Transformation isn't about digital, channels, tech, Apps, websites, or other fixed mindset stuff, it's totally about being consumer centric and working out how you can add value by leveraging what you have to build the transformation bridges to the new future.
We are all consumers of someone else's business, every day we make an unconscious bias in our decision to shop with one company/brand over another.
My day job is to help businesses that have stalled, stagnated, or worse still in rapid decline.
"The biggest threat to any company is to lose sight of the 'why'".
I'll say it again - "The biggest threat to any company is to lose sight of the 'why'".
The 'why' is your brand equity.
So if you've elected to do more of the same, or move away from the core reason 'why' consumers once chose you over a competitor. Many retailers do this by product or category extension. And what we witness is that you have probably given ground to other brands/businesses who have managed to take away your 'why'.
What I mean by this is that every single business I've been called into when dealing with a turnaround were on a race to the bottom because they lost focus on the core reason 'why' consumers previously chose to shop with them over a competitor.
When I ask leadership teams to explain to me 'why' they think the consumer has ceased going to them ahead of the competition they genuinely struggle to articulate the answer.
Some of them go on to explain to me how through promotional marketing and advertising is how they got customers to the company previously - and there you have it......the biggest indicator of an internal mindset disconnected from the external factors impacting the company.
Have you ever stopped to consider how much time you've invested with your media buying agency in relation to getting them to really understand your brand and 'why' people connect with you?
"Strategy without tactics is merely an idea, tactics without a strategy is just wishful thinking"
Tactics alone will never really move the dial, of course they will feel like they are but that's because it's simply keeping you busy.
Over the years I've been privileged to work with a number of international media agencies who took the time to get under the skin of the brand in order that they can add value and increase efficiencies for all related parties.
Above all they recognise that great brands build relationships .
"We build relationships with individuals by getting to know their personalities, and companies are no different. Your brand’s personality—and resulting tone of voice—are the characteristics that your audience should be able to perceive in every interaction they have with your brand. Determining these characteristics tells marketers what they want the audience to know about your company.
To have strong customer relationships, your company’s communications need to be innovative enough to stay relevant but stable enough to always be identifiable as coming from your brand instead of a competitor’s".
The rise of ad tech and with it the adoption of 'programmatic' advertising has managed to dilute the brand message in favour of high volume, low cost 'reach' tactics'.
With circa 60%+ of the world's population on one social channel or another are you still deploying tactics or do you have a company wide social media strategy?
Even though you’re keen to see your agency put a strategy in place and begin implementing it with tactics, we want to encourage you to take a step back.