{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"33: How Avaya's CMO Marketed Through Chapter 11 ","description":"Filing for Chapter 11 bankruptcy protection is not exactly a CMO\u2019s dream situation. In fact, if handled poorly it could be a career-ending nightmare not to mention the potential reputational damage to the company. Fortunately for Avaya, which filed for Chapter 11 in January of 2017, CMO Morag Lucey provided the kind of courageous leadership that leaves one both awed and inspired. Lest you think we are exaggerating, have a listen to this episode and you\u2019ll want to join the Morag Lucey fan club with us. On the podcast, Lucey explains how she helped Avaya weather the storm and come out all the stronger. Here's what you'll learn: How to present a strong business narrative. How to keep your message simple\u2014even in turbulent times. How to draw up a real vision of the future. How to communicate with your employees. There was nothing fundamentally wrong with Avaya when it filed for bankruptcy; Earnings before interest, taxes, depreciation, and amortization (EBITDA) were high, and the brand maintained a healthy reputation. The culprit for Avaya\u2019s Chapter 11 filing was its $6 billion debt. When the deficit grew too large to handle, the company needed to restructure itself financially. Lucey, who was in charge of managing internal communications in regards to the bankruptcy filing, aspired to preserve Avaya\u2019s image and address any worries about the brand\u2019s stability. She managed the process by explaining the situation to Avaya\u2019s customers, affiliates, and employees on a regular basis. \u201cWe met [with our constituents] daily and talked about the narrative of what was happening to us and why it was happening,\u201d says Lucey. \u201cAnd on the other side, we also balanced that with all of the positive that was happening.\u201d Lucey made it perfectly clear that Avaya had no intention of going belly up. On the day Avaya filed Chapter 11, the company was already working on a campaign to show that nothing was wrong with the service it offered. \u201cThe key is the stories that we tell,\u201d says Lucey, \u201cand the customers that continue to rely on us to provide that experience that is outstanding\u2026this was just a debt issue. We [could] still execute in terms of serving the market.\u201d Openness was the key to Lucey\u2019s communication strategy. From holding regular meetings to promoting CEO video communications to distributing employee newsletters, Avaya used a variety of mediums to keep its workers in the loop in regards to the impending changes.  The brand used storytelling to send the message they sought to get across. Avaya wanted to let its employees and customers know that bankruptcy wasn\u2019t the end; it was a new beginning. Lucey explains, \u201cIt was very much a story about the future. We had to bring the past to the future, and so we really did write the narrative of where we\u2019ve been and where [we are] going.\u201d For Lucey, storytelling is more than a means of keeping customers and employees at peace; it\u2019s a mechanism to reach clients emotionally. \u201c[What we do is] not just communications for companies to make big profits,\u201d she says. \u201cIt's really about the connection between people and it's creating a world in which we can have more time to spend doing the things we want to do, while we seamlessly interact and communicate with all the things that we have to do because it's mandatory in our life.\u201d Business can be a welcomed, integrated part of life. Even though Lucey was able to safeguard Avaya\u2019s image in the face of bankruptcy and keep it going strong, she understands that her brand has to keep evolving to remain vigorous. She believes change is always imminent in marketing, and every CMO needs to be a \u201ccatalyst for change\u201d to stay ahead of the curve. Lucey says, \u201cToday, if you don't look at transforming your marketing organization and really focusing on how the technology delivers to the customers in a way so they want to consume it, you're going to be left behind.\u201d Success today doesn\u2019t necessarily equate to success tomorrow. Be ready when the call for innovation beckons. (These show notes were prepared by Jay Tellini.) ","author_name":"Renegade Marketers Unite: Top Rated Podcast for CMOs","author_url":"http:\/\/renegademarketing.com\/podcast","html":"