In this edition of Marketer of the Week, Ignite Visibility spotlights Penny Baldwin, SVP and Chief Marketing Officer at Qualcomm.
Ignite Visibility applauds her and the Qualcomm team for the recent growth in the company’s stock price.
As of right now, Qualcomm stock is hovering around $117 per share. That’s an increase of 30% just this year.
That happened in the midst of a global pandemic.
In fact, Citigroup just raised its price target for the stock from $108 to $132. And analyst Christopher Danely reiterated his Buy rating on the stock.
Danely sees Qualcomm earnings increasing 43% through May of next year. Companies in the same industry will see earnings growth of about 1% on average during the same timeframe.
Yes, you read that right. Qualcomm will grow its earnings 43 times more than its competitors.
Why all the success? It’s due in no small part to the company’s marketing.
Enter Penny Baldwin
Baldwin joined Qualcomm in 2017. Since then, the company’s stock price has more than doubled.
When she was hired, Qualcomm CEO Steve Mollenkopf said that “Penny’s extensive experience will help continue to drive our marketing program, which plays an important role in elevating Qualcomm’s presence and reputation around the world, showcasing the breadth of our technology solutions and driving confidence in our roadmap and future vision.”
It looks like she lived up to that promise.
That’s understandable. Baldwin brings more than 30 years of marketing experience to the table. Her professional history includes brand management, global consumer marketing, and high-tech marketing.
Oh, yeah. She’s also done the “Mad Men” thing. Baldwin worked for advertising agencies Ogilvy & Mather and McCann-Erickson.
Prior to working at Qualcomm, Baldwin worked at Intel, a $56 billion semiconductor company.
While there, she improved the brand value by $1.2 billion, according to Interbrand.
She also revived all core brand attributes following a 10-year decline. That move probably helped her earn the 2016 Intel Achievement Award for brand revitalization.
Baldwin also managed sports marketing for the brand as well as experiential activations across a variety of entertainment-related verticals.
Before Intel, she worked for almost three years as executive vice president and chief marketing officer at McAfee, a digital security company.
There, she managed a staff of 250 with an $80 million program spend. Her responsibilities included:
- Brand management
- Integrated communications
- Product/solution marketing
- Market intelligence and research
- Consumer and competitive insights
- Public relations
- Government affairs
- Analyst relations
- Pricing strategies
And what about her accomplishments? She’s had a few:
- Drove more than $840 million in revenue
- Led four worldwide campaign initiatives that produced measurable business impact
- Reversed five years of sales decline
- Improved field marketing contribution 72% YOY
- Enhanced digital marketing program to include SEM and SMM
- Restructured the entire global marketing team
- Improved brand visibility
And before joining McAfee, Baldwin worked for about three years at Yahoo as Senior VP responsible for global brand strategy and marketing.
Marketing Philosophy
Baldwin says she’s a “firm believer that marketing should be data-driven and consumer-led.” There might be a story there.
On the data-driven side of the house, it’s safe to say she doesn’t play guessing games. Baldwin looks at the analytics and makes informed decisions rather than relying on opinions, groupthink, or inherent biases.
Her consumer-led approach means she’s always on the lookout for what’s best for her customers. Undoubtedly, Baldwin tailors her marketing message to emphasize how her brand benefits people in specific market segments.
Oddly enough, plenty of digital marketers have forgotten those two core principles of effective marketing.
But not Penny Baldwin. And that’s why she’s so successful today.
