What you need to know for the week of August 2nd, 2021.
The Postpandemic Board Agenda: Redefining Corporate Resilience
McKinsey & Company
When asked about this year’s agenda, board directors at the most adaptable boards imply they’re shifting away from overall resilience as a topic—the share citing it has decreased 20 percentage points.
Why it matters: According to McKinsey’s survey results, these boards will spend more time looking at the types of risks that can test a company’s overall resilience, including geopolitical and macroeconomic risks (up 19 percentage points since 2020), political risks (up 15 percentage points) and climate-related risks (up ten percentage points).
Three Marketing Lessons From A 19th-Century Horse
In the 19th century, Wilhelm von Osten owned a horse named Hans. Von Osten trained the horse in math problems, answers to which Hans gave via tapping his hoof. The story of Clever Hans provides a valuable lesson for modern-day marketers—if you’re using digital platforms to nurture leads and generate new customers, you should be in a continuous state of experimentation, testing and adjusting based on your learnings.
Why it matters: Other lessons to be learned from Von Osten and his horse include drawing simple, likely conclusions about marketing data before drawing accurate ones and avoiding confirmation bias when studying your data.
Moving The Needle On DEI
Harvard Business Review
Shelly McNamara, head of equality and inclusion at Procter & Gamble, advises those leading diversity, equity and inclusion efforts to get clear on what they aspire to create or do and determine who the change agents will be. To ensure this strategy happens on the ground, McNamara emphasizes the importance of leadership behavior, accountability, and capability and culture.
Why it matters: P&G aims to have its US organization be represented by 40 percent of multicultural employees. And globally, it aspires to have equal gender representation at every level. McNamara notes that for some time, P&G has been doing work for areas such as the LGBTQ community and people with disabilities. It launched a new data platform that expands the data fields so that employees have the opportunity to self-identify, an update that will help P&G determine where it has challenges and opportunities to address.
What Brands Should Know About TikTok’s Ban On Sponsored Crypto Content
TikTok recently issued a ban on influencers promoting cryptocurrencies and cryptocurrency-related financial services through branded content. The ban lumps cryptocurrency, pyramid schemes, bail bonds and get rich quick schemes under the “All financial services and products” category. However, TikTok’s policy permits ads related to the “exchange, management, or investment of virtual funds,” so long as the ads comply with applicable law.
Why it matters: Brands could face suspensions or get locked out of TikTok’s advertising platform if they violate the branded content policy. When sponsoring content, cryptocurrency brands should immediately review, revise and update their influencer agreements, and/or consider other platforms.
Why Jack In The Box Hosted A Comic-Con Afterparty On Discord
To engage attendees of this year’s San Diego Comic-Con, taking place digitally for the second consecutive year to the pandemic, Jack in the Box hosted an afterparty called “Jack’s Late Night Discord” on Discord.
Why it matters: The event saw a total of 5,560 members—more than five times Discord’s benchmark for members on a branded community—and 7,664 users across the entire weekend. In addition, the event generated more than 27,000 messages via several elements.