< Previous30 CEO MIDDLE EAST APRIL 2024 efining your business goals and marketing strategy is essential for any busi- ness with big growth ambitions, but synchronising the two is where the magic happens. Business goals are a target of what a company wants to achieve within a set timeframe, and a marketing strat- egy is a plan for promoting a brand’s products and services to a defined audience. To put it in simple terms, without being on the radar of your audience, you’re not going to reach your business goals. The two should be intrinsically linked, with the success of one impacting the other. The benefits of alignment Marketing is more than just writ- Marketing is more than just writing clever content and eye-catching imagery, and when your marketing strategy harmonises seamlessly with your business goals, there are several benefits WHY IT’S ESSENTIAL TO ALIGN YOUR MARKETING STRATEGY WITH YOUR BUSINESS GOALS A marketing strategy is a plan for promoting a brand’s products and services to a defined audience BY MANPREET SINGH, CEO OF BOBBLE DIGITAL D MARKETINGMARKETING APRIL 2024 CEO MIDDLE EAST 31 ing clever content and eye-catching imagery, and when your marketing strategy harmonises seamlessly with your business goals, there are several benefits. You’ll likely see an increase in efficiency because resources are being channelled directly towards reaching goals and objectives. Another benefit of alignment is improved communi- cation and focus, ensuring that each marketing project points towards reaching your business goals, company mission and values and that employees are all singing from the same sheet. It also facilitates better connections with your target audience and customers, meaning you can target and segment your audience better and evaluate your efforts so you can make informed deci- sions about future marketing. Importantly, aligning the two will give your brand greater consistency across all departments, which paves the way for business growth. Growth doesn’t always relate to an increase in the number of products or services your audience buys, and can look different for every business. Growth might mean improving your prod- ucts or services, selling them to new markets, investing in recruitment or securing new funding. Creating a marketing strategy that considers business goals So, how do you create a marketing strategy that considers business goals? Your marketing strategy should in- clude a concise summary of your busi- ness goals, market research, customer personas, competitor analysis, key messaging, key marketing channels and KPIs, as a minimum. Remem- ber that each key marketing channel will need strategy development. So, your marketing strategy is the overall marketing plan, but a separate social media strategy, PR strategy, and digital advertising strategy, for example, will still need creating. You should aim to create an able, Relevant, and Time-bound - for marketing initiatives ensures alignment with broader business objectives. It also helps to revisit your strategy regularly and adjust based on evolving business landscapes and market dynamics. The way you track and meas- ure your marketing activity is just as important as doing the actual market- ing. This is because these KPIs that you set will indicate the effectiveness of your promotional efforts and will show you what is and isn’t working. Be conscious that the impact of some marketing activities is instant, but others require a long-term, consistent approach in order to achieve outstand- ing results. By synchronising efforts towards common objectives, businesses can maximise efficiency, enhance com- munication, and forge stronger connections with customers. The key takeaway here is to ditch the slap/dash approach with your marketing and ensure each aspect is carefully planned and executed to reap the benefits for your business. agile strategy that allows you to pivot around external and economic factors that are outside of your control but may impact your business. Carrying out a SWOT analysis can reveal valu- able insights into internal strengths and weaknesses and external opportunities and threats to help you form a robust marketing strategy. Additionally, some people find that setting SMART goals - Specific, Measurable, Achiev- “GROWTH DOESN’T ALWAYS RELATE TO AN INCREASE IN THE NUMBER OF PRODUCTS OR SERVICES YOUR AUDIENCE BUYS, AND CAN LOOK DIFFERENT FOR EVERY BUSINESS” The way you track and measure your marketing activity is just as important as doing the actual marketing, says Manpreet Singh32 CEO MIDDLE EAST APRIL 2024 soft, Nvidia and Tesla) world’s largest technology companies by market capitalisation. As savvy investors assess the landscape, it’s useful to delve into the factors driving this sustained outper- formance – Tesla aside – and explore potential shifts in the broader market. Tech stocks are now perhaps the powerhouse of the global stock mar- ket, with US tech giants contributing a substantial two-thirds of its over- all market value, and more than 40 percent of the entire US stock market. The Magnificent Seven make up an all-time-high 28 percent of the whole S&P 500 index. They have surged in price by over 50 percent the past year As savvy investors assess the landscape, it’s useful to delve into the factors driving this sustained outperformance and explore potential shifts in the broader market US TECH STOCKS – WILL THE BOOM CONTINUE? Tech stocks are now the powerhouse of the global stock market, with US tech giants contributing a substantial two-thirds of its overall market value BY BEN LAIDLER, GLOBAL MARKETS STRATEGIST AT ETORO T INVESTMENT ech stocks – especially US tech stocks – are sustaining their impressive run from last year, and remain standout performers. This performance has been con- centrated in the “Magnificent Seven,” (Apple, Amazon, Alphabet (Google), Meta Platforms (Facebook), Micro-INVESTMENT APRIL 2024 CEO MIDDLE EAST 33 versus a single digit return for the rest of the US benchmark index. This concentration and outperformance underscores the sector’s pivotal role. Their stellar performance can be attributed to two major drivers. First, they have assumed the role of ‘new’ defensives in an uncertain world. Investors seeking stability are turning to tech stocks as a new form of defen- sive investment due to their unique characteristics and ability to navigate challenging economic conditions. Tech stocks, with their strong financial positions, adaptability, and innovative capabilities, have become a source of safety for investors. With high profit margins and net cash bal- ance sheets, tech companies deliver resilience even in unpredictable eco- nomic climates. Secondly, these companies are posting strong growth, capitalising on secular tech adoption trends, advance- ments in artificial intelligence (AI), and the relentless pursuit of cost-cut- ting measures. The Magnificent Seven grew earnings 50 percent last quarter, versus the -10 percent profits fall for the other S&P ‘493’ stocks. Tech stocks are poised to main- tain their pole position as techno- logical shifts, such as the mainstream adoption of AI and the turning of the smartphone cycle, unfold. The integration of AI into various indus- tries and the evolving landscape of consumer technology squarely place these companies at the forefront of innovation and growth. But will the tech stock rise con- tinue? Despite the dominance of The Magnificent Seven, forward-looking investors should anticipate a broaden- ing of stock market performance. This outlook is tied to forecasts of a global economic soft landing (which would see a measured, controlled global economic slowdown) and potential interest rate cuts. The dramatic increase in inter- provide significant relief to profits. Those most sensitive to this macroeconomic shift are not the big tech giants. But rather cheaper, smaller, and more cyclical stocks – think financials, real estate, industrials, and small caps. Assets with the more depressed earnings, and lower valua- tions, that would benefit most from a better economic outlook. Investors eyeing diversification may therefore find opportunities beyond big tech. Assets such as those listed above are expected to gain prominence, and it’s worth noting that they constitute more significant proportions of Europe and emerging markets than their counterparts in the States. As the investment landscape evolves, a subtle rotation out of big tech could yield significant results. We may see a gradual shift or adjust- ment in investment portfolios where investors reduce their exposure to big tech stocks, driven by a host of factors including already high valuations, changing market conditions, econom- ic outlooks, or perceived opportuni- ties, for example. A shifting investment focus towards cheaper, smaller, more cyclical assets offers the potential for diversification and capitalising on emerging opportunities. In 2024, while tech stocks contin- ue to dominate for now, astute inves- tors must be attuned to the winds of change. Current global market fore- casts are creating a landscape ripe for diversification. Exploring opportuni- ties beyond big tech into the realms of smaller, more cyclical assets, and markets outside the US, could be a strategic move in the evolving narra- tive of the global market. And keeping a keen eye on emerg- ing trends, and maintaining a diversified portfolio remain key tenets for investors navigating the complexities of the ever- changing investment landscape. “CURRENT GLOBAL MARKET FORECASTS ARE CREATING A LANDSCAPE RIPE FOR DIVERSIFICATION” Investors eyeing diversification may find opportunities beyond big tech, according to Laidler $25.6 trillion The total market capitalisation of listed companies in the New York Stock Exchange (NYSE). It is the largest stock exchange in the world by market capitalisation est rates in the past year has boosted company borrowing costs and put pressure on consumer spending. This has led to a sharp drop in profits for many companies. But if US and Euro- pean interest rates are significantly cut in 2024 and economic growth starts to recover, as we expect, this would 34 CEO MIDDLE EAST APRIL 2024 n today’s interconnected landscape, every post, an- nouncement, comment, reaction, or quote leaves a footprint. Just as fossils serve as echoes from an ancient past, today’s modern digital fossils offer customers, employees, recruits, and partners a window into a company’s purpose, behaviour, ethics, values and operational evolution. These digital traces, which are being added to by the minute, set the foundation of a brand’s reputation, its adaptability to market changes, its com- mitments and what it stands for, beyond making money. Just as paleontologists piece together stories from remnants of bygone eras, today’s stakeholders increasingly determine their opinion of an organisation from its digital legacy. Effective communication must sit at the heart of every successful enterprise and it’s the responsibility of leaders to consistently lend their voice to provide emotion, authenticity and perspective WHY LEADERS SHOULD EMBRACE BEING THE HUMAN VOICE OF THEIR BUSINESS When leaders communicate with sincerity and showing their human side, they create a genuine connection with their audience BY PETE JACOB, MANAGING DIRECTOR OF CURRENT GLOBAL MENAT I LEADERSHIPLEADERSHIP APRIL 2024 CEO MIDDLE EAST 35 Effective communication must sit at the heart of every successful enterprise and it’s the responsibility of leaders to consistently lend their voice to provide emotion, authenticity and perspective. A recent study found that 82 percent of consumers make purchase decisions with a brand’s purpose in mind. The study found that when a brand acts with purpose it connects with humans on an emotional level, while a brand that is merely functional connects only on a rational level. As humans, we all feel purpose automati- cally, but we have to think through function rationally (which we’re not always great at). By embracing a leadership style that prioritises open communication and showcases a human side, leaders can foster trust, inspire loyalty, drive progress and unleash a hidden com- petitive advantage. Building trust through transparency Trust is the cornerstone of any success- ful relationship, be it personal or pro- fessional. When leaders communicate openly, they send a clear message: “We trust you”. This fosters a culture where employees feel valued, and stakeholders feel secure. In a world where corporate scandals can quickly erode public trust, this transparency becomes a protective shield during challenging times. Inspiring loyalty through authenticity In today’s digital age, consumers are bombarded with a constant stream of advertisements and corporate mes- sages. We’re increasingly tuning out. Amidst this noise, authenticity stands out. When leaders communicate with sincerity, showing their human side, they create a genuine connection with their audience. Driving progress through open dialogue Effective communication is not just about broadcasting messages; it’s also The human side as a competitive advantage Automation and artificial intelligence are becoming increasingly prevalent, and so the human touch is a unique competitive advantage. Leaders who recognise this and prioritise commu- nication in their management style are better placed to facilitate those genuine, lasting human connections that better set up their businesses for long-term success. By showcasing their human side, leaders can create a culture where em- ployees feel valued, customers feel con- nected, and stakeholders feel confident. This human-centric approach not only fosters trust and loyalty but also drives innovation and progress. As businesses navigate the com- plexities of the modern world, the importance of communication an- chored in human connections cannot be overstated. Leaders who embrace this, become the true voice of their business, resonating more authenti- cally with all who engage with them and contributing to a more connect- ed, understanding, and human-first culture. “EFFECTIVE COMMUNICATION IS NOT JUST ABOUT BROADCASTING MESSAGES; IT’S ALSO ABOUT LISTENING” The importance of communication anchored in human connections cannot be overstated, Jacob says 82% The percentage of consumers who make purchase decisions with a brand’s purpose in mind, according to a study by media experts Razorfish about listening. By seeking and encour- aging input and being receptive to dif- ferent perspectives, leaders can tap into a wealth of knowledge and insights that can drive innovation while also helping an organisation to stay relevant.36 CEO MIDDLE EAST APRIL 2024 tartups looking to get the best out of 2024 should study investment proposals wisely if they are to find the break- through that could be waiting just around the corner. Could this be the year when your cated to fostering long-term growth, not just providing initial funding. The number of venture capital (VC) funds has surged in recent years, but entrepreneurs now find themselves battling for recognition in a crowded landscape in which the promise of added value from investors doesn’t always meet expectations. Meanwhile, investment is not getting easier to find. In the MENA region, the total funding of $4bn raised by startups in 2023 represented a modest growth of 1.7 percent, and half of this came from debt financing, which tripled last year to $1.77bn. Meanwhile, the enormous impact of artificial intelligence (AI), in shaping Ten ways to grab a competitive edge in 2024 STARTUPS MUST SEEK TRUE VALUE BEYOND FUNDING Founders can navigate the venture capital landscape more effectively, ensuring that the partnership goes beyond funding to foster genuine, sustainable growth BY RASHIT MAKHAT, DIRECTOR AND CO-FOUNDER, SCALO TECHNOLOGIES, A TECH VENTURE COMPANY BASED IN DUBAI S STARTUP venture takes a crucial turn on its journey towards your long term goals? Can you get the most out of opportu- nities that present themselves? While attracting significant venture capital is crucial, it’s equally important to align with investors dedi-STARTUP APRIL 2024 CEO MIDDLE EAST 37 so much of how we go about our busi- ness, and our lives, has given another dimension to the challenge startups face to stand out. Almost on a daily basis, new AI tools and ideas hit the market, de- manding the attention of investors and, inevitably, resulting in most of it going to those with the most obvious potential for rapid growth. Whether a startup is in that bracket, or is more of a steady climber forced to wait for more limited investment offerings to come their way, the common priority for founders is to box clever when assess- ing the value proposition. Mismanaged expectations can lead to disappointment. Some founders, having secured capital with favourable terms, find themselves without the ad- ditional support they anticipated. When engaging with a potential investor touting themselves as “value- added,” it’s crucial for founders to probe deeper. Seek a realistic picture of what support looks like beyond the financial backing. • Founders should look for inves- tors who actively contribute to key decisions, from hiring choices to strategic guidance in marketing, financial planning, and legal matters. A holistic ap- proach can significantly impact a startup’s trajectory. • Identify investors able to con- nect your company with skilled professionals from their own network who can contribute to the growth and expansion of your business • Aim for partners who can help you construct a business model geared towards achieving the right metrics, refine your pitch, and connect you with other prominent growth-stage investors • Go with investors who have already built successful busi- nesses, and have the know- with maximum impact. Lean and focused hiring: Hire profiles that align with immediate and long-term needs. Tech trend evaluation: Adopt new tech’ that aligns with your core mission. Diversify offerings: Target mul- tiple customer segments to mitigate market shifts. Customer-centric approach: Prioritise customer feedback and satisfaction. Equity and incentive packages: Offer equity options to attract, retain top talent. Invest in employee development: Provide continuous learning opportu- nities to the team. Market research and monitor- ing: Stay informed about shifts in the competitive landscape and tailor mar- keting efforts to changing dynamics. Data-driven decision-making: Base decisions on insights from data analysis. Focus on long-term vision: Keep your core mission in mind while scaling. “GO WITH INVESTORS WHO HAVE ALREADY BUILT SUCCESSFUL BUSINESSES, AND HAVE THE KNOW-HOW TO GUIDE YOU IN MAKING INFORMED DECISIONS” Business founders should look for investors who actively contribute to key decisions, from hiring choices to strategic guidance in marketing, financial planning, and legal matters, Makhat explains how to guide you in making informed decisions to achieve your entrepreneurial targets. By prioritising quality, seeking comprehensive support, and maintain- ing realistic expectations, founders can navigate the VC landscape more ef- fectively, ensuring that the partnership goes beyond funding to foster genuine, sustainable growth. Summarising, here 10 ways startups can grab a competitive edge: Strategic financial management: Carefully allocate resources to areas 38 CEO MIDDLE EAST APRIL 2024 eal estate is in my blood. For as long as I can remember, my father incentivised my siblings and me to develop our under- standing of Dubai’s property sector, challenging us to identify trends and predict where the market is heading. He also encouraged us to develop our own interests, chief among mine being technology. From the early days of the internet to the proliferation of mobile devices and, more recently, ar- homes seamlessly and holistically. While smart home capabilities have progressed rapidly in recent years, I believe this is just the tip of the ice- berg. Here are the themes that I expect to dominate this dynamic sector over the next decade. Health and wellbeing at home Health is becoming a key component of smart home living, as innovators look to leverage the world’s most advanced technologies to enhance our physical and mental wellbeing. I expect this trend to continue over the coming years, espe- cially as advances related to the Internet of Things (IoT) enable more devices to communicate with one another. Just imagine how smart home technology could drive capabilities related to wellness tracking, which provides real-time data on sleep qual- ity, nutrition, stress levels and more. For instance, what if your home gym equipment, kitchen appliances and While smart home capabilities have progressed rapidly in recent years, this is only the tip of the iceberg WHAT’S NEXT FOR SMART HOME LIVING? The global market value of integrated systems is expected to expand at a CAGR of 18.4 percent during the 2023-2030 period BY ALI SAJWANI, MANAGING DIRECTOR OF DAMAC PROPERTIES, FOUNDER AND CEO OF AMALI PROPERTIES, AND CO-FOUNDER OF PRYPCO R REAL ESTATE tificial intelligence, I’ve witnessed the advent of myriad innovations that have reshaped society during my lifetime. With this in mind, I doubt you’ll be surprised to learn that I’m fascinated by smart home solutions – a field that straddles my passions for real estate and tech. Not only do I follow advance- ments within this sector closely, but I also enjoy learning about the ingenious ways in which innovators continue to integrate these technologies into our REAL ESTATE APRIL 2024 CEO MIDDLE EAST 39 smartwatch collaborated to provide comprehensive insights into your fit- ness, nutrition and wellbeing? Indeed, the digital health market is projected to register an impressive compound annual growth rate (CAGR) of 9.16 percent during the period 2024-28, reaching a market value of approximately $275bn within the next four years. Smart home innovations are likely to represent a key driver of this growth, thanks to their ability to enhance both the delivery and efficacy of health-related technologies. Unprecedented integration Health may be of growing impor- tance when it comes to smart home tech, but it is by no means the only focus for innovators. The integra- tion of innovations within our living spaces is driving advancements across a diverse range of other areas, from how we secure our properties to the way we enjoy their amenities. Again, IoT capabilities represent a major driver of this shift towards truly integrated smart home tech. From cutting-edge energy systems to state-of-the-art kitchen appliances like refrigerators and coffee makers, our homes are increasingly hosting complex networks of interconnected, sensor-en- abled devices that are working together to create optimised living experiences. Smart security and surveillance systems are also likely to grow in popularity over the coming years as cameras, motion sensors, door and window devices, and alarm systems combine to create safer environments for occupants. Consider for a second how quickly video doorbells have been adopted by the wider market. Now imagine how rapidly home security capabilities will evolve once each property features an army of connected smart devices. From robotic cleaners to integrated AI-powered virtual assistants, home- owners around the world are welcom- by integrated innovations, will allow homeowners to track everything from indoor air quality to humidity levels and more. Integrated waste manage- ment tools, such as smart bins and composting systems, will empower us to reduce, reuse and recycle. Mean- while, water conservation technologies will also become more prevalent, help- ing to conserve this precious resource and reduce utility bills. As with health tech and integrated systems, sustainable smart home in- novations represent big business. The prioritisation of corporate social re- sponsibility (CSR) and environmental, social and governance (ESG) com- mitments look set to drive a CAGR of 19.5 percent for green tech during the period 2023-32, culminating in a global market value of $83bn within the next eight years. I fully expect many of the sustain- able smart technologies currently being pioneered in the corporate world to find their way into our homes sooner rather than later. These are just a few of the broader smart home tech trends that I predict will gain further traction over the coming decade. However, for me, the most exciting characteristic of this sector is its refusal to conform to our expectations. As managing director of DAMAC Properties, founder and CEO of Amali Properties, and co-founder of PRYP- CO, I pride myself on my ability to anticipate market changes and evolv- ing customer requirements. As such, I’ll be watching smart home-related developments with great interest over the coming years to see if my predic- tions prove accurate. At the same time, one of the main reasons I love the fields of real estate and tech so much is that both sec- tors still have the power to surprise me. So, I’ll be equally excited about the emergence of any trends that I haven’t anticipated. “OUR HOMES ARE INCREASINGLY HOSTING COMPLEX NETWORKS OF INTERCONNECTED DEVICES THAT ARE WORKING TOGETHER TO CREATE OPTIMISED LIVING EXPERIENCES” Smart security and surveillance systems are likely to grow in popularity over the coming years, Sajwani believes ing innovations that enhance conveni- ence, comfort and security. Indeed, the global market value of integrated systems stood in excess of $26bn in 2022, and is expected to expand at a staggering CAGR of 18.4 percent dur- ing the 2023-2030 period. Integration, it seems, is the future. Sustainable living Last but certainly not least, I believe sustainability will continue to influence the direction of smart home tech de- velopment. For instance, environmen- tal monitoring capabilities, powered Next >