Business and marketing have changed forever. We are definitely in a super market. What are the signs?
- Conventional industry boundaries, constructs, and behaviours are changing. Business consultancies are buying advertising agencies. Some companies are moving their advertising in-house. There is a destructuralization taking place across our total economies.
- Your category today does not resemble your category last year. More cost pressure from your retailers, and more e-commerce alternatives. Uber Eats allows people to outsource more of their cooking at home. Categories are not behaving they way they used to. For example, the top 100 CPG brands are loosing share-of-market.
- Disruptive players like Uber, Netflix, or a new start-ups are appearing, by the hour, in your category. Unique business models, low operating costs, and network effects are driving their success.
- Your marketing is likely not reaching as many people as it used to. There is content overload happening to people. And in an “on-demand” world, consumers are really only looking for what they need; not necessarily what you are selling.
- The means by which companies and brands reach their customers and prospects is changing. This year, digital media exceeded conventional media. And now your competitor might have developed an app, or a Facebook Live event, or a kiosk with facial recognition software; different than the conventional media vehicles they used last year.
- New language and acronyms are appearing by the hour. It seems difficult to keep up.