As CEO of ShopperTrak RCT Corporation, the global leader in pedestrian traffic counting, from 2004 to 2008, Davis led the company to profitability, adding over $6 million to net equity over a four-year period. Revenues doubled, and the number of managed counting devices increased by 136%. During her first 100 days, she completed the integration of ShopperTrak and RCT, which had merged in 2002, while eliminating 10% of the work force. Under her leadership, the company increased monthly recurring revenue by a factor of seven, drove days’ sales outstanding down by 57 days and improved customer satisfaction ratings by 31 points. ShopperTrak also expanded its international footprint significantly, including forming a wholly-owned subsidiary in China. Today, the company monitors counting devices in retail stores, malls and casinos in 65 countries.
Before joining ShopperTrak, Davis was an executive vice president at TransUnion LLC, the international credit reporting giant. She led the company’s consumer division as president, taking it from zero revenue in 2000 to $39 million in 2003. In that role, she oversaw the acquisition and integration of TrueLink, an early-stage company with products in the direct-to-consumer space. From 1996 to 1999, she led TransUnion’s PerformanceData division and from 1999 to 2000, led the combined PerformanceData and Insurance divisions. During this period, she addressed drastic changes in regulation with new products that provided continued growth in revenue and profits despite the regulatory turmoil. She also acquired and then divested Retail Resources, a database marketing agency, for a gain.
From 1991 to 1996, Davis was a marketing consultant in Boston, MA and in Warsaw, Poland, working with US, multi-nationals and Polish enterprises. During this period she served for two years as vice president/new ventures for Customer Development Corporation, a full-service database marketing agency.
In the late 1980s, she co-founded SmartNames, a database marketing information, analysis and services company. In that role, she participated in raising $15 million in venture capital and acquiring four other direct marketing companies. She also negotiated significant data agreements and joint sales relationships. She previously served as a leader of Trymax, a venture-backed PC-software start-up serving the automobile dealership industry, and participated in its sale to a strategic buyer.
Davis presently serves on the boards of directors of ShowingTime.com, Illinois Technology Association and Chicago Finance Exchange and on the board of advisors of TrustedID. She is a member of The Economic Club of Chicago.
When you first started your career/business did you feel passion for your work?
I started my career with a degree in English literature and no desire to teach, I was barely employable! Fortunately, I knew some men with newly-minted MBAs who were in marketing, and their jobs really sounded like fun. So I decided I’d better get myself one of those. It turned out to be a great investment, as I landed seven job offers in the spring of my second year in the MBA program. I accepted the offer that was the most frightening, at a strategic planning consulting firm in Boston. They actually told me I was a risk because I was their first woman consultant and I was coming from a “less well known” school – the University of North Carolina at Chapel Hill. The work itself was challenging and interesting and completely consuming. I was determined to prove I was just as good or better than my male counterparts, and I worked very hard. Of course, I was paid much less than they were, although I had no idea and thought my compensation was pretty good. Fortunately, after two years, the stars aligned, I dragged in a new account, and the founder gave me a large bonus and huge raise. I may still have been making less, but it sure wasn’t as much less!
When you first started were you able to visualize your final outcome?
Back in those days, I had no idea I would become a CEO and board member. Those positions seemed so far out of reach. I was just happy with the quality of the work and the caliber of the Fortune 500 companies for whom we were delivering engagements.
What were your top three obstacles/challenges?
First, while one never knows for sure, I believe the biggest obstacle for me was not looking or sounding like a senior executive. People have mental images of how people in certain roles should look and sound, and CEOs are much more likely to be tall, white men than petite, Southern women. Second, it has been very challenging to balance a family with a very demanding career. There are no easy solutions in this area. Leadership roles in all companies, from start-ups to billion-dollar enterprises, are demanding, and if you can’t or won’t put in the time and effort, you won’t get to the top. Third, during my eight years at TransUnion, I ran businesses in a highly regulated industry, consumer credit reporting – and the rules kept changing. It’s a frustrating experience to build a great business, only to have it regulated out of existence.
How did you deal with doubt, fear, and self recrimination?
I really have not suffered too much from these negative emotions. One of the best things I learned in business school – and on the ski slope – is if you never fail (or fall), you aren’t trying enough things. Fortunately, I’m blessed with the ability to see every day as a new opportunity. I can’t take credit for it; I think I inherited the trait from my mother! So I just get out of bed, ready to tackle whatever the challenge may be.
Did you feel that the traditional male dominated workplace affected you at all? If so, what did you do about it?
Yes, of course. The most overt situation occurred when I was in consulting. A case manager to whom I was assigned called a (male) client and expressed concern to him about having me on this engagement in the oil field services business. The client, who had daughters, called to tell me about it. I invited the case manager to lunch and told him he needed to keep his concerns inside the firm. It reflected poorly on us to have him airing these issues outside. He said I was being overly sensitive. Hmmmm. But at least he stopped making comments to clients. On the other hand, during that same period I found that often I could gather information my male, Yankee colleagues would never have gotten, as men felt less threatened by – or under-estimated – my feminine, Southern persona. As my career has developed and as the world has changed, people are much less likely to be overt. Now the issues don’t come to the surface, so it is much more challenging to deal with them. Generally, I have played the game by the same rules as men, taking on assignments that were challenging, demanding and consuming and delivering results.
Did you have mentors?
I have been incredibly lucky in terms of mentors. From some engagement managers during my consulting days to the president of the first start-up I joined to the senior vice president at TransUnion who recruited me to TransUnion’s CEO, I have had male mentors who brought me along. In most cases, they didn’t “teach” me so much as let me learn by watching them and by doing myself. In all cases, they positioned me well for my next step.
Do you feel you were traditional in terms of your steps to your Optimal Level? If yes, if no, please explain.
Frankly, there’s nothing traditional about a woman who’s a CEO! I have also had a non-traditional career across a number of different companies, industries and even countries. It’s been a great run, but it has not been traditional!
As you look back, what is the one thing you wish you knew when you started?
I wish I had known how wonderful girlfriends can be. From my days at UNC, I’ve been in very male-dominated environments. It’s only been in the past 10 years that I’ve really gotten to know other women as allies and as “mentees.”
Any regrets? Nope. Who’s got time for regrets?
Do you believe luck had something to do with your rise to where you are now? Do you feel you paid a price to be as successful as you are now?
I do believe luck has helped. I’ve been blessed with an optimistic temperament and a capacity for hard work. My family and I have been healthy and have not had some of the misfortunes of others. However, I also believe in being ready to get lucky. And that means working hard and smart and always trying to improve my skills and the abilities of those on my team.
My professional success has come at a price. I did not get to spend as much time with my two sons, now 18 and 21, as other mothers did. We had nannies when they were little and housekeepers once they were in school. I missed school trips and school plays. On the other hand, my sons seem to be heading in the right direction. Both are in college and are nice young men. And we all get along.
What is the best piece of advice you have for other women on their way to their Optimal Level?
The best thing you can do for yourself is build a great network. Get to know people in your company and your industry and stay in touch with them. Join networking organizations with members you respect. Stay in touch with friends from school who move in related circles. While it’s not JUST who you know that makes a difference in your career, knowing the right people at the right time is a huge asset.
Do you have any other tips for career or business women?
I believe it’s important to have fun. If you really don’t like your job most days, it’s time to find a new one. People generally are good at things they like to do, so if you are unhappy, you are probably not in a role that’s really great for you.
What do you think is the biggest mistake career/business women make?
I think many women are too modest. They don’t promote themselves or ask for the high profile assignments. They hope someone will notice and give them an opportunity rather than pushing themselves into the limelight. And then they are disappointed when their hard work is not recognized.
Do you have any other tips for career or business women?
Try new things! Take risks! Make friends! Have fun! Enjoy the journey!
