Business
Beyond belt-tightening: How marketing can drive resiliency during uncertain times
With the economy still sending mixed signals, it’s no great surprise that companies are feeling skittish and cutting costs. Unfortunately, the marketing budget is often the first to go. In December 2022, we surveyed nearly three dozen chief marketing officers (CMOs) of major North American consumer companies. On average, they told us that their company boards demanded an 8 percent reduction in marketing expenditures over the previous 12 months. In some cases, marketing budgets were cut by as much as 10 to 20 percent. One large public company even slashed its marketing budget by more than 20 percent.
Uncovering culture: A call to action for leaders [REPORT]
Uncovering culture explores the ways and extent to which US workers “cover”—that is, downplay known disfavored identities to fit into mainstream corporate cultures. This research questions orthodoxies of authenticity and power, including perceptions of psychological safety, to meaningfully move towards equity and belonging in the workforce.
The Ultimate CEO KPI Cheat Sheet [INFOGRAPH]
To be a world class CEO, you can’t just focus on business KPI’s…
Retail Principles for Artificial Intelligence [WHIEPAPER]
The National Retail Federation released its Principles for the Use of Artificial Intelligence in the Retail Sector to support the industry’s artificial intelligence (AI) governance and strategic planning. Developed through its Center for Digital Risk & Innovation, the principles encourage appropriate and effective governance of AI, promote consumer trust, and facilitate ongoing innovation and beneficial use of AI technologies.
How Race, Age and Gender Shape Attitudes Towards Mental Health [REPORT]
Mental health has been in the news quite a bit lately. Dozens of U.S. states are currently suing Meta for contributing to the youth mental health crisis by inserting addictive features into their products, while the U.S. Surgeon General is touring the nation to bring awareness to the growing epidemic of loneliness and isolation. The country has endured periods of low national morale, such as in the 1970s when high inflation and the energy crisis worsened public sentiment following the Vietnam War. The current mood, however, feels different. Gallup recently reported that national mental health is at an all-time low, with few bright spots to lift spirits.
Differences Between B2B and B2C Marketing
Marketing is a dynamic field that adapts to the unique needs and behaviors of its target audience. Two primary segments in the marketing world are Business-to-Business (B2B) and Business-to-Consumer (B2C) marketing. While both share common principles, they have distinct characteristics and strategies tailored to their respective audiences. Here are some key differences between B2B and B2C marketing and how understanding these distinctions is essential for successful marketing campaigns.
2023 Holiday Sales Will Have a ‘Whole New Set of Dynamics’
There has been a shift in spending from goods to services that could affect holiday retail sales as consumers who stayed home during the pandemic are venturing out again for travel, entertainment and restaurant dining.
8 Strategies for Growth for Customer Acquisition
Acquiring a new customer can cost five to seven times more than retaining an old one. However, to get an established customer, you first need to acquire them.
US holiday shopping 2023: Consumer caution and retailer resilience
After a year of modest sales growth, retailers face a critical holiday sales season. The big question on everyone’s mind: Will consumers—whose spending habits have challenged efforts at curbing inflation—finally pull back?
The power of partnership: How the CEO–CMO relationship can drive outsize growth
Amid a challenging macroeconomic environment and rapid change, CEOs are searching for the next engine for growth. The answer may be right in front of them: a redefined and reinvigorated relationship with their CMO.
2023 Holiday to Reach Record Spending Levels
The National Retail Federation forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion.
Forward Thinking on why we ignore inflation—from ancient times to the present—at our peril with Stephen King [PODCAST]
In this episode of the McKinsey Global Institute’s Forward Thinking podcast, co-host Janet Bush talks with Stephen King. King is a senior economic advisor to HSBC, having served as the bank’s group chief economist from 1998 to 2015. His latest book, very prescient in timing, is We Need to Talk About Inflation: 14 Urgent Lessons from the Last 2,000 Years.
AI Can Save Time, But It’s Not Saving Advertising
By James Avery Advertising growth swells year by year, with or without artificial intelligence (AI). At face value, AI is a statistical model that predicts what will come next and like other tech innovations, it can certainly help optimize processes faster; but it won't necessarily revolutionize the advertising industry. The reliance on AI today is obvious in how quickly it has been placed on a pedestal of being a saving grace within the advertising industry.
New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses
The U.S. Census Bureau released new estimates on the characteristics of employer businesses. According to the 2022 Annual Business Survey (ABS), which covers reference year 2021, there were approximately 5.9 million employer firms in total, of which, 1.2 million (21%) were minority-owned, 304,823 (5.2%) were veteran-owned, and around 1.3 million (22%) were owned by women. This release also includes demographic data by Urban and Rural classification, employment size, receipt size, and the years in business of each firm.
Paths to Prosperity Research – Finds Consumers Resilient Though Pressures Mounting [REPORT]
Santander Holdings USA, Inc. announced findings from a new survey that shows American consumers are optimistic about their futures despite mounting financial pressures. The results found 68% of middle-income households believe they are on the right track toward achieving financial prosperity, which remains unchanged from Q2. However, prolonged inflation and the resumption of federal student-loan payments are clear economic stressors for middle-income households.
The Night a Bad Bunny and A Rolling Stone Spoke to America “En Español”
Last Saturday, October 21, was an historic moment for American television. It was also a breakthrough moment for the country’s Hispanic community, Latino culture and, as such, our Hispanic communications industry. It was one of those cherished evenings where we received one of the most meaningful nods of validation, this time from America’s historically iconic comedy show: Sábado Gigante…I mean NBC’s Saturday Night Live. By Gene Bryan / HispanicAd
2023 Mid-Market Technology Trends [REPORT]
Companies of all sizes, in all sectors, are likely pondering the role of technology in their short- and long-term strategies. But many middle-market companies—powerhouses of the U.S. economy—have their own considerations for when, how, and why to adopt certain technologies based on the nuances of this fast-growing segment. How do the challenges and opportunities of middle-market companies inform their technology decisions? What are the trending strategies and investment decisions within this segment?
Arminda Figueroa, CEO of Latin2Latin Marketing, Attends White House Meeting to Discuss Economic Transformation in Florida
Arminda Figueroa, CEO of Latin2Latin Marketing, was invited to the White House to engage in discussions centered around the impact of President Biden's Investing in America Agenda on Florida's economic landscape.
Why we practice radical candor in providing pitch feedback
One of the great frustrations for agencies for agencies, beyond coming second is the lack of constructive feedback during and at the end of the pitch process. In my agency experience working on new business pitches, the quality of feedback was poor at best and non-existent at worst. Something that still occurs today, with the industry filled with memes on the internet of poor feedback, such as “It was so close, you came a close second”.
Why do we have leaders?
Leadership is all about enhancing and enabling people to develop to their fullest potential by developing their abilities and empowering them to become their best versions. Here is why.
