Extraordinary times call for legendary leadership. In this episode, we talk about why your brand will be defined by what you do during coronavirus. This is a moment of truth. What leaders do in moments of truth define who they become and what happens to our brand.
“I think people are going to remember what you did or didn't do during this crisis. How companies treat humanity during this crisis will have a long term impact.” - Christopher Lochhead
Focus on People
Christopher had been speaking with entrepreneurs about the discussions they should focus on to make a difference during this coronavirus crisis. First is: focus on people.
He shares about an Australian CEO who discussed with his people how they can make the most out of their cash on hand and accounts receivable. Half the people would rather get half of their salary than getting laid off.
“I think legendary leaders are open about these things and talk to the people about them. Try to do it in a way that is humane as possible and that extends your cash runway as possible.” - Christopher Lochhead
Focus on Customers
Now is the time to make a difference with customers. Christopher cites an entrepreneur who runs a gym. Rather than making a decision amongst him and his executive team, he asked their customers, if they want to cancel their subscription, do they want to pay half. A good 80 percent of their customers came back and said “we want to keep on paying you at the full rate.”
In addition, they're doing a lot like what other legendary people in the health and wellness and fitness industry are doing, they are putting a lot of content on the internet.
“By being open real with people, they have endeared themselves to their customers in a very, very powerful way.“ - Christopher Lochhead
Focus on Humanity
What are we doing for humanity? Now is a great time to be radically generous. In fact, the company Dyson produced a new type of respirator in 10 days and have been supplying 15,000 for this pandemic fight.
“We have to ask ourselves what do we have to contribute? It might be money, it might be other things. it might be expertise. In our case, we have a podcast to contribute, so we’re doing that.” - - Christopher Lochhead
To hear more about Christopher’s thoughts on how a company’s action during this crisis will affect their brands, download and listen to this episode.
Bio:
Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.
He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.
Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.
In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.
He also co-founded the marketing consulting firm LOCHHEAD; was the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.
Links:
James Dyson designed a new ventilator in 10 days. He's making 15,000 for the pandemic fight
We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter,Instagram and subscribe on iTunes! You may also subscribe to his newsletter, The Difference, for some amazing content.
