Industry Specific Advice in a Time of Crisis from the Chief Outsiders CMOs
These are challenging times. The actions you take now and in the coming weeks will have a huge impact on what happens to your company, your customers and your employees. Some of the challenges we will face during this crisis will apply to all sectors, but some will be industry specific.
To help you decide where your focus should be, we assembled panels of Chief Marketing Officers from our Tribe at Chief Outsiders who have spent their careers working in your industry with companies like yours, to discuss what CEOs need to think about doing, right now.
The following summary encapsulates the highlights of our panel discussion for the Hospitality/Travel/Entertainment industry, hosted by Pete Hayes and featuring CMOs Deborah Fell and Adriana Lynch. For the full benefit, view the discussion video in its entirety (17 minutes). Short of time? See the discussion highlights (5 minutes).
Hospitality/Travel/Entertainment Industries Panel – Summary
This discussion covers critical tactics for communication, operational agility, executive behavior and how to plan for today with the future in mind.
Frequent, Honest Communication:
- Communicate with confidence that you care about your people and your customers
- Let your constituents know that you are still open for business, but be careful not to capitalize on the current situation
- Keep the tone of your content calm and appropriate – kid friendly, not confusing
- Remember that your customers are people first – engage with them at the level of the whole person
Operational Agility:
- Think about how you should conserve cash today. What should you stop doing? What do you need to start doing? In a mostly empty hotel, you can provide every guest with a VIP experience and create customers for life.
- Be willing to try new things and empower decision makers to move quickly.
- Schedule twice daily leadership calls to keep everyone informed of what is going on
Executive Behavior that Builds Trust:
- Set an example as a leader by talking to employees about how they feel and what they need personally. Show that you care and are willing to listen to build trust and encourage them to do the same with your customers.
- Use video calls when communicating so people can read your expressions and see that you are genuine.
- Recognize that some employees will be really nervous about what is happening. Be clear on what coverage they have and what support systems are in place for them to get help.
Plan for Today, Prepare for the Future:
- Plan now for what you will need to do to ramp back up when things get back to normal.
- Some of the tactical things you do to cope with the current situation may unveil new opportunities – keep an open mind
If you enjoyed this summary and would like to hear the full discussion, watch the video in its entirety (17 minutes), or the discussion highlights (5 minutes).
Host:
Pete Hayes, Principal & CMO, Chief Outsiders
Panelists:
Deborah Fell, Partner & CMO, Chief Outsiders
Adriana Lynch, Partner & CMO, Chief Outsiders