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I $peak P&L - 6 Tips for Marketers to Gain Credibity in the Boardroom


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I $peak P&L - 6 Tips for Marketers to Gain Credibity in the Boardroom

  1. 1. I $peak P&LI $peak P&L6 Tips for Marketersto Gain Credibility in the Boardroom Karen Dworaczyk, Marketing Executive, 1
  2. 2. I $peak P&L Did you know?…73% of CEOsthink marketers lack business credibilitybecause they fail to quantify thesuccess of their campaigns. *Jerome Fontaine, CEO and chief tracker of Fournaise Karen Dworaczyk, Marketing Executive, 2
  3. 3. I $peak P&LDid youknow?…73% of CEOsalso think marketers fail to understandwhat it means to increase their marketing ROIand tend to comprehend the term as cost-cuttingrather than the generation of more revenue, sales,prospects or customers.* *Jerome Fontaine, CEO and chief tracker of Fournaise Karen Dworaczyk, Marketing Executive, 3
  4. 4. I $peak P&LDid youknow?…74% of CEOsthink marketers spend too much timeon the latest trends, arty and fluffystuff and can rarely demonstrate howthese trends help generate more business.* *Jerome Fontaine, CEO and chief tracker of Fournaise Karen Dworaczyk, Marketing Executive, 4
  5. 5. I $peak P&L Did you know?…49% of Companiesare not using a customer or marketingmeasure to inform boardlevel decision making. * *A Deloitte and CIM, 2010 Karen Dworaczyk, Marketing Executive, 5
  6. 6. I $peak P&LFinally, “Marketers are becomingtoo siloed to becomewell-rounded chief executives.“ * OUCH! *Merlin Entertainments CEO Nick Varney Karen Dworaczyk, Marketing Executive, 6
  7. 7. I $peak P&LHere are 6 Tips to gainCredibility in the Boardroom 1. $peak P&L. 2. Have a strategy & plan. 3. Presell to gain alignment upfront. 4. Create relevant reports. 5. Present real data in an interesting & compelling way. 6. Communicate success. Karen Dworaczyk, Marketing Executive, 7
  8. 8. I $peak P&L WHAT WHY HOW?I $peak P&L Karen Dworaczyk, Marketing Executive, 8
  9. 9. I $peak P&L1. $peak P&L. Leadership Teams & WHY? Boards need a solid case to approve resources. The P&L HELPS tell if your plan is achievable . The P&L tells you where the business is broken & what to focus on to Fix It. Karen Dworaczyk, Marketing Executive, 9
  10. 10. I $peak P&L 1. $peak P&L. Know your top Friend your finance customers & how team & know Know your ops, ID & they contribute. accounts that roll up design engineering to each bucket. teams. HERE’S HOW Know numbers & Know cost drivers trends from the last for production, 3 yrs & targets for product & the next 3 yrs. overhead. Know annual Know your P&L. operating plan & Be the expert. Beyour strategic plan. accountable. Karen Dworaczyk, Marketing Executive, 10
  11. 11. I $peak P&L2. Have a strategy and plan. WHY? The Senior Leadership Team and Board want to see an integrated plan that is synergistic with theirs to achieve its goals for return. Karen Dworaczyk, Marketing Executive, 11
  12. 12. I $peak P&L 2. Have a strategy and plan. Deliver the Purpose, Know & align with target Brand Promise, customers plans. Engage Position & Philosophy. early and often.Align your plan to your Know yourcompany’s strategic plan. competitors. Know the HERE’S industry trends. HOWExceed the targetROI & beat cost of Use research & insightscapital. to drive planned innovation & success.Have hard numbersfor the next 18 – 24 Plan to be bettermonths. 1. for the user, Set 3 - 5 yr. 2. than the competition, targets & 3. for the customer, keep score. 4. for your company. Karen Dworaczyk, Marketing Executive, 12
  13. 13. I $peak P&L3. Presell to gain alignment upfront. WHY? Preselling and developing allies will increase your probability of success & speed up the approval process. Karen Dworaczyk, Marketing Executive, 13
  14. 14. I $peak P&L 3. Presell to gain alignment upfront. Understand additional data that Understand potential Use 1:1 discussions may be needed to roadblocks or barriers. Be allowing questions. Ask provide upfront. ready to address them. for guidance.Influencers work to HERE’S Understand who your align others in HOW allies are. Listen & advance. respect advice. Presell your Be flexible to make plan to suggested changes. influencers.Develop relationships Provide hardcopy with influential summary in Members. advance. Karen Dworaczyk, Marketing Executive, 14
  15. 15. I $peak P&L4. Create relevant reports. WHY? Leadership needs you to cut to the chase; WHAT, HOW & WHY? What are you presenting & asking for? How you did you come to your recommendations? Why should they care? If they know upfront when they will get reports from you, it will avoid fire drills. Karen Dworaczyk, Marketing Executive, 15
  16. 16. I $peak P&L4. Create relevant reports. Request data in a Provide information on a format easily analyzed Pull out regular basis and & presentation ready. meaningful published a schedule. insights. Provide timely Translate insights into information. HERE’S recommendations and HOW innovative solutions. Define resourcesrequired, budgets, timelines, ROI. Describe how the plan wins and is a solution. Friend your IT & Finance department Be clear. & your CFO Karen Dworaczyk, Marketing Executive, 16
  17. 17. I $peak P&L5. Present real data in an interesting & compelling way. WHY? Your leadership audience will be more attentive to your message when it is clear & stimulating backed by real data & a profitable business case. The results will be magical! Karen Dworaczyk, Marketing Executive, 17
  18. 18. I $peak P&L 5. Present real data in an interesting & compelling way. Have examples of Engage your before, after & audience. Don’t be a competition. talking head…or eye Colors & shapes guide candy…get it? how info is organized. HERE’S Use physical HOW props, videos & Use an easy to read REMEMBER, pictures. font size and color. NO KARAOKEDo not use wordy Be consistent withPowerPoint bullets. your branding, even your clothes. Use stimulating graphics. Practice. Practice. Am I right Ladies? Do a dry run. Karen Dworaczyk, Marketing Executive, 18
  19. 19. I $peak P&L6. Communicate success. Senior Leadership & WHY? Board won’t know about your success, unless you tell them. They have responsibility for financial success and your success is their success. Karen Dworaczyk, Marketing Executive, 19
  20. 20. I $peak P&L 6. Communicate success. Use a summary to refresh understanding. Don’t resell it. Remind members they Summarize research & are aligned & have HERE’S insights since last update. approved previously. HOW Summarize changes fromAsk influencers to customer, industry andunderscore success prior competitive & during the meeting Communicate Make recommendations, success regularly. & requests for resources. Karen Dworaczyk, Marketing Executive, 20
  21. 21. I $peak P&LKey Takeaways: Use the 6 TipsShow you are Show you are better1. on time. 1. for the user.2. on budget . 2. than the competition.3. meeting customer needs. 3. for the customer. 4. for your company. You will gain Credibility in the Board Room Once you have Credibility, you are able toget more approved and move faster. Karen Dworaczyk, Marketing Executive, 21
  22. 22. I $peak P&LDo you$peak P&L?Learn the Languageand Gain Credibility in the Board Room Karen Dworaczyk, Marketing Executive, 22
  23. 23. I $peak P&L About: Karen Dworaczyk “Karen $peaks P&L” Recognized as a turnaround manager, Karen is a marketing executive who has led the led the strategic direction of businesses, organizations, and power house brands and products at Fortune 500 companies transforming them from underperforming platforms to growth portfolios. Karen has excellent credentials from companies such as Procter & Gamble, Birds Eye Foods, and most recently she was the Director of Product Marketing at SentrySafe. ***Karen Dworaczyk INSIGHTOVATION@gmail.comMarketing Executive Karen Dworaczyk, Marketing Executive, 23