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Beth Somplatsky-Martori
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Recent Posts
AI Strategy for Financial Services CEOs: Why “Good Enough” is no Longer Enough
AI in financial services has moved from lofty claims about AI's use to being at the center of the growth conversation, shaping how you compete, run, and stay trusted. Margins are under pressure as customers benchmark you against their best digital experiences, whether they are opening a checking account, redeeming loyalty points, disputing a card charge, or seeking hardship help.
Why You Should Spend More Time Evaluating Your Pricing
Thu, Aug 13, 2015 — In the end, there are three avenues to increasing your profit margins: cost, sales volume and price. In our experience, companies tend to focus on the first two, costs and sales, at the expense of the third, price. There are good reasons for this: any company that is competitive over the long term is very good at managing costs, continually measuring and reducing costs over time, and they have invested in elaborate processes and technologies just to stay in the game. Similarly, companies know their sales histories and are comfortable forecasting sales revenue, with a fair degree of precision, with mathematical models that have withstood the test of time.
What Giraffes can Teach You about Building a Strategic Growth Plan
Thu, Jul 23, 2015 — A funny thing happened as animal beings evolved over the past several billion years – one such beast was bestowed with the ability to get a bird’s eye view of all it surveyed – while staying firmly planted on the ground. The giraffe can grow up to 18 feet high, with nearly half of that height accounted for with a neck and head. The giraffe, rightfully so, is often chosen symbolize taking in the big picture, communication and gracefulness. This, my friends, is why you will understand when I say you need to roadmap like a GIRAFFE – visualizing your organization from a broad view before fabricating the details of its long-term strategic direction.
Your 2020 Vision Is Now A Five-Year Plan
Wed, Jun 24, 2015 — For those who have been disciples of futurist Arthur C. Clarke, it’s quaint to look back at his prescient interviews of a half-century ago, and try to imagine how he could possibly pinpoint conventions like the internet, instant messaging and even the way we as a society would interact. Even just two decades ago, the year 2020 still seemed a destination so distant, that it was difficult for many to bring into focus a realistic vision of what it could be. But author John Kotter, in his 1996 book, Leading Change, said, “The rate of change is not going to slow down anytime soon. If anything, competition in most industries will probably speed up even more in the next few decades."
2 Eye-Opening Reasons that Sales and Marketing Need to Work Together - and 3 Ways to Get Started Now
Thu, Oct 23, 2014 — Today, customers expect to be marketed to in the right place, at the right time, with the right message. If just one of those things is off, your content is at risk of getting deleted, or worse, being marked forever as “spam.“ A key to giving your audience the messaging they want to hear, when they want to hear it, is having marketing and sales teams that work together instead of independently. Sales and marketing alignment is now more important than ever because:
Special Challenges for the Family Business: Scale, Skills and Succession
Wed, Oct 1, 2014 — Second in a Two-Part Blog Series If you are an ardent reader of business news, it was hard to escape the sordid tales this past year of the epic battle over family-owned Massachusetts-based grocer Market Basket. It was cousin against cousin as Arthur S. Demoulas, who gained control of the board of the $1.6 billion company, ousted popular CEO Arthur T. Demoulas – causing an outcry that alienated consumers, rallied employees and nearly destroyed the business. Only through a highly-leveraged buyout – and the restoration of “Arthur T.” to the C-suite – did Market Basket ensure its survival – at least, for now.
Unique Advantages of the Family Business: Taking the Long View
Tue, Sep 30, 2014 — Oftentimes, the family is but a supporting player on the entrepreneurial journey. But in many cases, generations of family members have been integral in the past and ongoing operation. This can add an extra dimension to business growth that can, if managed appropriately, give your business unique staying power and a strong foundation for a lasting enterprise to be enjoyed by future generations.