The Marketing Iceberg: Building Strong Foundations Before Communication
In this episode of Spotlight on Marketing, host Karen Lloyd sits down with Richard Levy, a seasoned marketing expert with over 20 years of experience working with companies ranging from household names like MoneyGram and Santander to startups. As a marketing leader across UK, EMEA and North America, Richard has consistently built and managed high performing teams that have driven outstanding commercial results.
Richard shares insights from his journey, discussing the intersection of brand and performance marketing, and the differences between corporate and start up marketing approaches.
We delve into the valuable commercial impact of marketing alongside the critical role of financial metrics in engaging effectively at C-suite level to ensure that marketing has the place at the table it deserves.
EPISODE OUTLINE AND HIGHLIGHTS
[00:24] Introduction to Richard Levy
[01:16] Atomic Habits & Productivity
[03:01] Marketing's Strategic Core
[04:04] Corporate vs Start-up Marketing
[06:12] Case Study
[09:00] Investment & Early-Stage Business
[19:13] Marketing & Finance Alignment
[27:29] Future Outlook
COMMUNICATIONS ARE JUST THE TIP OF THE MARKETING ICEBERG
Richard challenges a common misconception in marketing, emphasising that communications - often seen as the face of marketing - represents merely 8% of the discipline.
As he explains, "What a lot of people think marketing is, including many marketers, is that communication side of life... I would argue strongly that that's about 8% of marketing. So there's 92% of marketing which has nothing to do with the communications element."
This metaphorical iceberg has communications as its visible tip, whilst the crucial 92% lies beneath the surface. The submerged portion encompasses the strategic elements that truly drive business success: market segmentation, targeting, positioning, pricing strategy, customer journey mapping, and product development.
Drawing inspiration from marketing thought leaders like Byron Sharp, Mark Ritson, and Helen Edwards, Richard emphasises that these foundational elements are "the far more interesting and rewarding bits of marketing." The strategic underpinning requires marketers to deeply understand their market, identify genuine customer needs, develop compelling value propositions, and create effective pricing strategies before any communication begins. When marketers have this 'aha moment' about the true scope of marketing, they begin to appreciate the discipline's depth: "Goodness me, this is a discipline, there's a lot to it."
This realisation transforms marketing from being perceived as merely a promotional function into its rightful place as a comprehensive business discipline that drives commercial success.
MARKETING METRICS THAT MATTER: BEYOND VANITY NUMBERS
Whilst many marketers focus on metrics like website traffic and impressions, Richard emphasises the importance of tying marketing efforts directly to commercial outcomes. As he pointedly states, "Who cares if we had two and a half million impressions?" What truly matters is how many people went on to buy the product or use the service.
He advocates for focusing on three key areas depending on business maturity:
Customer Acquisition - particularly crucial for growing businesses needing to expand their customer base
Revenue Growth - essential for businesses focused on expanding market share
Profit Margins - particularly important for mature businesses where bottom-line growth is paramount
The key to success lies in speaking the language of the C-suite. Rather than presenting marketing-centric metrics like website visits or social media engagement, marketers should focus on metrics that demonstrate clear business impact, such as:
Customer lifetime value
Increased basket sizes
Reduced cost of acquisition
Improved customer retention rates
This approach helps build credibility with CFOs and other executives who are primarily concerned with bottom-line impact. As Richard notes, "Marketing has a really bad reputation at times for not being commercial enough." To counter this perception, marketers must understand fundamental business metrics - from profit and loss statements to balance sheets and cash flow formulae. This financial literacy enables marketers to better demonstrate their value and align their activities with the broader business objectives that drive boardroom discussions.
By focusing on commercial outcomes rather than vanity metrics, marketers can better position themselves as strategic business partners rather than just tactical executors of campaigns. This shift in perspective is crucial for earning the respect and support of senior leadership, particularly the CFO, who Richard suggests should be "the marketer's best friend in an ideal world."
TODAY’S GUEST
An MBA level qualified marketer, Richard has proven commercial abilities and international experience; he is an expert at growing exceptional brands across all marketing channels, experience and touchpoints.
As a marketing leader across UK, EMEA and North America, Richard has consistently built and managed high performing teams that have driven outstanding commercial results.
He combines brand and performance marketing to create growth. An expert of marketing effectiveness by mixing knowledge of strategy developed at Blue Chip organisations such as GE, Santander and MoneyGram with the flexibility, innovation, and tactical acumen required at smaller companies. Achieves both short and long term financial results.
You can connect with Richard on LinkedIn or at Sophera Marketing
OUR HOST
Karen Lloyd is a passionate marketing head-hunter and recruitment expert specialising in marketing and C-suite in the technology sector. With over 25 years of experience in the recruitment industry, Karen brings a unique depth of expertise that sets her apart from most recruiters.
Over her career, Karen has accumulated a wealth of experience that includes serving as a Board Director and being actively involved in growing a business for 13 years. Karen has been a part of five start-ups, giving her first-hand knowledge of the critical importance of hiring the right people.
Currently, Karen is the founder and Director of Armstrong Lloyd. She leads a very special team that partners with businesses and empowers them to build industry-leading marketing teams for some of the most exciting B2B technology brands - from small agile and disruptive start-ups to global giants providing a wealth of product and service offerings.
