May 17, 2020
When people are thrust into conflict, everyone reacts differently (i.e., fight or flight). But, there are two very human things we all do during times of uncertainty:
And there’s nothing wrong with this response. In fact, if I were to give you any advice for navigating our current crisis, it would be this: Embrace the familiar – and lean into the unfamiliar.
For me, that means:
What advice would you give other marketers? How are you learning from the past to lead today? And how are you – yes, you – coping? Feel free to send me a note on LinkedIn, tweet to @triciagellman, or reply to this email.
Now, here’s what I’m reading 👇
250 CMOs (including yours truly) were asked what their response to the current crisis looks like. Over 73% said they were increasing their marketing activities, but placing their bets in different areas. More than 50% said client retention was a primary focus. Many advised that future planning is still critical.
My favorite piece of advice came from former Apple CEO John Sculley:
“Creative, bold ideas…enable marketers to find success – despite economic burdens.”
Even with marketing’s most recent need to pivot, the CMO’s responsibilities have always been a topic for debate. And there’s a good reason: the role varies business-to-business. Check out the other myths CMSWire busted in their article:
The disconnect between marketing and finance comes down to a misunderstanding of value. There’s no denying that the marketing budget is one of the largest expenditures in a business. It’s on marketing leaders to communicate the value marketing brings to the larger business strategy.
Remember, CFOs are being tested right now to help companies weather this recession. If your top finance leader doesn’t clearly see marketing as a source of demand and growth, they’ll be hesitant to keep investing. Now is the time for marketing to define itself as a revenue and growth driver.
Drift CEO David Cancel has taken on the role of wartime CEO more than once – from the dot com crash of the 2000’s to the 2008 financial crisis.
In this Inc. article, he discusses how those events are shaping his response now, and what advice he would give other business leaders. It’s a great read, but I’ll leave you with one quote that feels especially relevant during these times:
“I’ve concluded that 99 percent of what makes businesses successful comes down to people. During these uncertain times, you need to take care of your people — both employees and customers.”
See you next month,
(P.S. It’s okay to seek out good news. I’ve been following John Krasinski’s SGN myself. Get ready to laugh.)
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