David Edelman shares insights on segment-of-one marketing and the complexity of marketing in today’s multi-channel, personalized segmentation.
A bit over 30 years ago, I published an early manifesto about the need to take Segment-of-One Marketing seriously. It was before the Internet, before smartphones, and just at the start of when advanced analytics were getting applied to consumer data. Yes, it does make me feel old. But while the examples from the article are now dated, the core precepts seem to be holding true. Marketing capabilities increasingly drive advantage. Great insights, creative ideas, and strategies are all crucial, but the long game depends on building the right marketing operations foundation to manage all of the data, execution, and translation of strategy down to the individual level.
Since then, if there is a common thread in technology, and especially marketing tech trends, it is that accelerated march towards a segment-of-one world — serving everyone, on their own personalized terms, at the right context in their decision journey, immediately, while getting better as you build more data from every interaction. In an effort to keep up with the consumer, competitive, and financial demands of making this happen, Marketers have built up their tech arsenals, hired new types of creative and design experts, and expanded their analytics teams.
But the race is far from over, and the cost of complexity from more data, more media possibilities, more personalized creative, and more technology layers, is relentlessly countering the promised lift from it all. And is it even possible to find and pay for all the added talent one needs?
Key points include:
- Bringing back balance
- Siloed marketing organizations
- AI and optimized marketing
Read the full article, Segment-of-One: Is the Complexity Out of Control?, on LinkedIn
Sean McCoy shares an older but always relevant post on why marketing departments need to align marketing spend with direction.
The CFO says to the CMO, “Let’s boost marketing spend by 1% this month. Where should we spend it?” The ability to answer that question is true north for Marketing departments in B2C industries.
With big data and analytics radically reshaping the marketing function, CMOs now have the power to answer the CFO’s question almost instantly down to the specific market, message, channel, and product. Today’s analytical tools also allow the CMO to state with accuracy the expected incremental sales and profit from that incremental marketing spend.
That level of analytical prowess and business intelligence is true north for marketing departments. From our experience helping B2C firms with marketing strategy and marketing analytics, some marketing departments are already there, but most are somewhere along the journey. When we look at how Marketing departments can create growth and value now, the immediate priority for many companies is to develop a robust Marketing Analytics capability.
For firms we have seen at the beginning of the Marketing Analytics journey, achieving true north by building a best-in-class ROMI (return on marketing investment) tool and acting on the initial insights improved their marketing effectiveness by 10-25%.
Knowing is half the battle
The first step in this journey is the recognition that the old ways of doing things are fading. The old adage that “half of my marketing spend is a waste. I just don’t know which half” doesn’t hold up today when consumers can be tracked through their digital customer journey and digital decision-making process.
The second step is to build out the systems and processes to measure customer acquisition and retention at a detailed level. The entire marketing and sales function, including vendors, agencies, and IT departments must work together to understand and measure the journey; from prospect, through lead and first purchase, and finally repeat business.
Key points include:
- Building systems and processes
- Consumer behaviors and expectations
- Tracking the customer journey
Read the full article, Marketing’s true north capability, on McCoyConsultingGroup.com.
Umbrex is pleased to welcome Casey Enders with Resolve, Inc. Casey has dedicated her career to advising leaders – including philanthropists and senior executives at Fortune 500 companies, large nonprofits, and the United Nations – on how to strategically evolve their organizations and teams to ensure their operations and people are positioned for the greatest impact.
Most recently, she led Unlocking Potential, a nonprofit established in 2017 and dedicated to expanding access to high-quality professional development in the social sector. Casey previously served as the Chief of Staff to philanthropist and financier Raymond G. Chambers, the Policy Director on Carly Fiorina’s 2016 presidential campaign, and an independent consultant for mission-driven businesses. She started her career at McKinsey & Company after earning a BA with High Honors from the University of Virginia.
She currently lives in Washington, DC, with her husband, daughter, and beagle.
Johannes Hoech shares a post that identifies five key components of a strong marketing message.
Digital marketing techniques, like “Account-Based Marketing,” for example, heavily depend on high-quality content that can draw a crowd. Now, to stand out from all the other marketing content from organizations trying to get attention also requires offering compelling thought leadership content with a differentiated point of view that highlights your advantages, but without degenerating into a sales pitch.
Prospects typically start their “customer journey” by browsing the web for answers to their problems want to be informed and persuaded, and in control of when and how they are being approached. Rarely do they want to be sold to the right off the bat? For example, when’s the last time you clicked on a LinkedIn ad in your feed or accepted an invite from a pop-up chat window?
Considering those challenges, how effective is your marketing message? Creating a marketing message that differentiates your company’s product and services is one of the hardest things you will have to do. But formulating a highly differentiated message is essential in beating your competition, successfully swaying analysts and influencers, and making your online presence more compelling. When done well, highly differentiated messaging will drive demand and increase your market share.
In this blog post, we’ll go over five key things your B2B cloud software startup should consider when creating a message that will be compelling enough to be effective.
Knowing What Your Company Stands For
Shared values build relationships and are the power behind purposeful action. Of the consumers surveyed by Harvard Business Review, 64% cited shared values as the primary reason to have a relationship with a company. This applies as much to B2B as it does to B2C and is the very essence of a strong brand. Before you even start creating your message, you need to know what your company stands for. Why? Because those values will reflect in your voice, your visuals, and your interaction with customers.
Key points include:
- Listen to Your Sales Team as if They Are Your Customer
- Search Your CRM Tool for Purchase Patterns
- Answer the “So What?”
Read the full article, 5 Things to Consider When Creating Killer Marketing Messaging, on MarqetU.com.
Umbrex is pleased to welcome Federico Di Franco. Federico spent six years at Bain & Co Brazil in commercial and marketing practices for consumer goods companies, airlines and automotive. He loves to create value and lead people in order to achieve their full potential and generate measurable benefits and great impact for companies and organizations.
Recognized for assessing operational needs and developing solutions to save costs, improve revenues, and drive commercial full potential initiatives, Federico is happy to collaborate on projects involving start up, operations and go to market positioning.
For everyone who has ever struggled with identifying a clear, concise, and compelling value proposition, Barry Horwitz shares an article that clarifies the issues and identifies the pitfalls.
In his book, Your Music and People, Derek Sivers addresses a problem faced by musicians: being asked to describe the kind of music they play.
Saying “all kinds,” doesn’t help. That, according to Sivers, is like saying, “I speak all languages.” Nor does claiming to be unique, since all musicians rely on “notes, instruments, beats, or words.”
A better approach, he advises, is to come up with an interesting phrase that will get people thinking. Something like, “We sound like the smell of fresh baked bread.”
Sivers wasn’t talking about “value propositions” per se. But he was making a related point — the way you describe your organization’s work can have a profound impact on both how well you are understood and how long you are remembered.
What is a Value Proposition?
A value proposition is a simple concept (maybe that’s why the really good ones are so rare). One definition I like is:
“A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you.”
Notice that it is fundamentally based on the customer’s perspective, something that distinguishes it from its sometimes jargony brethren, the vision statement, mission statement, and purpose statement.
What a Value Proposition Is Not…
… full of business or technical jargon — and simply descriptive:
Here’s an example a student submitted to me as stated by the CEO of the startup at which he was interning a few years ago:
[COMPANY] is a SaaS-based technology platform that leading organizations use to design, run, and measure positive impact programs, including, but not limited to, corporate culture, well-being, social impact, and sustainability.
In addition to the excessively formal phrasing (“including, but not limited to”), and the large number of buzzwords, this description is generic; it could be applied to all sorts of organizations serving any number of markets. It may capture how those inside the company think about their offer, but I doubt it connects with prospects, investors, and others on the outside.
… a list of features:
As the old business adage goes, people don’t want to buy a quarter-inch drill; they want a quarter-inch hole.
Likewise, people don’t select your product or service because of its features, but because it fulfills a need or solves a problem. Your value proposition should focus on that.
… a tag line:
While it is possible for a tag line to also work as a value proposition, these are the exceptions; in most cases, the two are not the same and serve different purposes.
Key points include:
- The music analogy
- Value propositions for nonprofits
- The tagline value proposition combo
Read the full article, Music that Sounds like Fresh-baked Bread, on HorwitzandCo.com.
Umbrex is pleased to welcome Rob Ristagno with Sterling Woods Group. Rob shows companies how to quickly and profitably grow sales with certainty by using a data-driven market segmentation methodology called Scout X. Now the CEO of the Sterling Woods Group, Ristagno began his career at McKinsey and served as a senior executive at several private equity-owned businesses, including America’s Test Kitchen and Homesite Insurance. He has helped companies big and small, including Visa, Pepsi, and Comcast. His work has been featured on ABC, CBS, FOX, NBC, Forbes, AdWeek, Digiday, and more.
Rob lives in West Hartford, CT, with his wife, Kate, two daughters, Helena and Emilia, and black lab, Royce.
James Black provides an update on how COVID-19 forced museums and cultural institutions to reshape how they interact with the public and still provide an engaging experience.
As the WSJ noted, “With galleries and museums closed due to Covid-19, online offerings blossomed—giving viewers the chance to experience outstanding exhibitions and masterpieces in a new, digital way.” (12/13/20).
From an analysis of the activities of 20+ institutions around the world, completed via desk research and interviews with various CEOs, board members, curators, and heads of advancement and marketing, among others, several themes emerged.
WHAT did museums and cultural institutions do during the shutdowns?
Covid made more institutions realize that live and digital programming are complementary, not competing. Many institutions built out online offerings; those with pre-existing platforms and capabilities had a distinct advantage in building engagement. Unsurprisingly, musical institutions may have had a head start in cultivating alternative channels (e.g., radio, digital, etc.) But museums quickly adapted to the new situation, expanding and intensifying their existing online activities. A number of smaller players, like the Frick in NY, were scrappy, driving creative executions, perhaps driven by their need to sustain visibility and raise funds.
Audience interest in programming was strong. As the Director of the National Gallery of Art in Washington DC noted, “Audiences are clearly hungry for diversion, learning, enjoyment, and connection during this crisis.”
SO WHAT did they learn from this experience and reapply as they reopened?
Key points include:
- Audience rewards
- Improvement of production value
- How to best reach and engage audiences in the “new normal.”
Umbrex is pleased to welcome Cecile Bernheim with S2E Partners. Cécile created S2E Partners consulting firm in 2014. She advises Boards, CEOs and executive teams of small and mid-cap companies on Strategy-to-Execution and Corporate Governance. Her action is guided by her conviction that “aligned strategy, disciplined execution and good governance lead to greater results”
Cecile put her deep understanding of consumers, customers and market dynamics at the service of her clients and delivers valued insights and recommendations.
Her professional experience prior to S2E Partners includes strategy consulting with Bain and Company as well as senior executive roles at Coca-Cola internationally in General Management, Strategy, Sales and Marketing and in Pharmaceutical Research and Development.
Jeffery Perry shares a post on how business must walk a fine line between delivering content through digital media and overstepping consumer privacy.
In the age of data analytics and digital marketing, businesses have grown in the ability to gain insights into consumer needs based on capturing their behavior and tendencies. Consumers want their preferences known and often freely share their information to get more personalized and tailored experiences. At the same time, consumers increasingly want their privacy. This paradox creates tension between businesses and consumers with underlying technology in the crosshairs. While data mining deepens consumer relationships, there is a rising tide of transparency and consumer awareness of how their data is captured, by whom, and how it is used.
We all can relate to people who visit health and wellness websites, looking for ways to remain healthy through exercise, nutrition, and a healthy lifestyle. Moments later, while scrolling through their Facebook feed, they are inundated with countless advertisements for exercise equipment, healthy foods, and athletic apparel. They also receive multiple emails about items left in their shopping carts, waiting for them to complete their purchases. Once they buy anything across these categories, they receive reminders to replenish the healthy food items, explore the latest fitness apparel, and expand accessories to complement their new workout equipment. While people may be irritated by being surrounded by these marketing messages, they get the specific equipment they prefer, the perfect apparel, and a curated nutritional plan that exactly meets their needs!
Key points include:
- Marketing messages
- The California Consumer Privacy Act
- Data permission
Read the full post, Consumer Paradox: Craving Preferences and Privacy, on leadmandates.com.
Umbrex is pleased to welcome Markus Gremmel. Markus runs his independent consulting and investment firm with focus on sales, marketing, sales partnerships, and development of business models. Markus has a deep industry expertise in cards, payments, consumer lending, and financial services in general, emanating from a variety of senior roles in banking: e.g., Chief Marketing Officer (CMO) at BAWAG Group, non-executive board member of a leading card issuer and ATM operator, board member of a niche bank in debt capital markets.
Markus is a strong problem solver with a renowned entrepreneurial spirit. He loves to develop and implment new business opportunities for his clients and himself. Markus enjoys living in Vienna. He is happy to support projects in EMEA
Jason George provides a riveting read on cost and value, cunning tactics, and strategies from behind the scenes of manufacturers and pricing models.
The choice of a mattress is fraught with implications, given how much of life is spent asleep and the infrequency of their purchase, not to mention the high price tag. Manufacturers are keenly aware of this and do their best to stoke the wallet-opening concerns of customers, using florid language to highlight coil counts or the latest in cushioning technology. Models receive names that evoke cruise ships or luxury sedans or vaguely European locales, and are further tagged with inscrutable indicators somehow related to quality.
Buyers are at a natural disadvantage as the innards of the product are invisible, leaving them to trust that the features advertised are present in the product and actually meaningful. Mattresses are difficult to transport and even harder to return, so the category does not lend itself to comparison shopping.
Behind the scenes, manufacturers have quietly consolidated and gained scale, rolling up the industry into a handful of mega-players, each with numerous offerings across the price spectrum. As the market matured these were increasingly sold in standalone shops dedicated solely to mattresses, featuring spartan décor, opaque pricing and a haggling experience not unlike that of a car dealership.
To top it off manufacturers adopted an especially cunning tactic to obscure costs and keep prices high. They created unique names for identical products and distributed them to exclusive sales outlets, ensuring that consumers would be unable to check prices at a competing store. Imagine if a Honda Accord was called by a different name at every dealership and you get the idea. Maximizing bewilderment and confusion led to a highly profitable business model for many years, such that mattress stores sprouted up across the United States, jammed into often marginal real estate.
Key points include:
- Transparent fixed pricing
- Profitability through complication and confusion
- Authenticity as a core value
Read the full article, Coercing customers or creating true value, on jasongeorge.net.
After those years, Eduard co-founded a fashion ecommerce startup. He exited the company after selling his equity to an industrial investor, and decided to travel the world for a while.
He is currently living in Andorra, working as an independent consultant doing strategy & marketing projects mainly in the fintech space. He also founded Antifragile Solutions, an advisory firm with a top talent network of freelance strategy consultants specialized in delivering projects globally.
Umbrex is pleased to welcome Valerie Warland with VW Management. Valerie is an independent non executive director based in Luxembourg, with a strong focus on alternative investment structures. She has more than 25 years of experience in the finance industry, where she enjoyed several strategic positions, like PMO director at Alter Domus, leading global alternative fund administrator, financial planning and analysis director at Paypal Europe, management information vice-president in the Dexia Banking Groupe.
She started her career as a strategy consultant with Bain & Company Benelux, Brussels. She graduated in 1995 with a master degree of the Solvay Business School, Brussels. She is married and has three dynamic children. She would be happy to help develop luxembourg based business.
David A. Fields shares a few key tips on promoting your services through a podcast in the best possible way.
Podcasts are (relatively) easy to produce, the barrier to entry is virtually zero, and they’ve become more popular than cabbage patch dolls in the 1980s. Should your consulting firm have a podcast? Probably. Can you leverage the podcast movement to your consulting firm’s advantage? Absolutely.
My consulting firm can trace a substantial portion of our revenues to podcasts. Your firm can enjoy this success too.*
Your consulting firm’s podcast strategy can be bifurcated based on your position: are you the host or are you a guest?
HOST – Use your consulting firm’s podcast to create deep relationships.
GUEST – Use partners’ podcasts to create broad interest in your consulting firm.
You’ll find that being a guest is a far easier, less expensive, more sustainable path to gaining clients for your consulting firm. So, for this article, let’s focus on being a guest!*
Promoting your consulting firm through guest appearances is easy:
Key points include:
- Finding partners
- Being a memorable guest
- Adding value for listeners
Read the full article, How To Promote Your Consulting Firm On Podcasts (Without Being Boring Or Annoying), on DavidAFields.com.
Umbrex is pleased to welcome Alun Thomas with Thema. Alun was with McKinsey’s London office from 1991-95. He joined the Firm as an experienced hire, having designed bits of Aero engines and run a battery factory on the edge of the Sahara desert. After consulting and profit responsible leadership in blue-chips, Alun focussed on helping early stage disruptive B2B businesses. Alun has returned to his roots in West Wales and is particularly interested in initiatives that contribute to the decarbonisation agenda and to the Welsh economy generally.
Umbrex is pleased to welcome Nigel Dews with GNG Partners in Growth. Nigel has experience in technology, finance, media, telecommunications, energy, FMCG and venture capital. This experience has spanned executive, board and consulting roles in both public and private companies. Nigel began his career as an Economist at the Reserve Bank of Australia before joining McKinsey & Company and working in Sydney, New York and London offices. Nigel has held leadership roles in many growth companies including as CEO of Fairfax Digital, 3 Mobile, Vodafone Australia, Message Media Group and UK based start up, Hue.
More recently, Nigel was a Partner and Director at Port Jackson Partners, a leading Australian boutique strategy firm founded by ex-McKinsey Partners. Nigel is also an Operating Partner with OneVentures, a leading Australian technology and healthcare venture capital firm with over A$500mil under management. Nigel and his business partner Graham Bougen established GNG Partners in Growth in late 2020 and are happy to collaborate on growth strategy consulting. We are based in Sydney and happy to work across Australia and New Zealand.
Umbrex is pleased to welcome Samantha O’Neill. Samantha is an independent consultant with expertise in Marketing, Digital strategy and Customer Experience. She was most recently the Chief Marketing Officer for Sun Life Canada where she ran a broad portfolio including Marketing, Customer strategy, the Digital properties (from the strategy through development), and the newly built Customer Experience capabilities.
Prior to Sun Life, she was with LoyaltyOne and ran their Analytics function, serving Air Miles’ Partners with advanced analytics to support their Marketing and Merchandising strategies. Before she joined LoyaltyOne, Samantha spent 7 years at McKinsey, serving Retailers and Financial Institutions. Samantha is also CPA (CA).
She lives in Toronto with her husband and 3 tween/teen children. She just recently returned to consulting and is looking to collaborate on projects in the Marketing, Digital and CX space though she also has extensive experience in Transformation and Change and in Insurance and Wealth.
Umbrex is pleased to welcome Piotr Bendykowski. Piotr has led and participated in over a hundred consulting projects at McKinsey, Accenture, KPMG and on his own. He has also spent over 10 years as CFO, CEO, board member and chairman of the board. His industry experience is wide, with most time in financial services and manufacturing. His specialty is rapid and radical improvement of key metrics, for example revenue and income. A strategy expert, he has also worked in finance, marketing, operations, and IT. Projects have taken him to the US (East Coast, West Coast and some in between) and Europe (Western, Eastern, Northern, and Central).
Piotr has an MBA from Stanford, Engineering BS from MIT, and an IB from Atlantic College in the UK. He is fluent in English and Polish and familiar with five other languages. Piotr lives near Warsaw, with his wife and son. He is a certified pilot, scuba diver, lifeguard, and sailor. He leads an active lifestyle: hiking, cycling, kayaking, swimming, skiing, mountaineering, sailing, riding horses. He has travelled through dozens of countries on all continents except Australia. Interested in history, art, books, politics, and nature.
Susan Meier shares an always-relevant post on storytelling that explains why brevity, honesty, and making it memorable are key components of a good story well told.
There’s a passage from the childhood classic One Fish Two Fish, Red Fish Blue Fish that I personally consider to be the best story ever told:
‘My hat is old, my teeth are gold.
I have a bird I like to hold.
My shoe is off, my foot is cold.
My shoe is off, my foot is cold.
I have a bird I like to hold.
My hat is old, my teeth are gold.
And now my story is all told.’
Good storytelling is a powerful thing. People don’t engage with products or data; they engage with stories. In the world of business, one of the best skills you can cultivate is how to tell a story well.
Here are 3 things that made Dr. Seuss such a captivating storyteller that you can add to your toolbox tomorrow:
Key tips include:
- Choosing five key points
- Finding the truth in the story
- How to use repetition
Read the full article, 3 Reasons Dr Seuss Was A Genius Storyteller (And How You Can Be Too), on ChangeCreator.com.
Johannes Hoech shares a practical post and instructional video that explains how to grow more lead generation enquiries with less budget using LinkedIn tools.
As a follow on to MarqetU’s recent blogs on low-cost lead generation approaches for B2B companies to re-start their sales pipelines, MarqetU’s CEO Johannes Hoech recorded this 7 minute instructional video below on how to use LinkedIn Navigator and 4 companion extensions to generate highly targeted leads.
The 4 extensions useful for leveraging LinkedIn Navigator’s wealth of high quality contact information featured Johannes’ video are Dux-Soup, LinkMatch, Sharetivity, and CrystalKnows. We have launched several new demand generation efforts using practical, high-velocity strategies such as these since the pandemic hit in March 2020 with good success and on rapid timelines.
These two graphics show a recent B2B lead generation effort where we hit the goals set by the company’s growth architecture within a few weeks of launch.
Key points include:
- How to use LinkedIn Navigator
- 4 companion extensions to generate highly targeted leads
- B2b sample pipeline ramp up
Read the full article, Grow more with less budget – Low $ demand gen with LinkedIn tools, on MarqetU.com.
In this comprehensive report, Angela Thompson shares marketing insights on Black Friday patterning.
Retailers’ promotions during Black Friday were significantly reduced this year; both in number of promotions offered and the richness of those offers
Retailers spread out their promotions for a longer period of time to reflect a lower in-store capacity and acknowledge a shift of consumer behavior driven by COVID-19. In order to provide a longer promotional time period, retailers were financially driven to reduce how high they discounted products
Further, with the expected increase of online orders, free shipping offers often required thresholds. 1/3 of the retailers offering free shipping required a minimum purchase; often around $50
Last year, more retailers shifted to a percentage reduction on specific styles or items (moving away from an entire store promotion viewed in 2018), and many followed a similar strategy in 2020. Select items were offered on promotion, frequently with a range of percentage discounts across the site, depending on the product or category
While mass retailers continued doorbusters, especially earlier in the holiday selling period, specialty retailers backed down from this strategy, as they mitigated their risk of selling low margin items online and while knowing that a drive to store push may not be as successful this year as in the past
GWP, PWP and PLCC messaging were also very low this year. Alternative financing options, such as Klarna and Affirm, were reinforced in direct marketing more frequently than observed in previous years
Retailers used their direct marketing communications to remind customers of BOPIS and curbside options. Few, however, capitalized on this method of pickup with an associated promotion for selecting this option over shipping.
Information in this report include:
- Key takeaways from 2020
- Observations by brand
Download the full report, 2020 Black Friday Patterning, from ThompsonMarketingConsulting.com.
Tommy Kim provides an article that explains how rethinking your brand can help you grow.
The picture of a Lockheed Martin F35 at the opening of this article sends a very clear message. It demonstrates power, pride, quality, stealth, and dominance. Similarly, throughout your life, you will craft a very clear, personal brand for yourself. A brand identity that you want people to identify you with and to remember you by. As you grow and thrive, you will deepen the relationship you have with your brand and it will not only become a reflection of who you are, but also the characteristic by which others will associate with you and everything you do. This includes where you were educated and what you learned from there and who you met along the way that made an impact in your life.
Then, where you went to work and what you learned, contributed, and achieved there.
What you do now matters as you build yourself up and begin maintaining strong relationships with those you meet along your path. Your reward as you do so is a stronger personal brand equity at each junction in your journey. Remember, even “Rome wasn’t built in a day.” Like this feat of this engineering marvel, your career will be built over a lifetime of dedication, incredible perseverance, and talent. From it, you will harvest fruit in the form of clearly defined identity and respect.
Key points in this article include:
- Building confidence
- Investing in growth
- Planning for progression
Read the full article, In Search of the Most Important Brand in Your Life, on LinkedIn.
Umbrex is pleased to welcome Bart Sichel with bps Captura. Bart is President of bps Captura, which provides independent advisory and consulting to corporate senior leaders, private equity firms, and boards across multiple consumer facing industries. Bart has hands on experience driving growth, and provides expertise in Marketing, Digital Transformation, Ecommerce, Innovation, Format Renewal, and Customer Loyalty.
Bart was Chief Marketing Officer at Burlington Stores, leading Marketing, Ecommerce, and Corporate Strategy, and he was part of the dedicated executive management team that turned the business around under private equity ownership, took the company public, and increased shareholder value over ten-fold.
Prior to Burlington, Bart was a Principal at McKinsey & Company where he co-led McKinsey’s North American Retail Marketing Practice among other leadership roles. Before McKinsey, Bart was involved in several startups, and was a Vice President at Chemical Bank. Bart also teaches graduate classes on the topic of leadership at NYU, and serves on the National Board of Directors for the Leukemia & Lymphoma Society.
Bart holds a B.A. in Economics from Vassar College, and an M.B.A. in Marketing and Finance from Columbia University.
Jayanth Krishnan provides an article that explains how the revised metrics of CLV2.0, inspired by jobs theory, reveals the limitations of customer lifetime value (CLV) metrics and provides better customer insight, consequently lowering your acquisition cost and creating demand.
CLV is a sound quantitative metric provided the data fed to it has a sound basis in customer’s fundamental approach to making choices. CLV2.0 is a revised metric inspired by Jobs theory, that addresses CLV’s limitations in addition to making growth and margin the lingua-franca of the whole organization.
Recap of the problem
CLV does not help you design or build a great product. It’s great for the nerds to crunch numbers and for C-suite to develop strategy. JTBD thinking is great to figure out customer needs, but it does not tell me which customer is valuable to the business.
We did the research
We went deep and researched the foundations of JTBD. We studied the behavioral psychology assumptions embedded in the theory. We studied the foundational ideas embedded in demand influencing theories and other alphabet soup theories surrounding the simple (but elegant idea) of Jobs.
We went meta. We looked at the philosophy of CLV, the different research streams into CLV including marketing science, finance, management science and what management strategy has to say on the topic. We realized that the foundations of customer lifetime value have long been forgotten in the frenzy that has followed big data/data science and computational prowess of contemporary Machine Learning (ML) methods.
Key points in this article include:
- The problem of biased data
- How JTBD theory addresses demand generation
- Who the formula helps
Read the full article, CLV.2.0 – Generating Demand, not Just Estimating Demand, on LinkedIn.
Umbrex is pleased to welcome Anthony Howe. Anthony has worked at three leading consultancies including McKinsey (strategy), AT Kearney (manufacturing/operations) and Accenture (Information Technology). After leaving consulting, Anthony joined the financial services industry, initially launching a corporate development team for the CEO of a private payments company and then progressing to leadership roles at Wachovia, Wells Fargo and, most recently, USAA.
In his most recent role as Head of Strategic Intelligence at USAA, Anthony managed three teams including corporate strategy, enterprise competitive intelligence and strategy analytics. Mr. Howe has the ability to integrate and coordinate complex transformation initiatives given his functional breadth spanning strategy, marketing, operations, information technology, data and analytics and corporate development. Anthony has only recently decided to pursue independent consulting after USAA necessarily turned its focus from growth to risk and compliance given the current regulatory environment.
When interviewed on the P is for Profit podcast, Susan Meier exposes the biggest myths about branding, identifies what a small business can do to establish its brand and create a competitive advantage, and explains how to make your business relevant to your target audience.
A visual artist is just a fancy way of saying, I make art, like, sketching, drawing, sculptures. And that’s what I studied in my undergrad, visual art and making art as well as art history. So it’s a little bit of a zigzag path from there to strategist, isn’t it? But the way I, the path that I took started out with management consulting, which was really just a leap of faith, first job out of college.
And okay, I’ll try something new that I don’t know anything about, but sounds pretty interesting. The way the company described it, I worked for the Boston Consulting Group which is, you know, a terrific company and they really gave me a great education. And the way they described what they did and the job that I would be having was like solving puzzles, which is something I like to do.
And in general, I guess I’m a curious person, I like to try new things. And so that was how I jumped off into a completely new world, much of which I was totally unprepared for. But like I said, it was a great learning experience. And where I came out of that, with this really strong interest in branding because I had the opportunity to do a lot of customer research as part of their consumer goods practice.
And I found it fascinating how people had these really intimate emotional connections with the products or the brands that they were using. And I wanted to learn more about that and get involved in that. And when I discovered that there was this whole discipline or industry called branding, which looked at that connection, that relationship between humans and brands and also have this visual component because, you know, an important component of expressing your brand is design. I thought, wow, that’s for me.
Points covered in this article include:
- How Susan defines brand
- Branding myths busted
- Small business branding
Listen to the full podcast, Susan Meier | Small Business Branding, on the CFO Project website.
Umbrex is pleased to welcome Ulrich Schumacher. Ulrich is an expert in CRM, CEM, e-commerce and marketing; especially in the B2B and B2C retail environment. To date, he has been able to successfully apply his skills in various renowned companies in consulting and line functions. Ulrich is able to lead and realign large marketing areas in a contemporary and future-oriented way.
Due to his extensive knowledge in the areas of on- and offline instruments, he achieved concrete marketing successes. He is familiar with the peculiarities of e-commerce sales channels, omni-channel marketing approaches and has a proven track record of building and expanding CRM programs profitably. Ulrich is happy to collaborate on projects involving CRM and marketing in Europe
Umbrex is pleased to welcome Stefan Faust with < F A U S T >. Stefan spent 2,5 years at McKinsey, as a generalist consultant, then became a partner at a leading communications consultancy. Followed by 15 years of experience in the banking / wealth management sector, focusing on strategy, programme management & coordination, transformation & change and marketing & communications.
He lives in Zurich / Switzerland and practices and teaches yoga and meditation. He is a certified coach and loves to work with people.
Currently he is taking an advanced training in “Business Sustainability Management” from University of Cambridge in order to move into this seminal area, increasingly relevant to all businesses.
Stefan is open to any project request which may fit his field of experience and also willing to travel.
Umbrex is pleased to welcome Sara Zanichelli. Sara has 10+ years of strategy consulting experience, as core member of Financial Services Practice at BCG and previously at Simon-Kucher & Partners (recognized as world leader in pricing consultancy). After BCG, she held managerial roles in ING Bank (innovative digital bank, agile pioneer), being responsible for customer value management (marketing, pricing, customer intelligence, complains) and later serving as tribe leader for lending products.
Sara spent the last 6 months in Qatar, working on digital strategy and transformation projects at Oliver Wyman. She is in the process of relocating to Singapore with her husband.
Sara is happy to collaborate on digital transformation and marketing projects.
Umbrex is pleased to welcome Kordt Griepenkerl with Med-Beratung. Kordt spent five years in the McKinsey healthcare practice in Germany and then worked in leadership positions for the medtech firms Biotronik and Trumpf Medical (now part of Hill-Rom). He covers a wide range of fields from operations to sales and marketing and extensive international experience. He and has been running his own consulting firm Med-Beratung UG since 2012.
Prior to McKinsey, Kordt obtained this PdD in theoretical physics. He lives in Reutlingen, South of Stuttgart, Germany.
In his spare time, he tries to improve this skill on his trombone and baritone horn as well as getting up to speed, running in the hills behind his house.
Kordt is happy to collaborate on projects in the healthcare industry.
James Black shares the third article in the series Seeing 20/20 in 2020. Each post shares steps to help brands and businesses improve their marketing strategies. This article focuses on marketing plans and capabilities.
To kick off the new year, I suggested “20 Questions to Help Your Brand or Business See 20/20 in 2020.” And what a year it has been already! No doubt, COVID-19 is leading many brands/businesses to revisit their marketing plans, but the logic here still applies. To help brands and businesses assess the state of the business and identify opportunities, I advocated taking a closer look at the topic of Customer Understanding (Part 1), and then turning attention to the Brand/Business Proposition and The Path to Purchase (Part 2). In this post (Part 3), I conclude the series by looking at Marketing Plans and Marketing Capabilities.
Points covered in this article include:
- Identifying objectives
- Evaluating tactics
- Success criteria
Read the full article, Seeing 20/20 in 2020: Part 3 – Marketing Plans and Capabilities, and access links to the series, on LinkedIn.
In this latest post from Robbie Kellman Baxter, she explains the difference between ad revenue and subscription revenue, subscription pricing, valuable content, and advertising in a subscription-based business.
I have always encouraged organizations to choose a lane when it comes to pricing. The power of subscriptions is that they are a good way to price when you’re solving the subscriber’s problem on an ongoing basis.
Subscription pricing aligns the goals of the reader with the ongoing goals of the organization. In advertising models, you might say that the readers are the product and the advertisers are the customers.
Doing both concurrently is problematic, because you’re trying to please two groups with different goals.
Advertisers want eyeballs. So the goal is to attract lots of viewers–maybe with a video about Kim Kardashian, or the day’s most sensational breaking news story.
In contrast, audience revenue is generated through content worth paying for. So it’s going to need to be differentiated content, and perceived of as being valuable, like an analysis of the bond market or the final match of a water polo tournament. It may attract a smaller, more committed audience.”
Included in this article:
- The move from cost per click to cost (CPC) per acquisition (CPA)
- The relationship between content and advertisements
Read the full article, Maybe the Secret to Advertising Is… Subscriptions?, on LinkedIn.
Umbrex is pleased to welcome Chris Moe with Cartograph. Chris Moe joined McKinsey in 2011 as a BA, focusing primarily on Sales & Marketing for B2C companies, across topics including pricing, digital pricing, and growth. After leaving to spend two years at a structured credit hedge fund in NYC, he returned to McKinsey and split between Marketing and Sales and work in Education, focused on University transformations. Chris co-founded Cartograph in 2018, an agency focused exclusively on Amazon consulting for emerging CPG brands.
Chris now lives in Austin, TX, and is always happy to talk Amazon, eCommerce, or CPG.
Jonathan Paisner shares his expert insights on branding in this new video series. This week, a 150-second overview of The Branded House vs. The House of Brands.
There is a little bit of brand in everything your business says and does. We’ve created this series to give you a little bit of brand thinking to inject into your business strategy, and help you make smarter decisions. So today, let’s spend the next 150 seconds talking about brand architecture.
Included in this video:
- Why brand architecture matters
- Building and extending relationships
- Portfolio flexibility
Watch the full video, #be150 – Brand Architecture 101, on Vimeo.
David Fields explains how to maximize the benefits of video conferencing by encouraging clients to give a testimonial. He provides five stellar tips, including questions to ask to ensure you make the most of the moment.
Your consulting firm’s prospects and clients are settling into the video call format. Other than the relationship-building advantages of video, has this newly-accepted communication medium ushered in any valuable opportunities for your consulting firm?
Video testimonials are where it’s at.
Any testimonial from a happy client builds credibility for your consulting firm.
However, since most people trust what they see more than what they read, videos of people earnestly extolling your consulting firm’s virtues pack a particularly powerful punch.
Also, clients who record testimonials for you are more likely to hire you again and recommend you.
The five tips include:
- Stage setting
- Directing the response
- Camera direction
Read the full article, 5 Pro Tips For Transforming A Lockdown Into Killer Testimonials on David’s website.
Umbrex is pleased to welcome Mika Malin. Mika has broad experience in line management and business development roles, as a senior executive and as a management consultant. He’s tackled complex board level as well as factory floor level business problems as a consultant at the BCG, in a boutique consulting firm and as an independent consultant.
Mika has a track record of successfully leading businesses and people with a P&L responsibility, as well as planning and executing strategy and M&A transactions in a publicly listed media company as a member of the corporate leadership team. He’s sharpened his marketing and sales skills in world-class fast moving consumer goods companies, in both local and international roles.
MBA from Harvard Business School has provided him with a solid foundation for strategic thinking, an analytical mindset to problem solving and a structured approach towards business issues.
Mika is analytical but action-oriented, he believes in concrete strategy and brilliant execution, he like to structure complex issues into actionable concepts, he take challenges seriously but want to have fun in the team.
Mika lives in Helsinki with his wife and daughter. In his spare time he runs the Harvard Club of Finland as the President of a non-profit organization of 120 members, and what ever spare time he has left, he spends in the hockey rink or on the golf course.
Mika’s geographic focus is in the Nordics and Europe, but will be happy to discuss relevant opportunities beyond these regions as well.
Umbrex is pleased to welcome Shubu Mitra with MarCaps. Shubu is COO of MarCaps and is dedicated to helping clients successfully apply industry leading frameworks, tools and processes to design a modern marketing organization and create a capability development plan. Prior to co-founding MarCaps LLC, Shubu led Agile Measurement to assist marketers measure, monitor and manage their online and offline marketing, advertising and promotion efforts using agile data-driven approaches.
Shubu was also Director of Connection Effectiveness and Productivity at The Coca-Cola Company where he led Coca-Cola’s global effort to improve the effectiveness of brand marketing communications and increase media productivity. He started his career as a consultant with McKinsey & Company and worked with several CPG clients on brand growth strategy and marketing spend effectiveness. Shubu looks forward to collaborating on projects requiring marketing organization design and capabilities planning
Umbrex is pleased to welcome Swan Sit. wan Sit is an independent consultant specializing in digital, marketing and strategy. Having spent the past decade of her career accelerating digital into legacy companies, she held two key roles as a Vice President at Nike — overseeing Global Digital Marketing during the Emmy-winning “Dream Crazy” campaign featuring Colin Kaepernick, and running Digital Operations, Product, Supply Chain and Service for a $2B ecommerce business during the Air Jordan 11 Concord launch, the largest in online history. She led digital at Revlon and Elizabeth Arden, using it to pull them out of a turnaround, and ran online strategy for the Esteé Lauder Companies, increasing its digital footprint to 400+ sites across 50 countries in 5 years. From modernizing hundred-year-old brands and partnering with unexpected influencers like Chelsea Handler, Iris Apfel and Gigi Gorgeous, to launching augmented reality makeovers and driving double-digit growth, Swan has demonstrated both the left- and right-brain skills required for a marketer that drives revenue. She was selected as a Brand Innovators 40 under 40 and Marketing Woman to Watch, and took home both Best Social Campaign and Best in Show at the Glossy Awards. You might recognize her as one of the faces in Twitter’s national “She Inspires Me” campaign during the Oscars, or from judging the world’s largest hackathon in Saudi Arabia alongside Steve Wozniak.
Prior to beauty, Swan was a management consultant at Bain, owned an ad agency focused on emotional branding, was a product manager at Newell (she launched a factory in China during SARS) and created infamous marketing campaigns at Trilogy Software during the dotcom boom. Swan graduated with a BA in Economics from Harvard and an MBA from Columbia.
Swan does speaking engagements around the world on Marketing, Digital Transformation and Leadership in the Digital Age. She is a Board Director of a publicly-traded pharmaceuticals company, advises a variety of businesses and sits on the boards of industry and philanthropic organizations including AdWeek’s Diversity and Inclusion Council, L2 Digital Think Tank, Women in Retail, Consumer Goods Technology Council, Impact Network, Foundation Rwanda and Worldview’s space think tank. Having traveled to 85+ countries, her favorites include Antarctica, North Korea, Mongolia, Rwanda, Bhutan, Myanmar and Tanzania for Kilimanjaro. She can often be found smashing a volleyball and chasing restaurant openings, or flying around on skis and horses – her two newest hobbies.
Umbrex is pleased to welcome Caroline Wooldridge. Caroline Wooldridge spent a few years at BCG after an MBA at Wharton. Since BCG, she has led operations at ~100 person start-up, and most recently spent a year in strategy & transformation work at WeWork. Prior to Wharton, she worked 7 years in marketing and media.
She has just left WeWork to begin independent consulting. Caroline has particular experience in transformation, operating models and org structure, strategic planning, board / funding material, marketing, product development, and customer satisfaction analysis. She lives in Brooklyn and is exploring opportunities in both New York and Los Angeles, as well as remote engagements.
Umbrex is pleased to welcome George Nahra with GZN Consulting. George spent four years in the Chicago office of McKinsey, in the retail and sales & marketing practices, serving predominantly retailers and other consumer-facing clients.
After leaving McKinsey, he spent several years as a Senior Management Associate at Bridgewater Associates. He then returned to retail, re-joining Abercrombie & Fitch (where he started his career several years earlier) and building the company’s first Strategic Planning function.
He then move to Chico’s FAS, a women’s apparel/accessories retailer with three principal brands: Chico’s, White House I Black Market, and Soma. At Chico’s FAS, George led Strategy, Business Development, and International.
George has been an independent consultant twice – once between working for Abercrombie and Chico’s, and most recently since roughly December 2019. He serves retailers across a wide range of topics.
George lives in Fort Myers, FL, with his wife and dog. He’d be happy to collaborate on any retail projects
Stephen Wunker explores the emotional connection in marketing and how this connection can be applied to Jobs to be Done to lay out pathways for creating targeted, meaningful, and relevant innovations.
The modern Mini Cooper—offered in a variety of eye-popping colors—burst onto the scene in 2001 as a chic version of an old British classic. It quickly became a fixture in trendy urban neighborhoods around the globe. Today, nearly twenty years later, the car still hasn’t lost its freshness: demand for Minis has remained robust with annual sales increasing at a steady pace of 5.2% per year.
On paper, the Mini doesn’t look like it should be such a break-out success. While its modest size makes it ideal for city living, other cars such as the Honda Fit or the Chevy Sonic are equally manageable in tight quarters. The Mini’s Comfort ratings in the Kelley Blue Book are tied with those of the VW Beetle and Toyota Yaris. Its gas mileage is no better than its competitors’, and sometimes it is worse. And with a sticker price that averages about $5,000 more than comparably sized rivals, the case for buying a Mini seems pretty weak.
The Mini’s surprising success comes from its unique, almost ineffable customer appeal. People just feel good about buying one.
Points covered in this article include:
- Figuring out emotions
- Quantifying emotional jobs
- The hierarchy of emotions
Read the full article, Measuring Emotional Jobs To Be Done, on the Branding Strategy Insider website.
James Black provides a comprehensive list of questions designed to help you build a marketing strategy that can help your business move forward in 2020.
Entering the New Year provides a great opportunity to take a quick audit of your brand or business to identify opportunity areas in your 1) customer understanding, 2) go to market strategy and 3) marketing capabilities. These 20 questions are designed as thought-starters to help you get a sense of the state of your business.
Areas covered by the questions include:
- Brand/Business proposition
- The path to purchase
- Marketing plans
- Marketing capabilities
Read the full article, 20 Questions to Help Your Brand or Business See 20/20 in 2020, on LinkedIn.