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Outsider Insights | You Can't Measure AI ROI If You Can't Measure Marketing ROI
Outsider Insights
Across Chief Outsiders, we talk to hundreds of CEOs every month. In this series, we explore the trends and challenges we’re hearing from these discussions – and what you can do if you’re facing the same issues in your business.
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.”
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.”
Being Ferdinand Magellan: Four Key Predictive Indicators for Forecasting Your Growth Trajectory
Tue, Nov 27, 2018 — If you know the real story of the first man to successfully circumnavigate the earth, you know that Ferdinand Magellan died 16 months before his mission was completed. Despite his devastating death while in battle in the Philippines, his crew fearlessly sailed on without him – and completed his quest. They succeeded because Captain Magellan took the time to put the right KPIs in place – and his leadership team was deeply involved in the management, course predictions, and execution of the mission. Since they knew the predictable trajectory and the foreseeable obstacles before them, they were confident in carrying on to the finish line without their leader. As a CMO, I consider it my duty to provide navigable guidelines for those who are wondering what the best business growth metrics are for tracking, measurement, and forecasting. While Magellan’s guys didn’t exactly employ the same metrics as the ones I’m about to show you, it will be a good start in confidently sailing the challenging seas of your business marketplace.
Are You Using Your KPIs Appropriately: Report Card or Predictive Data?
Fri, Oct 19, 2018 — Just a few weeks ago, I enjoyed yet another screening of the 1976 movie The Gumball Rally. If you’ve never seen it, it’s a slapstick satire about a wild and crazy cross-country race. The competition starts in New York City, with a goal to finish in the shortest amount of time. During the trek, a driver named Franco rips the review mirror off his windshield and dramatically announces the first rule of Italian driving: “What’s behind me is not important!” Even though I’ve heard this line plenty of times, I couldn’t help but chuckle. This belief is not only applicable to the business world – but appropriate when creating and measuring your company’s Key Performance Indicators (KPIs). According to Investopedia, a KPI is a set of measurable data that a company uses to gauge its performance over time. Examples include return on marketing investment, customer lifetime value (LTV), and customer acquisition cost (CAC). There are endless performance indicators you can use to measure your business goals.
The US Hispanic Consumer Cultural Evolution: You CAN Have Your Cake and Eat It Too
Tue, Sep 4, 2018 — Hispanics, or Latinos (which kindly includes my native country, Brazil, where we speak Portuguese), have been a strong influence in the US economy for decades. As an integral part of the workforce seeking the “American Dream”, more and more Latinos tried, as time went by, to “fit-in” to the American culture to succeed and achieve that Dream. Latino parents would only speak English with their kids, so they would fit-in in school. When American neighbors came to visit, they made sure to serve peanut butter and jelly sandwich for the kids and hot dogs for the adults (“keep the tamales in the fridge, Mi Amor!”). You get the picture. The process of trying to “fit-in” to an alien culture is called acculturation. It does not have much, if anything, to do with which generation you belong to, but it is a phenomenon statistically proven to be correlated with two major variables: How easily you flip-flop from your native language to the country language. In this case, how effortlessly a Latino goes back and forth between Spanish (or Portuguese) and English, and; How similar the purchase basket is of a Latino family or individual to an American one.
An Executive’s Guide to Using Video to Win Business and Influence Deals
Tue, Jul 17, 2018 — First in a 3-part series on Growing Revenue in the Digital Age. Video works. It’s a powerful way to tell stories, position products and engage viewers. Most importantly, video can directly help companies grow revenue, increase pipeline and build awareness. It appeals to both the rational and emotional ways we make decisions. It’s also a preferred way to consume content. Face it, no one wants to read long whitepapers any more. Mark Zuckerberg, Facebook CEO, recently said “Video is a mega trend, in a decade, video will look like as big a shift in the way we share and communicate as mobile has been.”
Supercharging Your SWOT, Step One: Consolidating Your SWOT
Wed, Jan 10, 2018 — Conducting your SWOT analysis was fun, wasn’t it? It allowed you to take a break from working in your business, and allowed you to work on your business — a valuable step back during which you were able to take a breather from the day-to-day grind, and view the big picture of your business with clarity. No matter how long your SWOT process lasted, undoubtedly, once you got rolling, the information flowed — resulting in a growing cavalcade of lists that characterized your company’s strengths, weaknesses, opportunities and threats.
CEOs: What’s your Competitor’s Plan to Win?
Wed, Oct 18, 2017 — Part 4 of Creating Sustainability for the Business “How could she not see this coming?” Look in the mirror. Armed with a strategic plan built on the foundation of purpose and stocked with customer insight, it’s now time to look closely at the competition. Learning how your competitors plan to defeat your strategy will fortify your plan to achieve long-term success.
CEOs: Go Deep for your Customers!
Mon, Aug 14, 2017 — Part 3 of Creating Sustainability for the Business A Sea of Sameness “So, what do you think of our website?” This was a new client—at my first on-site meeting with the CEO. “You have great product merchandising, well-written features and benefits. Could use some work on the ecommerce side,” I replied. “What I’m not clear on, though, is this, ‘Who is your customer, and how do you help them?’”