 689 00:40:46,800 --> 00:40:51,200 Speaker 1: Does that does that add anything to the expectations for 690 00:40:51,360 --> 00:40:54,879 Speaker 1: what Pedro Earth is going to end up doing at 691 00:40:54,920 --> 00:40:59,080 Speaker 1: a b in bev there you know again, you know, 692 00:40:59,200 --> 00:41:01,400 Speaker 1: going going back to the to the culture, you know 693 00:41:01,719 --> 00:41:04,759 Speaker 1: that the pressure that we're having here is because we 694 00:41:04,920 --> 00:41:07,320 Speaker 1: want to accomplish more, you know, as a team and 695 00:41:07,640 --> 00:41:10,120 Speaker 1: as owners. You know, it's not a pressure that comes, 696 00:41:10,680 --> 00:41:13,160 Speaker 1: you know, because the border wants us to do something 697 00:41:13,280 --> 00:41:15,560 Speaker 1: or deliver something. On the CEO wants to do something 698 00:41:15,600 --> 00:41:18,399 Speaker 1: and deliver something. You know, we see ourselves and again 699 00:41:18,480 --> 00:41:21,399 Speaker 1: I've been here for you know, for for twenty years, 700 00:41:21,600 --> 00:41:25,040 Speaker 1: since this company here you know, was a small company 701 00:41:25,280 --> 00:41:27,640 Speaker 1: you know, back back in Brazil, and we've been behaving 702 00:41:28,040 --> 00:41:30,600 Speaker 1: you know, the same. We see ourselves as you know, 703 00:41:30,719 --> 00:41:33,960 Speaker 1: a group of people that want to, you know, to 704 00:41:34,280 --> 00:41:37,160 Speaker 1: to accomplish things and are ready to you know, to 705 00:41:37,440 --> 00:41:39,560 Speaker 1: to work as owners in order to in order to 706 00:41:39,680 --> 00:41:41,719 Speaker 1: do that. So the pressure for me is much more, 707 00:41:42,440 --> 00:41:45,920 Speaker 1: you know, given by by our our ambitions and what 708 00:41:46,080 --> 00:41:50,560 Speaker 1: we want to get accomplished, rather than by an external force. Huh. 709 00:41:51,080 --> 00:41:53,880 Speaker 1: Quite fascinating. I know I only have you for a 710 00:41:53,920 --> 00:41:57,240 Speaker 1: couple of more minutes. So let's jump to our favorite 711 00:41:57,320 --> 00:42:01,960 Speaker 1: questions that we ask all of our starting with what 712 00:42:02,040 --> 00:42:05,000 Speaker 1: are you streaming these days? Tell us your favorite Netflix 713 00:42:05,560 --> 00:42:08,880 Speaker 1: or Amazon Prime show or any podcast that you're listening to. 714 00:42:10,920 --> 00:42:15,080 Speaker 1: All right, so you know, I Netflix, I haven't been 715 00:42:15,200 --> 00:42:19,200 Speaker 1: watching too much Netflix lately, and all the last the 716 00:42:19,320 --> 00:42:23,080 Speaker 1: last one that I saw and I even missed. I 717 00:42:23,239 --> 00:42:26,920 Speaker 1: think the last episode was the last Dance, you know, 718 00:42:27,040 --> 00:42:31,680 Speaker 1: which is of course I'm fascinating. And but podcast I 719 00:42:32,520 --> 00:42:34,480 Speaker 1: you know, I I listened a lot. I mean, I 720 00:42:34,600 --> 00:42:38,920 Speaker 1: listened to the Bloomberg one. I listened, you know, you know, 721 00:42:39,040 --> 00:42:42,800 Speaker 1: the CMO pod podcast is really great, the Skat Galloway 722 00:42:42,880 --> 00:42:45,480 Speaker 1: prof Ga It's really good. Uh, you know, I I 723 00:42:45,760 --> 00:42:48,400 Speaker 1: try to exercise, you know, every morning and for me, 724 00:42:48,520 --> 00:42:52,959 Speaker 1: that's the ideal format in order to learn something get 725 00:42:53,560 --> 00:42:59,839 Speaker 1: you know, getting formed while while trying to keep healthy. Huh. 726 00:43:00,280 --> 00:43:03,440 Speaker 1: Tell us about some of your mentors who helped shape 727 00:43:03,560 --> 00:43:10,400 Speaker 1: your career in the world of marketing. Yeah, you know, 728 00:43:10,560 --> 00:43:13,040 Speaker 1: very kind of in the I mean when when I 729 00:43:13,160 --> 00:43:15,520 Speaker 1: joined the company, the company was kind of in a 730 00:43:15,719 --> 00:43:19,239 Speaker 1: crazy rhythm, right because we are growing a lot and 731 00:43:19,360 --> 00:43:22,640 Speaker 1: expanding and doing a lot of things. So in a way, uh, 732 00:43:22,840 --> 00:43:25,920 Speaker 1: you know, our training and our mentorship came more on 733 00:43:26,040 --> 00:43:29,000 Speaker 1: a on a day to day basis, you know, and 734 00:43:29,200 --> 00:43:32,239 Speaker 1: and facing the challenges that we that we staged, rather 735 00:43:32,320 --> 00:43:35,800 Speaker 1: than proper kind of mentorship, you know, for someone that 736 00:43:35,880 --> 00:43:38,880 Speaker 1: I would have like deep conversations and and get some 737 00:43:39,320 --> 00:43:42,759 Speaker 1: some learnings from. Of course, I'm into my you know, 738 00:43:42,920 --> 00:43:45,239 Speaker 1: my you know, before joining the company, of course, I 739 00:43:45,280 --> 00:43:47,960 Speaker 1: mean my parents in terms of work, cathotics and fatties, 740 00:43:48,000 --> 00:43:50,920 Speaker 1: they were you know, they were fundamental, you know. But 741 00:43:51,040 --> 00:43:53,680 Speaker 1: after that, if you know, in terms of kind of 742 00:43:53,880 --> 00:43:57,200 Speaker 1: learning you know, from the outside world. I'm a big 743 00:43:57,280 --> 00:43:59,720 Speaker 1: fan of reading, you know, I think that the beauty 744 00:43:59,760 --> 00:44:02,320 Speaker 1: of reading is that, you know, you can try to 745 00:44:03,360 --> 00:44:06,400 Speaker 1: the extent possible learn with other people's mistakes. Is that 746 00:44:06,680 --> 00:44:10,879 Speaker 1: with your own mistakes. So I've been you know, I've 747 00:44:10,920 --> 00:44:14,120 Speaker 1: been really quite a lot since uh, you know, since 748 00:44:14,160 --> 00:44:19,160 Speaker 1: I left a Quality So let's jump right into that question. 749 00:44:19,320 --> 00:44:22,120 Speaker 1: This is everybody's favorite question because people are always looking 750 00:44:22,680 --> 00:44:25,200 Speaker 1: for new things to read. Tell us some of your 751 00:44:25,280 --> 00:44:28,919 Speaker 1: favorite books and tell us what you've been reading during 752 00:44:28,960 --> 00:44:33,919 Speaker 1: the past six months. Yeah. So, you know, I'm reading 753 00:44:33,920 --> 00:44:37,160 Speaker 1: about mainly mainly two things, right. One thing is about 754 00:44:37,320 --> 00:44:41,240 Speaker 1: innovation and agility and things like that, you know, because 755 00:44:41,280 --> 00:44:43,600 Speaker 1: again that's that's kind of coul we need to do 756 00:44:43,760 --> 00:44:47,680 Speaker 1: to grow and up leading about leadership, you know, to 757 00:44:48,000 --> 00:44:50,440 Speaker 1: kind of trying to to get better as a you know, 758 00:44:50,520 --> 00:44:53,920 Speaker 1: as a leader. One book that I'm reading right now, Uh, 759 00:44:54,160 --> 00:44:58,120 Speaker 1: it's from a big consultants called Agile Done Right. You know, 760 00:44:58,239 --> 00:45:00,479 Speaker 1: there's a lot of people, a lot of he's talking 761 00:45:00,480 --> 00:45:03,799 Speaker 1: about a gile you know, and and things like that. Uh. 762 00:45:04,040 --> 00:45:06,200 Speaker 1: And and there are a lot of pit false you know, 763 00:45:06,320 --> 00:45:11,480 Speaker 1: and the mean and he's basically he's the expert in 764 00:45:11,560 --> 00:45:15,640 Speaker 1: the practicing in their consulting. So that's a pretty interesting book. 765 00:45:16,120 --> 00:45:18,239 Speaker 1: I just read it. Know a good friend of mine, 766 00:45:18,440 --> 00:45:22,080 Speaker 1: David Kidder, you know, the new Too Big book. You know, 767 00:45:22,200 --> 00:45:24,560 Speaker 1: he explains a little bit how big companies are great 768 00:45:24,600 --> 00:45:28,200 Speaker 1: at and taking big things and making them bigger, and 769 00:45:28,280 --> 00:45:31,239 Speaker 1: how entrepreneurs are great at kind of creating things from 770 00:45:31,320 --> 00:45:34,480 Speaker 1: zero and making them big, and then how big companies 771 00:45:34,520 --> 00:45:36,680 Speaker 1: can try to do book at the same time. So 772 00:45:36,840 --> 00:45:39,560 Speaker 1: this is more on the on the innovation side and 773 00:45:39,760 --> 00:45:42,879 Speaker 1: then on the on the leadership side. You know, I'm 774 00:45:43,000 --> 00:45:47,960 Speaker 1: I'm kind of almost finishing the lights out. She's h 775 00:45:48,239 --> 00:45:50,719 Speaker 1: you know, the story of g you know, and what 776 00:45:50,920 --> 00:45:53,399 Speaker 1: has been called happening with the company in Wiston, which 777 00:45:53,480 --> 00:45:57,040 Speaker 1: is a pretty interesting story. Hm, I can just say 778 00:45:57,080 --> 00:46:00,160 Speaker 1: the least. So what sort of advice would you if 779 00:46:00,200 --> 00:46:04,200 Speaker 1: to a recent college grad who was just beginning a 780 00:46:04,320 --> 00:46:11,640 Speaker 1: career in either marketing, branding or advertising. Yeah, you know, 781 00:46:11,800 --> 00:46:14,080 Speaker 1: going back to the books, you know, I'm a big 782 00:46:14,160 --> 00:46:17,480 Speaker 1: fan of Jim Collins, and Jim College has been you know, 783 00:46:17,640 --> 00:46:19,960 Speaker 1: close to you know, to our company for a long 784 00:46:20,040 --> 00:46:23,359 Speaker 1: time and we learn a lot from you know, from him, 785 00:46:23,960 --> 00:46:26,879 Speaker 1: and he has this principle, you know, and what makes 786 00:46:27,000 --> 00:46:30,760 Speaker 1: company companies great that I think it applies to people 787 00:46:30,800 --> 00:46:34,480 Speaker 1: as well. And also he says that companies are outstanding 788 00:46:34,560 --> 00:46:38,320 Speaker 1: and they last. A companies that first they love what 789 00:46:38,480 --> 00:46:41,680 Speaker 1: they do. Second, they have the DNA to do that 790 00:46:42,560 --> 00:46:46,320 Speaker 1: better than the people in third, kind of you know 791 00:46:47,040 --> 00:46:50,040 Speaker 1: what they do. You know, it's it's kind of a 792 00:46:50,120 --> 00:46:53,719 Speaker 1: sustainable economic model. You know, it's something that leads the 793 00:46:53,800 --> 00:46:57,120 Speaker 1: company to a direction that it's that it's sustainable. You know, 794 00:46:57,360 --> 00:46:59,600 Speaker 1: if if you use the analogy I think with your 795 00:47:00,440 --> 00:47:04,000 Speaker 1: you know, your professional life, for your life is you know, 796 00:47:05,440 --> 00:47:08,759 Speaker 1: try to to do what you love. You know, check 797 00:47:09,320 --> 00:47:12,560 Speaker 1: on whether what you love, you know you have the 798 00:47:12,680 --> 00:47:16,120 Speaker 1: genes or the capabilities to be to be better than 799 00:47:16,400 --> 00:47:20,279 Speaker 1: than average. And then see if by doing that thing 800 00:47:21,080 --> 00:47:23,800 Speaker 1: you know you're gonna you're gonna go, you are likely 801 00:47:23,880 --> 00:47:25,520 Speaker 1: to go to a path that is going to make 802 00:47:25,560 --> 00:47:28,919 Speaker 1: you a happy person in life. And also that's that's 803 00:47:29,000 --> 00:47:31,080 Speaker 1: kind of a framework that I think is useful to 804 00:47:31,160 --> 00:47:35,600 Speaker 1: think about your career choice. And our final question, what 805 00:47:35,719 --> 00:47:39,000 Speaker 1: do you know about the world of marketing and advertising 806 00:47:39,120 --> 00:47:42,880 Speaker 1: today that you wish you knew twenty years ago when 807 00:47:42,920 --> 00:47:48,359 Speaker 1: you were first getting started. I think, you know, when 808 00:47:48,440 --> 00:47:52,040 Speaker 1: I started, there was a lot about you know, understanding 809 00:47:52,120 --> 00:47:56,280 Speaker 1: the the theory behind it, you know, understanding about brand duty, 810 00:47:56,560 --> 00:48:02,160 Speaker 1: about channel planning, about all the all the theoretical underpinnings 811 00:48:02,239 --> 00:48:07,520 Speaker 1: and of marketing and consumer understanding. And you know today 812 00:48:08,560 --> 00:48:12,560 Speaker 1: today I think, you know, I realized that, you know, 813 00:48:14,040 --> 00:48:17,480 Speaker 1: it's about having a deep customer obsession and a deep 814 00:48:17,600 --> 00:48:20,840 Speaker 1: customer understanding you know the rest. If you have that, 815 00:48:21,640 --> 00:48:25,160 Speaker 1: the rest you can learn, you know, pretty quickly. But 816 00:48:25,360 --> 00:48:30,560 Speaker 1: having this obsessive you know, mindset on understanding what what 817 00:48:30,719 --> 00:48:33,920 Speaker 1: your you know, what what are your consumers and what 818 00:48:34,120 --> 00:48:37,800 Speaker 1: people need and how your products can can achieve that. 819 00:48:37,960 --> 00:48:40,760 Speaker 1: I think it's it's a big part of what marketers 820 00:48:41,320 --> 00:48:43,480 Speaker 1: should do well. You know the rest. I think it's 821 00:48:43,600 --> 00:48:47,719 Speaker 1: it's easier to to call thank you, Pedro for being 822 00:48:47,840 --> 00:48:51,239 Speaker 1: so generous with your time. We have been speaking with 823 00:48:51,360 --> 00:48:56,640 Speaker 1: Pedro EARP, chief marketing officer at Beer Giant a b 824 00:48:56,840 --> 00:49:00,879 Speaker 1: in Bev. If you enjoy this conversation, well, be sure 825 00:49:00,920 --> 00:49:03,360 Speaker 1: and check out any of the previous three hundred or 826 00:49:03,440 --> 00:49:06,960 Speaker 1: so we've had over the past six years. You can 827 00:49:07,080 --> 00:49:12,680 Speaker 1: find that at iTunes, Spotify, Overcast, Stitcher, wherever your finer 828 00:49:12,760 --> 00:49:17,320 Speaker 1: podcasts are sold. We love your comments, feedback and suggestions 829 00:49:18,040 --> 00:49:21,839 Speaker 1: right to us at m IB podcast at Bloomberg dot net. 830 00:49:22,239 --> 00:49:25,279 Speaker 1: Give us a review on Apple iTunes. Be sure and 831 00:49:25,400 --> 00:49:29,120 Speaker 1: check out my weekly column on Bloomberg dot com slash Opinions. 832 00:49:29,560 --> 00:49:32,719 Speaker 1: Sign up for our daily reads at rid Halts dot com. 833 00:49:33,160 --> 00:49:36,239 Speaker 1: Follow me on Twitter at rit Halts. I would be 834 00:49:36,360 --> 00:49:39,200 Speaker 1: remiss if I did not thank the Crack staff that 835 00:49:39,360 --> 00:49:43,319 Speaker 1: helps us put together these conversations each and every week. 836 00:49:43,960 --> 00:49:48,440 Speaker 1: Michael Boyle is my producer, Tim Harrow is my audio engineer. 837 00:49:48,840 --> 00:49:52,719 Speaker 1: Atika val Brunn is our project manager. Michael bat Nick 838 00:49:52,920 --> 00:49:56,759 Speaker 1: is our head of research. I'm Barry Ridholts. You've been 839 00:49:56,840 --> 00:50:00,200 Speaker 1: listening to Masters in Business on Bloomberg Rady yum