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What Is Marketing, Really? Why Founders and CEOs Must Lead the Most Misunderstood Function in the Business
This blog is part of Chief Outsiders’ Marketing Leadership for CEOs series, an ongoing examination of the critical dimensions of Marketing (the capital “M” is intentional, as you’ll see) that every CEO needs to understand.
Finding the Sweet Spot in B2B Markets
Fri, May 1, 2020 — Narrowing Focus to Drive Demand In a prior blog post, I discussed how a lack of market focus can lead to poor marketing campaign conversion rates.
Can Your Business Thrive Despite Changes in the Economy? Part 2
Wed, Feb 26, 2020 — Time to Hide or Double Down? Riding the 2020 Wave Establishing order in the midst of chaos can be most elusive, wouldn’t you agree? Just ask poor Chip Diller, the do-gooder ROTC cadet portrayed by Kevin Bacon in the seminal college movie classic, “Animal House.” Surrounded by fleeing masses in a parade gone wrong, and about to be bulldozed by a stampeding crowd, Diller thrusts out his hands and, gathering as much gravitas as possible, shouts, “Remain calm. All is well!” before he’s swarmed by the crowd and trampled into a facsimile of “Flat Stanley.”
Diversity Drives Innovation, Growth and the Bottom Line
Tue, Oct 22, 2019 — By Yvonne Brown and Tom McCrary Diversity is increasingly on our minds. Indeed, US census data indicates that our population is becoming more diverse, estimating that by 2042, whites will no longer be a majority of the population. An important business corollary—and a significant opportunity—is that diversity in an organization drives innovation, growth and bottom-line improvement.
Finding ‘Grand Slam’ Clients Using an Ideal Client Profile to Build Your Business
Mon, Oct 14, 2019 — A Practical Implementation Guide for Small- and Mid-Sized Business Executives Mark Coronna, Area Managing Partner & CMO, Chief Outsiders with Todd Eberhardt, CEO, Dynasty Leadership Consulting Somewhere in the historical development of Marketing language the concept of an Ideal Customer Profile emerged. You can find frequent discussion of this concept if you are reading marketing blogs today—it is definitely a “buzz” term, and legitimately so, if you understand the power of the concept and apply it to your customer acquisition programs. We’d like to discuss how to practically implement the concept of an Ideal Customer Profile and talk about why it’s important, as well as how it can dramatically impact your business, when applied to your Marketing and Sales programs.
Why a “Failure to Communicate” is a First Step to Going Out of Business
Wed, Sep 25, 2019 — What Business Execs Can Learn About the Power of Authentic Conversations Mark Coronna, Area Managing Partner & CMO, Chief Outsiders with Matt McKnight, President, McKnight Advisors If you’ve ever seen the Paul Newman movie Cool Hand Luke, you might remember the hard-boiled egg eating contest, but that’s another subject. The iconic line we all remember, after several failed attempts to bring Luke in line, is when the prison warden remarks, “What we have here is a failure to communicate.” Knowledge, open communications, as well as procrastination are highly linked to business performance. Having hands-on and personal real-time knowledge of what’s going on in your business is a challenge and having the confidence and willingness to do something about what you’ve learned is another.
The Millennial Food Shift: How CPG Food Companies Can Rescue Their Market
Wed, Aug 28, 2019 — Never before has the kitchen been so lifeless. For generations, the once-centerpiece of the American home has become much less important – marginalized by Millennials and younger generations who choose to order up their nourishment with a few silent taps of the cell phone rather than the clank of pots and pans. Seemingly overnight, this phase shift in eating habits has roiled the business models of food-oriented consumer packaged goods (CPG) companies. They can no longer count on being a key ingredient in the daily lives of today’s consumer. So how did this happen? And what can CPG companies—and the grocery stores that peddle their wares—do to regain mindshare in the public consciousness?
How to Generate Winning Results with PAC
Wed, Jun 19, 2019 — Most of us have heard of the Five P’s of Marketing (Product, Price, Promotion, Place and People) and how getting those right is essential for success. Certainly, all of these have a role and are important, but for small to mid-sized companies, experience shows that PAC is the biggest driver of success. These are: Product Audience Communications Executing well on PAC provides your business with focus and a market-informed approach. The PAC mindset creates a differentiated product and an activating message that reaches those most likely to buy. Consistent revenue and profit growth naturally follow.
A More Perfect Union: Four Keys to Credit Union Profitability
Thu, May 16, 2019 — U.S. credit unions are in crisis. For years, buoyed by a “hometown banking” distinction and bolstered by government regulations allowing for the expansion of their membership ranks, credit unions enjoyed unprecedented growth. In fact, just two years after President Clinton signed the 1998 Credit Union Membership Access Act, more than 10,000 credit unions dotted the landscape. But then, the technological age arrived in its full fury, delivering tools and benefits that traditional banks used to restore their edge. Though credit unions enjoyed a higher level of customer satisfaction, they were not as keen to what their customers and members were needing. This allowed the traditional banks to use enhanced technologies to raise the customer expectations bar—and close the gap.
When the Economy Turns Down, Will Your Company Be Ready? A 10-Step Practical Guide to Preparing Your Go-to-Market Program
Thu, May 9, 2019 — John C. Maxwell, the American author, speaker, and pastor who has written many books on leadership has a wonderful quote about growth that says: “Change is inevitable, growth is optional.” There may be another version of this we should be paying attention to, and I think that version is: “Change is inevitable, so is an economic slowdown.” With the long economic growth we have been experiencing sometimes it’s challenging to remember that we will not always have the economic tailwinds that have been boosting us along. The most recent ITR Trends Report (April, 2019) continues to forecast a cyclical market slowdown. Their latest report states that “The U.S. economy has moved a little deeper on the backside of the business cycle….and the shift in momentum and outcome will feel more pronounced the further we go in 2019. Our analysis continues to point to a probable first-half-2020 bottom for this business cycle.”