With the goal of harnessing the untapped potential of Iranian-Americans, and to build the capacity of the Iranian diaspora in effecting positive change in the U.S. and around the world, the Iranian Americans’ Contributions Project (IACP) has launched a series of interviews that explore the personal and professional backgrounds of prominent Iranian-Americans who have made seminal contributions to their fields of endeavour. We examine lives and journeys that have led to significant achievements in the worlds of science, technology, finance, medicine, law, the arts and numerous other endeavors. Our latest interviewee is Maryam Banikarim.
Maryam Banikarim is the global chief marketing officer at Hyatt Hotels Corporation where she is responsible for helping Hyatt become the most valued hospitality brand by driving loyalty and community among travelers. She is a force for change, recognized for her boundless curiosity, ability to build dynamic teams and forge powerful partnerships. Prior to joining Hyatt, Maryam was the first chief marketing officer at the Gannett Company, where she was responsible for national sales, company-wide marketing, communications and research. Previously, she was senior vice president at NBC Universal and chief marketing officer for Univision Communications, Inc.
Throughout her professional career, Maryam has served as a consultant for companies such as Deutsche Bank, Bacardi and Time Warner. She also worked at Turner Broadcasting, MacMillan Publishers, and was a lead team member for the launch of CitySearch, an early Internet start-up. Maryam began her career in account management at Young & Rubicam. Her achievements include multiple accolades: The New York Post’s “50 Most Powerful Women in NYC,” Fast Company’s “Fast Fifty” list of corporate trailblazers and trendsetters, Fast Company’s “Top 10 Disrupters,” Crain’s New York Business and Advertising Age’s “40 under 40,” Advertising Age’s “Women to Watch,” Fast Company’s “Most Creative People in Business 1000,” and Adweek’s “Changing the Game” list of advertising women of New York.
Tell our readers where you grew up and walk us through your background. How did your family and surroundings influence you in your formative years?
There are many labels that come to mind. Daughter. Oldest Child. Mother. Wife. Sister. Friend. Iranian. American. Global Citizen. Immigrant. Public Schooler. Private Schooler. Entrepreneur. Chief Marketing Officer.
I would say the common or defining element of my background is change. I was born in Iran and lived there until the Iranian revolution in 1979, before moving to Paris and then to the U.S. I had a lot of experience showing up as the new kid – situations that required me to either sink or swim and I learned early on that the best way to be happy was to dive in.
In junior high I landed in California and signed up for every after school activity there was – even bowling and softball, though I was terrible at both. But my lack of talent didn't deter me. I was determined to be part of something.
Going to college in New York City at Barnard was no different. My way of fitting in was to take as many classes in as many subjects as I could. I signed up for a zillion clubs. And I had an internship just about every semester – from working at CNN to the Brooklyn Academy of Music. I also spent semesters abroad, interning first in London for the Tory MP in Wimbledon, then for Mark Fisher, the Labor Shadow Minister for the Arts in London’s parliament; then in Paris as an intern for Paris Passion.
And right after college I moved to Buenos Aires, where I ended up as a production assistant on the set of the movie “Highlander II.”
Clearly I did not have a vision of what I wanted to do, so I tried just about everything. And I threw myself into whatever I was doing, as if that was the thing for me. How else was I going to find out?
How did your marketing career begin?
When I was in college, I wrote a travel column for the Barnard Bulletin. It was an insider's guide to different cities. This was at the same time that Gap was running their “Individuals of Style” campaign, which featured national celebrities wearing a classic white gap t-shirt. The campaign evolved and began showcasing more local celebrities. For example, in Manhattan the ad featured indie artist John Lurie.
My idea was to combine my insider travel column with their ad campaign – creating an “insider guide” to cities that could be distributed via Gap stores. Think of branded content before its time.
I mocked it up and sent it to Mickey Drexler, the legendary retailer who was president of Gap at the time. I didn’t really think much of it and just put it in the mail. To my surprise, he called and we met. While the guide never came to fruition – Mickey convinced me that I should pursue a career in marketing. To this day I joke with Mickey that he’s the reason I got started on this journey.
How does Hyatt differentiate itself from the competition?
Hyatt’s purpose – to care for people so they can be their best – is our differentiator. It is in our DNA – it’s who we’ve been all along and it defines what makes the Hyatt family special. In practice, our commitment to care is our North Star. It guides how we run our business, and how we interact with our guests, colleagues, owners and developers.
What is one of your core beliefs as a marketer that has been consistent throughout your career?
I believe you need to be laser-focused on the consumer, be willing to listen and then take action.
How would you describe the role of a Chief Marketing Officer (CMO)?
As a CMO my top priority is the same as my CEO’s: revenue growth. And from where I sit, achieving this requires a commitment to understanding, championing and engaging the consumer. In other words, my role is to keep the consumer at the center of our thinking. This is critical not only for creating loyalty, but also anticipating changes and seeing around corners to identify trends and new opportunities. Generating growth and profitability ultimately comes from listening, adapting and taking action to meet our customers’ needs.
What is your approach to managing risk?
Throughout my career, I have always operated with a high tolerance for risk. There are always obstacles, but you have to push past the fear. The way to do that is to hire and partner with people you trust, try multiple things at once and trust your instincts. Today I think we can all safely say that uncertainty is the norm. To succeed you have to push yourself out of your comfort zone, have a great team, be agile and keep adapting.
What are the biggest lessons you’ve learned? One big life lesson came from my teenage years when I dreamed of being a jazz dancer. I took as many ballet classes as I could and practiced for as many hours as the day allowed. I had all the passion I needed, but what I lacked was the talent! I was by far the worst ballet dancer in my class. But I wasn’t ashamed. I was determined.
Looking back, the highlight of my short but un-brilliant dance career came the day my instructor stood in front of the class to scold their lackluster effort by saying “If Maryam can do it, so can you!”
Those words really said it all – because I’ve learned that no matter where you are, how you got there or whether you think you belong, you have to be willing to “go all in.” Commitment helps put fear aside; it helps you see past the obstacles; it earns the respect of others, and ultimately it makes a difference.
What insight would you share with CMOs as they build smart, modern marketing strategies?
Great brands are built by passionate people. People who are dedicated, hardworking and willing to run at something. Your team is what will allow you to do things you haven’t done before, and get you to the next level. Hire people you trust. Bring in people that know more than you and challenge you. Align with people throughout the organization that are equally committed to the bigger picture. And don’t wait to put the perfect team in place.
Can you share your thoughts on your Iranian-American identity? What does it mean to be an Iranian-American to you?
These days I think it’s even more important to stand up for who you are – not just for yourself but for everyone else. I am proud of being Iranian. I am also proud of being an American. I think the similarities are greater than the differences. My parents, like other immigrants, and other parents, know and preach the value of education and hard work. There are so many accomplished Iranian-Americans here in the US today across a variety of industries, from technology and medicine to film and comedy. For me it’s a reminder that hard work pays off, and we all have talents to give.
What advice do you have for fellow Iranian-Americans?
I would give them the same advice I recently gave my daughter, Natasha, who will soon be heading off to college. I told her to have compassion and courage, to trust herself, to go for it and to remember that while it’s easy to be a pessimist, being positive will always take you further.