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138: Steve Lucas of Marketo discusses the ‘Engagement Economy’

This week on “Marketing Today,” Alan talks with Steve Lucas, the former CEO of Marketo, which was acquired by Adobe in 2018. Now, Lucas is senior vice president of digital experience with Adobe as he continues to lead Marketo as an Adobe company. In addition, Lucas is the author of “Engage to Win: A Blueprint for Success in the Engagement Economy.”

In talking about the Engagement Economy, Lucas details the importance of attention and how it is expended. “In particular, attention is absolutely a currency in the Engagement Economy,” says Lucas. “Because people, now more than ever, have a finite amount of attention to spend. No matter what you do – even if you never slept – you only have 24 hours of attention. It is a finite resource that we, as humans, have. So we have to carefully choose where we apply our attention.”

Lucas goes on to add, “And it is not just a belief, it’s an unequivocal assertion on my part, that people will spend that currency of attention on companies and brands that they believe align with their values.”

Alan will be attending the Adobe Summit, along with Steve Lucas, March 26-28 in Las Vegas, NV. Please reach out as they both would love to hear from listeners.

Highlights from this week’s “Marketing Today” podcast include:

  • Lucas traces the arc of his career and discusses his penchant for risk. (1:44)
  • Lucas talks about his new role at Adobe in the wake of the Marketo acquisition. (4:37)
  • “Engage to Win” – Lucas on the driving force and motivation behind writing his book. (6:10)
  • “A value-driven interaction over an extended period of time.” – Lucas reveals how he thinks about and defines engagement. (9:26)
  • For Lucas, attention is valuable currency in the Engagement Economy. (13:19)
  • Planting the flag: Lucas explains his passion for engagement. (15:16)
  • Lucas talks about service marketing. (23:18)
  • A diagnosis of Type-1 diabetes at the age of 24 was a defining and transformative experience for Lucas. (34:31)
  • Not waiting his turn: Lucas has a deep and burning desire to make a difference. (39:37)
  • “Nothing’s ever perfect.” – Why Lucas wishes he’d taken more risks earlier in his career. (43:51)
  • The future of marketing: Lucas talks about what’s already here and what’s right around the corner. (48:59)