Scott Heron
July 20, 2020
What a great session with Teresa Sperti, founder of Arktic Fox (https://www.arkticfox.io/)
If you missed it.
Here is a recording of the session:
And here is a high-level summary of the key points:
Question: We know many marketers are increasingly struggling with how to focus on the relentless present and find time to define and execute towards a longer-term strategy– why do you think this is becoming such a challenge for marketers?
The context for marketing has been changing rapidly and these changes started well before COVID-19 hit.
The issue of juggling ‘Now and Next’ is one of the single biggest issues we hear from marketing leaders in industry – and it won’t go away anytime soon, in fact, its exacerbated by COVID in many industries.
We are living in an era of always-on change
Orgs are rapidly trying to evolve – they don’t have all the answers – learning as they go – which means we are operating on shifting grounds
With competition and disruption at an all time high – orgs need to differentiate – create new value – this is normally on top of keeping the day to day occurring. So marketers are challenged by this need to balance the needs of today whilst building for tomorrow – which creates a lot of tension and conflict for budget, resources etc.
Question: What are the key strategic initiatives that are high on the marketing agenda which have a longer-term focus?
There are a few – these will differ based on the org & remit of marketing. Some of the key ones include;
Question: One theme that cuts across strategic areas is ‘innovation’ – this is definitely a concern we hear where marketers don’t have time to innovate – what advice would you have for marketers in approaching innovation?
We often hear marketers are struggling to innovate and innovation is incremental at best.
First thing I would say is that that’s ok – innovation isn’t always about big bets it can be about continuous improvement. It’s an AND not an or.
BUT continuous improvement alone will not provide a step change in what you do and how you operate.
For those marketing depts struggling with innovation – it important to have an intention approach – one which combines continuous improvement with big bets and mid-range ideas.
You don’t need to have many big bets and mid-range ideas – choose 1 – 3 to go after for the year and combine this with your continuous improvement.
To help foster innovation;
Look at where innovation can be adopted within existing activities – rather than just new – that way it feels more palatable.
Make it intentional and reinforce its important – more likely to be addressed.
Celebrate innovation as it happens. The more they are celebrated for doing things, the more likely they are to do it again.
Pick the right ideas, not just the good ideas.
Question: What is the difference between the ‘right’ idea and a ‘good’ idea?
The right idea is right for the organisation – its culture, mission, objectives.
It has been validated in market through talking to customers, trialling through a pilot.
Question: One theme that cuts across strategic areas is ‘innovation’ – this is definitely a concern we hear where marketers don’t have time to innovate – what advice would you have for marketers in approaching innovation?
Measurement plays a really big role – how do you measure success as a team collectively and individually – if we are still only measuring success based on short term activity that’s where people will invest their energy.
It’s important that leaders model and reinforce what’s important to ensure the team remains on track. If leaders continually shift priorities – progress won’t be made. It takes a lot of discipline and focus to remain on track.
Set yourselves regular check-in points – are you making the progress you set out to – yes/no – if not how can you course correct?
How can you celebrate the wins based on the progress you are making – gives energy to keep tackling this.
Question: What gets measured, gets done’ – How should marketing teams and individual performance be evaluated as it relates to NOW and NEXT? For example – if it is on annual targets and bonus pools shared by the business rewards more NOW activities, that won’t necessarily help the business in the long term – like a public company chasing immediate gains in share price]
Marketing needs to deliver value and performance should be linked to company performance.
BUT some organisations might be very short term focussed and need to be taken on a journey in relation to longer-term initiatives and benefits of investment ie brand / CX, digital initiatives.
If the organisation doesn’t understand the benefits of these they are less likely to be KPIíng people on them. Marketing leaders should ensure that marketers KPIs are focussed on the things that matter which includes longer-term strategic initiatives – what is measured is managed.
Marketers need to influence the measurement framework. Educate leaders within the organisation on what the measurement framework should look like. When you have conversations around brand and brand investment, the Executive needs to be educated on the benefits of long term brand investment.
What is some specific advice you would give to a senior marketer that is struggling to find the focus on ‘NEXT’ because they are constantly bogged down in ‘NOW”?
Find the time for the future – 3 areas
Above these things – feel you are in control of things.
Knowing what to stop
Focus on what is in your control and start there, it is often more than what you think.
Marketers need to influence the measurement framework. Educate leaders within the organisation on what the measurement framework should look like. When you have conversations around brand and brand investment, the Executive needs to be educated on the benefits of long term brand investment.
Focus on what is in your control and start there, it is often more than what you think.
Question: What is some specific advice you would give to a senior marketer that is struggling to find the focus on ‘NEXT’ because they are constantly bogged down in ‘NOW”?
I would divide my advice into 3 areas: things to do for yourself, how to engage with the wider business, and how to make the marketing team work smarter:
1. What you need to do for yourself.
Give yourself permission to elevate out of the day to day and focus on the future.
Stop allowing the urgent to trump the important – think about how to more intentionally invest your time and energy – carving out dedicated space for the important stuff.
2. How you need to engage with the wider business
Lean on business stakeholders and ask them to help prioritise what is most important. Stakeholders need expectations managed. If you don’t make it a shared problem – it’s unlikely stakeholders will change their behaviour.
Maybe share the filter marketing is using to evaluate priorities – so other business stakeholders can potentially have applied the filter first
3. Defining how the marketing team works.
How can you create a clear lane to accelerate initiatives – do you carve out a role or part of a role to help you to do so?
Think about what you are going to stop to make way for what’s important
A lot of it is about mindset – focus on what is in your control and start there – it’s often more than you think.