Hi friends, this week’s newsletter is coming to you from Budapest! I’m out for the week, so we will be skipping (my first miss!) next week’s edition. Have a wonderful Thanksgiving holiday, whatever you are doing. And just know: I am thankful for you!
Stat: 75%
For all of the talk about NFTs, bots, and Artificial Intelligence this past year and throughout the pandemic, one thing is certain: the use of AI and implementation of digital transformation strategies has increased exponentially.
In a recent article from The Financial Brand, discussing trends financial institutions need to be aware of, a report from Accenture said that three out of four C-suite executives (75%), “believe that if they don’t scale AI in the next five years, they risk going out of business.”
AI can mean a lot of things: chat-bots, content presentation, email marketing, customer service, etc. The thing to remember is that AI must always serve the customer. If it doesn’t, it’s just a shiny object for no great purpose.
Tweetle-Dee
(tweet of the week)
This tweet from Mark hit home for me. I’ve been there. It’s funny how so many companies say they are family and have a great team, yada, yada. But the minute you choose something different, take on a new challenge, chase a new opportunitiy, that “family” drops you like a double-dipper at a funeral.
The way to build a strong team and a strong customer-base is to commit to the relationship. It doesn’t mean it is perpetual or without its ups and downs. But it does mean you stay focused on it and nurture it along the way.
Something to Consider
Mr. Wonderful is at it again. Yes, Kevin O’Leary recently made headlines for stating the “red flag” that causes him to toss resumes in the trash.
The CNBC article states: “If an applicant’s resume shows them holding multiple jobs over the past two years, I simply put it into the garbage, because we’re not going to look at that person.’”
He goes on to say that a company invests in you and that candidates should — when accepting a job — be prepared to stay for 24 months.
This is where O’Leary and I have a significant disagreement.
Joining a team is a two-way street, but it is not a marriage. Think of it like a dating relationship: Either party can end that relationship at any point. There have been three times in my career where my resume shows three jobs in a 15-month period. For example (dates made up):
Left Job A in April 2010.
Was at Job B from April 2010 - June 2011.
Began Job C in June 2011.
I was at Job A for nearly five years. I that a “red flag"? Absolutely not. I was at Job B for 14 months. Leaving that soon is a red flag? Without asking the question to the candidate? Nope. Not at all. I say that because I have been there.
Twenty-four months is a long time to stay at a place that treats you poorly, is poorly managed, or is just a bad fit.
Loyalty is earned.
What does this have to do with marketing?
It is no different with products. I, as a consumer, may like your product and try it out a few times, but you must earn my loyalty. You must earn my trust. Break it, and I’m probably not coming back.