The Informer March 2018 by The Clubhouse

Member in the spotlight Lucy Sharman-Munday, CFO of Eagle Eye, on connecting with customers

Influencer marketing Expand your audience with multi-platform marketing and positive engagement

T h e

I n f o r m e r Issue 14

March 2018

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INSIDE THE MIND OF A LEADER Ever wondered why some leaders succeed where others fail?

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INTRODUCTION

ADAM BLASKEY FOUNDER & CEO The Clubhouse

W e l come As we come towards the end of the first quarter of 2018, perhaps it’s too early to recap progress of 2018 to date, but for many the optimism of a new year has quickly given way to pessimism and caution. Record highs for the FTSE and other benchmark indices seen in January have been eroded and increased volatility has returned with some markets down 5% year to date. With the path to Brexit still unclear, and interest rate increases expected by the middle of the year, the coming months could see some bumps in the road. However, my glass is always half full as I am sure yours is. In running any business, there are always hurdles and challenges along the way, which is why the key attribute of almost every successful business leader is a growth

mindset – where determination and tenacity shine through. So in The Informer this month, Louise Chester of Potential Project unlocks the secrets of good leadership on page 4. Having just published ‘The Mind of The Leader’, we are delighted to be hosting a half-day leadership masterclass in conjunction with Potential Project on Wednesday 21 March (please see page 6 for further details). So having mastered leadership, the next thing we need to do in growing our businesses is to market our products and services. For those who did a business or marketing degree many years ago, the rules have changed, and if you haven’t already, it’s time to take a close look at your marketing mix. On page 7, we have a feature on Influencer Marketing,

following an extremely well-attended members’ breakfast that we hosted last year. Who are the influencers that will achieve high engagement rates for your business? Continuing this theme, our member in the spotlight this month is Lucy SharmanMunday, CFO of Eagle Eye, a SaaS digital marketing platform which provides solutions to leading retail and hospitality businesses around the world. I hope to see you at one of this month’s events – either the leadership masterclass on 21 March, our evening with Phil Popham, CEO of Sunseeker on 22 March or at our next members’ breakfast in partnership with Mishcon de Reya on 27 March. Details of all of these events are on page 6.

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LEADERSHIP

1. Do Employees Really Know What’s Expected of Them? Rigoni & Nelson, Business Journal Sept 2016 2. Why Frontline Workers Are Disengaged. Bazigos & Caruso, McKinsey Qaurterly March 2016 3. Megan Casserly, Forbes, Oct 2012 4. Bersin by Deloitte, Aug 2015 5.“Do MBAs make better CEOs?”, H. Mintzberg and J. Lampel, Fortune, 19 February 2001 and “MBAs are more self-serving than other CEOs” Harvard Business Review (Nicole Torres, , December 2016 6. Journal of Business Ethics, 2017 DOI :10.1007/s10551-017-3450-5 7. Nature Reviews Neuroscience volume16, pages 213–225(2015)

DEVELOPING THE MIND OF THE LEADER

his month, Harvard Business Review Press In one study5, researchers compared the publishes our latest book, ‘The Mind of The organisational performance of 440 CEOs who had been Leader’. In it, we share research showing that celebrated on the covers of magazines like BusinessWeek, 86% of leaders rate themselves as inspiring and good Fortune, and Forbes. The researchers split the Want to know role models, but 82% of those they lead disagree1. CEOs into two groups — those with an MBA and Only 13% of the global workforce is engaged, those without one — and then monitored their why some leaders while 24% is actively disengaged2. And 65% performance for up to seven years. Surprisingly, succeed where others of US employees surveyed would forego a pay the performance of those with an MBA was rise if it meant their leader would be fired3. significantly worse. Another study, published fail? Louise Chester And this is despite over $46bn being spent in the Journal of Business Ethics6, looked at the of Potential Project globally on leadership training every year4. results of more than 5,000 CEOs and came to a unlocks the secrets So, what makes for good leadership in the 21st similar conclusion. Fortunately for all of us, selfcentury? Peter Drucker hit the nail on the head awareness can be enhanced. Simple steps can be taken of good leadership when he observed that, ‘You cannot manage other to complement one’s traditional leadership skills with it: people, unless you learn to manage yourself first’. Based on our extensive research with tens of thousands of Adopt a mindfulness practice leaders, like Drucker, we believe that leadership starts with ourselves Research published in Nature Neuroscience has found that a short and, more specifically, it starts with our mind. By understanding daily mindfulness practice leads to changes in the structure and and leading ourselves more effectively, we can understand others function of the brain that enhance self-awareness. In our work with and be able to lead them more effectively, and then we can better a global IT company from Silicon Valley, we found that even just five understand and lead our organisations. weeks of 10 minutes of daily mindfulness training enhanced the Bill George, professor of leadership at Harvard Business School participating leaders’ self-awareness up to 35%. and former CEO of Medtronic, teaches that self-awareness is the starting point of leadership. Self-awareness is the skill of being aware Take regular breaks of our thoughts, emotions, and values from moment to moment. When we come under pressure, we default to doing what we have Through self-awareness, we can lead ourselves with authenticity always done. We resort to habitual thinking and behaviour. There is and integrity — and in turn better lead others and our organisations. not much awareness in that, and little space for understanding yourself This is borne out in our research with over 1,000 leaders in more or the people you lead. Taking regular short breaks, of even just one than 800 companies in over 100 countries. We found that leaders minute, gets you out of habitual thinking and behaviour. It provides at the highest levels tend to have better self-awareness than leaders you with space for awareness to arise and to see things clearer. lower in the hierarchy. This could be because stronger self-awareness accelerates the promotion process, or because we’re nudged toward Pay real attention to what others say enhancing our self-awareness as our leadership responsibility increases. When we are busy, our brains default to pattern recognition. It wants But self-awareness is not part of the standard curriculum in most simplicity. And when others talk to you, your brain will automatically management education programs. Many large-scale studies have look for what it has heard before and eliminate what is new. That way found that leadership based solely on MBA-trained logic is not you won’t hear others’ concerns and opinions, and you won’t have the always enough for delivering long-term financial and cultural results, finger on the cultural pulse. Be open. Be curious. And question and that it is often detrimental to an organisation’s productivity. your assumptions. ●

BASED ON OUR EXTENSIVE RESEARCH WITH TENS OF THOUSANDS OF LEADERS, WE BELIEVE THAT LEADERSHIP STARTS WITH OURSELVES AND, MORE SPECIFICALLY, IT STARTS WITH OUR MIND 4

Meet. Work. Grow.

MEMBER STRAPLINE IN THE SPOTLIGHT

LUCY SHARMAN-MUNDAY CFO Eagle Eye

An ey e f or b u si n e ss Tell us about your company and how it started. Eagle Eye has a SaaS digital marketing platform that enables businesses to create intelligent, real-time connections with customers. Our platform, Eagle Eye AIR, supports coupons, loyalty, stored value, and its deep integration to the point of sale (POS) enables real-time connection. Our current customer base comprises leading names in UK grocery, hospitality and retail, including John Lewis, Asda, Greggs, J Sainsbury, JD Sports, Ladbrokes, Marks & Spencer, Mitchells & Butlers, Pizza Express, Tesco, Thomas Pink, and Loblaw in Canada. What has been your biggest success to date? Winning our flagship client in Canada, Loblaw, the coutry’s largest retailer, generating C$46bn in revenue and operating over 2,500 stores. They have merged two existing loyalty programs, PC Plus and Shoppers Optimum, which had eight million and 11 million members respectively, to create one loyalty program, the first of its kind at such scale and one of the largest in Canada. The Eagle Eye AIR platform sits at the heart of the PC Optimum program ecosystem and is integrated with Loblaw’s channels and systems, enabling a single customer view. The program enables omni-issuance and omni-redemption of promotions and rewards its many locations and provides Loblaw customers with value, choice and convenience through personalised offers.

What project are you most excited about right now? There are a lot of exciting things going on at the moment, including some really interesting uses of our platform in flight in the UK. Diageo are using it to create a campaign that allows a Gordon’s Gin offer to be issued to commuters if there is a train delay – to be redeemed in one of our connected pubs. Also, our first campaign went live with Google for ‘Visa tap & win’ in October 2017. This enables new Visa and Android Pay users who tap to pay at any location to earn a chance to win instant prizes. These include vouchers up to £50, redeemable at five Eagle Eye participating merchants – Greggs, Casual Dining Group, Mitchells & Butlers, M&S and Pizza Express, proving the power of the Eagle Eye merchant network to both Google and merchants. How has being a member of The Clubhouse contributed to the success of your business? The Clubhouse has enabled us to have a flexible, convenient London base. Its style and professional approach makes it an awesome location for hosting clients, creating the right impression to match our brand. Where can members find you? Usually The Clubhouse, St James’s, but now Bank has opened, it is super convenient for my City meetings and the views are amazing! eagleeye.com

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QUICK-FIRE ROUND

Favourite place to go in London? My latest obsession is high-energy spin with some mindfulness that I got hooked on from being in Canada – Psycle, Mortimer Street… worth a try! Who inspires you and why? It’s not one person but the type of person. People who have knocks and get back up, stronger the next time. Best bit of advice you’ve been given? Be kind… If you were on a desert island, what would you bring? Water, knife, mirror – get me off there asap! Which super power would you like to have? ‘Animal Manipulation’ – I love dogs and their love for life borne from simple but important things… balls, walks, food and love. What is the worst business ‘faux-pas’ you’ve committed? A client calling me by the wrong name and not correcting them… got me into a whole world of trouble…

EVENTS

The Clubhouse

ST JAMES’S

Phil Popham, CEO of Sunseeker International THURSDAY 22 MARCH 6.30 pm - 8.30 pm FREE FOR MEMBERS £25 FOR NON-MEMBERS Prior to joining Sunseeker as CEO three years ago, Phil was group marketing director at Jaguar Land Rover, the business he joined as a graduate trainee in 1988. Phil was instrumental in the recent growth of Jaguar Land Rover – undoubtedly a major UK-based automotive success story – and has since turned around Sunseeker, returning the business to profit and with a forward order book of £250m on the back of new yacht launches. Having been at the helm of two of Britain’s most successful and globally recognised premium brands, this is an evening not to be missed!

The Clubhouse BANK

Leadership masterclass: developing the mind of a leader WEDNESDAY 21 MARCH ARRIVAL AND BREAKFAST: 8.30 am START: 9.00 am END: 12.30 pm £95+VAT FOR MEMBERS £145+VAT NON-MEMBERS 20% DISCOUNT FOR JOINT BOOKINGS OF TWO OR MORE COLLEAGUES FROM THE SAME ORGANISATION.

SA V E THE DA TE

Phil Popham

Jonathan Berman

Are you looking to gain the selfawareness, clarity, focus and resilience needed to be a more effective leader? Being a leader in today’s fast-paced, everchanging, ‘always on’ corporate world means the ability to maintain awareness of self and others is constantly under siege. ‘The Mind of The Leader’ reveals ground-breaking research on the powerful mind-training practices and leadership strategies that you can develop to sustain high levels of awareness, clarity, focus and calm in this environment. Major organisations like Google, Ogilvy, LEGO, Danone and Accenture are increasingly leveraging powerful leadership and resilience programmes created by Potential Project to help their leaders not just survive, but truly thrive in today’s business environments. Discover how to become a better leader in this highly practical, half-day leadership masterclass by learning strategies and techniques to: 1. lead yourself by taking charge of your attention, maintaining focus and delivering results

Managing shareholders agreements & disputes THURSDAY 27 MARCH 8.00 am - 9.30 am FREE TO MEMBERS AND THEIR GUESTS Being in business with other shareholders brings both opportunities and risks, and planning ahead can make the difference between success and failure. This breakfast run by Jonathan Berman, corporate partner at Mishcon de Reya, will explore common scenarios experienced by co-founders and how watertight shareholder agreements can ensure that you and your business are protected from any disputes further down the road, as well as give tips on how to resolve boardroom and shareholder disputes should they arise.

2. move from mindless busyness to mindful business by overcoming action addiction, leverage neuroplasticity through understanding how the brain can be shaped and changed 3. develop the ability to remain in the eye of the storm, switching off the cognitive clutter, focusing on the essentials only 4. preserving and generating mental energy through enhanced self-awareness, change behaviours and develop others based on an understanding of the neurological realities of feedback 5. communicate and delegate so people will engage and act Louise Chester, managing director of Potential Project UK, and Daniel Stane, renowned mindful leadership expert and consultant to many FTSE250 organisations, are delivering this dedicated leadership workshop and will draw on their senior careers in both financial markets and industry.

Includes a complimentary copy of ‘The Mind of The Leader’ by Rasmus Hougaard and Potential Project (published by Harvard Business Review Press, March 2018)

HOW TO BOOK: VISIT THECLUBHOUSELONDON.COM OR ASK AT THE FRONT DESK

Meet. Work. Grow.

= MARKETING

Influencer marketing

f you haven’t considered the true influence that Instagram, Snapchat or YouTube could be having on your business, it may be time for a rethink. No longer just the home of Kardashians and Zoellas out to milk the masses, social media platforms have become some of the biggest ‘small’ billboards for brands, with power houses such as Cartier and Tag Heuer using influencers to engage with new audiences, particularly millennials. Rather than seen as purely for pushing fashion or celebrity, influencers are the new ad revenue stream for luxury brands and millennials the new target – a 2017 study by consultants Bain indicated that they already make up 30 per cent of luxury consumers. Instagram is a community of 800m people posting and liking one another’s photos, and 75 per cent of Instagram’s users said they had been inspired by a post to take actions such as visiting a website or buying something online, according to a 2015 survey quoted by the Financial Times. An expert and trailblazer in this field is Oliver Billon. In 2009, he founded Ykone, an influencer marketing consultancy, when he was 24. With Chanel, L’Oreal and Dior all on board as early clients, Billon has created experiences for influencers to showcase products on their feeds and boost their engagement. As social media has matured, so has it’s audience and now a wealthier customer is a regular user and well within reach.

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Expand your audience with a marketing strategy that reaches across traditional advertising It’s not all about mass likes and follows however. Mr Billon explained at a breakfast at The Clubhouse last year the importance of focusing on ‘achieving high engagement rates (above 5 per cent) in likes, comments and shares’ and added that often micro-influencers (those with fewer than 50,000 followers) offer higher levels of engagement. ‘It’s peer-to-peer marketing. Influencers may not be our friends, however they are constantly present when we look at our social media feed.’ Trust and transparency are key attributes of a successful influencer who generates positive

Trust and transparency are key attributes of a successful influencer who generates positive engagement

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engagement. Declaring when something is an ad or sponsored post is becoming common good practise and happily accept by influencers and consumers alike. This openess maintains intimacy in the relationship, resulting in many of us feeling we really ‘know’ the influencers we follow. Therefore, the natural next step is to meet the Instagrammers and bloggers who ping into our lives on a daily basis. Sheerluxe, one of the UK’s leading online fashion and lifestyle publishers, has a 360-degree digital presence on various platforms including YouTube and Instagram, via podcasts, daily email newsletters and strong engagement on their website. Founder Georgie Coleridge Cole personally picks and champions influencers who she believes her readers will love. Such is the success of Sheerluxe that they have created an annual fashion event at The Clubhouse where their readers can meet their favourite influencers in the flesh, who attend the day and present talks and seminars. In this new world where influencers have such power, there’s one word of caution: overkill is a risk so it’s important for companies to keep a balance and connect through a variety of channels, old and new. Combining a strong social media campaign with traditional advertising where the brand can remind its audience if its core value and identity is the holy grail. ●

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