The Practical CMO

Unique markets have different levels of Marketing maturity, use different ways of going to market, have different metrics of success, and view the role of Marketing in their organizations quite differently. Sometimes, it’s too easy to get too focused on what you have traditionally done in Marketing, and also a challenge to look outside your unique market for best practices in other markets which you might adopt. In today’s program, we are going to do a deep dive into the Healthcare market, and do a temperature check on its overall health and growth prospects. We will also characterize organizations in this sector—and try to highlight best practices inside the market, but also identify best practices from other markets which might be beneficial to a Healthcare marketer. ----more---- My guest today is Deborah Fell, Area Managing Partner and CMO at Chief Outsiders. Deborah is an excellent colleague who has brought strategic marketing and dramatic improvements in Marketing programs and performance to her clients. Deborah has worked with healthcare clients in the insurance, mobile clinic, and senior living markets. You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Deborah Fell, Area Managing Partner & CMO, Chief Outsiders dsfell@chiefoutsiders.com https://thepracticalcmo.com/ep-26-whats-goin…thcare-marketing/

Unique markets have different levels of Marketing maturity, use different ways of going to market, have different metrics of success, and view the role of Marketing in their businesses quite differently. Sometimes, it’s too easy to get too focused on what you have traditionally done in Marketing, and also a challenge to look outside your unique market for best practices in other markets which you might adopt. In today’s program, we are going to do a deep dive on the industrial businesses, and do a temperature check on their overall health and growth prospects. We will also characterize businesses in this sector—and try to highlight best practices inside the market, but also identify best practices from other markets which might be beneficial to an industrial marketer. My guest today is Kimberly Miller, a colleague from Chief Outsiders who has spent the better part of her career in Marketing roles in industrial companies. We'll tap into Kimberly’s industry insights as we look to offer practical guidance. ----more---- Today’s Participants: You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Kimberly Miller, CMO, Chief Outsiders kmiller@chiefoutsiders.com https://thepracticalcmo.com/ep-25-whats-goin…strial-marketing/ Kimberly is an industrial marketer with operations and engineering in her DNA. Working with engineering or operational lead manufacturers, she brings the marketing strength that fuels growth by developing strategies with input and buy-in from not only customers but internal groups. As a result, her clients align their teams, implement a shared strategy, and achieve their revenue and profit goals.

The value proposition of most businesses is based on what they do well. In many cases, focusing on what the company does--the products they make or the services they offer--is neither differentiating nor compelling. Even more problematic, many value propositions do not offer clear benefits to the problems and challenges their customers face. In this podcast, we will discuss creating value propositions on the “how” businesses create value instead of “what” they do. Codifying, packaging, and branding a company’s service components can often deliver a message which is more compelling and differentiating. And what’s more, codifying the way customers are serviced is a great way to integrate operations, sales, and marketing. ----more---- Today’s Participants: You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Dennis Bailen, Partner & CMO, Chief Outsiders dbailen@chiefoutsiders.com https://thepracticalcmo.com/ep-24-brand-the-how-not-the-what/

This podcast is a very unusual but realistic view of what Marketing does well and what it doesn’t do well. You’ve been promised big results with a quick turnaround. You’ve been told that social media is a silver bullet for increased sales (so far, you haven’t seen an impact). Your marketing team and vendors have overpromised and underdelivered, and you’re disappointed. You’re frustrated. Perhaps you’re close to giving up on marketing entirely, but something tells you that you shouldn’t—you just need to know how to use it wisely. In Lies, Damned Lies, and Marketing, Atul Minocha reveals the root causes of your frustration and provides you with the insight you need to utilize your marketing dollars for real results. ----more---- Today’s Participants: You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Atul Minocha, Partner& CMO, Chief Outsiders aminocha@chiefoutsiders.com Atul Minocha | LinkedIn https://thepracticalcmo.com/ep-23-lies-damne…es-and-marketing/ Related Resources Amazon.com: Lies, Damned Lies, and Marketing: Separate Fact from Fiction and Drive Growth

This podcast offers a practical guide about how you can use the Intellectual Property (IP) you already have in your business to enhance your revenues and profits, create more competitive differentiation, make your business more attractive to business partners, and enhance your exit value. Intellectual Property is a largely unexplored business opportunity for SMBs due to a series of myths. We are going to explode those myths with some ideas to help you drive growth and competitive advantage. ----more---- Today’s Participants: Host: Mark Coronna, Partner and CMO, Chief Outsiders mcoronna@chiefoutsiders.com Mark Coronna | LinkedIn Guest: Noel Elfant, Principal Attorney, General Counsel Practice LLC Noel.elfant@gcpractice.com https://www.gcpractice.com/ https://thepracticalcmo.com/ep-22-intellectu…-are-you-missing/ About Mark's Guest: Noel Elfant is the founding member and principal attorney of General Counsel Practice LLC. GC Practice delivers general counsel services to individuals and companies that require business-focused, operationally oriented legal advice of seasoned general counsel on a cost-effective, less than full-time basis. Noel was the first general counsel, corporate secretary, and chief compliance officer for Zebra Technologies Corporation, a publicly held manufacturer and marketer of bar code and RFID technologies. Most recently he served as the general counsel for the North American operations of DeLaval Inc. a Swedish manufacturer of dairy farm equipment and cleaning chemicals for the food processing industry and part of the multi-billion-dollar, privately-held Tetra Laval Group. He began his career in the corporate and securities department of McDermott, Will&Emery before joining the legal department at Fortune Brands, Inc., a consumer products conglomerate. Noel earned his JD degree from Northwestern University School of Law and his BA degree from UCLA. He is licensed in Illinois, Wisconsin, and Ohio. Noel is married to Susy, they live in Northbrook, Illinois, and they have three adult children.

Like many emerging technologies, artificial intelligence (AI) is making its way into the market through several applications. Emerging technologies are often misunderstood and misapplied early in their adoption. Even when the technology itself is ready for commercial application, individual businesses need the maturity and readiness to use these newer technologies effectively. In this program, we will focus on how AI is being used in Marketing applications today. We’ll focus on what works and what doesn’t and lay out some specifics around how you can use this technology to improve your B2C and B2B Marketing programs. https://thepracticalcmo.com/ep-21-is-it-time…-ai-in-marketing/ ----more---- Today’s Participants: You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Christa Martin, Fractional CMO, Chief Outsiders cmartin@chiefoutsiders.com Christa Martin | LinkedIn

Most business start-ups fail. The numbers are both compelling and ugly—only 10% of all business start-ups reach $1M in revenue and fewer than 1% get to $10 million. What if you could beat the odds by employing four tested business practices? In this program, we are going to take a positive track and outline a set of proactive actions every business exec contemplating starting a business, or already actively building a new business, can adopt to beat the odds and achieve your goals. https://thepracticalcmo.com/ep-20-four-best-…t-up-to-scale-up/ ----more---- Today’s Participants: You can connect with Mark Coronna through LinkedIn here: https://www.linkedin.com/in/markcoronna/ Guest: Brett Trainor, Founder, iQuipt Ventures bt@bretttrainor.com 331-871-6866

The adoption of “digital” in your business may be an initiative you have considered but consistently tabled. With markets rebounding from COVID and with quickly forming preferences which will transform the way business is done online, you may be behind the curve. “Digital” offers increased abilities to manage your employees and your customer acquisition and relationships as online business becomes more of a preference and less of an option. But “digital” is hard to define, hard to prioritize, and often hard to execute well, following the “Business First, Digital Second” approach. This expert session will help you structure an effective digital roadmap for your business, starting with digital marketing best practices. https://thepracticalcmo.com/ep-19-your-first…ing-more-digital/ ----more---- About Mark's Guest: Beth helps companies develop market-focused strategies and leverage technology to fuel growth and innovation. A digital pioneer, Beth led OfficeDepot.com to $15 million in revenue and profitability in year one. She also ran two digital-first automotive companies and directed all digital marketing for 10 auto dealerships. She has expertise in all aspects of digital - analytics, PPC, SEO, Website optimization, video, mobile, and social media. Recently, Beth led the productization of Chief Outsiders Digital Marketing Assessment. Host: Mark Coronna, Partner & CMO, Chief Outsiders mark@thepracticalcmo.com www.linkedin.com/in/markcoronna/ Guest: Beth VanStory, Partner & CMO, Chief Outsiders bvanstory@chiefoutsiders.com Beth VanStory | LinkedIn (804) 332-4247

With the pandemic impacts on many businesses, a shift to more digital marketing and digital engagement with customers is definitely a priority for many CEOs and Marketing execs. One bridge to be crossed is the shift, or addition, of e-commerce channels for products and service delivery. And the second bridge comes right after the decision to move online: should you consider Amazon a friend or a foe as part of your e-commerce strategy? There are two parts to understanding an Amazon decision, the first an analysis of strategic fit and the second, if you decide to use Amazon’s reach and capabilities, is what form of a relationship to have with them. https://thepracticalcmo.com/ep-18-amazon-friend-or-foe/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://www.linkedin.com/in/markcoronna/ Guest: William Fikhman, Founder and Chief Strategy Officer, Amazzia Connect with William on LinkedIn www.amazzia.com

Now that the shift to a higher percentage of remote workers looks like it will continue after the current pandemic recedes, it’s time to ask what types of communications businesses should be used for effective customer acquisition and current customer development and retention. With an anticipated, 20-30% of the post-pandemic workforce projected to work remotely, what are the most effective communications channels and content? Should we reconsider a blend of more traditional communications along with a higher mix of digital? In this program, we’ll discuss best practices and share practical ideas for managing internal and external communications. https://thepracticalcmo.com/ep-17-customer-c…ng-are-you-ready/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://www.linkedin.com/in/markcoronna/ Guest: Rob Johnson, President, RJ47 LLC (80) Rob Johnson | LinkedIn News Anchor/Communications Specialist Rob Johnson Home Page robjohnson@rj47llc.com

When you boil down the model for successful leadership, what do you have? Do those key aspects of leadership translate from military to public companies? And is it possible to share practical guidance to help developing leaders grow? In this podcast, I’ll be discussing these and related topics with Craig Whelden--a retired Major General in the U.S. Army. Craig also served as a senior executive for nine years in the U.S. Marine Corps. If you are aware of the cultural differences between these two service branches, you’ll understand just how unique Craig is in bringing his leadership model successfully to both. Craig is an in-demand speaker and author on leadership. He brings a unique perspective built on practical guidance based on his own experiences and learning. And you’ll see that one of Craig’s characteristics is being authentic. It’s not just the situations which went well which polished Craig’s leadership model—it’s situations which turned out very differently than expected. https://thepracticalcmo.com/ep-16-leadership…to-be-their-best/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://www.linkedin.com/in/markcoronna/ Guest: Major General Craig B. Whelden, U.S. Army (Retired) https://www.linkedin.com/in/craig-whelden/ Additional resources referred to in this program can be found here: “Leadership: The Art of Inspiring People to be Their Best” Major General Craig Whelden, U.S. Army (Retired), New Insights Press, 2019 (Amazon) (from the author directly)

What is it about pricing that appears daunting? Is it that it seems a strange mix of art and science which itself is intimidating? Is it a challenge because we lack the data from customers and competitors required to make high-confidence decisions? Is it because we don’t have the courage to match our pricing with the value we provide? Or is it because we fear making a decision that may have unfortunate negative consequences on our business? An effective pricing strategy may appear like the holy grail, but businesses need competitive pricing which matches their value propositions and is effective in their core markets. https://thepracticalcmo.com/ep-15-pricing-with-daring-caution/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://www.linkedin.com/in/markcoronna/ Guest: Bob Sherlock, Partner & CMO, Chief Outsiders bsherlock@chiefoutsiders.com https://www.linkedin.com/in/bobsherlock/ Additional resources referred to in this program can be found here: “Daring Caution: The Executives Guide to Pricing Improvement,” Robert F. Sherlock, Infinity Publishing, 2011. Available at Amazon and other online bookstores. “Value-Based Pricing: Drive Sales and Boost Your Bottom Line by Creating, Communicating and Capturing Customer Value” Hardcover – 2011 by Harry Macdivitt and Mike Wilkinson “The Strategy and Tactics of Pricing: A Guide to Growing More Profitably” by Thomas T. Nagle

There are many ways to approach growth. Some businesses think incrementally about building off their core revenues and current customers. Others are a bit more ambitious and think one- or two years out and focus on bringing existing products and services to new adjacent markets. Still fewer other businesses think more openly about growth as transforming their existing business model or starting new businesses which could add significant revenue and profit streams. So, do you pick one, some, or all of the above forms of growth? Transformational growth seems challenging and risky, so why consider it? In this program, we’ll discuss what it involves, when you should consider it, and how to proactively manage it to improve results and reduce risks. This is a big topic, and for this show, we are going to focus on answering two questions: WHY and WHEN. We feel every business leader who wants to consider a change should first start with an understanding of WHY and WHEN to consider transformational growth. https://thepracticalcmo.com/ep-14-transforma…time-to-consider/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://www.linkedin.com/in/markcoronna/ Guest: Anil Singh, CMO, Chief Outsiders asingh@chiefoutsiders.com www.linkedin.com/in/singhcmo/

There is plenty of free advice on how and what to do to manage your business through and out of the health crisis. Some of it is getting recycled regularly and starting to seem stale. I recently met Kyle Arneson when we participated in an “expert roundtable” and found Kyle’s guidance incredibly fresh and empowering. Building on his USMC background, Kyle attacks challenges just like you’d expect from a tenacious Marine. Kyle’s focus certainly encompasses best practices in planning and execution, but his focus is on business leadership—in fact, just how well leadership sets the agenda and pace. When times are tough, the best business leaders run toward the challenge. Many won’t even use the word “challenge” to describe our current situation. They call it a “once in a lifetime opportunity.” Does that surprise you? Listen in to learn more. https://thepracticalcmo.com/ep13-get-moving-…you-need-to-know/ ----more---- Today’s Participants: Host: Mark Coronna mark@thepracticalcmo.com LinkedIn: https://linkedin.com/in/markcoronna/ Guest: Kyle Arneson, Founder, World Leadership Partners https://linkedin.com/kylearneson2018/ Additional resources referred to in this program can be found here: One of Kyle’s most influential books: “Think and Grow Rich” by Napoleon Hill For information on Kyle’s new charity to provide dental care to veterans (Objective: Veterans Smile), please contact Kyle on his LinkedIn site.

Two companies may take the same business processes or tools and adopt and implement them totally differently. Sometimes, there’s no “better or worse,” it’s more about making these tools and processes work best for you. Here’s an example. There are many ways small- and mid-sized businesses implement EOS/Traction management disciplines. Some use formal implementers, some contract with part-time integrators, and some try to do the whole thing themselves. Any of these approaches can work, as long as you embed the discipline into your ongoing management processes. https://thepracticalcmo.com/ep12-outperform-…-your-management/ ----more---- It’s the same outcome when businesses embed Horizon Growth planning into your management processes. There are many ways to do it, but on today’s program, I’m going to bring a guest who has done it better than any company I’ve ever used Horizon Growth with—a achieved the great results! You’re going to want to listen to Tom H. Sween’s story. Additional resources referred to in this program can be found here: https://thepracticalcmo.com/horizon-growth-planning-maximizing-business-valuations/

Even the smallest companies can be challenged by poor internal communications. Fortune- sized enterprises? Sure. But small- and mid-sized business? Yes, it happens too often in these businesses. You might ask how and why that can happen when you have an employee base of less than 200 and everyone works in the same facility. I asked that question after observing poor communications--and the negative effects of having a workforce which is not aligned--hurt business performance—over and over. Today’s approach to the topic of “failure to communicate” will explore an innovative way to improve communications—focusing on building an “internal” network. Additional resources referred to in this program can be found here. https://thepracticalcmo.com/ep11-internal-ne…nication-success/ ----more---- About Mark's Guest: A facilitator and coach since 2009, Graham Dobbin has worked with clients in the UK, USA, Africa & Australia. Having owned and managed several companies, he brings practical experience in leading change and developing sales & leadership teams, originally from Scotland and now resident in New York. Graham is passionate about authenticity and context, working with teams from middle management to C-Suite in various industries. Facilitating programs for diverse senior leadership, teams in car manufacturing, nuclear processing plants, and the world’s largest co-working provider.

This is a continuation of the conversation with Bob Lambert of Samurai Business Group, LLC. We pick up with Bob talking about the reasons poor alignment happens. He says there must be three things in place: Understanding the goal - a clear view of your future. Getting a strategy alignment supporting that goal Understanding and accepting the role each person plays to get there. https://thepracticalcmo.com/ep10-core-reason…es-and-marketing/ ----more---- When one or more of these isn't happening, you are guaranteed not only poor alignment but eventual failure. Here how to avoid the common causes of missing the mark: The earlier portion of this interview is available here: What Happens When Sales & Marketing Collaborate, and What Happens With They Don’t?

The dual challenges to both understanding the differences between Sales and Marketing and then align them for the benefit of your business don’t seem to be easy to resolve. For years, one of the most downloaded articles offered by Chief Outsiders has been the piece titled “What’s the Difference Between Sales and Marketing?” https://thepracticalcmo.com/ep9-what-happens…when-they-do-not/ ----more---- Understanding the differences between these two disciplines and ensuring that they work closely together can be the difference between industry-leading growth and being an industry laggard. It is an important topic, and we are going to lay out the argument for you as we share two points of view based on our experiences as Sales and Marketing executives. While revenue and profit performance are always timely topics, they are even more timely today. As the economy recovers, having an efficient and effective go-to-market model ready to take advantage of economic tailwinds will be critical to many businesses. And for many businesses, their opportunities coming out of the health crisis will look quite different than those they had on their working list when this year started. Additional resources referred to in this program can be found here: Original eBook written by the Host on an Intelligent Sales Pipeline : Improving Lead Gen eBook

This program is the second of a two-part series where we explore the challenges and best practices in securing the investment capital required to continue growth. We’ve been exploring challenges and best practices from two stakeholder points of view: corporate CEOs and investors. In this podcast, we’re exploring the investor’s point of view. While capital availability is always a timely topic, it is perhaps even more timely today. As the economy recovers, having ready access to expansion capital to take advantage of economic tailwinds will be critical to many businesses. https://thepracticalcmo.com/ep8-challenges-a…tors-perspective/ ----more---- Additional resources referred to in this episode can be found here: The first podcast in this series: The Practical CMO-Best Practices Securing Investment Capital-CEOs Perspective Original eBook written by the Host: https://thepracticalcmo.com/driving-your-business-forward/

This program is part of a two-part series where we explore challenges and best practices in securing investment capital required to continue growth. I thought it would be interesting to explore these challenges and best practices from the perspective of two stakeholders: corporate CEOs and investors. While capital availability is always a timely topic, it is perhaps even more so today as accessing the capital required for business expansion post the current economic crisis will be critical to many businesses. https://thepracticalcmo.com/ep7-challenges-a…ceos-perspective/ ----more---- Additional resources referred to in this program can be found here: Original eBook written by the Host Lifesprk investment announcement