Wide Angle

While the English language is certainly a common denominator in the business world, assuming everyone speaks it is definitely ill-advised.  So how does a marketing team ensure its product materials are accurate in another language?  One executive poses this question in our recently-launched Marketing Org & Ops Forum, asking “What are the best practices in assessing the quality and correctness of translation service jobs?” Read More »

“The single biggest reason companies fail is that they overinvest in what is, as opposed to what might be.”

–Gary Hamel, Author and Professor, London Business School

Professor Hamel puts his finger on one of the most important undercurrents facing marketing leaders in large enterprises today.  As products, channels, and geographic markets proliferate, marketers will overweight to the familiar (that which “is” today), and fail to account for the size of future opportunity (that which “might be”).  Why?

They certainly won’t do so intentionally.  Rather, the sheer complexity of resource allocation decisions across geographies, products and channels will lead many marketers to settle for incremental changes to last year’s budget allocation.  In the face of overwhelming complexity, this will feel like the safe, smart choice. Read More »

If your company is like many others out there, the economic downturn resulted in you having to slash your training budgets, including most of the training efforts for your marketing organization.

The question is- can you afford not to invest in training your marketers?

These are the people that are developing your strategic marketing plans, writing messaging that meets your target market needs, choosing the initiatives that will have the best ROI while meeting your brand goals, and so much more.  It is more than a little unnerving to know that while they handle such critical tasks, 2/3rds of them actually don’t have a marketing background, as shown in a survey of 65,000 marketers by the Marketing Excellence Survey. Read More »

(Note: This is Part 4 of our 6-part series on marketing planning. Part 1, “Making the Case for Higher Spend“,  can be found here. Part 2, “Selecting Metrics“, can be found here. Part 3, “Marketers Squeezing Productivity“, can be found here. Check back here every Wednesday in August and September for a new installment!)

As you’re preparing for another year of marketing planning, ask yourself these three questions:

• Do our marketing plans reflect our company’s overall strategic objectives?
• Are our marketing plans based primarily on incremental changes to last year’s activities?
• Even if we know that marketing is making progress, can we tie our activities to business objectives?

We all know what the answers here should be, but how many of us actually get it right? Read More »

On Monday, Fortune came out with a long, in-depth piece on the success of Trader Joe’s – the wildly popular small gourmet grocery store. The chain, owned by German grocery conglomerate Aldi, has experienced dynamite growth in the last 15 years, expanding from its base in Southern California to over 200 stores nationwide. Their sales numbers ($8 billion in 2009) are similar to those of semi-competitor Whole Foods, and their sales per square foot are an estimated $1,750, more than double those of Whole Foods.

Fortune spends a lot of ink (or pixels, I suppose) analyzing aspects of Trader Joe’s success. It’s a good article, but what has made TJ’s such a cultural phenomenon isn’t too difficult to discern. I’d separate it into a few key buckets: Read More »

What are the limits of the Nature vs Nurture debate?  Was I really a St. Louis Cardinals fan at birth?  (of course).  One friend of mine seems predisposed towards the Jersey Shore.  Is it in her nature?  (well, she is from New Jersey).

I’ve even heard echoes of the debate when members refer to their employers:

“It’s our nature to follow very specific processes”

“Our culture hasn’t changed in 85 years”

“Our leadership believes that our go-to-market strategy from 2002 is still relevant”

“Our brand personality mirrors one thing: our company’s history”

In other words, some members claim that Nature trumps Nurture.  That the innate qualities of a firm’s culture, leadership, brand personality and politics (Nature) eclipse the impact of externalities and experiences (Nurture). Read More »

Often times in an organizational structure, the approval chain of command can be quite unclear.  Logically, the CEO would make all the executive decisions, and the CMO would sign off on all marketing decisions.  But is it really efficient or even necessary for the big cheese to approve everything the company makes in his or her respected department?  Seeing as there are more than likely bigger fish to fry, it probably isn’t. 

Questions about organization structure are very popular in our recently-launched Marketing Org & Ops Forum, where one executive question asks, “What type of communications get what type of approval?”

Read More »

(Note: This is Part 3 of our 6-part series on marketing planning. Part 1, “Making the Case for Higher Spend“,  can be found here. Part 2, “Selecting Metrics“, can be found here.  Check back here every Wednesday in August and September for a new installment!)

Early results from the Council’s ongoing marketing budget and spend survey suggest that Marketers are (understandably) cautious as they look ahead to 2011.  With the cooldown in businesses re-stocking their inventories and consumers continuing to keep pursestrings drawn tight, budgets appear to be flat to marginally up. Read More »

The US is in a kind of tough place right now. Let’s see: unemployment is hovering around 10%, not only idling millions of workers but keeping millions more stuck in jobs they don’t like; it’s shaping up to be the hottest summer on record in many parts of the country; and, to top it all off, traffic is getting worse as local governments run out of money to invest in public transit and new roads. Add these (and many, many other) factors up, and it’s no secret why your average American is a little on edge these days.

So when JetBlue flight attendant Steven Slater made a dramatic exit from his job on Tuesday, delivering an expletive-laced tirade to passengers over the intercom before grabbing a beer from the service cart and sliding down the plane’s emergency chute, it wasn’t surprising when he became something of a cause celebre. A Facebook fan group established after the news broke on Tuesday now has nearly 200,000 fans, and there’s talk of a legal defense fund (Slater was cited for public endangerment). Slater has been hounded by reporters and paparazzi since being released on bond, and his relatives have made the talk-show rounds. Read More »

(Note: This is Part 2 of a 4-part series on marketing planning. Part 1, “Making the Case for Higher Spend“,  can be found here. Check back here every Wednesday in August for a new installment!)

B2B marketing organizations today are emphasizing the transfer of ideas to customers (just consider the rise of terms like “thought leadership”, “consultative selling” or “solutions”).  This makes sense – done right, an insight-based approach is one of the few ways suppliers can avert pure price-based competition. Additionally, our research shows that insight is valued by customers in the long term.  “Teaching” activities such as offering unique perspectives on the market or helping the customer navigate alternatives strongly predict loyalty.

It follows that marketing plans this year should have a strong insight orientation.  Naturally the marketing plan will align to broader organizational strategy, but the marketing objectives that support company strategy should be grounded in delivering insight that changes customers’ valuation of your offering. Read More »