How can product leaders implement empathy and customer centricity to influence decisions within an organization? In episode 14 of the CPO Rising Series with Renee Niemi, Moody’s CPO Nick Reed shares insights on how his unique role and empathetic approach drive innovation in one of the top financial analytics companies. Learn about their precision-based culture, data-driven strategies, and the secrets behind 63 consecutive quarters of double-digit growth. Explore the importance of customer-centricity, product interoperability, and the evolution of product management in large organizations. Gain valuable insights into the intersection of technology and finance, all in this engaging conversation with a leader at the forefront of the industry.
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Show Notes
- James transitioned from a customer-facing role to a top leadership position.
- He manages 250 product managers, but none of them report directly to him, showcasing a unique organizational design.
- Influencing with empathy is a key quality.
- Moody Analytics acquires and integrates multiple businesses to provide customers with seamless access to products and services.
- Product managers have significant influence on go-to-market strategies, marketing, and engineering decisions, despite not reporting directly to them.
- The company has hundreds of products and thousands of customers, focusing on defining a Northstar and influencing decisions without micromanaging.
- The company’s culture is built on precision and analytical rigor, informing its product strategy and driving growth.
- Moody Analytics aims to incorporate the voice of the customer into all aspects of its operations.
- Data plays a crucial role in shaping the company’s strategy, going beyond relying solely on statistical information.
- The organization is product-focused but also solution-led, using customer-friendly language and a problem-solving approach.
- Capabilities from acquired products are integrated into solutions, but they are still considered products.
- Moody’s Analytics has achieved 63 consecutive quarters of double-digit growth through organic and inorganic means.
- Customer success and innovation are combined under the same leader to ensure customer-focused and value-driven innovation.
- The company leverages high-tech capabilities to address technology edge cases while prioritizing customer-driven innovation.
- Interoperability is essential in product development, meeting customer demand for products that work well with other vendors’ offerings.
- Products should function within an ecosystem rather than as standalone solutions. Emphasize compatibility with competitors’ products.
- Influencing with empathy means providing consumable products for its customers’ employees, not just serving the customers directly.
- Moody’s Analytics prioritizes Net Promoter Score (NPS) over financials in acquisition decisions and evolves the Product Management role to emphasize resource allocation and strategy.
About the speaker
Helping customers make better faster decisions. Executive Director/Ex Co member responsible for company-wide Product, Strategy, Marketing and Innovation groups