Why clueing in the CEO matters to the success of a web site

Even though a multi-channel retailer’s web store might be producing stellar results, senior management still might not be taking full notice. Prudent e-commerce managers need a comprehensive strategy to keep the CEO fully updated on the Internet department’s progress and key statistics, Matt Corey, vice president of marketing and e-commerce at The Bombay Co., will tell attendees at the Shop.org 2004 Annual Summit in Anaheim, CA, next week.

The main reason for crafting such a strategy isn’t to advance a self-serving manager’s career. Instead, keeping the CEO or the organization’s appropriate senior executive constantly informed of e-commerce progress will help accelerate multi-channel retailing programs, Corey says.

Most e-commerce managers know by now that the Internet plays a key role in identifying new and repeat customers and converting sales across all channels, including the web, stores and catalogs. But busy CEOs, especially those running multi-billion dollar chains and catalog companies, might not, he says. By keeping them up to date with relevant statistics and meetings, reports and presentations that don’t overwhelm them, e-commerce managers can help ensure that the Internet remains a focal point of the company’s multi-channel program—and secure help to obtain additional resources when needed.

“It really helps to have a champion and somebody who truly understands the importance of e-commerce within the executive office,” Corey says. “This panel discussion and session will brainstorm ideas to help e-commerce managers make that happen.”

At Bombay, which had 2003 web sales of around $17 million, Corey keeps busy senior executives informed with relevant statistics such as the fact that Bombay’s e-mail marketing database has increased in the past several years from 20,000 names to more than 600,000 or the fact that monthly web traffic is now as large as foot traffic for an entire division of bricks-and-mortar locations.

“If all you have time for is an elevator pitch, then the pitch needs to present information that’s relevant, meaningful and sums up the ongoing importance of what your department is doing to achieve overall multi-channel objectives,” Corey says. “You have to put your department in the right perspective.”

Corey will be moderating a panel discussion entitled “Communicating Up and Out—How Bricks and Clicks Retailers Sell the Impact of the Internet to Senior Management” at 9:45 a.m. on Thursday.