Terry Leahy is the least likely person you could think of to plug a new book. He eschews any reference to his personal life, he is a self-declared introvert (‘introverts are more watchful, listen more and are less blown off course’), and is an apologetic self-publicist, choosing to credit the hundreds of Tesco staffers with its success rather than himself.
He is without doubt the nicest man in marketing.
But don’t be fooled. On his watch, Tesco went from a £3 billion UK supermarket to a £30 billion global retail phenomenon. Which makes his book Management in 10 Words something of a precious commodity. Do the math (as his erstwhile colleagues at Fresh & Easy would say) and you’ll calculate that each word of this book is worth £2.7 billion. Retailing at £20, it’ll cost the reader just £2.70 a word. Now that’s the sort of return Jack Cohen would have drooled over when he started selling surplus groceries from his market stall in 1919, making a £1 profit on £4 of sales in his first day.
At the Under the Spotlight event with The Marketing Society at Vinopolis on Tuesday evening, Sir Terry was reluctant to share a plug, but not so a slug at a largely unreconstructed marketing industry. And here it is, not in 10 words, but five sentences:
- Marketing is the voice of the customer in the business. But marketing now needs to step up and fight for the customer internally.
- It’s extraordinary, given the sophistication of data, how many companies are failing to use data to advance their relationships with customers.
- Marketing people are great at external communication but poor at internal communication.
- Too many marketers hide away from the competition when they should be going towards them. Looking at their strengths rather than their weaknesses will enable them to learn more and advance further as a result.
- Marketers can take lessons from the military. Because the thing about military situations is you can’t talk your way out of them. You have to plan, deploy your resources and inspire.
Even Sir Terry’s view on competition veers towards the common good. Competition, he said, brings big business to heel. And in typically unassuming style, he even signed my free copy of his book with ‘Terry Leahy. Thank you.’
Join The Marketing Society Book Club. If you are a member of The Marketing Society you could write a 300-word review for the Marketing Society’s blog. Contact Leah Latimer to get involved. Find out more about the benefits of joining The Marketing Society’s exclusive network.