Can you afford to remain the same?
Recently I was discussing some of the brands we work with for marketing, automation or strategy with a potential client.
The next statement was one that I have heard a few times. It’s normally preceded by “Wow! That’s amazing that you are working with those types of businesses”. Then I hear “but why do they need to bother?”. “They are already established!!!”.
If I only had a dollar for every time this statement is thrown around, well you get the picture. Unfortunately, it’s not just a business limitation.
Before lockdown I went past a yoga studio on my way to the gym! I was met with “why do you need to go gym, look at your arms dude? They are already huge!”
He missed a very important point. I don’t go to gym, to become bigger. I love looking after myself, pushing my body and my mind. I thrive on the challenge of improving myself. Especially if I can perform better on the track as a sprinter. I could have easily asked since he was so flexible, why did he need to do yoga? :).
A mindset shift is required to understand that if established brands are doing it, then there must be some merit in it.
Look at your market leaders
Large business runs focus groups. Large business spends large on marketing. Large business is on every channel and touch point for their target audience.
Coca-Cola spends almost 20% of their revenue on marketing. In 2019 that was $4.2 bn in marketing a brand that is known, worldwide.
The global market at your doorstep
The reality is that your consumer gets smarter every day. These large brands invest heavily in making their touch points simple and smart. They understand that they face competition not only locally, but from the global market!
Their websites, their brands and messaging are reviewed constantly. The common consensus is that a business should refresh their brand every 2 – 3 years to stay competitive.
Just so we are clear, your brand is more than your logo. A refresh could be updating your website, your messaging, the type of content you create, the images for team members or even the colors you use.
The Digital Revolution (4IR)
In this digital age choosing to stay the same will cost you market share. It is more important than ever to invest in how you engage with your audience, what platforms you use, what systems are put in place and how smart you are with your marketing.
If your website is not bringing in leads then review it, look at the analytics, get feedback and make the changes. Lockdown is almost the equivalent of a track race. For most they are in the off season! The training they do now, will mean that they burst out of their lanes so much quicker.
For a lot of businesses, they have had to adjust to having teams working from home. If this is the only change they make by the time they have to be fully operational. Then it is safe to say they will have a very long road ahead of them.
#mindsetshift #strategicthinking #digitalinnovation