Accelerating Value
Accelerating Value

Episode · 1 year ago

Honeywell CMO: Your Customers Define Your Value

ABOUT THIS EPISODE

Erica Brinker, Chief Marketing Officer of Commercial Excellence & ESG at Array Technologies, Inc and formerly of Honeywell, brings a perspective on accelerating value based in marketing for a long sales cycle and renewing brand value. She shares the importance of eating your own dog food, as well as a strange call she received from her carpet installers.

We also talked about:

- Why preventative maintenance is better than downtime in manufacturing

- Applying digital transformation logic to marketing

- Reviewing brand value in the light of 2020

- Minimizing risk with marketing

- The intersection of our personal lives with our professional lives

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Today, every budget approval is an investment deal. If you're a marketer, sales or business leader, you had to promise to deliver value and impact. Writing. The wave to get there is hard enough. Finding your way through the storm is even harder. If you're looking for that path forward so that you don't wipe out, you've come to the right place. Let's get into the show. Hey, guys, marks juice with accel. Writing. Value, your weekly podcast and which we talk about all kinds of stuff related to value creation. If you can find another podcast out there that does what we do, I'll pay you ten bucks. Right. So, so it. You won't find them. Right. This is, strangely enough, right now the only podcast and which we bring in all kinds of people from all kinds of functions, many different career paths, and we talk about value, how you create it, how you protected, how you invest in it, how you prove it, all that kind of stuff, and that in the idea here, and many of you who already listen to us every week already know this is that we're getting. We're here to help you think this through. Writ. And there's a bunch of guests here that talk about it from their point of view and our goal is that you will find something inspiring, something interesting and something very provocative about whatever it is that they share with us today. So today is really, really cool. Okay, unusually cool even for this podcast. We have Erica brinker, who is the new CMO of a really super cool part of honey wall. Now, in full disclosure, I hired Erica when I was cemo honey will aerospace, long, long time ago, but anyway, she made a huge impression. Just you. It was like the ultimate cold call email. Basically, this is who I am, this is what I'll do for you, this is how I'm going to change the world and honey well, if you let me in the door, and her track record has totally lived up to the hype. So Welcome, America. Thanks for having me. I don't know if I can live up to that introduction, but I appreciate it. Well, I think you already have the right. I mean, that's that's a pretty accurate rendition of what happened ten years ago. So why don't you tell everybody you'r the you're the new CMO of what exactly? So I'm the CMO of the Honeywell connected enterprise, which is the software business within honeywell, and so we call ourselves the biggest little start up, you know, everything, all things software for our customers. So if you think about the customer base at Honeywell has served for a long time industrials, you're oil and gas. All of those same customers are ones that we are now supplying with software solutions, analytics insights for their assets, their processes and their people. Yeah, so this this was kind of a glimmer in the mind's eye of the Honeywell leadership ten years ago, right, and Dave Cody, who's the former chairman, and cuo funny. Well, this was something that he was really kind of energized around and there was sort of this internal change management effort around this, right. That's right. No, he actually shared something that I didn't I wasn't aware of when I interviewed him a few weeks ago. I didn't realize he actually established the Atlanta ...

Office with that whole software presence. He actually hand picked the office. So I wasn't actually aware of that until the interviewed him a few weeks ago. Yeah, that's true. So he one of the things that he always used to say to me about this, and it was never just like to me. It was always like I was in a meeting with a bunch of other people and he happen to be you know, the top of the table was why are we in the business of arms and legs only when the brain is the most important part? Absolutely not that kind of interesting, right and and somewhat provocative, and I think it was intentionally provocative at the time. So let's talk about that. Is kind of a jump you'se use that as a jumping off point right there. So software creates value by taking what human beings are capable of and scaling it dramatically through automation, through you can also eliminate a lot of human errors. This way you can do there's a lot of things that software can great. Software can do right, not to replace human beings but to augment the decision making capability and the intelligence of human beings. How are you guys thinking about that right now? Right this idea of hybrid, the hybrid piece? Yeah, I think it can be. When you think about I'm just traditional industrial customers. The idea of bringing software can be varied daunting to a traditional manufacturer. But when you think about it, all of the kind of what I what you might consider edge notes. All of the assets, the equipment is already it's been sending off data for a long, long time. It just has been harnessed, and so our software has the ability not only to pull down the data and aggregate it, but because we've understood these industries for, you know, over a hundred years, we also know what to do with it, because lots of analytics firms can just track analytics, but unless you know what those analytics really mean, they don't turn into act actionable insights. And so you talked a little bit about how it Aug meant what the worker can do. When you think about if you could provide actionable insights for a maintenance event, for example, you wouldn't have to have workers with such high skill sets if they were told every next step, or if you were doing preventive maintenance instead of a downtime event. And so all of these things are cost savings, but they're also really hard to prove savings of something that wouldn't happen. So even doing something as simple as baseline data before you take that next step to do something software oriented, I think is an incredible first step and and you can see because there's a cyber attacks have been a very hot topic lately. I can tell you personally I was impacted by it and something silly that I wouldn't have guessed what actually happened. So I'm supposed to get new carpet installed in my home yesterday and the vendor called me and said, unfortunately, we can't come because we don't know where your carpet is, and and I thought that maybe they should explain and they said, we got hit by a cyber attack, so we actually can't locate it. So then they called back a little bit later and they said, well, we found the carpet, but it didn't pass inspection because the cyber attack actually impacted the manufacturing equipment that makes the carpet, and so it's not passing inspection. And so, you know, these are the kinds of conversations that our customers are having with us every day, because they want digital...

...transformation, but they don't want it at the expense of being able to do their business. So when you think about the downtime that this company is now incurring because of a cyber attack because they haven't taken the proper steps, and so well, we try to do is help our customers not only connect their enterprise but also secure it so that you're able to run your business more efficiently and more safely. Absolutely so I would you know, I would just extend this a little bit further and to say that in that specific situation, right, they will also weren't able to charge your credit card for that installation right now when they wanted to. So they're right. There is a direct impact on cash flow. That's right. Right now, they know that you're probably ultimately going to be their customer and that you know, two weeks from now there's going to be new install date, all that kind of stuff. But when you're smaller business, right, they could have really counted on having that cash two weeks earlier. Right, that's right. Real business bottom line impact. Absolutely, I mean it's a I think that a lot of times we are we tend to think about value in terms of creating massive amounts of transformational value, and that certainly happens and it can't be minimized. It's important, but it's also all those base hits. Remember how cody always used to talk about bay singles and doubles? Yeah, that singles and doubles, and that's what he was talking about right it. It also d risks a lot of things when you have a lot of singles and doubles. Yeah, and I think sometimes the digital transformation piece can seem daunting because you think about, okay, do I have to replace t system? Do I need to completely overhaul all of equipment? Do I need to there are all different sorts of things that go through a sea level executive's mind and what we try to assure them is that that's not always the case. We do need to make sure that we are providing small changes. Like you said, those singles and devils can make a big change. In the example I was just using, that happening yesterday. You know, cyber security is a very small step. First step that you can take another another step that you can take is possibly just looking at one part of you know, your assets. Look at one manufacturing site tested out, see how it works, and I think piloting is often underestimated. You can see small changes and then you can figure out, Hey, can we scale this absolutely? How do you how do you apply that same logic path to marketing for anyone? So so in the way that you create value is asynchronous with sales. Yes, so how do you think about it right now? Um, we think about it in a couple ways, because there are some businesses that, especially in the software business, went at the true Stass is shorter cycle a particularly when we talk about building management. That's something that in a matter of hours we can hook up and start pulling down data and show value. But when you talk about oil refineries, that's something where that sale cycle is quite long and in the process is long. So we think about it in a couple of ways. We try to do things short term to try to make sure that we're getting new leads for our sales people. We try to do lead to revenue. We have a weekly dashboard that we're looking at. There are things that we look at daily, like things like search terms. You know, we want to make sure that those search terms are working really hard for us. Is Our programmatic marketing working for us? Is it? Are we making sure that we have the right audience so it is there? Are we over indexing on a particular market? Sometimes...

I'm we might have too much budget. We're realizing that we're getting too many leads that our sales team can't even handle. So we have to make those adjustments on the fly and that's something where it's it takes a lot of care and and the other thing that I'd say that doesn't happen in a vacuum anymore, and especially since sales teams have become much more sophisticated around how to leverage marketing. It's that constant partnership. Are we producing enough leads to keep your inside sales team busy? When a certain kind of profile of a lead comes through? When you talk about lead scoring, do we automatically handed off because it's a customer we've been waiting to hear from? You know, do we handle that one very, you know, with care? It's not just about lead scoring, and so there's all different ways that we look at it. And the thing that I even in hce were we have different LOB's and we're trying to address each of those different products. We really do have a bit of a different approach with each of those because either the level of sophistication with the sales team, the existence of an inside sales team or not, the amount of salespeople that we have in different regions. You know, we don't want to entice customers that have no help of ever being talked to so we want to make sure that we deliver on that promise even in marketing as well. How do you took in the wake of two thousand and twenty? How do you think about the value of brand when it comes to Honeywell's business? I think about it differently than I did three years ago, that's for sure. So when I led the brand campaign, the future shape or brand can't campaign that we launched about two and a half years ago, you know, I think for us it was first in education. The first thing that we did was find out what do people around the world, and not just people, customers, be to be leadership sea level V level? What do they think about honeywell, or do they think of us at all, and if they do, what do they think of us for? And so that baseline survey exercise was incredibly important to us in order to make sure that we understood we're our starting point was because, as we've been making this transition from a pure play industrial manufacturer to a software industrial we wanted to make sure that we were striking the right tone with customers and also that we were beginning to be in the consideration set for our customers when they thought about software and so what we found out is that we were a trusted partner and that we were going to have to do some work to be considered as a software player. And I think some of the things that we've done to bolster our brand is to showcase that places where we've had success in software, we've been driving value for our customers and to make sure that we're really showing those wins and making and making sure that we're driving the value that we're doing in our own business. By the way, we call it dog fooding here. It's a software term. Right. We are trying our own technology and we have it implemented across our building space in our own manufacturing making sure that we're sweating our assets as much as possible. And so we first prove it to ourselves before we go out to customers to make sure it's working as well. And so when you think, when we think about brand now, I think we've done a great job of making sure that we've been consistent on the message but also delivering what we've said we can in terms of a product that really provides value to our industrial customers. Yeah, I'll tell you. I think people undervalue eating their own dog food right and and it hats. It's it has so many different areas of value, but one of the biggest ones, ever, is psychological for the sales teams, and that is that if you've seen it work,...

...it's no longer theoretical to you, right, and you can sell it with a level of conviction. That is fundamentally not possible to do if you don't actually know, right, if you're taking someone else's word for it, right. So it's a very yeah, I really agree with that. So let's let's talk a little bit more about risk. So part of brand, right from from the outside in perspective, is around confidence and trust. Right, I believe that you can do what you say you can do and I believe that that under you know circumstances that where we might not be aligned, you'll still treat me. Well, how do you? How do you think about the way that you do business from the Honeywell side? Okay, and then how do you think about kind of what you're trying to achieve out there? And what? How does? How does so risk could be seen as friction, right, and so like. If you look at the latter part of sales cycles, right, there's a lot of due diligence and risk mitigation. That's happening right there on the part of the prospect right and actually a lot of it, not all of it, but a lot of it is they're trying to do risk the vendor as a choice. How how do you kind of think about all of this when you're putting together a marketing campaign? How do you realize your own risks and then how do you think about your customers risks, as opposed to what a lot of marketers do, which is to think about the upset? Yeah, well, I kind of think of them as two sides of the same coin, because we a little bit. I mentioned piloting, and pilots are the ultimate weapon in d risking anything that you do, whether you're talking about marketing or talking about implementing new software. That the idea of being able to try before you buy, or even you're buying, but you're buying on a smaller scale and then you're seeing if it works and then you can make a go broader. I really like dipping our toe in, finding the unique use case and then really seeing where it works. I think sometimes as marketers we want a one size fits all for everything we do, and that especially in Honeywell, we're highly functionalized. We want something to be able to work for everyone and we do try to find similar tools and ways to be scalable. But at the same time, you know, the same tool doesn't work for different challenges, and so what we often think about is, okay, if we're going to introduce a new technology or if we're going to try a new programmatic marketing tool, what is the actual use case where we think it's ideal and why would it be better than something we're already using? And and you have to think about, well, can we support this? This is is this another person that I have to bring on board in order to be able to do this technology? What's the Roi on it? And so you can start to kind of read the tea leaves by piloting before you you say, okay, we must do this for every single program and and we actually really try not to do that, because what we found is everything doesn't work for every challenge, and so we do try to there. For example, there are some businesses where events and community management are still incredibly important. Even through Covid it's been, you know, these virtual events in this idea of community and being able to talk about the product and experience. The product is really important, and other businesses that has definitely not been the case. It's been much more of how do you make my operation work from a distance, and so we have just found that, depending on how the world has changed a little bit, we've had to adjust with it and just really map out those use cases so that we make sure that we're...

...fitting the right tool to the right challenge. So last question. So this is the the question that we ask every guess pretty much at the end of the podcast, because it's it's really important to acknowledge that we all create value on a very broad front and and the way we do it. Business is just one part of that equation. How do you think about yourself personally in terms of the value that you create for the people around you, for your community, for your family? Are You planful about it? How does it happen and how do you how do you? How are you thinking about this right now, particularly in the wake of two thousand and twenty? Well, I had a baby last year, so covid, a true covid baby, born in Covid, still in covid. So at my my roles changed. You know, I was a teacher. Last year I was on maternity leave and I was teaching my daughter kindergarten. When we ended up moving into first grade, it was okay, we're going to online school. And so your role changes quite a bit because you're the way that you manage your household and the way you manage your job and and how all of us had to be able to coexist in the same house all at the same time provides its own unique set of challenges. I do see my most important job as being the CEO of my house. My stress reliever is cooking for my family. I love to give them Great Food and honeywells afforded me to be able to travel over the world, so I get to make all different things that I've experienced. I love making Indian and Korean, which I have enjoyed in some of my travels and and I like to share. I think the intersection this the Covid is really introduced, the intersection of your personal life and your professional life right. It's it's unavoidable. We've all met each other's chill or now I'm surprised that my baby's not here on camera, but we all have now learned about each other on a different level and honestly, I think it develops another level of trust with the team when they get to know a little bit more about you. And but it also makes it makes it so that work is kind of permeating every part of your personal life too, because your laptops always open. So we continue to struggle with the the balance. But I think as things are starting to return to normal, will start to see people in person and get back to a little bit of a normal balance where you see family at home and you see work people in the office. And but I do think you know, probably travel won't be as much as it was before and and we realized how much we can actually do virtually through tools just like this. I comply agree with that. How do you? I gotta, I got to ask this question. So this is a serious question for a lot of people particular right now. I mean, we talk about work life balance. That was kind of an idea before covid right, worklife integration is probably the more kind of way people talk about it today. I mean, you're a CMO, so you're dealing with it personally, but you're also got teams around the world that are grappling with it where do you think the boundary is between life and work today? How should people kind of yeah, I think that's a really hard question. It's one that I am challenged with myself every day. You know, my attitude with my team and for myself has been if I feel like I'm getting my work done at the level that I think is acceptable and that I'm exceeding my expectations and that my team is is doing well, to me it doesn't matter when the work is getting done. You know, if somebody needs to take their kid, like as I do,...

...to tennis twice a week, I can jump back online later. I don't want to miss those moments. And so I think the ideal outcome is where you feel like you're nourishing both sides of your life. It's, you know, are you making sure that your family knows that you're present and then in your work life, are you getting what you need done? And I think it you do have to be ruthless about priorities at work. It's easy to consider everything a priority. And so what what are the most important things that you need to get done? And and that that's a challenge and that also takes a separate amount of time to even prioritize. You can't just mindlessly go through your Dick your to do list, because you'll find yourself not working on the most important things. And so I think it's probably that ruthless prioritization, taking time to prioritize what's important at home and what's important at work. Yeah, I would really agree with that. So my own experiences a CEO start up is that, you know, ruthless prioritization around what creates value and what has to be done now, because maybe it has a longer time to value, and so every time I delay it on, delaying the value realization even further into the future. Right, super, super important. Erica, thank you so much. This has been just a great conversation, everything I wanted it to be. So I hope you guys really really got a lot out of it. I know I did. Thanks for having me. It was fun. The sooner you can optimize your marketing spend, the quicker you can start delivering clear, measurable value to Your Business. That's exactly where business GPS from. Proof analytics can help learn more at proof analytics DOT AI. You've been listening to accelerating value, where raw conversations about the journey to business impact help you weather the storm ahead. To make sure you never miss an episode, subscribe to the show in your favorite podcast player. Until next time,.

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