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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.
Pandemic Prowess: A Leadership Playbook for CEOs of Mid-Size Companies During Challenging Times
Thu, Sep 3, 2020 — Saying that leadership is a challenge right now is an understatement. From the global pandemic, to the recent civil unrest impacting business in a myriad of ways, to attempting to ensure your business is weathering the ensuing economic volatility, how can a CEO demonstrate the sure-handed, consistent approach stakeholders expect? Particularly when the playbook is being re-written daily? I turned to David Stark, known for his Executive coaching skills and level-headed approach to guiding CEOs and other leaders through difficult situations. Here are Dave’s Top 5 Leadership Actions that form a toolkit for navigating any crisis.
No Stakeholder Left Behind: A Quick Communication Guide for CEOs of Mid-Sized Companies to Use Now
Thu, Aug 27, 2020 — During any crisis, communication from a CEO drives perception of the company and serves as a source of guidance for multiple stakeholder groups. Done well, the content and delivery may impact how quickly an organization emerges. With the global pandemic an ongoing reality, and the added impact of a volatile economy, it’s a crucial time to think about the audiences who need to hear from you as conditions continue to evolve, as well as how and when you’ll communicate with them to achieve your desired outcome.
How to Right-Size your Marketing Budget and Get C-Suite Alignment – Part Two
Tue, Jul 7, 2020 — Part Two: Aligning Priorities and Spending with the CEO and CFO Part 1 of this article looked at best practices for determining optimal marketing spending levels. In part 2, we look at how marketing leaders need to align with the CEO and CFO on marketing spending priorities. To help answer this question, I’ve turned to marketing strategy and budget expert Peter Mahoney, CEO of Plannuh, Inc. Peter has decades of experience managing marketing teams, strategy and budgets, including managing a $150M annual budget at Nuance. Peter started Plannuh in 2017 to address the pain and suffering companies experience managing marketing budgets and plans with disconnected tools.
How to Right-Size your Marketing Budget and Get C-Suite Alignment
Tue, Jun 23, 2020 — Part One: Determining Optimal Spending Levels and Overcoming Key Challenges Marketing budgets make CEOs and CFOs uncomfortable. They often are large, have lots of complicated moving parts, and their impact can be hard to measure and attribute to marketing. Marketing budgets commonly range from low single digits to 15% of revenue (and even higher for companies undergoing rapid growth). And by the way, there is no one “right” benchmark for marketing budgets. In this two-part series, marketing strategy and budget expert Peter Mahoney and CMO Jeff Loeb will pull from their experience and share tips on right-sizing marketing budgets and preparing for challenges you may encounter.
Keys to COVID-19 Crisis Communications Success: Tips for Every CEO
Wed, Apr 22, 2020 — As the economic fallout from the COVID-19 pandemic continues to mount, the workforce remains ever fearful. With unemployment rising by the millions, and those still employed wondering if—or when—the other shoe may drop at your company, it’s never been more critical to be transparent. Right now, your employees are looking to you for the kind of leadership that will help them, and your company, get through the crisis.
What CEOs Should Look for in a B2B Manufacturing CMO
Wed, Apr 3, 2019 — In 25 years of marketing, I heard from industrial manufacturing teams—whether it’s a salesperson, business manager or CEO—that marketing is just for B2C. Industrial B2B businesses need nothing more than sales tools and support. So, it’s no surprise that many industrial businesses think that strategic marketing leaders only apply in B2C businesses—so they have not yet considered what strategic marketing can and should do for company growth. And they may not know what skills to look for when it comes time to hire a CMO or marketing manager. Are strategic marketing leaders needed in industrial environments? And, if so, what should industrial companies look for when selecting a CMO or Marketing Leader? To answer those questions, I’d like you to first consider what is similar and different between B2C and Industrial B2B Marketing.
CEO Growth Series: Challenge #2 - Working in Your Business Instead of on Your Business
Mon, Jan 21, 2019 — CEOs come in many different flavors… sales-oriented, product-focused, operations, finance, and other disciplines. Often, where you are most comfortable, and where you dive in deep is in the area of your own prior experience. With every company I have engaged with, I see this challenge: the CEO is so involved in the business and working in their comfort zone that they can’t see the wider perspective. They’re so in the business that they’re not working on it. Growth suffers as a result. Most CEOs are not aware of the problem. They’re just completing activities, like arranging chairs on the deck of the Titanic while the ship is sinking. It’s also hard to self-diagnose. And, you’re not going to hear about it from people on the inside. So, to be clear and as helpful as possible: If your business is not at least tracking with the industry growth rate, there’s a problem, and it’s with your company. It may be time to step back and work on your business.
CEO Growth Series: Challenge #1 - Lack of Focus
Wed, Jan 16, 2019 — Overcoming the most common impediment to business growth You can see it in their faces. The look of a tired or burned out entrepreneur with not enough time or resources to outrun the wave. Sound familiar? If you’re currently moving at 100 miles per hour and not accomplishing much, or you wonder if you are doing the right things, or you see lots of activity but not much in the way of results, you and your organization are probably suffering from a lack of focus. Lack of focus is the most common business problem standing in the way of growth and one of the hardest to resolve.
Building a Long-Lasting Relationship Between Hispanic Consumers and Your Business
Tue, Sep 18, 2018 — When a business looks at how to approach the U.S. Hispanic consumer, it is quite easy for it to rely on commonly known facts: Family is important to them, their households are larger, and they over-index usage of mobile devices to gather information and shop online. Let’s not forget that they love soccer – and are deeply religious. However, to develop the most meaningful connection, it’s essential to dig a little deeper than the obvious. The same analytical rigor and behavioral curiosity we apply to our core US consumer (also known as the general population) needs to be involved in studying the Hispanic consumer and how they relate to your category. First, we’ll begin with an examination of the data, then uncover insights to understand what truly matters to this exquisite target.