Meet Jenifer Herrmann, executive vice president of client partnerships and marketing at Evergreen Trading, a media trading firm that provides clients with unprecedented media investment strategies and the industry’s most creative asset and inventory trade solutions (and one of Women in Retail Leadership Circle’s amazing partners). In this exclusive interview, Herrmann shares details about her role at Evergreen Trading, how consumer behavior has changed as a result of the pandemic, her leadership style, and much more.

Inner Circle: Let’s start by talking a bit about your company, Evergreen Trading. What types of services does it offer?
Jenifer Herrmann: Evergreen Trading is an independent, employee-owned media investment agency that creates significant incremental economic value for its clients. Our business is all about preparing for the future and positioning our clients for the inevitable ebbs and flows of their business. Evergreen’s business model is predicated on assuming financial risk by making investments with our capital with media vendors prior to client demand (unlike the agency broker model). We invest our capital when media vendors need it — that provides Evergreen with unrestricted media futures at below-market costs, which we share with our clients.

Evergreen clients use media trade as a strategic tool to help minimize marketplace and business volatility in a cost-efficient, flexible and unique way. Media trade solutions include buying excess or slow-moving inventory, funding corporate initiatives, or even helping companies divest from unwanted financial commitments. These creative trade deals have delivered millions of dollars in media value for our clients.

IC: Can you discuss your role at Evergreen Trading? What are you tasked with in this role, and what do you love about it?
JH: As the head of our client partnerships group, I direct all aspects of client engagement — focusing on retention, growth and new market creation. As the head of our marketing division, my role is to activate our branding through programs targeted toward four primary customers:

  • new business prospects;
  • current clients;
  • our media vendors; and
  • our employees.

Even as a B-to-B company, the ability to integrate our marketing and branding activities into our daily fabric is linked to the success of our business. I love that in my job I can be creative in so many different ways. From the “traditional” brand creativity to the problem-solving perspective (business solution creativity). I truly have no boundaries!

IC: Consumer behavior has changed because of the pandemic. Can you talk about how you believe it has changed, and how retailers must change to meet shoppers’ needs?
JH: Evergreen has many retail clients impacted by the pandemic. But let’s focus on the quick-serve restaurant (QSR) category. From an overall company standpoint, COVID put them in a high-risk circumstance. The shutdown and regional recovery and decline created the following:

  • Halted foot traffic and closed restaurants in many high-volume markets.
  • Converted some markets to take-out only.
  • Left some markets “open for business.”

Overall sales plummeted, cash flow slowed, staffing needs and costs were uncertain. There was a need for added expense increases (PPE, in-restaurant modifications), food inventory was aging in some regions and running out in others, and media budgets were already placed but with the wrong messaging and in the wrong markets based on changed market circumstances. Overall, the present circumstance was very tumultuous without a clear understanding of the depth of the problem or the duration to expect. Smart people and solid businesses were on the brink. They needed time and a tool to “kick the can down the road” a bit.

Evergreen delivered the “bridge financing” that allowed the client to sell us excess inventory without a loss, to exit non-cancellable media commitments saving them funds, and to redeploy asset value to market the new message in the markets where sales revenue was still a possibility. In return for this bridge financing, our clients continued to rely on Evergreen for marketing and media services in the future post-pandemic periods.

COVID is a force on business like we’ve never seen before. But as you know … every year has its challenges.

IC: How does Evergreen Trading meet the needs of retailers that are communicating with a new type of consumer?
JH: We understand retailers are constantly looking for innovative approaches that not only expand their reach and awareness, but also improve return on ad spend (ROAS) as well. Evergreen partnered with one of its biggest retail clients to convert several depreciating assets (real estate, gift cards, LTO promotion product) into working capital. The financial gain achieved through our media trade program helped the organization accelerate local growth, supporting their key marketing objectives:

  • Increasing/shifting funding in specific markets to ensure optimization across all consumer targets and channels.
  • Funding test-and-learn campaigns and tactics.
  • Increase trips and ROAS.

IC: Let’s switch gears a bit. I would love to hear more about your leadership style. How would you describe it?
JH: I don’t think I have a set leadership style. Becoming a motivating purposeful leader is a journey … and should be “tuned up” frequently. From my perspective, a good leader manages to individual needs. I’m not a nurturer by nature, but I’ll be the first to give a hug to a teammate in need! It’s about them, not me.

IC: How are you right now, especially with so much uncertainty in the world?
JH: This is really a great question, and it’s one that our organization is constantly exploring. First, we understand that motivation is different for every person — it’s not a one-size-fits-all issue. But we do know that what motives everyone is gaining momentum. Therefore, I really support my team’s momentum more than anything by helping them build the habit to celebrate. We celebrate every mini victory along the way. I know that sounds laborious, but the payoff is infinite.

We make it a habit to communicate our successes, and it’s very much a part of our culture — we even do it at the senior level. We know that those mini celebrations add up. They stack, one on top of the other; and in these uncertain times, especially as news and other external signals are constantly reminding us of what’s wrong, we try to remember that what’s going right is just as available. That’s how we keep motivation front and center.

IC: What are you most looking forward to, personally and professionally, as we round out 2021 and enter 2022?
JH: Personally, I’m looking forward to some time off to travel, relax and recharge with family and friends. Professionally, I’m excited to finally put our new office space to use and reunite with my Evergreen teammates. It’s been a long time coming.