Brand in the Boardroom

Issue 8: I’ve got some bad news for sales directors (and their managing directors). Most of your target market aren’t interested in what you have to sell. Well, not at the moment anyway. Most marketing activity is focused on driving sales TODAY, this WEEK, or this MONTH. And the success of most marketing activity is measured in the same time frame. But that’s not how (most) marketing works. And certainly not if you’re selling B2B. At any given time, only about 5% of potential B2B clients are actively seeking to buy, while the remaining 95% are not in the market. This could be because: - They have just bought an alternative. - They are bound by an existing contract. - What you sell is not part of their current plan. There is no opportunity to persuade / encourage / drive / motivate / educate / force / cajole these people in to buying from you. They are not interested. What you are selling is not relevant to them. You are wasting your time. Yet most marketing activity is trying to achiev...

Issue 6: Are you cutting your marketing budget? It seems like a lot of people are. But it’s not a good idea. Recent research by Gartner identified that the average spend on marketing, as a percentage of total revenue has fallen to 7.7%. Pre-Pandemic it was 11%. With profits being squeezed, cuts to the marketing budget can seem like an easy win. But there’s research - lots of research, with over a century of data - that indicates that, although cuts may have a short-term benefit, they can have a negative impact on sales that lasts for years. In 1927, Richard Vaile published research in the Harvard Business Review that highlighted the long-term impact of cutting advertising budget. During the Great Depression in 1920/21 firms that cut their marketing budget saw sales fall. No surprise there. But three years later, even when their marketing spend was increased, sales were still below their pre-Depression level. The short-term benefit had a long-term (negative) impact. Similar research in ...

Issue 6: This memo, written by Steve Jobs (when he was at NeXT), highlights his view on balancing company size with productivity. He wanted to ensure the "do-ers" could do what they do best. Your brand - the opinion people have of your company - is built on the quality of your product or service (the thing you "do"). Making sure you have the right people involved is fundamental in building your brand. Here's the transcript in full. ___ 17 March 1986 Our company is founded on the principal that a few good people can produce a tremendous product if they are not fettered by: a) having to convince a larger organization of what they know is right, and b) if they can devote their personal time to designing, marketing or what have you, rather than managing others to do these tasks less well. To stay true to this principal, I propose the following two ideas: 1) We all need time for uninterrupted individual work. Meetings (vendors, interviews,..) are eating into our ind...

Issue 6: Your business is only as good as the people you employ, and your brand has a significant role to play in recruiting and retaining your team. I was reading recently about a manufacturing business that provided housing for employees, as well as year-round activities for their children. In 2024, in a post-Covid economy, these benefits might not seem unusual. But this was all happening in 1879! In 1879, Cadbury began building Bournville, 'the factory in a garden’. With business booming, the Cadbury brothers needed to build a new factory, but wanted a different kind of industrial site. They wanted somewhere workers could live healthily alongside the factory. They found a site south of Birmingham, 14.5 acres with a stream, The Bourn. As well as housing and green space for employees, their children could enjoy a new playground, country outings and summer camps. In 1902, 30% of Cadbury’s capital expenditure was spent on workers’ welfare. In an age when how, where, and even why, we...

Issue 4: The Pandemic changed the way we work. Hybrid working become standard for many companies. Choice and flexibility was embraced by employees, and employers were (with some notable exceptions), usually happy to comply. But there are signs that this is changing. Boots recently declared that office-based staff will be expected to work from the office, five days a week, from September. CEO Seb James declared he had “no doubt” that the office is the best place to work. He’s not alone. In a survey by KPMG last year, 63% of UK CEOs predicted a full return to in-office working by 2026. Some research indicates that four in ten companies have already implemented this. The key factor in these decisions is often the negative impact of remote working on company culture. Boots CEO Seb James said, ““The informal conversations, brief catch-ups and ability to meet in groups in person has been far more effective – and better for our unique Boots culture – than the enforced formality of remote meet...

Issue 3: Your brand makes it easier for you to sell. Whether you sell a product or a service; sell online or off the shelf; sell to businesses or consumers; sell high value or high volume, your brand can make your sales process more efficient and more effective. Ultimately, your brand should simplify your sales process. But your sales process doesn’t exist in isolation. Your sales activity is built on a foundation that combines all the elements of your business: your products and services, your people and your marketing activity. The more effective each of the elements are, the easier it will be for you to sell. Your sales process is a bit like an iceberg. Your sales activity - and your sales team - are the tip of the iceberg. What people see. But below that, hidden beneath the surface, is the rest of your business. Everything else you do. The other functions. The other elements of your business, providing support. What will make these elements more effective is your brand strategy. Yo...