Archive for the ‘Social Marketing’ Category

Lessons from UGC in 2020 – and How it Can Help You in 2021 – Social Media Today

As consumers battled to get used to the new normal in 2020, brands were also faced with finding new ways to stay connected with their audience.

Not only that, but the last twelve months have completely destroyed the concept behind big advertising campaigns. Social distancing meant camera crews werent able to gather, while many brands faced content production limitations.

But there was one type of content that was particularly pandemic-friendly: user-generated content (UGC).

In 2020, we saw a dramatic surge in customer-created photos and videos, across all different industries. Brands were able to collect and share content under tight budgets, with short deadlines, and without going all out on production.

More importantly, they were able to share content that tapped into a growing need for human connection - which will remain a key element to consider in your 2021 approach.

'Connection'was the buzzword of 2020.

People were forced to stay home under strict lockdowns,as part of the COVID-19 mitigation effort. We were separated from family and friends, and the whole ordeal left a lot of people searching for connection anywhere they could find it.

The pandemic has brought a sense of were all in this together"with it and brands, are able to use this to maximize their own connection.

Take Michigan Medicine, for example. They encouraged people to share drawings, photos, and words that recognized the sacrifices that medical workers have made.

Understandably, people didnt want to feel alone, and the internet brought comfort in the form of UGC. It brought people together, and created communities around brands, while also giving people hope and uplifting stories to focus on.

UGC wasnt just the easiest type of content to create in 2020 - it was needed.

Heres why: It facilitated a surge in 'globally-focused'content

Brands that attracted a local audience pre-pandemic found their doors blown wide open to a global customer base.As stay-at-home orders forced people to,well, stay at home, large numbers turned to online shopping. This enabled brands to focus on optimizing their online stores, and serving customers that werent just in the local vicinity of their brick-and-mortar store.

UGC helped bring all of this together, enabling brands to connect with customers wherever they were in the world.

Essentially, UGC fostered human connection - and that connection is more important than ever during a global crisis.

As humans, we want to feel a part of something, and a pandemic is a scary time for everyone. UGC helps bring like-minded people together, inject a sense of community, and create more human campaigns instead of polished, branded offerings.

Mastercards Apart, but united campaign is a great example of a brand doing this well - they pieced together real footage from customers into a short,docu-style video that was emotional and connective.

Consumers were actively seeking inspiring, uplifting, and relatable content during the pandemic. In fact, one study showed that 70% of people wanted brands to share positive content.

They especially sought content that acknowledged the turbulent situation we were all in, but that did so in a sensitive way.

UGC bridges the gap between brands and buyers and increases the sense of belonging.

Oreos #stayhomestayplayful cross-platform campaign shows this in action. It reminded their audience that happiness can still be found, even in the hardest of times.

If 2020 has taught us anything, its that anything can happen at any time. No one expected last year to turn out the way it did, and it shows that being able to successfully pivot is a must-have for brands.

The fast-paced nature of UGC, and the rawness of content from real people, means that brands are able to be far more flexible. This was vital when the state of the world was changing so fast - the last thing brands wanted was to spend two months working on a campaign, only to find it completely out-of-date after a couple of weeks.

UGC enables brands to gather and share content quickly, and create in-the-moment campaigns based on current needs and trends.

Jack Daniels did this through their With Love, Jack campaign. Using real footage from their audience, they edited together a short video showing people at home.

It increased trust at a particularly untrustworthy time

People were hurt, confused, and skeptical in 2020.Many people had their livelihoods destroyed, millions lost their jobs, and even more had sick family members. There was a lot of bad news all round.

As such, trust was absolutely crucial for brands wanting to attract and maintain their customer base during the pandemic, and UGC is key to building trust. In fact, 70% of consumers trust UGC more than branded content, while 75% think UGC makes content more authentic.

I think we can be pretty confident that many of the trends in 2020 will carry over to 2021, including the surge of UGC. Instead of waiting for the new normal, we should accept that were already experiencing it, and in this new normal, trust, community, and connection are absolutely crucial.

Brands are now serving a much wider audience,and that audience is often sprinkled all over the world. To maintain these new customer bases, businesses will need to continue building trust, and cementing customer relationships. UGC is the perfect way to do this through social proof and community building.

The State of UGC Report states that UGC will still be huge in 2021. The effects of the pandemic continue to ripple throughout the world. That wont change anytime soon.

However, we can expect brands use of UGC to develop and evolve as they settle into this new groove of customer-focused marketing.

In 2021, brands will:

Instead of sharing UGC as and when it becomes available, it will become an integral part of every marketing campaign. Positive customer reviews will be critical for brand success, and social proof will expand to include real-life customer stories told through different content formats.

Employees have been stuck at home too. In 2021, more brands will loop their staff members into content creation to bring together dispersed teams.

Most consumers today expect personalized campaigns. In fact, theyre happy to hand over their data in exchange for personalized product recommendations and individual journeys based on their needs.

According to one study, nostalgic feelings make customers more willing to spend their money. As people strive for things to go back to normal, well see more brands tapping into the past.

UGC has proven to be an integral part of marketing in 2020. Next year, well see it popping up in other types of campaigns, too.

Take White Plains'Virtual Oktoberfest'event, for example. The main campaign is a virtual event, but the organizers turned to UGC to generate increased buzz around it.

Live-streams were incredibly popular during 2020 - which is not surprising really, given consumers were stuck at home and craving connection.

2021 is likely to propel video-based UGC campaigns into the limelight. Sephora started to increase their IGTV output during quarantine, and it looks like theyll be doubling down on that over the next few months.

At this point, youve probably mapped out your marketing plans for the next few months,maybe even the next year if youre particularly organized. But have you included enough UGC in the mix?

We cant predict what will happen in 2021 (and we wouldnt want to, if 2020 is anything to go by), but we can learn from things that worked in the past. And UGC was definitely one thing that worked well in 2020.

In fact, it was the perfect marketing tactic during the pandemic. It brought people together, instilled a sense of were all in this, and helped brands cement trust with an increasingly skeptical consumer base.

So, if you havent already, its time to start thinking about how youll inject a hearty dose of UGC into your marketing campaigns.

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Lessons from UGC in 2020 - and How it Can Help You in 2021 - Social Media Today

How and when to build marketing teams at deep tech companies – TechCrunch

Jessica is on the growth marketing team at Zageno, a multi-vendor, online marketplace for life science products, and is head of content at Elpha, a Y Combinator-backed community of 40K+ women in tech.

Deep tech startups develop cutting-edge innovations with the power to truly revolutionize society. The founding team members at these companies often come from deeply technical backgrounds, which powers rapid product progress but can create bottlenecks on the go-to-market side.

In this post, I outline the answers to four key questions around marketing at early-stage deep tech companies that are post-revenue:

From this post, deep tech startups can formulate their marketing hiring strategy and attract and cultivate top talent to drive their go-to-market plan. Without business execution, even the most groundbreaking innovations do not achieve their intended impact.

To set the context, I share below the typical projects of deep tech marketing teams, which look different from marketing in other industries given the greater product focus and complexity, regulatory oversight and longer time to market.

Marketers leverage the strength of the IP to establish collaborations with large companies, such as pharma companies and institutions, such as the government, universities or hospitals. To this end, marketers develop creative ways to gather lists of, and information on, key contacts at these potential partners. They also build sales collateral, such as demo videos, pitch decks and one-pagers, to more effectively reach and build long-term relationships with these prospects.

More broadly, marketers also develop the go-to-market strategy beyond partnerships. To this end, marketers conduct in-depth market research on business models, monetization strategies and reimbursement channels.

Marketers create original content to establish the company as a thought leader, build the companys brand credibility through social media and apply for awards and honors to validate the potential of the companys solution.

Marketers work with finance and product teams to formulate projections as the company moves into the clinical phase.

The CEO and other members of the founding team take on marketing work in the formation stage to better understand and empathize with the needs, capabilities and opportunities in the department before bringing someone on full time.

Once the product shows signs of repeatable revenue, a marketing lead is needed. Specifically, this is ahead of a large Series A round, after a small Series A round or when a commercial partner has expressed interest in larger, long-term contracts. Instead of the typical chief marketing officer or chief revenue officer title, deep tech startups call this person a chief commercial officer or chief partnerships officer.

For additional support in the formation stage, companies bring on MBA interns and work with their investors. Prior to the Series A, platform teams at deep tech venture-capital funds are hands-on in helping with marketing through actually doing marketing projects for their portfolio companies, ideating on long-term marketing strategy with the founders through regular feedback sessions and connecting founders with vetted marketing contractors or agencies.

For companies that require FDA approval, commercial advisors, consultants and board members fully take on the partnership strategy work (which represents the bulk of the marketing needs) prior to the Series A round. Similarly, external consultants, such as marketing agencies, can take over major projects like launch strategy. External consultants can then join the team should their performance be strong.

For drug-development companies, the marketing leader is most crucial when the company enters the clinical phase and prepares for trials, regardless of funding stage.

Of course, it is ideal to hire someone with experience selling into the space and someone who is comfortable with the complex supply chains and long sales cycles. However, if the choice is between someone with functional expertise but no industry expertise and someone with industry experience but limited or no functional expertise, it is better to hire the former candidate and leverage the rest of the team for domain expertise. Deep tech is a niche area, so the other team members can support the marketer in developing industry expertise.

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How and when to build marketing teams at deep tech companies - TechCrunch

Azul Expands Breadth of Its Leadership Team, Appoints Peter Maloney as CFO and COO; Andrew Savitz as CMO – Business Wire

SUNNYVALE, Calif.--(BUSINESS WIRE)--Azul, provider of the worlds most trusted open source Java platform, today announced that it has significantly expanded its leadership team with the appointment of two new accomplished and talented executives: Peter Maloney as Chief Financial Officer (CFO) and Chief Operating Officer (COO), and Andrew Savitz as Chief Marketing Officer (CMO), both reporting to Scott Sellers, Azuls co-founder, president and Chief Executive Officer (CEO).

As Azuls new CFO and COO, Maloney is responsible for financial strategy and management, planning and analysis, accounting, tax and treasury, investor relations, legal, human resources, business systems, DevOps, and M&A.

Peter is a high-energy, get it done type of person who meshes well with our culture at Azul, said Sellers. He brings deep experience in finance, corporate development, business operations and leading G&A functions. And he has a tremendous track record of helping companies scale quickly, which is exactly what we need at this high-growth stage of our company.

Azuls growth opportunity is unlimited, said Maloney. This is because the value proposition for Oracle Java customers when they switch to Azul is ever clearer: Reduce Java costs over 90 percent and get the most expert and responsive support in the industry, which keeps enterprise devops productive. Im very excited to join Azul at a time of such great potential.

Maloney has more than 25 years of strategic financial management and business operations leadership experience including 19 years of executive leadership for SaaS companies. Previously, Maloney was with Jobvite, the leading recruiting software company, where he was CFO. Prior to that, he served as CFO of E2open, Inc., where he led a successful IPO, follow-on offering and sale of the company. He has also served as CFO of SNOCAP, Inc. and CFO and VP of Finance of Keynote Systems, Inc. and throughout his career has held a series of leadership roles in finance, investor relations, corporate development, and management. Maloney holds a B.B.A. in Economics from the Fox School of Business at Temple University and an MBA in Corporate Finance from the University of Southern California - Marshall School of Business.

Savitz, as Azuls new CMO, is responsible for setting and executing Azuls strategy to dominate the enterprise Java market and leads all global marketing initiatives, including product marketing, product management, brand marketing and positioning, demand generation, digital and social marketing, field marketing, public relations, analyst relations, developer relations and community & evangelism.

Andrew has a tremendous amount of experience across all aspects of Marketing, and a proven track record of helping companies effectively message, drive awareness and leads, position products, create new market categories, and enable high growth sales, said Sellers. Andrews been successful across different market and product segments, and with both traditional software and SaaS. Hes also a great fit culturally with his style and intellect.

We live in a world now where software is everything. With over a third of the worlds applications built in Java, this programming language will continue to play a leading role in the future of software and were committed to support that success, said Savitz. Azul is the right place to be if you want to help organizations save money, make applications more secure and performant, and give CIOs who are responsible for complex, mission-critical applications peace of mind with the answers and problem-solving they need from the best Java support team in the industry.

Savitz brings more than 20 years of experience leading global marketing teams at high-growth SaaS companies. He joins Azul from BetterCloud where, as CMO, he coined, scoped, and launched the SaaSOps movement. Prior to that, he was CMO at AppDynamics, where he had responsibility for global marketing at one of the fastest growing software companies in the world and its integration into Cisco after the companys acquisition; CMO at Aconex where he played an instrumental role in the companys IPO which led to an acquisition by Oracle in 2017. He has also served as Vice President of Worldwide Marketing at KXEN through the companys acquisition by SAP in 2013; and helped lead the growth of Salesforce.coms largest product line. Andy holds a bachelors degree in mathematics and computer science and an MBA from UCLA.

Azul Systems

Azul Systems (Azul) is the largest company 100% focused on Java and the Java Virtual Machine (JVM), providing the worlds most trusted open source Java enterprise platform. Azuls Java runtimes power Microsoft Azure; the cloud infrastructure of companies like Bazaarvoice, Priceline, and Workday; and the operations and products of Avaya, BMW, Credit Suisse, Deutsche Telekom, LG, Mastercard, Mizuho, and Software AG. Azuls customers include 27% of the Fortune 100, 50% of Forbes Top 10 Worlds Most Valuable Brands, and all 10 of the worlds Top 10 financial trading companies. Azul solutions are available for developers, ISVs, enterprises with on-prem and cloud deployments, as well as for OEMs building embedded and IoT devices. Visit azul.com and follow us on Twitter @azulsystems.

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Azul Expands Breadth of Its Leadership Team, Appoints Peter Maloney as CFO and COO; Andrew Savitz as CMO - Business Wire

There are too many either-ors in grocery: balance marketing and engineering – The Grocer

Happy New Year! Now that the calendar has clicked over and weve entered a first quarter unlike any other, I find myself reflecting on how retailers and grocers can balance priorities this year. It feels as though were living in an era of extremes, and Im not even talking about politics. Take the Covid crisis our options framed as either open economy or lockdown, personal freedom or public safety. This months consumer behaviour seems to be similarly divided; either theyre still embracing the quarantine lifestyle and getting home deliveries of wine and packaged meals, or rushing back to January-as-usual shopping for healthy food and fitness memberships.

As I hinted in my last column, I recognised this dynamic at play in The Social Dilemma, a film mainly about the perils of social media but driven by the tech companies remorseless focus on KPIs at the expense of just about any other consideration. Embracing data-based approaches is good; succumbing to the tyranny of the KPI is just another form of extremism.

Were not innocent of these either-or dichotomies in the retail and grocery industry. Theres a sense that you can be either entirely transactional, price and performance-driven, or focused on customer satisfaction, and perhaps less financially successful.

Thats too many either-ors. Too many extremes. We need to find some balance.

Which leads me to a technology-focused book I read over the holidays, No Filter, which looks at Facebooks acquisition of Instagram and its transition as a company since then. It paints a picture of Facebook as a business run by engineers, while Instagram is run by marketeers, mirroring the KPI-focus vs customer-focus tension we see in our industry. Although not all of Facebooks KPIs are financial, they directly translate into financial metrics, and the merged company needed Instagrams commitment to preserving a positive user experience. It cant be all about the numbers; customers and staff must also figure into the balance.

Retailers have an opportunity to strike this balance. Readers of my column will know that I believe the most successful businesses are guided by customer data and deliver personalised, real-time marketing through direct consumer connections. But in a data-driven, digitally-connected world, retail brands still often choose a transactional or emotional approach to customer relationships and loyalty. Thats just another either-or. What retailers and grocers need is the right balance between their identity as a business and an assessment of what appeals most to individual customers. An old truism of loyalty marketing is to reward and thank your super-loyal customers and transact with your transactors. That works. Thats balance.

Getting this right is extremely important because the way you treat your customers digitally will make you stand out as a business. If you do it well, you will have a highly satisfied and motivated customer base for your retail operations and a valuable, revenue-generating digital audience to inform strategic decisions and market to directly.

Achieving this balance and becoming a brand that is both data-driven and much-loved will require the marketers and engineers to work together, not in tension. Is that sort of co-operation achievable in 2021? I say lets find out.

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There are too many either-ors in grocery: balance marketing and engineering - The Grocer

Hindsight 2020: CEO Poll Reveals Key Lessons For The Future – Chief Executive Group

The year 2020 presented challenges that few business leaders could have predicted. To quantify how companies are navigating these challenges, Segala leading global HR and management consulting firmand Chief Executive Group conducted a poll of approximately 500 CEOs across 21 industries leading firms with between $5M to $1B in revenue.

Among other things, the poll gleaned key areas that separated the businesses best positioned to successfully navigate the pandemic and other events from those that were met with much more significant challenges. Those five areas include:

Adjusting priorities not only to survive but also seize business opportunities. In some cases, this has led to re-imagining the business model and creating a new vision moving forward.

Accelerating the adoption of technology to enhance employee, customer and supplier interactions, while improving business continuity.

Improving data management practices and the use of analytics to enhance scenario-planning and accelerate smart decision-making.

Reimagining the workforce to effectively support business goals and consider roles, responsibilities, workplace, tools and workflow, while keeping a close eye on culture shifts.

Improving employee communications, engagement, productivity, loyalty and performance.

The poll found that one-third to one-half of the companies had instituted significant changes in response to the events of 2020, and between 15 and 32 percent had changes already in place or ready to implement. Many of these changes related to aspects of employee work processes, standards and systems to support employee productivity, connection and engagement.

While companies have pivoted to adapt to the environment brought about by the events of 2020, many of the changes instituted to support workers and business operations were reactionary and evolving. Answers to open-ended, non-multiple-choice questions revealed frustration with regards to issues such as workforce management and the impact a changingand at the time of polling yet uncertainpolitical landscape was having on CEOs decision-making about their business transformation timing, processes and plans.

Companies with annual revenues of $100 million or more were overall better prepared than their smaller counterparts to deal with the changes required in 2020. In fact, a greater number of these larger companies reported having been making changes even before the event-driven needs arose.

Further analysis of this revenue bracket did not show the expected universally increasing curve of preparedness measures. We would have expected preparedness to continue to increase as company revenue rose. In fact, answers to questions that probed leadership flexibility demonstrated some flattening of the upward trajectory within the $250 million+ cohort. This implies that those CEOs whose companies were in the $100 million to $250 million revenue bracket might have already had an adequate mix of resources to prepare and adapt going into the crisis, as well as the agility and culture organizations need to be flexible and execute on changes when needed.

While the survey did not probe specifically whether CEOs planned to leave flexible work arrangements in place post-Covid, responses across the questions spoke to a permanence for some of the workplace changes instituted in 2020. Where possible, it is likely that where work is performed and hours of operation will remain somewhat flexible.

Companies that had existing flexible work arrangements before 2020 will be in a stronger position to judge how much the events of 2020 affected productivity. Those companies that measured and created a baseline for these programs before changes or expansions were implemented could use that data to evaluate the effectiveness of adaptations and develop improvements.

The survey revealed a marked uptick in training programs that started or expanded in the first months of the crisis, likely in response to adopting or expanding remote-work or hybrid arrangements. Once again, company size contributed to some differences in the data: One third of the respondents overall provided new training due to Covid-19, but 47 percent of those with $100 million+ in revenue confirmed the addition, compared to 28 percent of those earning less than $100 million annually. Our assumption is that greater resources are available for training for the higher revenue group, but this is likely not universal and dependent on the type of business, the work performed and the skill level of the employees. In many cases, companies are redirecting travel expense dollars to training and other infrastructure improvements. As one write-in response said, we are shifting a lot of the T&E savings to digital/social marketing.

A number of CEOs participating in the survey spoke to the need for effective employee communications programs. Every change in workplace processes that affects the nature of work can affect productivity, so it is not surprising that communications would take on an important role as companies digitize and change workflows. Some of the respondents, however, noted the need for incremental communications to parallel incremental changes or process improvements. Following this approach helps employees personalize the changes and understand what they need to start doing and stop doing in their roles better than one major communication tied to one significant role shift.

A number of the answers pointed to a growing recognition by leaders that their employees are stressed, that the stress is cumulative and that support through workplace programs is required. Zoom fatigue is real, and companies need a strategy to deal with it in terms of employee morale and productivity. Have the employers really made changes to improve mental health or only to deal with immediate fallout? This speaks to the definition of wellbeing and whether mental health is a component or a driver of that wellbeing.

A question not probed by the survey but noted in a few of the write-in responses is, How will virtual interactions affect client/customer relationships? More than a third of the respondents (36 percent overall, and 40 percent of those with $100 million or more in revenue) said that they have added or changed their customer satisfaction tools or measures. This helps those organizations judge whether aspects of the virtual interactions such as frequency of Zoom check ins are effective in maintaining customer/client loyalty.

Without question, 2020 was a year of disruption, as confirmed by the data collected. It tested each organization, each leader and each employees tolerance for stress and their efficacy in approach to handling that stress. It also emphasized that adaptations and the solutions that follow must be stress-tested in the context of us: just as employees must work together, business leaders need to consider the actions theyve taken and the plans theyve crafted for the future in the broader context of their peers (including suppliers and customers).

The challenges posed by 2020 are not unique to one organization or one sector, and so the solutions will likely emerge from this common experience, from a collective consideration of best practices. The elements of commonalitysuch as the increase in remote work and hybrid work arrangements or the need to consider expanding employee wellness programstend to cut across employers and industries. The broad-scope solutions then can be adapted to fit the requirements of each companys culture. Some of these are suggested in this survey.

The link between culture, engagement and productivity has become more evident. Companies where the culture could adapt to necessary business continuity changes have weathered the 2020 storm with greater agility and resilience. Based on the survey responses and other observations, culture should be moving toward improving people, process and outcomes, rather than altruistic reasons, but because the events of 2020 have transported the work environment five years or more forward in time, we learned that even the best business continuity and disaster recovery plans were not prepared for the magnitude and number of challenges 2020 brought us. However, we also discovered how quickly people can come together to creatively solve problems. Ideally, this has created lasting changes to culture whereby companies strive toward improving people, process and outcomes continuously.

Leaders also needed to adapt, as evidenced by the survey responses. Covid-19 and other 2020 events were personal for everyone, and the effect continues. No one was or is immune to the effectswhether directly or indirectly affecting health, wellbeing, relationships, financial stability, job and careerand even spirit. Leaders need to be keenly sensitive to this reality and include this in their planning for 2021 and beyond.

Tangible forward-looking steps and questions CEOs and other leaders may consider include:

Planning for more than technology to support remote work environments. For many companies, 2020 proved that working remote can be effective, but now, as we shift focus away from short-term actions and survival, it is time to evaluate carefully the frequency and objectives of online meetings. Better methods, techniques and tools can increase interactions and collaboration among teams, as well as with clients and customers. As many organizations are planning less travel for 2021, technological approaches will become the norm for many customer, partner and supplier interactions, and this change likely will become, at least partially, permanent.

Evaluating not only how employees work but also what they do. As the survey showed, Covid-19 triggered an increase to remote work (55 percent), a focus on employee wellbeing (54 percent) and the establishment of new goals (36 percent). What have we learned from these changes that we should continue doing, adjust moving forward or stop doing once we turn the corner?

Expanding the possibilities through digitalization. Digitalization is more than new virtual meeting technology. It is a fundamental change in how business is conducted, starting with the customer experience. This may require process re-design, better data management methods, new systems and integrations, and the use of advanced technologies like analytics, artificial intelligence (AI) and robotic process automation (RPA). As CEOs view the changes in the nature of work, the work environment, the work processes and evolving roles of the current workforce, organizations are going to require a much more agile and hi-tech-enabled workforce to compete.

Recognizing the shifts in employee composition and the reasons why. The year 2020 saw accelerated retirements and retirement planning for many employees. Digitalization notwithstanding, many of these employees will need to be replaced. This presents a twofold opportunity: bring in workers with the new skills that are needed for the new environment and address governance issues that have surfaced. DE&I (diversity, equity and inclusion) and ESG (environmental, social and governance reporting) are not just buzzword acronyms; they represent a 5-10-year advancement in these areas in just one year. Where business governance structure is lagging these advancements, CEOs and their management teams will need to learn what to measure, why measure it, what is considered good and what to do when those measurements fall below good. New reporting standards on human capital metrics will likely be in place soon, and companies that ignore these changes will be in a weaker competitive position relative to the labor and investment markets.

Developing an analytics-based familiarity with the organizations culture. Although most organizations believe their culture has gotten stronger, the question remains, how do they really know? Since culture reveals itself during challenging times, evidence needed to gauge the behaviors and attitudes of employees during this time goes beyond traditional surveys and other measures and well past longstanding gut feelings. A new analysis of organizational culture will give leaders a chance to see what has changed, what employee concerns will need to be addressed and what aspects of the traditional culture remain.

Continuing and improving employee communications channels. For many companies, employee communications increased dramatically in 2020and so did the level of transparency. Will this continue, and if so, what must be shared moving forward now that employees have gotten used to the frequency and transparency? Determining this will take careful consideration because an abrupt change may have a negative impact on engagement and productivity.

Deciding on when, how and how quickly to re-start business initiatives put on hold. CEOs may consider utilizing some form of business scenario-planning that goes beyond pre-Covid levels of sophistication. One example is the scenario-modeling used in some of the emerging M&A toolsets. Similar tools are coming to market for evaluating digitalization, sales, marketing, operational improvement and other potential initiatives.

The year 2020 has provided a unique opportunity for CEOs to consider ways to reset how their companies conduct business and, more importantly, grow and compete in a changed world. Those who seize this opportunity may find themselves in a stronger position to deal with the continuing requirements to be agile and responsive to what lies ahead.

Download the full report here.

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Hindsight 2020: CEO Poll Reveals Key Lessons For The Future - Chief Executive Group